Gold rallied 1 percent on Friday in volatile trade, as the safe-haven bid for precious metals returned when a survey showed U.S. consumers gloomy about the economic outlook.
A drive by Peru's leftist president to raise mining royalties should not derail multibillion-dollar investments, industry executives said, but they added that the final law must reflect the spirit of negotiations with companies.
Charged UBS rogue trader Kweku Adoboli wept in court Friday during a 15-minute hearing in London over a charge of fraud and two charges of false accounting involving a $2 billion loss for the Swiss-based bank.
President Barack Obama Friday signed into law a the first major overhaul of U.S. patent law since 1952 -- one that officials say will speed the application and approval process for inventors -- a short-cut that could lead to more inventions coming to market sooner, creating more jobs.
Yahoo shares rose more than 2 percent Friday amid speculation that it has been approached by private equity buyers that like tech investments -- including Silver Lake Partners and Providence Equity Partners.
Kweku Adoboli has been charged with fraud and false accounting by London police in connection with unauthorized trades at UBS that caused the bank a $2 billion loss. Adoboli has also reportedly admitted to the bank he caused the losses. His father, a retired United Nations employee living in Ghana, said his son made a mistake.
Silver and platinum may lag other precious metals in the coming months, according to analysts studying both their price movements and the broader economy.
Research in Motion, the BlackBerry developer, needs a new “transformational” CEO or to be put up for auction now, activist investor Victor Alboini said.
Molycorp Inc (MCP.N) said on Friday it has broken off talks with Japan's Sumitomo Corp with regard to a financing deal, as the investment is no longer necessary for the implementation of its business plan.
Continued losses in the investment bank arena could lead to more restructuring and another round of job cuts to be unveiled in November.
Volatility in equity markets is burning smart-money players, and even experienced traders are finding it hard to keep up.
Gold prices rebounded Friday, along with other safe-haven investments, literally hours after dropping sharply on word that the world's biggest central bankers were jointly moving to protect the eurozone's commercial financial institutions.
Options for a sustainable economic recovery are narrowing, Christine Lagarde, Managing Director of The International Monetary Fund, said in an opinion piece for a German newspaper.
Goldman Sachs Group Inc is shuttering a well-known hedge fund that relies on computer-driven trading strategies after the portfolio rang up a hefty loss this year.
Arrested at his UBS trading desk, rogue trader Kweku Adoboli allegedly told the bank about his unauthorized trading that resulted in a nearly $2 billion loss.
Swiss bank UBS came under increasing pressure to shrink or sideline its investment bank business -- source of a $2 billion rogue trading loss -- as ratings agencies warned lax risk management could prompt downgrades.
The idea is out there: Republicans on Capitol Hill considering a ceiling for defense cuts mandated by the deficit-reduction super committee. If it becomes a reality, however, it would not exceed $150 billion over 10 years.
Gold tumbled to a two-week low on Friday as diminishing liquidity concerns prompted a bout of selling, but lingering concern about financial stability and strong physical buying interest from Asia later helped it to recover.
UBS said it may report a third-quarter loss after it suffered a $2 billion loss due to unauthorized trading by a trader in its Investment Bank.
Texas Instruments Inc. (NYSE: TXN) announced a 31 percent increase in quarterly dividend from $0.13 to $0.17, resulting in a dividend yield of 2.5 percent. Jefferies believes there is room for the dividend to go higher.
The jury has reached a verdict in a courtroom battle between Trust Company of the West and former investment chief Jeffrey Gundlach, concluding a six-week trial that has transfixed the financial industry.
Research In Motion reported a steep drop in quarterly profit on limp sales of its smartphones and tablets, and offered investors little hope of a turnaround anytime soon, sending its shares tumbling.
