INVESTMENT

U.S. and Swiss negotiators were drenched in sweat when they finally settled their dispute over access to the names of American clients of UBS AG suspected of tax evasion, a source close to the talks said on Thursday.

UBS AG is leaving one problem behind with the settlement of its tax row with the U.S. government, but the bank's Americas wealth management unit still faces headwinds that could force a sale.

U.S. stocks edged up on Thursday as better-than-expected earnings by Wal-Mart Stores Inc. offset gloomy government numbers on retail sales and employment.

Warren Buffett's Berkshire Hathaway Inc underestimated the risks of falling stock prices to its billions of dollars of derivatives bets, yet still believes it is valuing the contracts fairly.

U.S. gold futures rose Thursday on follow-through buying after the Federal Reserve said it would keep interest rates near zero, bolstering bullion's status as a hedge against inflation.

Citigroup Inc energy trader Andrew Hall is proposing to modify his contract in an effort to avoid a confrontation with the Obama administration's pay czar, The Wall Street Journal reported on Thursday, citing sources familiar with the situation.

U.S. stock index futures rose more than 1 percent on Thursday after Wal-Mart Stores Inc reported second-quarter results that topped Wall Street's expectations, boosting investors' confidence in consumer spending ahead of a government report on July retail sales.

Shares in UBS on Thursday extended gains as investors expected the settlement of a damaging U.S. tax dispute to allow the bank to focus on becoming profitable again.

Asian stocks and commodities rose on Thursday after the Federal Reserve said it spotted stability in the U.S. economy, spurring investors to buy back shares and other riskier assets and sell U.S. dollars.

Asian stocks and commodities rose on Thursday after the Federal Reserve said the ailing U.S. economy was showing signs of leveling out, spurring investors to buy back shares and other riskier assets and sell U.S. dollars.

The U.S. Securities and Exchange Commission is including options exchanges in its review of controversial flash orders, which give traders an advance look at trading orders, the regulator said on Wednesday.

Hedge fund manager John Paulson, who made a fortune betting against financial companies after foreseeing the credit crisis, stocked up on shares of Bank of America Corp during the second quarter.

Loss-making lender Amcore Financial Inc said its unit will sell two branches to First National Bank and Trust Co of Beloit, Wisconsin to improve liquidity and return to profitability, sending its shares up more than 16 percent.

Manulife Financial Corp said on Wednesday it has bought AIC Ltd's Canadian retail investment fund business, boosting its mutual fund arm in another big-player takeover of an independent fund company.

Hedge fund manager John Paulson, who earned a fortune by betting against financial companies after foreseeing the credit crisis, stocked up on shares of Bank of America Corp and other lenders during the second quarter, according to a regulatory filing.

The U.S. coal business of miner Rio Tinto PLC submitted a new application on Wednesday for an initial public offering of up to $500 million.

The U.S. Securities and Exchange Commission has told Arthur Samberg, a once powerful hedge fund manager, it plans to file civil insider trading charges against him and his firm, Pequot Capital Management.

The days of secret bank accounts are numbered for U.S. taxpayers and European tax dodgers should also watch out after the United States and Swiss bank UBS AG agreed to settle a tax evasion case.

The U.S. Securities and Exchange Commission has told former hedge fund manager Arthur Samberg that it planned to bring an enforcement action against his firm, Pequot Capital Management, according to a source familiar with the matter.

The days of secret bank accounts are numbered for Americans after UBS and the U.S. and Swiss governments agreed to settle a dispute over whether the Swiss bank should be forced to disclose the names of 52,000 rich U.S. clients suspected of tax evasion.

Stocks gained on Wednesday ahead of a key announcement by the Federal Reserve, led by technology and homebuilding shares after positive earnings reports.