CITIGROUP

The massive $26 billion mortgage settlement between states and banks is designed to help millions of American homeowners -- but not everyone is eligible.

Forty-nine states and five major banks reached a $26 billion mortgage settlement that will aid about two million homeowners, government officials announced Thursday.

Gold prices rose 1 percent on Thursday as the euro rallied to a fresh two-month high against the dollar after Greece clinched a deal with European Union and IMF leaders needed to avoid a messy default.

The announcement caps more than a year of chaotic negotiations among state and federal officials, and the banks, who have been accused of using robosigners and unlawful documentation to deal with a flood of foreclosures.

California and New York, two big holdout states in a $25 billion mortgage settlement, are expected to join the deal, smoothing the way for an announcement on Thursday, according to a person familiar with the matter.

California and New York, two key holdout states for a multi-state mortgage settlement, are expected to join the deal, smoothing the way for an announcement expected on Thursday, according to a person familiar with the matter.

As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.

The BSE Sensex snapped a five-day rally on Tuesday as investors locked in profits after the government forecast growth may dip below 7 percent, the slowest pace since the 2008 financial crisis.

A multi-state mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to press specific concerns and ignore a Monday deadline to decide whether they will sign it.

California and New York may join a settlement between states and major lenders over foreclosure fraud, potentially boosting the banks' aid to homeowners to $25 billion from $19 billion.

Apple's recent statement that it may not introduce ARM-based Macs in the future has led CNET to believe that Apple's highly anticipated iPad 3 may arrive with a keyboard option.

A group of Brazil-based hackers took down the main corporate Web site of New York-based Citigroup on Friday, as the loosely associated collective continued its weeklong campaign of attacks on Web properties of major international banks. The public site of Brazil's central bank was also taken down.

The BSE Sensex was subdued on Friday as some profit-taking emerged after the index rose more than 3 percent in the last three sessions, and as weak Asian markets ahead of key U.S. jobs data dented investor sentiment.

Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.

European shares steadied after hitting a six-month high on Thursday as strong gains in miners on merger talks between Xstrata (XTA.L) and Glencore (GLEN.L) were offset by a sell-off in defensives, with Unilever (ULVR.L) down on poor outlook.

The job cuts, if they go through, would be part of thousands of other cuts which financial institutions plan to make in the near future.

A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.

Mort Zuckerman, the venerable real estate developer and media mogul, has a taste for urbanism. He attributed the strong fourth quarter and 2011 for his real estate investment trust Boston Properties, Inc. (NYSE:BXP) to its focus on major cities.

Stocks extended January's rally on Wednesday after upbeat global manufacturing data boosted sentiment and as Greece neared a long-delayed deal with private creditors.

A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.

A unit of Citigroup must pay $500,000 to a former branch manager who alleged the company fired him because of his age, according to a decision by a Financial Industry Regulatory Authority arbitration panel.