Bernanke backs away from regulation revamp
Congressional approval of an Obama administration plan to create a systemic risk regulator for the U.S. economy looks more likely after lawmakers noted a change in tone by the Federal Reserve on Thursday. Read Full Article here.
GE talks to Comcast about NBC Universal: sources
Comcast Corp and General Electric Co are in talks that could lead to the sale of part or all of NBC Universal to the U.S. cable service company, according to sources close to the negotiations. Read Full Article here.
BofA CEO Lewis out by year's end, search on for successor
Bank of America Corp CEO Kenneth Lewis announced he was retiring, after months of being dogged by a series of government investigations into the company's acquisition of Merrill Lynch last year that had become a major distraction for the biggest U.S. bank. Read Full Article here.
CIT board meeting to weigh plan: source
CIT Group Inc's board was meeting Thursday to consider a restructuring plan for the struggling commercial lender, a source familiar with the matter said. Read Full Article here.
IMF says global economic recovery has begun
The International Monetary Fund on Thursday declared that a global economic recovery has begun led by Asia, also cautioning that the strength of the rebound depended on a rebalancing of global growth. Read Full Article here.
Target fined over lead paint in toys
The U.S. Consumer Product Safety Commission has fined discount retailer Target Corp $600,000 for allegedly violating a federal lead paint ban on toys. Read Full Article here.
U.S. personal spending surges, jobless claims rise
U.S. consumer spending in August rose at the fastest in nearly 8 years, but a weak labor market and the manufacturing sector's below forecast growth in September could hamper a nascent economic recovery. Read Full Article here.
Judge rules BofA suit over Bear loss can proceed
A federal judge said Bank of America Corp may pursue a lawsuit accusing former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin of lying in an attempt to prop up two failing hedge funds. Read Full Article here.
UK fraud office aims to prosecute BAE Systems
Britain's fraud office said on Thursday it aimed to prosecute Europe's biggest defense contractor, BAE Systems, for bribery, but lawyers said an out-of-court settlement remained the most likely outcome. Read Full Article here.
Cisco bets on video again with $3 billion Tandberg buy
Cisco has agreed to buy Norwegian videoconferencing company Tandberg for $3 billion in cash, its latest big bet that video will drive demand for its core data transmission gear. Read Full Article here.