BUSINESS

Bank of America Corp won a victory when a U.S. appeals court ruled that a proposed $8.5 billion settlement with investors in mortgage-backed securities should be reviewed in New York state court, not federal court.

Bloomberg LP revamped its market data service on Monday in an effort to make its flagship terminal more intuitive and simpler to use for financial clients who have seen their budgets slashed in recent years.

German Chancellor Angela Merkel scraped through a parliamentary vote endorsing a second bailout for Greece on Monday but faced a growing backbench revolt against pouring in more money in support of the euro zone.

The benchmark S&P 500 closed at its highest level since mid-2008 on Monday, extending gains for a third session as oil prices retreated after a recent rally and data showed further improvement in the U.S. housing market.

U.S. households continued to shave debt in the fourth quarter as mortgage balances declined, while there were tentative signs Americans are increasingly willing to spend, according to a report released on Monday by the New York Federal Reserve.

U.S. households continued to shave debt in the fourth quarter as mortgage balances declined, while there were tentative signs Americans are increasingly willing to spend, according to a report released on Monday by the New York Federal Reserve.

The FBI says it has enough informants lined up to keep its investigations of suspected illegal insider trading at hedge funds going for at least five more years.

Stocks inched higher on Monday as oil prices retreated after recent sharp gains and data showed further improvement in the U.S. housing market.

U.S. consumer debt fell a modest 1.1 percent in the fourth quarter as mortgage debt continued to decline, the New York Federal Reserve said on Monday.

Contracts to purchase previously owned U.S. homes neared a two-year high in January, an industry group said on Monday, further evidence the housing market was slowly turning the corner.

Mexico's Cemex said on Monday it plans to exchange some of its debt for longer maturities in a deal that could help one of the world's leading cement makers save millions of dollars.

The S&P 500 edged higher in afternoon trading on Monday to hit its highest level since June 2008 as data showed continued improvement in the beaten-down U.S. housing market, adding to hopes for a strengthening economy.

Stocks edged higher on Monday, reversing early losses, as oil prices retreated from worrisome levels and new data showed continued improvement in the struggling U.S. housing market.

Warren Buffett resisted pressure on Monday to identify his successor as chief executive officer of Berkshire Hathaway, saying the person who has been chosen does not even know it himself.

Stocks rebounded on Monday from near 1 percent losses after the open to turn flat in late morning trading.

Euro zone finance ministers will meet to discuss Greece and its private sector debt restructuring in Brussels on Thursday, the president of the Eurogroup, Jean-Claude Juncker, said on Monday.

Nearly 10 percent of customers of U.S. banks moved their accounts last year, often after they became frustrated with fees and the quality of service, market research firm J.D. Power and Associates said on Monday.

Stocks opened lower on Monday following the S&P 500's four-year closing high last week and after the Group of 20 leading economies told Europe it must commit more money to fight the EU debt crisis before seeking broader help.

At the Oscars Sunday night, there was much gossip about Jennifer Lopez and her dress that allegedly resulted in a wardrobe malfunction, but her stylist said after there was no chance a nip slip happened, though the incident was caught on video.

Japan's securities watchdog is investigating a small Tokyo-based broker, ITM Securities Co, over its possible role in a scandal involving the suspected disappearance of more than $2 billion in corporate pension funds, two sources with knowledge of the matter said.

Italy's cost of borrowing over six months sank towards 1 percent at an auction on Monday, the lowest in 17 months, as cheap loans from the European Central Bank fuelled banks' interest in lending to euro zone governments over the short-term.

EBay Inc forecast robust growth in its mobile commerce segment as the online commerce and auction site expects more people to shop and pay via smartphones.

The euro zone avoided a credit crunch in January but banks showed scant sign of lending on the funds they snapped up at the European Central Bank's first 3-year lending operation to companies which have been starved of investment funds.

Firms and consumers continued to pull their money out of Greek banks at a rapid rate in January, European Central Bank data showed on Monday, underscoring the ongoing lack of trust the country's banking system faces.

HSBC Holdings Plc , Europe's biggest bank, predicted growth in Asia and other emerging markets would outweigh sluggish European economies this year as it posted a $21.9 billion profit for 2011, the best outturn by a western bank so far.

An industry alliance including the top wireless chipset provider Qualcomm will step up competition in the smartphone software market on Monday, with a new Internet-based free technology for cheaper smartphones.

Leading economies told Europe it must put up extra money to fight its debt crisis if it wants more help from the rest of the world, piling pressure on Germany to drop its opposition to a bigger European bailout fund.

Germany's parliament will almost certainly endorse a Greek bailout on Monday despite growing pressure on Chancellor Angela Merkel to meet domestic calls to stop throwing money down this crazy path.

HSBC Holdings , Europe's biggest bank, made a $21.9 billion profit last year, the largest among western banks, as its strength in Asia helped it cope with a euro zone debt crisis that has plunged many rivals into huge losses.