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Shares in UBS plunged on Friday after U.S. tax authorities said they were widening a probe into the Swiss bank and wanted 52,000 client names, a day after UBS agreed to a hefty fine to settle criminal charges. The stock was down 9.4 percent at 11.60 Swiss francs at 3:29 a.m. EST, reversing some of Thursday's strong gains. The DJ Stoxx index of European banks was down 3.8 percent, and rival Credi...

High-grade credit is likely to outperform equities as pressure intensifies on governments to prop up troubled companies, a move which would increase the odds for the sort of stagnation seen in Japan in the past decade.

President Barack Obama on Wednesday unveiled the next step in his multi-pronged efforts to lift the United States out of recession Wednesday, pledging up to $275 billion to help stem a wave of home foreclosures that sparked the U.S. financial meltdown.

On Wednesday world markets fell following a steep sell-off on Wall Street as investors doubted the viability of the U.S. governments' latest rescue plan for the struggling financial industry with as much as $2 trillion in funding.

Swiss bank Credit Suisse plans to cut bonuses for investment bankers by 55 percent, Bloomberg reported on its website on Tuesday, citing unnamed sources.

Swiss bank Credit Suisse plans to cut bonuses for investment bankers by 55 percent, Bloomberg reported on its website on Tuesday, citing unnamed sources.

Gold gained on Friday, erasing earlier losses on speculation that higher food and energy prices will spur inflation, while the dollar strengthened against the euro and other major currencies, lowering the investment appeal of the precious metal.

Tiffany & Co., the world's second- largest luxury-jewelry retailer, said Friday its first-quarter net income rose a higher-than-expected 19 percent on stronger demand from Europe and Asia which helped make up for weaker sales in the U.S.

For many bankers and traders, the days of company perks such as sleek limos, cushy business class seats, and fat steaks are gone.

Tokyo shares closed lower Wednesday as weakness in commodity-sector shares and a selloff of real estate stocks stalled a two-day rally, despite continued strength in financial stocks and gains at Matsushita Electric Industrial.

Shares of RadioShack Corp. fell on Monday after the electronics retailer said its first-quarter net income fell worse than expected, dropping 8.7 percent on weaker results from its Sprint Nextel Corp. wireless business.

European stocks rose early on Wednesday, with the FTSEurofirst 300 index increasing 1.0 per cent to 1,294.42 points.

Credit Suisse upgraded Delta Air Lines Inc and Northwest Airlines Corp to outperform from neutral, and said the merger between the companies is near certainty.

By Jon NadlerSilver lost another $1.48 or 8.5%, falling to $16.94 per ounce. Platinum dropped $39 to $1865.00 per ounce and palladium lost $18 to $438.00 as the entire complex was battered by the freefall in gold

Commodity Online MUMBAI: After a rally in gold that led to the international prices zooming to $1030 an ounce, will gold price reverse direction based on Wednesday's price level of $940 ?

Commodity Online MUMBAI: After a rally in gold that led to the international prices zooming to $1030 an ounce, will gold price reverse direction based on Wednesday's price level of $940 ?

Frank Quattrone, the controversial financier who rose to stardom during the dot-com boom in the 1990's has announced his long-awaited return to finance with the formation of a new advisory firm.

The dollar held near a record low versus the euro on Thursday after weak U.S. data fuelled recession fears and Federal Reserve Chairman Ben Bernanke signaled a readiness to cut interest rates again.

NTT DoCoMo Inc, Japan's biggest mobile phone operator, will offer 24-hour free calls between family members as it fights to keep users from switching carriers.

Credit Suisse has written $2.85 billion off the value of its asset-backed investments and found mismarking and pricing errors on its books, it revealed on Tuesday, sending its shares plummeting. The bank said the write-downs would wipe $1 billion from its first-quarter net income, after taking into account tax credits and cancelling some staff bonuses, but it still expected to stay in profit in the quarter, despite the charge.

High-yielding currencies, led by the Australian dollar, rose on Tuesday as investors added to risky trades amid strong gains in commodity prices and expectations of further interest rate increases in Australia.

European shares cut Tuesday's losses and rose as a turnaround in shares of Barclays boosted UK banks and U.S. stock futures extended gains.

The promise of a solid open on Wall Street after Wal-Mart signaled the U.S. consumer is still keen to spend helped set aside worries about hefty bank writedowns on Tuesday while oil and metal prices rose unabated.

Qatar is buying shares of Credit Suisse and will spend as much as $15 billion over the next year on European and U.S. bank stocks, the prime minister said Sunday night, according to a report.

Gold futures closed with strong gains Friday, rising as the dollar traded lower against a basket of its major foreign-exchange counterparts. Platinum Gained.

Morgan Stanley, Lehman Brothers Holdings, Inc. and Credit Suisse Group are cutting over 1,640 jobs, according to people familiar with the matter, Bloomberg reported.

The ceiling on foreign investment in Chinese securities will be raised to $30 billion from $10 billion, Beijing's foreign exchange regulator said on Sunday ahead of cabinet-level talks with the United States.

The dollar rose broadly on Thursday as investors bet that the perceived likelihood of more U.S. interest rate cuts will help avoid a recession.

European shares rose early on Tuesday as tech and energy stocks helped the market bounce back from the previous session's sharp drop but banks such as UBS and Credit Suisse slipped again on credit market concerns.