UNITED STATES

Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.

Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend roughly $26 billion to buy railroad operator Burlington Northern Santa Fe Corp.

California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the state, Attorney General Jerry Brown said on Friday.

Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a prolonged deterioration in housing.

Dollar General is set to go public next week, but the discount retailer could see mixed results in its closely watched initial public offering as its private equity backers have valued the company richly.

The Obama administration would be willing to hold bilateral talks with North Korea but only if certain conditions were met, the president's top adviser on Asia said on Friday.

Freddie Mac , the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a prolonged deterioration in housing.

U.S. President Barack Obama on Friday listed a range of fresh options being considered by the White House to spur growth after sobering news that unemployment spiked to a 26 1/2-year peak last month.

Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

Arab and Muslim Americans on Friday braced for the possibility of verbal or physical attacks after an Army psychiatrist of Arab descent allegedly killed 13 during a shooting rampage at a military base in Texas.

Warren Buffett's Berkshire Hathaway Inc on Friday said third quarter net income tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

After much anticipation and buzz over it being the next iPhone Killer, Verizon officially launched its Motorola Droid in the US on Friday. The Droid, Motorola's most anticipated cellphone since the launch of the Razr in 2004, hit shelves at 2,000 Verizon Wireless stores around the nation today.

Harvard Business School is sending 28 percent of its 2009 graduating class onto careers in finance, a mildly bullish sign for the economy, said Ray Soifer, an independent bank consultant.

A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s.

Traffic for the top three U.S. airlines slumped in October, but load factors for most of the nine largest carriers rose and the decline in unit revenue showed signs of slowing down.

U.S. lawmakers said on Friday they introduced a measure aimed at overhauling an annual fund intended to ensure nationwide telephone service in high-cost, rural areas by including money for high-speed Internet use.

AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.

The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.

U.S. President Barack Obama will seek to reinforce the U.S. desire for more balanced global growth during his trip to Asia this month, administration officials said on Friday.

The Michael Jackson concert film This Is It has crossed the $100 million mark at international box offices as it enters its second weekend in theaters, the studio behind the movie said on Friday.

U.S. stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent -- the highest in 26-1/2 years.