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Europe mobile Internet usage to reach 39 percent by 2014

More than a third of consumers in Western Europe will access the Internet using their mobile phones by 2014, according to a research report published by Forrester Research on Monday.

China stocks tumble; yen jumps after Japan vote

Chinese stocks sank 6 percent to a three-month low on Monday, weighing on Asian shares, sapping investor willingness to take risks and giving the yen an added boost after Japanese voters swept the opposition into power.

Stock futures signal losses as commodities retreat

U.S. stock index futures pointed to a lower open on Wall Street on Monday for the last session of the month, with futures for the S&P 500 down 0.78 percent, Dow Jones futures down 0.77 percent and Nasdaq 100 futures down 0.87 percent at 0825 GMT (4:25 a.m. EDT).

Federal Reserve made $14 billion on turmoil loans: report

The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.

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Flu pandemic's impact seen as mixed for U.S. stocks

Investors worried about a severe U.S. swine flu outbreak this fall should consider stocks that rise when people hunker down at home and avoid companies that operate in crowded spaces.

Funds of hedge funds fight back after Madoff

The fund of hedge funds industry is being forced to reinvent itself after the Madoff scandal and hefty client outflows, and will emerge from the crisis smaller but in better shape than many had expected.

Swiss banking execs eye UBS tax dispute fallout: report

Executives at Swiss banks Julius Baer and Credit Suisse expect to avoid a U.S. tax investigation into their private banking businesses on the same scale as their peer UBS , they told The Financial Times on Sunday.

Daily Forex Commentary Aug 31

The Australian Dollar begins the new week at 0.8410 but has yet to assert itself above the US84 cent mark.

Citi investors should take profits: Barron's

Investors that bought Citigroup Inc shares should take profits after the U.S. bank's shares climbed almost 100 percent in the last month, Barron's said in its August 31 edition.

AIG shares look overpriced: Barron's

Shares of insurance giant American International Group soared more than 50 percent last week and they now look overpriced, Barron's said in its August 31 edition.

Lehman claims could reach $100 billion: PwC

Administrators of the London arm of Lehman Brothers said the claims it is handling against the collapsed Wall Street bank could total as much as $100 billion.

For stocks, summer ends with jobs data

The last week of summer could prove to be anything but relaxing for stock investors worried about the economy, with the crucial August jobs report on the agenda.

Rep. Frank eyes Fed audit, emergency lending curbs

Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, said he plans legislation to restrict the Federal Reserve's emergency lending powers and subject the central bank to a complete audit.

Rep. Frank seeks compromise on Fed audit bill

Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, hopes to craft a compromise bill with lawmakers who want to open Federal Reserve monetary policy decisions to audits, a spokesman for Frank said on Saturday.

AIG weighing many options for ILFC: sources

American International Group Inc and Steven Udvar-Hazy, head of its International Lease Finance Corp unit, are weighing several options for the aircraft leasing business, including breaking up the company, two sources familiar with the matter said on Saturday.

France obtains tax suspects' Swiss account details

France has secured the names and details of some 3,000 suspected tax evaders with Swiss bank accounts in what the budget minister described as a first in its battle against banking secrecy.

US bank regulators close Affinity Bank

U.S. bank regulators closed Affinity Bank of Ventura, California on Friday, the 84th U.S. bank to fail this year as economic weakness continues to take a toll on financial institutions.

Judge puts Fed's bailout revelations on hold

The U.S. Federal Reserve won a delay of a federal judge's order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received.

Belgian boy claimed latest victim of exploding iPhone

A 15-year-old Belgium boy is allegedly the latest victim in a series of mysterious iPhone explosions that have captured the attention of France's and the European Commissions' consumer affair watchdogs.

Apple to have XL tablet running full Mac OS X

Apple may be not only working on a 10-inch tablet, but also in 13 and 15 models, one running Mac OS X, Gizmo said on Friday citing a source that has always been 100% reliable.

SEC slapped on oversight of credit agencies

The Securities and Exchange Commission's internal watchdog has criticized the agency for approving a credit rating agency, even though it had suspicions about the accuracy of its financial information.

Dow, S&P dip; Nasdaq ekes out gain on Dell, Intel

U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive news from bellwethers Dell Inc and Intel Corp .

Consumer spending up, but morale at 4-month low

Worries over high unemployment pushed U.S. consumer confidence to a four-month low in August, while spending rose modestly in July, indicating the economy's recovery from recession would be lethargic.

Cerberus clients overwhelmingly want out: report

Cerberus Capital Management has been swamped with redemption requests with the Wall Street Journal reporting that investors are asking to pull out $5.5 billion or 71 percent of assets from its hedge funds.

Obama's pay czar no stranger to big paychecks

The pay czar tasked by the U.S. government with ruling on the eye-popping compensation of some of Wall Street's top earners is far from a stranger to big paychecks and the trappings of wealth.

Guaranty Financial files Chapter 11

Guaranty Financial Group Inc has filed for Chapter 11 bankruptcy protection, less than a week after regulators seized its banking unit and sold most of its assets to the Spanish bank, Banco Bilbao Vizcaya Argentaria SA .

Wall Street drops on weak consumer data, but techs help

U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive quarterly results and outlooks, while some investors booked profits after the Dow's eight-day winning streak.

Oil rises over $73 on economic optimism

Oil prices rose above $73 a barrel on Friday amid lingering optimism that the recession is ending, spelling a rebound in ailing world energy demand.

Want the world's best wages? Move to Switzerland

It pays to work in Switzerland: employees in Zurich and Geneva have the highest net wages in the world, a study by banking group UBS shows, while those in India's Mumbai take home the lowest.

U.S. credit card issuers pare lending limits

Millions of Americans have already seen their credit card limits shrink, and millions more face the same fate as lenders prepare for tougher U.S. consumer protection rules.

Apple dismisses exploding iPhones in France

Apple hit back on Friday over the affair of the exploding iPhones in France by dismissing the whole story as nonsense and suggesting that the owners were either negligent or liars, the Times reported on Friday.

U.S. double-dip recession out of the question: ECRI

A weekly measure of future U.S. economic growth slipped in the latest week, though its yearly growth rate surged to a 38-year high that suggests chances of a double-dip recession are slim.

Weak consumer data saps Wall Street gains

Stocks gave up most of their gains on Friday after initially spiking to 10-month highs as weak consumer sentiment data offset an upbeat forecast from chipmaker Intel and better-than-expected profit from computer maker Dell.

Madoff trustee to review swindled victims' claims

The bankruptcy trustee overseeing the liquidation of Bernard Madoff's investment advisory firm will ask a court to decide how much the imprisoned swindler's victims should recover, including those seeking profits reflected on their faked account statements.

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