MARKETS / FINANCE

U.S. Treasury Secretary Timothy Geithner on Friday proposed clamping down on dealers in freewheeling markets for derivatives, the little-understood, complex securities that helped create a crisis in U.S. and world financial markets.

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Stocks fell on Friday, with the Dow industrials and the S&P 500 set for their fourth weekly drop, after Chevron's warning about its second-quarter results prompted investors to sell some energy shares.

American International Group Inc. is reportedly consulting with the Obama administration about its plans to pay $235 million in retention bonuses to employees at the AIG's financial products unit. The insurance giant's plans are now being presented before White House compensation czar, Kenneth R. Feinberg.

The U.S. Federal Reserve on Friday said that continued improvements in financial market conditions had lowered demand for many of its emergency liquidity programs.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

U.S. stocks dropped on Friday on jitters that an economic recovery and corporate profits will be anemic, underscored by a Chevron warning about second-quarter results and a tumble in oil futures.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

The Dow industrials and S&P 500 dropped on Friday on jitters that an economic recovery and corporate profits will be anemic after Chevron warned about second-quarter results and oil futures tumbled.

Swiss bank UBS braced on Friday for a high-stakes trial in the United States next week that could force it to reveal secret client data, as a last-minute deal remained elusive.

The Dow industrials and the S&P 500 opened lower on Friday after Chevron Corp warned about second-quarter earnings, compounding worries about the energy sector's outlook amid a drop in oil prices.

The U.S. trade gap narrowed unexpectedly to $26 billion in May, the smallest since November 1999, as exports rose and domestic demand for foreign goods slumped, government data on Friday showed.

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The U.S. trade gap narrowed unexpectedly to $26 billion in May to the lowest reading since November 1999 as exports rose despite weak global demand and imports shrank, government data on Friday showed.

U.S. stock index futures pointed to a lower open on Friday after Chevron warned about second-quarter earnings, raising the specter of a weaker-than-expected second-half economic recovery and anemic corporate profits.

Treasury Secretary Timothy Geithner is set to propose on Friday giving securities and futures regulators authority to police the over-the-counter derivatives market, according to a document obtained by Reuters.

UBS AG Chief Executive Oswald Gruebel sent a memorandum to the bank's top executives on Thursday saying the bank could not comply with a U.S. government request to disclose the identity of 52,000 secret account holders, a source familiar with the situation told Reuters.

U.S. stock index futures pointed to a lower open on Friday after Chevron Corp warned about its second-quarter earnings, raising the specter of a weaker-than-expected second-half economic recovery and anemic corporate profits.

* U.S. stock index futures pointed to a lower open on Wall Street on Friday, as investors turned cautious after oil major Chevron Corp warned over its second-quarter earnings.

The price of nearly one in four U.S. homes for sale on July 1 had been sliced at least once since landing on the market, data compiled by real estate website Trulia.com showed on Friday.

U.S. Treasury Secretary Timothy Geithner is set to propose on Friday giving securities and futures regulators authority to police the over-the-counter derivatives market, according to a document obtained by Reuters.

UBS cannot comply with a U.S. request to disclose the identity of 52,000 U.S. secret account holders, the bank's chief executive Oswald Gruebel said in an internal memorandum, according to a source familiar with the situation.

UBS AG Chief Executive Oswald Gruebel sent a memorandum to the bank's top executives on Thursday saying the bank could not comply with a U.S. government request to disclose the identity of 52,000 secret account holders, a source familiar with the situation told Reuters.

(Corrects spelling of UBS chief executive throughout to 'Gruebel' from 'Grubel')

UBS AG Chief Executive Oswald Grubel sent a memorandum to the bank's top executives on Thursday saying the bank could not comply with a U.S. government request to disclose the identity of 52,000 secret account holders, a source familiar with the situation told Reuters.

American International Group is preparing to pay next week millions of dollars more in bonuses to dozens of corporate executives, a source familiar with the development said.