MARKETS / FINANCE

Swindler Bernard Madoff should spend the rest of his life in prison, U.S. prosecutors argued on Friday, citing the unique scope and duration of his crimes as the leader of Wall Street's biggest fraud.

The Nasdaq rose on Friday, on strong demand for Palm's Inc's Pre smartphone, while the Dow was dragged lower by sliding oil prices and strength in some financial stocks helped cushion the S&P 500's decline.

Financier Allen Stanford will remain in a Texas jail at least until Monday as a federal judge reconsiders his $500,000 bond at the urging of prosecutors who say the accused swindler is a flight risk, according to a ruling on Friday.

The Nasdaq rose on Friday, helped by gains in smartphone maker Palm Inc while other indexes ended little changed in choppy trading.

U.S. consumer spending in May rose for the first time since February and savings hit a record high as federal stimulus measures boosted incomes, bolstering the view that the economy was close to emerging from recession.

The government unemployment checks keeping Candy Czernicki afloat are fast running out and her prospects of getting a new job appear remote.

Financier Allen Stanford will remain in a Texas jail at least until Monday as a federal judge reconsiders his $500,000 bond at the urging of prosecutors who say the accused swindler is a flight risk, according to a ruling on Friday.

Acer on Friday launched new line of desktops – the Aspire M5, M3 and X3 series -- designed to bring enjoyment of H235H premium display, a chic style and industrial blend with improve aesthetic and functionality.

Hartford Financial Services Group Inc said on Friday it has taken $3.4 billion of federal bailout money, the maximum it was authorized to accept, to bolster capital in the wake of large investment losses.

U.S. consumer spending in May rose for the first time since February and savings hit a record high as federal stimulus measures boosted incomes, while consumer sentiment edged higher in June, bolstering the view that the economy was close to emerging from recession.

A bidder has offered to pay $456,789 for a steak lunch with billionaire investor Warren Buffett, in a charity auction expected to be completed Friday night on eBay Inc's website.

The number of U.S. rigs working rose for a second week as improved crude oil prices lured back drillers even as natural gas activity weakened, according to figures from Baker Hughes Inc

U.S. consumer spending in May rose for the first time since February and savings hit a record high as federal stimulus measures boosted incomes, while consumer sentiment edged higher in June, bolstering the view that the economy was close to emerging from recession.

The Dow and the S&P 500 fell on Friday as a jump in the savings rate indicated that the debt-burdened consumer may not drive the economy out of recession as fast as hoped, and a slide in crude futures prompted investors to sell some energy shares.

General Electric Co Chief Executive Jeff Immelt said on Friday the United States needs to refocus its economy on manufacturing and exporting if it wishes to recover from a brutal recession.

AIG's American Life Insurance Company will restructure its western European businesses in order to generate cost savings, according to an internal document obtained by Reuters.

A U.S. recovery is likely to begin this autumn, the worst of the crisis has passed and it is reasonable to be optimistic for 2010, internet search giant Google's chief executive Eric Schmidt said on Friday.

Allen Stanford, who faces criminal charges related to a massive Ponzi scheme, was back in a Texas courthouse on Friday waiting to find out whether he can be released on $500,000 bail as the government fights for continued detention of the accused swindler.

A bidder has offered to pay $456,789 for a steak lunch with billionaire investor Warren Buffett, in a charity auction expected to be completed Friday night on eBay Inc's website.

Kenneth Lewis, Bank of America's embattled chief executive, retained the backing of a top lieutenant on Friday, when investment bank and wealth management chief Brian Moynihan called him the right person to lead the nation's largest bank.

The Dow and the S&P 500 fell on Friday as a jump in the savings rate raised worries the economic recovery will not make much headway if consumers stay frugal, and a slide in crude futures prompted investors to sell some energy shares.

Kenneth Lewis, Bank of America's embattled chief executive, retained the backing of a top lieutenant on Friday, when investment bank and wealth management chief Brian Moynihan called him the right person to lead the nation's largest bank.

U.S. consumer spending in May rose for the first time since February as government stimulus measures boosted income, while a consumer sentiment index in June edged higher, bolstering the view that the economy was close to emerging from recession.

U.S. consumer spending in May rose for the first time since February as government stimulus measures boosted income, while a consumer sentiment index in June edged higher, bolstering the view that the economy was close to emerging from recession.

U.S. stocks faltered on Friday as weak oil futures pressured energy shares and a jump in the savings rate raised worries the economic recovery will not make much headway if consumers continue to be frugal.

Wall Street looked set for a weak open on Friday with investors ready to take profits after stocks gained more than 2 percent in the previous session.

UBS has moved closer toward ending state involvement in the bank after it raised $3.5 billion of new capital, but must still settle U.S. legal problems and stem client withdrawals to return to health.

KB Home , the No. 5 U.S. homebuilder, posted a wider-than-expected quarterly loss on Friday and reported a year-over-year decline in orders, sending its shares down nearly 8 percent.

U.S. stocks faltered on Friday as investors booked profits and energy shares pulled back alongside oil prices.