Days after being rebuked by shareholders, Citigroup Inc Chief Executive Vikram Pandit and the bank's directors have been sued by a shareholder accusing them of awarding outsized pay to top executives.
Gold stayed nearly flat in thin trade on Friday, on track to log declines for two of the past three weeks as investors took to the sidelines ahead of a key U.S. option expiration and a Federal Reserve policy meeting next week.
Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.
With forces gathering on both sides of the Sudan-South Sudan border, it seems that the two nations are again headed toward all-out war, which would be devastating to both countries and their international partners.
Stocks rose on Friday, putting the S&P 500 on pace for its biggest weekly gain in the past five weeks, led by solid earnings from McDonald's, General Electric and Microsoft.
General Electric Co topped Wall Street's profit and revenue forecasts for the first quarter, helped by strong demand for energy equipment and railroad locomotives.
The two candidates with the highest vote totals in the first round will face each other in the deciding second round.
Chesapeake Energy Corp CEO Aubrey McClendon has been sued by a shareholder over potential conflicts of interest, after a Reuters report showed he had borrowed as much as $1.1 billion against his stake in thousands of company wells.
Stocks rose on Friday, putting the S&P 500 on pace for its biggest gain in the past five weeks, after earnings from a slew of bellwether companies propelled what has been a solid earnings season to date.
Three unions representing workers at AMR Corp's American Airlines would support a merger with US Airways Group Inc, calling it the best strategy and fastest option to complete a restructuring at bankrupt AMR.
Stocks rose on Friday, putting the S&P 500 on track to snap a 2-day drop, after better-than-expected results from Microsoft and General Electric Co propelled what has been a solid earnings season to date.
Three unions representing workers at AMR Corp's American Airlines would support a merger with US Airways Group Inc, calling it the best strategy and fastest option to complete a restructuring at bankrupt AMR.
In a seeming effort to profit from the latest European disaster, large investors are causing some unusual movements in the U.S. securities markets.
Stocks were poised for a higher open, putting the S&P 500 on track to snap a 2-day drop, after better-than-expected results from Microsoft and General Electric Co propelled what has been a solid earnings season to date.
Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.
Major emerging powers stood ready on Friday to pledge money to bolster the International Monetary Fund's crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase.
Stock index futures rose on Friday, indicating the S&P 500 may snap a 2-day decline, after quarterly results from Microsoft and General Electric Co propelled a solid earnings season.
Hungary is considering a new tax on phone calls and Internet usage which could yield up to 50 billion forints ($221.38 million) a year and would help plug budget holes, website Origo.hu reported on Friday, citing economy ministry sources.
General Electric Co reported first-quarter profit that topped analysts' expectations, helped by strong sales of jet engines and energy equipment, as well as profit growth at its finance arm.
Anders Behring Breivik, the right-wing extremist accused of massacring 77 people in Norway, has claimed that he polished his shooting skills by playing video games for over a year, before setting out slaughtering dozens of people in Norway's worst peacetime massacre.
China is poised to boost quotas on outbound investment schemes to $100 billion and cut barriers to moving foreign currency in and out of the country in a series of swift but small steps to crank open its tightly controlled capital account.
Major emerging powers stood ready on Friday to pledge money to bolster the International Monetary Fund's crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase.
German 10-year bond yields hit record lows on Friday and riskier assets came under pressure on growing fears about the euro zone debt crisis and uncertainty over global growth.
Asian shares fell and commodity-linked currencies such as the Australian dollar slipped on Friday after disappointing U.S. economic data stirred doubts about the strength of the recovery.
Large U.S. manufacturers are much more likely than their smaller peers to move production to the United States from China, according to a survey.
Dupont and Dow Chemical are among chemical firms working with global automakers who are bracing for a crunch in production, after a German chemical plant explosion cut a chunk of supply of a nylon resin used in brake and fuel systems.
The International Monetary Fund's bid to win a big boost in funding to handle the euro-zone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash.
A federal judge has narrowed Lehman Brothers Holdings Inc's $8.6 billion lawsuit against JPMorgan Chase & Co , potentially reducing how much creditors of what was once the fourth-largest U.S. investment bank may ultimately recover.
Stocks fell for a second day on Thursday as labor market data showed more signs of weakness, while a warning from Qualcomm and poor results from Stanley Black & Decker also discouraged investors.
PIMCO's flagship Total Return Fund was hit hard by investor redemptions in 2011, but this year it is a less famous fund at the world's biggest bond shop that is bleeding the most.
