MARKETS / FINANCE

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South Korea suspends 7 more ailing savings banks

South Korea's financial regulators on Sunday ordered the temporary closure of seven more savings banks as part of its efforts to prevent financial contagion in the country's volatile savings bank sector.

U.S. sports magnate charges against SEC unfounded: source

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The internal watchdog at the Securities and Exchange Commission has concluded that the accusations of investigative misconduct against the enforcement division by Dallas Mavericks basketball team owner Mark Cuban have no merit, according to a person familiar with the matter.
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Mark Cuban charges against SEC unfounded: source

The internal watchdog at the Securities and Exchange Commission has concluded that the accusations of investigative misconduct against the enforcement division by Dallas Mavericks basketball team owner Mark Cuban have no merit, according to a person familiar with the matter.
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EU ministers see need for stronger bank sector

EU finance ministers agreed on Saturday that European banks must be strengthened in the follow-up to July stress tests as a report said a systemic crisis in sovereign debt now threatened a new credit crunch.
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Trichet emotional as end of ECB stint nears

A moved Jean-Claude Trichet neared the end of 24 years of policymaking on Saturday after attending his last informal meeting of European finance ministers as head of the European Central Bank.
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Lehman in deal with Europe affiliate

Lehman Brothers Holdings Inc said in a statement that it reached a tentative agreement with its largest foreign affiliate Lehman Brothers International Europe , related to claims between the two.
U.S. Energy

Natural Gas: Can It Displace Oil in the U.S.?

The energy-thirsty United States is on the hunt for a game-changing energy source or energy usage technology -- and batteries and fuel cells are strong candidates. But their mass use could be 20 years away. Meanwhile, a conventional source may bridge that gap, or provide even more upside: natural gas.
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Global stocks rally on Europe hope, euro slip

Global equities rose for a fourth straight day on Friday, but the euro slid as hope Europe was finally getting a grip on the region's debt crisis was offset by lingering fears Greece is still at risk of default.
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Moody's to conclude Italy review within month

Moody's Investors Service on Friday said it would finish reviewing Italy's Aa2 sovereign currency credit rating for possible downgrade within the next month, adding Italy faces a challenging economic and financial environment.
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Europe propels Wall Street higher for week

Stocks rose for a fifth day in a row on Friday and the S&P 500 scored its best week since early July on signs euro zone leaders were acting together to limit any damage from its sovereign debt crisis.
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HSBC bank tellers in U.S. get new trial on bias claim

Four bank tellers at an HSBC bank branch in Brooklyn, New York will get a new trial on their claim that they were subject to a racially hostile work environment, thanks to a law passed in 2005 that lowered the threshold for establishing workplace hostility.
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Consumer mood up but outlook at 31-year low

Consumer sentiment in the United States rose in early September, but Americans remained very gloomy about the future with their expectations for the economy falling to the lowest level since 1980.
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Jury awards Gundlach $66.7 million in TCW battle

Star bond investor Jeffrey Gundlach was awarded $66.7 million by a jury over his messy divorce from money management firm Trust Company of the West, in one of the ugliest battles ever to grip the multitrillion-dollar bond-fund world.
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Analysis: Wary retailers play safe with holiday hiring

People looking for a temporary retail job this holiday season will have better luck at dollar stores and discounters than at department stores and middle market apparel chains, as the anemic U.S. economy keeps other retailers cautious.
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Don't Worry about Higher Royalties in Peru - Miner

A drive by Peru's leftist president to raise mining royalties should not derail multibillion-dollar investments, industry executives said, but they added that the final law must reflect the spirit of negotiations with companies.
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Software helps government track recovery funds

Inexpensive software and technology used mainly by intelligence agencies and law enforcement have helped limit fraud linked with $840 billion in federal recovery funds, a senior U.S. official said.
2012 U.S. Election

Could Jimmy Carter's Comments Doom Mitt Romney?

Former President Jimmy Carter appeared on MSNBC Thursday night and endorsed candidate Mitt Romney for the Republican Party's presidential nomination. Could the endorsement doom Romney's nomination chances?
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Zimbabwean Gold Mine Reports Big Output Jump

Gold miner Mwana Africa's Zimbabwe mine output has risen to a monthly average of 4,500 ounces, outstripping its targeted annual production rate, company executives said on Friday.

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