MARKETS / FINANCE

Bank of America said it will not raise rates or change terms on consumer credit card accounts ahead of reform legislation slated to go into effect early next year, according to a letter released by a lawmaker on Tuesday.

Private equity firm OpenGate Capital and New York Daily News owner Mort Zuckerman have dropped out of the bidding for McGraw-Hill Cos Inc's BusinessWeek magazine, people familiar with the matter said, leaving Bloomberg LP and ZelnickMedia to vie for the money-losing asset.

The former head of New York's Liberal Party and a founding partner of Aldus Equity have pleaded guilty to taking part in a kickback scheme that corrupted how the state pension fund chose investment managers, state Attorney General Andrew Cuomo said on Tuesday.

U.S. consumers, who have been cutting their use of credit from all-time highs last year, are likely to keep reducing commitments if the trend continues in the latest report for August due tomorrow from the Federal Reserve.

Wall Street firms are changing their bonus policies, but the revisions are not cutting back the street's appetite for risk, according to a survey by eFinancialCareers.com

Broker dealers must be held to a higher standard if they provide financial advice to clients, regulators told lawmakers on Tuesday as Congress weighs changes to the U.S. financial regulatory system.

U.S. antitrust regulators have approved Adobe Systems Inc's deal to buy web analytics firm Omniture Inc, the Federal Trade Commission said on Tuesday.

Big oil producing nations denied a British newspaper report on Tuesday that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the U.S. dollar with a basket of currencies in trading oil.

Boeing Co , its reputation tarnished by the troubled 787 Dreamliner program, said on Tuesday it would delay the first flight and delivery of its 747-8 Freighter and take a $1 billion charge because of high production costs and tough market conditions.

Cisco Systems Inc's overture for Norway's Tandberg puts U.S.-based Polycom Inc in play as it is the only public company now left in the video conferencing market.

Boeing Co , its reputation tarnished by the troubled 787 Dreamliner program, said on Tuesday that it would delay the first flight and delivery of its 747-8 Freighter, news that further eroded the credibility of the world's No. 2 plane maker.

A group of investors led by Starwood Capital Group and private equity firm TPG have won the auction for assets of failed Corus Bank, in a deal that will see them invest about $554 million, a source familiar with the situation said on Tuesday.

The U.S. Federal Reserve must pre-emptively state it will not buy more Treasury bills in order to implement a cohesive exit strategy from the massive monetary bailouts it has provided, economic consultants Ian Bremmer and Nouriel Roubini wrote in an opinion column on the Wall Street Journal's website.

The Obama administration's pay czar plans to cut the cash salaries of the top employees at seven firms that have received large sums of government aid, in a bid to reshape their compensation packages, the Wall Street Journal said on Tuesday, citing people familiar with the matter.

Gulf Arab oil exporters will stay with the dollar as the currency for trading crude, a source in the United Arab Emirates central bank said on Tuesday.

Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.

Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.

U.S. Treasury Secretary Timothy Geithner on Tuesday called on the International Monetary Fund to provide rigorous surveillance to spot new investment bubbles and keep country foreign exchange policies in line with goals to rebalance the global economy.

A newspaper report that Gulf Arab states are in secret talks to replace the U.S. dollar in the trading of oil is wrong, Saudi Arabia's central bank chief said on Tuesday.

Ask, the search engine owned by IAC/InterActiveCorp, unveiled a new service on Tuesday to help consumers seek out coupons for saving money when shopping online.

Ask, the search engine owned by IAC/InterActiveCorp, unveiled a new service on Tuesday to help consumers seek out coupons for saving money when shopping online.

U.S. Treasury Secretary Timothy Geithner on Tuesday called on the International Monetary Fund to provide rigorous surveillance to spot new investment bubbles and keep country foreign exchange policies in line with goals to rebalance the global economy.

Firms ranging from airlines to agribusiness would be exempt from new rules on compulsory clearing of derivatives transactions under a bill in Congress aimed at tightening oversight of the financial system.

A tepid economic recovery should allow the U.S. Federal Reserve to keep interest rates at rock-bottom lows for a prolonged period, New York Federal Reserve President William Dudley said on Monday.

The world's first wind-up mobile phone has been created by the British firm TCL and is scheduled to launch in the first half of the next year, Telegraph reported on Monday.

Corrects word in fifth paragraph to lawful, not unlawful, as previously sent

A group of U.S. House of Representatives Republicans urged the Federal Communications Commission to conduct a market analysis before proposing a new rule to maintain an open Internet.

Activision is planning a Guitar Hero application for the iPhone and exclusive tracks specifically for new video games Band Hero and DJ Hero, Telegraph reported on Monday.

A tepid economic recovery should allow the U.S. Federal Reserve to keep interest rates at rock-bottom lows for a prolonged period, New York Federal Reserve President William Dudley said on Monday.