IBT Staff Reporter

U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows.

The 7.5 billion euro ($9.7 billion) rights issue by UniCredit SpA looks set to be almost entirely taken up, allowing it to meet tougher capital requirements being imposed on the euro zone's beleaguered banks.

EU states and the European Parliament have cancelled Monday's talks aimed at striking a deal to tighten laws on the $700 trillion derivatives market, after the states failed to settle on a negotiating position.

New York corporate financier Ron Perelman and his longtime business partner and best friend Donald Drapkin had a bad falling out when Drapkin left Perelman's company five years ago.

Google Inc's quarterly results fell short of Wall Street's heightened expectations for the holiday season as declining search advertising rates contributed to a rare miss, triggering a 9 percent slide in its shares.

Stocks were set for a slightly lower open on Friday after GE and Google results fell short of expectations and as investors looked for a resolution in the latest round of Greek debt talks.

America's No. 1 Mexican fast-food chain is ringing in 2012 with what may become its biggest menu refresh in years.

Prime Minister Viktor Orban abandoned plans on Friday to merge Hungary's central bank and markets regulator, the first concrete evidence that he is backing down in a dispute with the European Union that threatens to block a deal on financial aid.

Stock index futures dipped on Friday, indicating the S&P 500 may snap a three-day win streak after GE and Google results fell short of expectations and as investors eyed Greek debt talks for signs of progress.

European banks are preparing for a potential worsening of the region's sovereign and banking crisis, with many firms stockpiling cash and cutting back on loans to new clients as they seek to protect themselves against a possible seizing-up of financial markets.

Stock index futures dipped on Friday, indicating the S&P 500 may snap a three-day win streak after Google results fell short of expectations and as investors eyed Greek debt talks for signs of progress.

Japan's Sony and Panasonic both had their debt ratings downgraded on Friday by Moody's Investors Service, which cited concerns about continued losses in their TV divisions, two weeks ahead of their earnings announcements.

Greece and its private bondholders drew closer on Friday to a bond swap deal that would prevent the country from sinking into a chaotic default and ease the euro zone's debilitating debt crisis.

Europe's telecom shares have long been seen as safe houses when the wolf is at the door, but recession, fierce competition and costly network upgrades are huffing and puffing at their capacity to pay generous dividends.

A German court ruled against Samsung Electronics Co in a patent suit versus Apple, another leg in a long legal battle as the two technology giants jostle for top spot in the booming smartphone and tablet markets.

China is intensifying its cat-and-mouse pursuit of the 4 trillion yuan ($635 billion) investment trust industry, with credit risks on the rise as economic growth slows.

Samsung Electronics Co said on Friday a German court ruled against it in a patent lawsuit versus Apple over mobile technologies, part of a global legal battle the technology giants are waging.

Italy's goal of refinancing some 90 billion euros of long-term debt by the end of April is beginning to look within reach after months when the weight of its debt burden looked likely to tip the euro zone even deeper into crisis.

Samsung Electronics Co said on Friday a German court ruled against it in a patent suit versus Apple over mobile technologies, and the firm has yet to decide whether to appeal the ruling.

Being the most wired country in the world has opened the way for a new form of bullying in South Korean schools, with victims being forced to pay for Wifi access for their tormentors.

Greece and its private bondholders resume debt swap talks on Friday amid signs they are inching closer to a long-awaited deal needed to prevent a chaotic default by Athens.

U.S. venture capitalists opened their wallets a bit wider in the last quarter of 2011 than a year ago, but they're not quite as flush as their largesse would indicate.

Airbus insisted its A380 superjumbo is safe to fly after another set of cracks was discovered in the wings of the world's largest jetliner , though an engineering union said it was downplaying the issue and some Asian airlines said they would develop inspection programs .

The U.S. government shut down the Megaupload.com content sharing Web site, charging its founders and several employees with massive copyright infringement, the latest skirmish in a high-profile battle against piracy of movies and music.

China's factory activity likely fell for a third successive month in January, suggesting Beijing's pro-growth policies will remain in place despite early signs that the downward drift is slowing, a survey of purchasing managers showed on Friday.

The website has been charged with breach of copyright laws.

Volkswagen AG, which sold 8.16 million vehicles last year comes second.

Eastman Kodak Co, the photography icon that invented the hand-held camera, has filed for bankruptcy protection and plans to shrink significantly, capping a prolonged plunge for one of America's best-known companies.

The top Senate Republican urged Democrats on Thursday to set aside a bill aimed at stopping online piracy of movies and music, dealing yet another blow to controversial legislation that has pitted Hollywood against tech companies.