IBT Staff Reporter

JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks.

Securities and Exchange Commission staff found apparent failures at each of the 10 credit rating agencies they examined, including Standard & Poor's, Moody's, and Fitch, the agency said on Friday in its first annual report on credit raters.

Hate mornings, especially on Mondays? You may be surprised to know that much of the world doesn't share that grumpy feeling.

French President Nicolas Sarkozy said on Friday he would meet German Chancellor Angela Merkel in the coming days in Germany to discuss Greece's debt troubles, calling support for Greece a moral obligation for Europe.

Bayer-drug Xarelto, or rivaroxaban, a standard blood thinning therapy, reduced the rate of heart attacks, strokes, myocardial infarction, and cardiovascular death in a study involving acute coronary syndrome (ACS) patients, the company said late Thursday.

Morgan Stanley won dismissal of a government pension fund lawsuit accusing it of defrauding investors in $1.2 billion of risky mortgage debt that it expected to fail.

Shares in Eastman Kodak Co. fell almost 60 percent on Friday on reports the company had hired a restructuring adviser.

The U.S. Securities and Exchange Commission's inspector general has concluded that Mark Cuban, the billionaire owner of the Dallas Mavericks basketball team, was not targeted inappropriately by agency staff in its insider trading probe against him.

Stocks were on course for their worst quarter in three years on Friday as economic data from China and Europe fueled fears of a global economic slowdown while Morgan Stanley plummeted on concerns about its exposure to European banks.

Anwar al-Awlaki, a U.S.-born cleric linked to al Qaeda, was killed in a CIA drone strike in Yemen on Friday, U.S. officials said, removing a global terrorist high on a U.S. wanted list.

Stocks fell on Friday as economic data from China and Europe fueled fears of a global economic slowdown while Morgan Stanley plummeted due fears about its exposure to European banks.

Internet companies such as Google, Twitter and Facebook are increasingly co-opted for surveillance work as the information they gather proves irresistible to law enforcement agencies, Web experts said this week.

The economy grew in July, the second straight month of expansion, setting the stage for a positive third quarter after the second-quarter's worrying contraction.

New York Gov. Andrew Cuomo may be considering different ways to revamp the state's Medicaid system after a panel on Thursday proposed a possible change allowing coverage of sexual reassignment surgery for transgendered residents under the health care insurance program.

When Irish rockers U2 took to the main stage at this year's Glastonbury music festival, a small but vocal group of activists raised a large balloon emblazoned with the words U Pay Tax 2?

Vancouver's Insite clinic, the only such safe-injection site for drug addicts in North America, can stay open, the Supreme Court of Canada ruled on Friday in a landmark defeat for the federal government.

Warren Buffett said on Friday he is still eager to buy companies and stocks, even as his conglomerate Berkshire Hathaway launches its first-ever share buyback program.

Stocks fell on Friday, putting equities on track for their worst quarter since 2008, as economic data from China and Europe fueled fears of a global economic slowdown.

Consumer sentiment improved in late September but worries persisted about jobs and finances which could curb household spending in the coming months, a private survey released on Friday showed.

With a verdict due on Monday, Amanda Knox is hoping to be acquitted and freed from her life in the Italian prison where she spent nearly four years of her life.

With a verdict due on Monday, Amanda Knox is hoping to be acquitted and freed from her life in the Italian prison where she spent nearly four years of her life.

Stocks fell on Friday, putting equities on track for their worst quarter since 2008, as economic data from China and Europe fueled fears of a global economic slowdown.

Morgan Stanley shares fell as much as 7.8 percent on Friday because of concerns about its exposure to European banks.

Ingersoll Rand Plc cut its profit forecast for the rest of the year on Friday, blaming weak demand in North America for residential heating and cooling systems and commercial security products.

With his allegations that Planned Parenthood has misused federal funds, U.S. Rep. Cliff Stearns, R-Fla., is taking out his frustration by lobbing malicious, unsubstantiated allegations, just like an elementary school bully who's angry that he lost a game.

The Federal Reserve will act if the economy weakens further and has the tools to do so, a top Fed official said on Friday.

With online business increasingly driving economic growth, developing nations' top priority should be the infrastructure their citizens need to get connected, delegates at an Internet conference in Nairobi said this week.

Warren Buffett's conglomerate Berkshire Hathaway Inc has begun its share buybacks, Buffett said on Friday, but the repurchases will not stop the company from also making acquisitions or spending on infrastructure for its portfolio of companies.

China will keep monetary conditions tight in its effort to rein in stubborn inflation, the country's central bank said on Friday, adding that containing domestic price pressures remains its priority.