IBT Staff Reporter

Berlin and Moscow agree that a stable euro is key for global financial stability and sustainable economic growth, German Chancellor Angela Merkel and Russian President Dmitry Medvedev said on Saturday.

Europe is close to completing stress tests on its banks to gauge their ability to withstand a market slump and the results should be published to help restore market confidence, top European Central Bank officials said on Saturday.

The euro zone is facing a period of zero growth if not recession, and the United States is heading for financial trouble, U.S. economist Nouriel Roubini was quoted as saying on Saturday.

The world's top economies scrapped plans for a universal global bank tax on Saturday, giving countries plenty of wiggle room over how to make banks pay for their bailouts in future.

Hungary's government said on Saturday it still aimed to meet this year's deficit target, as it sought to draw a line under exaggerated talk of a possible Greek-style debt crisis that had unnerved markets a day earlier.

Finance chiefs raced on Saturday to agree on ways to support growth and make global banks safer with a warning from Washington ringing in their ears that Europe and Japan must do more to boost home-grown demand.

The world's top economies were set to ditch plans for a universal global bank levy on Saturday amid signs of slippage in other reforms pledged during the financial crisis.

U.S. regulators seized three more troubled banks on Friday, including TierOne Bank of Lincoln, Nebraska, ticking up the total so far this year to 81 failures.

Treasury Secretary Timothy Geithner urged his Group of 20 counterparts to keep stoking global growth to counteract Europe's woes and put the onus on China, Germany and Japan to boost domestic demand.

Actor and environmentalist Robert Redford has weighed in on the U.S. oil spill crisis, condemning efforts by major energy companies to promote their environmental credentials and use their money to influence their parrots in Congress.

U.S. stocks could face further pressure next week unless investors get some relief from worries about Europe, jobs and the toll they might take on the economic recovery.

Hackers have planted viruses in video games for smartphones running on Microsoft Corp's Windows operating system, according to a security firm specializing in mobile devices.

Oracle Corp said it plans to fire more workers mainly in Europe and Asia as it integrates Sun Microsystems, resulting in post-acquisition restructuring costs that will be more than triple what it previously disclosed.

Verizon Wireless could be prepared to follow AT&T Inc's lead and change how it charges wireless subscribers to download data -- but analysts say other carriers may be better served by standing their ground in the latest pricing upheaval.

(Corrects title of NRDC in paragraph 2)Actor and environmentalist Robert Redford has weighed in on the U.S. oil spill crisis, condemning efforts by major energy companies to promote their environmental credentials and use their money to influence their parrots in Congress.

Former Lehman Brothers Holdings Inc chief executive Richard Fuld asked a judge on Friday to toss out an investor lawsuit that accused him and other Lehman officials of failing to disclose a controversial Repo 105 accounting technique used by Lehman.

Major League Baseball has asked a judge for a subpoena to help it identify people using Internet services provided by Charter Communications Inc to post pornography and other indecent material on the MLB.com website.

U.S. employers, who have been cautiously but steadily adding back workers amid evidence of a continuing economic recovery, are rethinking some hiring plans as they await the resolution of Europe's debt crisis.

Hiring by U.S. private employers slowed sharply in May, a setback for the economy's recovery, even as temporary census hiring pushed overall payrolls growth to its biggest increase in 10 years.

The possibility of a Hungarian debt crisis pushed the euro to a four-year low against the dollar on Friday and reignited fears more Eastern European nations could reveal financial frailties.

Shares of Internet firm AOL Inc rose in a broader market sell off on Friday as talk circulated that it may be an acquisition target for Microsoft Corp.

Wal-Mart Stores Inc plans to buy back $15 billion more of its shares and expects to add over 500,000 employees in the next five years as it increases its global presence.

Stocks cascaded to their lowest close since February on Friday after May's jobs figure slammed investors already reeling from worry over another developing debt crisis, this time in Hungary.

Chrysler is recalling more than 25,000 Dodge Caliber and Jeep Compass vehicles to address the risk that accelerator pedals could become stuck and cause unintended acceleration, the automaker said on Friday.

Stocks cascaded to their lowest close since February on Friday after May's jobs figure slammed investors already reeling from worry over another developing debt crisis, this time in Hungary.

Once vilified, street art now carries a vast amount of cultural cache. Gone are the days when spray paint on a wall signified blight

Stocks sank on Friday after the economy added fewer-than-expected jobs in May, while a possible new debt crisis in Hungary added to the gloom.

President Barack Obama said on Friday the gain of 431,000 jobs in May is a sign the economy is getting stronger, although there will still be ups and downs going forward.

McDonald's Corp has recalled at least 13.4 million Shrek-themed drinking glasses in the United States and Canada after consumers were warned to stop using them because they contain the toxic metal cadmium.