IBT Staff Reporter

100051-100080 (out of 154954)

Lehman Brothers' whistle blower was ousted: report

Lehman Brothers Holdings Inc ousted whistle blower Matthew Lee just weeks after he had raised concerns with Lehman's auditor about the firm's accounting in 2008, the Wall Street Journal said, citing people familiar with the matter.

China denies yuan behind U.S. trade gap

China on Tuesday shunned mounting U.S. demands for a stronger yuan, saying again that its currency is not the cause of its big trade surplus and vowing to keep the currency stable to shore up exports.

Asian shares pare gains, dollar softer before Fed

Asian shares struggled to keep modest gains on Tuesday and the dollar gave ground as investors trimmed long positions ahead of a Federal Reserve policy meeting expected to repeat a pledge to keep rates low for a long time.

Asian shares firm, dollar holds ground before Fed

Asian shares rose modestly on Tuesday, with technology stocks nosing ahead, while the dollar held its ground ahead of a Federal Reserve policy meeting expected to reiterate a pledge to keep rates low for a long time.

Lawmakers press for action on China currency

President Barack Obama faced growing congressional pressure on Monday to get tough with China over its currency practices, one day after Chinese Premier Wen Jiabao brushed off accusations that Beijing was undervaluing its currency for an unfair trade advantage.

Barclays targeted UBS ahead of Lehman buy: report

Barclays Plc considered UBS AG its preferred merger target just weeks before it bought U.S. assets from the collapsed Lehman Brothers Holdings Inc , the Financial Times said in its online edition on Monday.

Marc Faber asks people to buy gold every month

Noted global investing advisor Marc Faber says people need to accumulate some gold every month as the yellow metal is the best bet against plunging currencies. He said since gold is the only 'currency and commodity' that can withstand economic turmoils and large fiscal deficits of nations, it is imperative that people continue to buy gold. Gold is the best and soundest investment in the world, he said.

Venezuela denies plans to censor Internet

Venezuela is not planning to censor the Web or to shut down social networking sites such as Twitter and Facebook, officials said on Monday, after President Hugo Chavez called for regulation of the Internet.

Euro ministers say have Greek aid plan if needed

Finance ministers from the 16-country euro zone agreed on Monday to mobilize financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would work.

Google sees mobile ad rates passing PC rates

Google Inc said that it expects the rates that companies pay for search ads on mobile phones could surpass the rates of its existing PC-based ad business thanks to the growing popularity of powerful smartphones.

Yahoo loses revenue chief to Web content start-up

Yahoo Inc's head of North American revenue and market development is leaving the company to join private online content start-up Demand Media, becoming the latest executive to depart the Web giant's ranks.

Eurogroup agrees rescue mechanism for Greece

Euro zone finance ministers agreed on Monday on a mechanism that would allow them to help Greece financially if needed, but revealed no details except that it would be without loan guarantees.

Wachovia in talks to settle probe: report

The Wachovia Bank unit of Wells Fargo & Co is in talks with the U.S. Justice Department to settle complaints relating to the alleged failure in bank controls that enabled Mexican exchange houses to launder drug money, the Wall Street Journal said, citing people familiar with the situation.

President would tap NY Fed chief under Dodd bill

The New York Federal Reserve Bank's president would become a political appointee and bank chiefs like JPMorgan Chase's Jamie Dimon could no longer sit on the board of their regulator under a proposal unveiled by the head of the Senate Banking Committee on Monday.

Phillips-Van Heusen to buy Hilfiger for $3 billion

Phillips-Van Heusen , owner of the Calvin Klein label, agreed to buy fashion brand Tommy Hilfiger from London-based Apax Partners in a $3 billion cash-and-stock deal to boost its presence in Europe and Asia.

U.S. broadband plan aims to boost speed, wireless

U.S. regulators released a blueprint for upgrading Internet access for all Americans, with Internet speeds up to 25 times the current average, expanded coverage and more airwaves for mobile services.

Ex-NY bank president first accused of TARP fraud

The former president of New York's privately held Park Avenue Bank was arrested on Monday on fraud charges, the first person accused of attempting to steal U.S. government bailout funds in the financial crisis.

Sen Dodd boosts Fed in new financial reforms

The Federal Reserve would take on a greatly expanded role in financial regulation under new legislation unveiled on Monday by a top Senate Democrat, in a push to move ahead with the regulatory reform that has been a top priority of President Barack Obama.

U.S. lawmakers press for action on China currency

President Barack Obama faced growing congressional pressure on Monday to get tough with China over its currency practices, one day after Chinese Premier Wen Jiabao brushed off accusations that Beijing was undervaluing its currency for an unfair trade advantage.

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