IBT Staff Reporter

San Francisco Federal Reserve Bank President Janet Yellen, a monetary policy dove, tops President Barack Obama's list to be No. 2 at U.S. central bank, the White House said on Friday.

The pace of financial regulatory reform remains slow even as the global economy struggles to recover from a crisis that many say was caused by inadequacies in the current system, attendees at an annual financial conference said this week.

Washington Mutual Inc said on Friday that it reached a deal that will bring it roughly $6 billion and help resolve its bankruptcy, but it could leave shareholders in the cold.

The S&P 500 failed to sustain any meaningful rally on Friday, closing the day essentially flat before the Fed Reserve interest rate decision and statement next Tuesday.

Wells Fargo & Co said on Friday it is in talks with Baltimore officials that could avert further litigation by that city over the bank's mortgage lending practices.

U.S. retail sales rose unexpectedly last month despite heavy snow storms that were thought to have kept shoppers at home and bolstered hopes of a sustainable economic recovery.

Mixed consumer and retail data kept stocks near break even on Friday, but major indexes edged higher for a second straight week.

Opel workers demanded reassurances that its European brand will not be disadvantaged at the expense of sister brand Chevrolet, after Opel lost responsibility for the Russian region to an Asian arm of General Motors.

Jon Daurio, chief executive officer of mortgage investor Kondaur Capital Corp., recently offered a $4,000 check to Barry Culver for the deed to his Bryan, Ohio house.

Apple began accepting pre-orders for the iPad, its new touch-screen gadget, on Friday with an estimated 50,000 unites being sold in the first two hours.

Southern California prosecutors filed the first U.S. consumer protection lawsuit against Toyota Motor Corp on Friday, claiming it had engaged in fraud by hiding evidence of dangerous vehicle defects.

U.S. Secretary of State Hillary Clinton on Friday condemned an announcement by Israel this week that it approved plans for new construction in East Jerusalem, saying it sent a deeply negative signal about U.S.-Israeli ties.

During the U.S. Session, global assets made little progress as economic data failed to impress the market.

An Obama administration program to help struggling homeowners modify their mortgages has more than one million active borrowers,

Fertilizer maker CF Industries Holdings Inc on Friday said it will buy rival Terra Industries Inc for more than $4.6 billion in cash and stock after Norwegian rival Yara International ASA decided not to raise its offer for Terra.

U.S. states and cities may increasingly turn to deficit borrowing to deal with still sagging tax revenue and the pending loss of federal stimulus money.

Toyota Motor Corp was hit by a planned lawsuit by California prosecutors on Friday over vehicle defects and by renewed political pressure to cooperate with investigators on cases of runaway cars.

San Francisco Federal Reserve Bank President Janet Yellen is a leading contender to be nominated by President Barack Obama as vice chair of the central bank, a senior administration official said on Friday.

U.S. stocks stayed steady on Friday as data showing retail sales rose unexpectedly last month was offset by weaker consumer sentiment, sending mixed signals about the economic outlook.

Long time resident of the small Queensland community, Gilsens Road near the Noosa River and newcomers are in a state of anxiety as they suspect the sprayed agricultural chemicals at the nearby macadamia plantation may be detrimental to their health, their animals and the fish at the local hatchery.

Australian research suggests that smoking cannabis predisposes people to psychosis. The study published in the Archives of General Psychiatry involved 3,800 people born in Brisbane between 1981 and 1984, which were followed to assess psychosis development such as hallucinations up to the age of 21 years old.

Medicare dental scheme is spreading its wings nationwide, with latest figures of claims for pricey crowns and bridges in Victoria, Queensland and South Australia.

The recent damning report card released by the Indigenous doctors suggests that the Northern Territory intervention, which is focused on improving physical health, will likely be outweighed by its negative impact of psychological health, spirituality and cultural integrity.

Private equity firm Kohlberg Kravis Roberts & Co has filed to list $2.2 billion in shares on the New York Stock Exchange, moving forward in its long effort to become a publicly traded U.S. company.

Charmaine Dragun's unusual behaviour a few days prior her death was observed in symptoms seen in people altering the doses of anti-depressant medications and could trigger suicide, an inquest into her death has been told.

Toyota Motor Corp may keep aggressive discounts available for U.S. consumers beyond this month after unprecedented incentives sent its U.S. sales sharply higher in early March, an executive said on Friday.

U.S. stocks barely changed on Friday as data showing retail sales rose unexpectedly last month was offset by weaker consumer sentiment, sending mixed signals about the economic outlook.

MGM Mirage said on Friday it will sell its 50 percent interest in the Borgata Hotel in Atlantic City in a settlement with New Jersey, which objects to the casino owner's partner in a separate venture in Macau.