IBT Staff Reporter

Warren Buffett has said the hundreds of billions of dollars of taxpayer-funded bailouts of corporate America will eventually pay off.

Crude oil broke through the $80 a barrel ceiling repeatedly during the week but kept falling back as hedge funds placed big bets on the Euro's decline. The fiscal drama in Greece held global markets hostage much of the week as worries about the impact of the Greek crisis on the euro outweighed comments from Federal Reserve chairman Ben Bernanke about continued low interest rates in the U.S., pushing the euro down against the dollar and damping crude prices.

Germany and France have agreed to help Greece sell bonds in return for stronger efforts by Athens to slash its budget deficit, a Greek newspaper said on Saturday, but a senior German official denied the report.

The Civil Defense in Hawaii has urged all residents to prepare for a possible tsunami on Saturday, following a massive 8.8 magnitude earthquake off Chile which sent waves across the Pacific Ocean.

Hawaii announced a tsunami warning on Saturday , after a massive earthquake off Chile sent waves across the Pacific Ocean.

Prudential , Britain's largest insurer, is in advanced talks to buy the Asian arm of U.S. giant AIG , in what could be one of the largest overseas deals to date for a UK firm, sources familiar with the discussions said on Saturday.

Germany and France have agreed to help Greece sell bonds in return for stronger efforts by Athens to slash its budget deficit, Greek newspaper Ta Nea reported on Saturday, citing unnamed sources.

A suicide car bomber killed three policemen and a child on Saturday in an attack on a police station in a northwestern Pakistani town, police said.

Hawaii prepared to start evacuations ahead of a tsunami generated by a massive earthquake in Chile, a civil defence official on the U.S. island said on Saturday.

An Italian court on Saturday rejected a request from Silvio Berlusconi's lawyers to suspend a corruption trial against the Italian prime minister but adjourned proceedings to next month.

A media rights watchdog on Saturday urged Russia to publish details of its probe into the murder of a rights worker after the Russian press reported that suspects had been identified.

Iranian opposition leader Mirhossein Mousavi warned the legitimacy of clerical rule was waning due to its repressive measures, his website said on Saturday.

President Barack Obama sought on Saturday to spark momentum for a final push to revive his stalled healthcare overhaul, insisting that Americans cannot wait another generation for us to act.

A tsunami was generated on Saturday that could cause damage along the coasts of all the Hawaiian islands, the Pacific Tsunami Warning Center said.

Warren Buffett's Berkshire Hathaway Inc said fourth-quarter profit surged, helped by improved results from derivatives bets tied to global stock markets, though operating profit fell 40 percent as the weakened economy weighed on several businesses.

A massive magnitude-8.8 earthquake struck south-central Chile early on Saturday, killing at least 85 people, knocking down buildings, homes and hospitals, and triggering a tsunami.

Toyota Motor Corp's president will hold a news conference in Beijing on Monday to explain its recent recalls, Kyodo news agency reported, citing an announcement by the automaker's local unit.

Prudential , Britain's largest insurer, is in advanced talks to buy the Asian operations of bailed-out insurance giant AIG , sources familiar with the discussions told Reuters on Saturday.

Berkshire Hathaway Inc, Warren Buffett's insurance and investment company, reported a higher fourth-quarter profit, helped by improved results from investments and derivatives.

SeaWorld reopened on Saturday for the first time since a trainer was killed during a performance earlier this week, drawing over 2,000 visitors.

A proposal for a single bank supervision agency drawn up by the Senate's chief architect of financial reform looks unlikely to survive negotiations over a landmark bill, said a source familiar with the discussions on Friday.

A bold proposal by Senate Banking Committee Chairman Christopher Dodd to set up a single supervisor for U.S. banks looks doomed, said a source familiar with Senate committee discussions on Friday.

The Senate's chief architect of financial regulation reform said on Friday the Federal Reserve may not necessarily lose its authority to supervise banks, signaling a potential shift in his thinking.

Microsoft Corp made its most vehement and public attack on Google Inc on Friday, calling its internet rival's actions potentially anti-competitive, and urging victims to file complaints to regulators.

For executives at Bank of America Corp and Citigroup Inc, it pays to be just below the top.

Blackstone Group's chief executive Stephen Schwarzman was paid a salary of $350,000 for 2009, but did not take a bonus for the year, according to a regulatory filing.

Bank of America hired energy investment banker Oscar Brown away from Barclays Capital to be a managing director and head of its Houston investment banking office.

Ron Burkle accused Barnes & Noble Inc's board of putting the interests of its controlling family over those of other shareholders when it blocked his attempt to double his stake in the U.S. bookstore chain.

Greece's prime minister announced plans on Friday to meet German Chancellor Angela Merkel next week as signs grow that diplomatic efforts are under way to resolve his country's debt crisis.