INVESTMENT

Goldman Sachs Group may sell part of its 4.9 percent stake in Industrial and Commercial Bank of China , the Wall Street Journal reported on Monday, citing people familiar with the matter.

Stocks surged around 7 percent on Monday after the Obama administration detailed a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and driving double-digit gains in financial shares.

Pimco will participate in the U.S. government’s newly unveiled public-private plan to remove toxic assets from bank balance sheets.

The Treasury, along with the Federal Deposit Insurance Corporation and the Federal Reserve, announced a Public-Private Investment program as one more step in the government bid to restore confidence in the U.S. financial system.

All is not lost for Wall Streeters deprived of their mega-salaries and lavish lifestyles following the financial tsunami that has wiped out so many jobs.

Investment bank JPMorgan Chase & Co said on Monday it had no plans to purchase new corporate jets or build an airport hangar until it has repaid the funds it got through the U.S. governments Troubled Asset Relief Program .

Intel is seeking permission from its shareholders to revalue worthless employee stock options, a controversial move that the world's biggest chipmaker says is needed to retain critical staff.

Short-selling should be regulated as some practices may create disorderly markets during extreme financial turmoil, a global body of supervisors said on Monday.

Stocks rose on Monday after the U.S. government released the highly anticipated details of a plan to clean out toxic assets from banks' balance sheets, a key part of the government's efforts to revitalize the recession-hit economy.

Intel Corp is seeking permission from its shareholders to exchange worthless employee stock options, a controversial move that the world's biggest chip maker says is needed to retain critical staff.

Intel Corp, a bellwether of the technology industry, announced an overhaul its employee compensation plan, including a freeze on top salaries and an exchange of underwater stock options.

JPMorgan Chase & Co and Deutsche Bank AG , which hold $1.2 billion of Capmark Financial Group Inc loans, are among banks demanding collateral in exchange for loosening terms that put it at risk of default, Bloomberg said, citing people familiar with the matter.

UBS , the world's biggest wealth manager, has axed a team of six private bankers in Singapore, who were managing wealth for Turkish clients, sources familiar with the situation told Reuters on Monday.

UBS , the world's biggest wealth manager, has laid off a team of six private bankers in Singapore who were managing wealth for Turkish clients, sources told Reuters on Monday.

The U.S. government will create an entity called Public Investment Corp. that will draw upon the resources of government agencies and private investors to buy risky loans and other assets which investors have shied away from purchasing, according to a report.

S&P 500 stock index futures rose at the start of electronic trading on Sunday after media reports detailed the U.S. Treasury's three-pronged bid to cleanse the financial system of toxic assets clogging banks' balance sheets.

French bank Societe Generale said on Sunday four of its bosses would give up stock options they had awarded themselves earlier this month causing public outcry because the bank is benefiting from state aid.

China's commerce minister said on Sunday that the country was still open to foreign investment after the government rejected Coca-Cola's $2.4 billion bid to buy top Chinese juice maker Huiyuan .

Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.

The Paris prosecutor's office has launched a preliminary investigation to see if BNP Paribas provided misleading information about investments in a fund buying Madoff-related products, a newspaper said on Saturday.

Private equity groups Hellman & Friedman, Bain Capital and TPG have each shown interest in the iShares unit from British bank Barclays , sources familiar with the situation said.