INVESTMENT

The Kuwait Investment Authority may boost its investments in Citigroup Inc and Merrill Lynch & Co, according to comments by the group's managing director.

Merrill Lynch & Co is negotiating to hire the former head of Goldman Sachs' asset management division, Peter Kraus to a position overseeing strategy, according Bloomberg.

Tokyo shares closed lower Wednesday as weakness in commodity-sector shares and a selloff of real estate stocks stalled a two-day rally, despite continued strength in financial stocks and gains at Matsushita Electric Industrial.

Citigroup, the largest U.S. Bank, is looking to raise an additional $3 billion in capital as it seeks to stabilize its finances, announcing on Monday that it is offering more stock to investors.

Gold futures fell sharply Tuesday, as the U.S. dollar strengthened against major currencies and declining oil prices pressured investment demand for the precious metal.

U.S. stocks rose on Monday for the fourth day after billionaire Warren Buffett financed the $23 billion takeover of Wm. Wrigley Jr. by privately held mars, and investor Kirk Kerkorian bought a stake in Ford Motor Co.

Prosecutors at the U.S. Justice Department are investigating Wachovia Corp, the fourth largest U.S. bank, about links to alleged drug laundering activities involving Latin American countries.

Treasuries fell on Friday as bets grew that the Federal Reserve will end it string or rate cuts at its next policy meeting.

A New York judge dismissed charges on Friday against Clear Channel Communications made by six banks in a case involving the sale of the radio station owner to a private equity group.

Hedge funds are losing money but that doesn't mean the $1.8 trillion industry is losing clients -- yet. Pension funds and endowments, whose big bets on hedge funds helped double industry assets in the last five years, are sticking with loosely regulated hedge funds for now, even as returns sag.

The head of Goldman Sachs Group Inc.'s mortgage department, Dan Sparks, unexpectedly quit the firm on Friday, according to media reports.

Charles Schwab Corp. said Friday its Chairman and Chief Executive netted $48 million from 10-year-old stock options that were about to expire.

Google confirmed Morgan Stanley's director as its new chief information officer (CIO).

Newmont Mining Corp. on Thursday posted a fivefold surge in first-quarter profit after the company benefited from surging gold prices and reduced costs; while its CEO warned the price of gold could reach $1,100 an ounce in 2009.

Triarc Companies Inc, the parent company of Arby's restaurants, agreed to acquire the Wendy's International Inc. fast food chain for about $2.3 billion in an all stock deal.

Intrepid Potash Inc, which produces the potassium compound for fertilizer, jumped more than 60 percent on its first day on the open market as investors bet on a boom for agricultural products.

EBay, the Internet auction leader, filed a suit on Tuesday against the Founder and CEO of web classified ads site Craiglist, alleging that their recent actions have unfairly diminished eBay's partial ownership of the site.

Gold futures surged on Tuesday after crude oil hit a new record high and the dollar dropped to a record against the euro, boosting the appeal of the precious metal.

By Julian D W PhillipsA derivative is a paper instrument founded on an asset. Its value is derived from that underlying asset, and it can be a purchase or sale of a commodity in the future

By Jon NadlerCommodities are in their seventh years of gains, with oil rising above $117 a barrel for the first time and rice rallying for a sixth day

China's stock market closed slightly higher on Monday as the China market watchdog issued new policy for share trading.