NEW YORK/VIENNA (Reuters) - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday.
TORONTO (Reuters) - Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help the Canadian miner pay down its debt while expanding China's portfolio of commodity investments.
NEW YORK (Reuters) - With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors should have in an economic recovery.
NEW YORK (Reuters) - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company.
(Reuters) - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday.
TAIPEI (Reuters) - About 10 global and Taiwan financial firms have submitted bids to buy troubled AIG's Taiwanese insurance unit, newspapers said on Saturday, in a deal that could fetch up to over $2 billion.
LONDON (Reuters) - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week which landed the firm with a loss of nearly $10 million.
FRANKFURT/MUNICH (Reuters) - A Chinese automaker has offered to buy a stake in General Motors unit Opel, challenging a deal from Canadian auto parts supplier Magna, sources said on Friday.
LONDON (Reuters) - Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month's rally was overdone.
BEIJING (Reuters) - Wall Street may be down on its luck, but China's growing business hub, Shanghai, plans to install its own version of the Street's famed charging bull statue, casting in metal its hopes to eventually rival New York.
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U.S., U.K. and Austrian prosecutors are investigating a former fund manager they believe was paid more than $40 million in kickbacks to funnel billions of dollars of investments to Madoff.
Two law firms representing Latin American customers of Stanford Financial have filed a class-action suit against U.K. insurance broker Willis, contending that it shoulders partial responsibility for investors' losses.
Bouyed by domestic economic fundamentals, Brazilian stocks are poised for gains in the third quarter, although investors will have to live with periods of volatility.
Oil brokerage firm PVM Oil Futures identified the broker involved in unauthorized oil trades by the firm earlier this week, causing a loss totaling "a little under $10 million."
Trading on NYSE Euronext's U.S. equity markets closed fifteen minutes later than usual after officials extended the close following a connectivity problem.
Options traders managed to look past triple-digit losses in the stock market and took bullish positions in some companies that could be poised for upside moves.
The dollar gained versus the euro and most other major currencies, after a weak U.S. payrolls report encouraged currency players to shy away from risk.
Chinalco took up all of its allocation of rights in Rio Tinto's $15.2 billion raising and will maintain its position as the miner's biggest shareholder.
