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  • DIARY - Top Economic Events to Aug 15 Friday, 1 Aug 2014 | 8:00 PM ET

    WASHINGTON- Swedish Finance Minister Anders Borg holds a press conference from the U.S.-Africa Leaders Summit in Washington- 1100 GMT. ATHENS- European Commission President Jean-Claude Juncker visits Athens and meets Greek Prime Minister Antonis Samaras- 0800 GMT. LONDON- Bank of England holds Monetary Policy Committee meeting.

  • Berkshire profit soars 41% to a record Friday, 1 Aug 2014 | 6:54 PM ET
    Warren Buffett

    Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit soared 41 percent to a record high.

  • Ex-banker sentenced in NY insider trading case Friday, 1 Aug 2014 | 5:53 PM ET

    Frank Perkins Hixon Jr., 55, was sentenced in federal court in Manhattan by Judge Ronnie Abrams. The government said Hixon generated a $260,000 profit by trading on information he knew because he headed an Evercore team advising on a deal by a liquid storage company to sell off some assets. Evercore fired Hixon in January after investigating his trades.

  • Business Highlights Friday, 1 Aug 2014 | 5:49 PM ET

    WASHINGTON— A sixth straight month of solid 200,000- plus job growth in July reinforced growing evidence that the U.S. economy is accelerating after five years of sluggish expansion. WASHINGTON— U.S. consumer spending rose at the fastest pace in three months in June, providing momentum for the economy going into the second half of the year.

  • Aug 1- Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit soared 41 percent, reflecting a substantial increase in investment gains and improved results in manufacturing, service and retail businesses. Net income rose to $6.4 billion, or $3,889 per Class A share, from $4.54 billion, or $2,763 per share, a year earlier.

  • Aug 1- Microsoft Corp sued Samsung Electronics Co Ltd on Friday, claiming the South Korean smartphone maker refused to make a royalty payment last fall on patent licenses after Microsoft announced its intention to acquire Nokia's handset business.

  • NEW YORK, Aug 1- A Saudi investor who accused Citigroup Inc of "virtually wiping out" his family's fortune cannot pursue a $383 million arbitration case filed against the bank, a U.S. appeals court ruled.

  • Microsoft sues Samsung in royalty dispute Friday, 1 Aug 2014 | 5:13 PM ET

    LOS ANGELES— Microsoft said Friday it is suing Samsung for threatening to stop paying Microsoft royalties for patents behind the Android operating system. Analyst Rick Sherlund of Nomura Securities has estimated royalties on its Android patents bring Microsoft nearly $2 billion a year.

  • Aug 1- Botox maker Allergan Inc on Friday accused rival Valeant Pharmaceuticals International and billionaire investor William Ackman of violating securities laws by using insider information as they prepared a takeover bid for the drug company.

  • Frank Perkins Hixon Jr., a former senior manager at the bank, was also ordered to pay $810,000 in fines and forfeitures to the government and $1.2 million in restitution to Evercore by U.S.

  • NEW YORK, Aug 1- Wall Street's worst week in two years was enough to get investors worried about whether a long-overdue correction is coming, but analysts are still leaning bullish. "The summer has been just tough because there has been very little to buy," said Kathleen Gaffney, portfolio manager of the Eaton Vance Bond Fund.

  • Rare summer relief for gasoline prices Friday, 1 Aug 2014 | 4:41 PM ET

    Prices may continue to slide in early August and post larger drops after Labor Day— as long as there are no hurricanes that halt production in the Gulf Coast or violence in the Middle East that disrupts crude supplies.

  • LinkedIn and Tesla are big market movers Friday, 1 Aug 2014 | 4:36 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:. Bally Technologies Inc., up $17.53 to $77.70. Procter& Gamble Co., up $2.33 to $79.65.

  • NEW YORK, Aug 1- Global equities markets dropped for a fourth day on Friday, with Wall Street again slumping as investors shrugged off economic data showing solid improvement in U.S. labor markets. U.S. stock trading was dogged by worries about Argentina's debt problems.

  • Govt meets goal for small business contracts Friday, 1 Aug 2014 | 4:30 PM ET

    Small Business Administration head Maria Contreras-Sweet made the announcement Friday. Those five were the Departments of Defense, Energy, Homeland Security and Justice and the National Science Foundation.

  • NEW YORK, July 15- After helping a girlfriend through the messy, tangled finances left in the wake of a parent's death, John Kerecz had a message for his own mom and dad: Get your paperwork in order.

  • US stocks have their worst week in two years Friday, 1 Aug 2014 | 4:21 PM ET

    NEW YORK— The U.S. stock market is closing out its worst week in two years. Traders moved money into investments traditionally seen as having lower risk Friday, such as U.S. government bonds, gold and utility stocks. The Standard& Poor's 500 index fell five points, or 0.3 percent, to 1,925. The S&P 500 lost 2.7 percent this week, the biggest loss since June 2012.

  • NEW YORK, Aug 1- Brent and U.S. crude futures tumbled on Friday to the lowest settlement prices in months, as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine. "Since June 23, the market's been going down," said Andy Lebow, vice president at Jefferies Bache in New York.

  • NEW YORK/ BUENOS AIRES, Aug 1- Argentina cannot turn its back on negotiations with holdout creditors after defaulting on its sovereign debt, a U.S. judge instructed on Friday, just as the country's failure to service a June interest payment was declared a "credit event."

  • NEW YORK, Aug 1- Apple Inc on Friday won preliminary court approval for its $450 million settlement of claims it harmed consumers by conspiring with five publishers to raise e-book prices.