World leaders expressed confidence in the global economic recovery on Friday despite fears about a debt default by Gulf emirate Dubai, while major banks played down their exposure to the debt.

Dubai, the member of the United Arab Emirates federation in deep financial straits, is struggling to meet debt obligations of up to $80 billion.

Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.

Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.

Lloyds Banking Group investors on Thursday overwhelmingly approved the bank's record rights issue but gave executives a grilling for mistakes made during the financial crisis.

Banks must disclose how much they pay top employees, a UK government sponsored report recommended on Thursday in a bid to quell public anger over "bonuses as usual" in a sector shored up by taxpayer bailouts.

AIG and former chief executive Maurice "Hank" Greenberg have reached an agreement to bury a long-standing, bitter legal battle, and the insurer will turn over materials for the former boss to use in writing a memoir, as well as photographs and a Persian carpet.

President Barack Obama is paying a price for a recession that began before he took office, and fellow Democrats have started to balk at his legislative agenda and demand greater efforts to create jobs.

There could be less jingle in the Salvation's Army's hallmark red kettles this season. The charity is testing kettles that take debit and credit cards.

Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Ken Lewis might have to stay past his planned Dec. 31 departure.

Greek bank shares fell as much as 7.0 percent on Wednesday, adding to earlier losses and underperforming the broader Greek market, on funding concerns after central bank comments on Tuesday.

As much as $7 trillion of debt piled up by banks falls due by the end of 2012, which could force them to refinance their borrowings at higher cost, the Wall Street Journal said, citing a Moody's Investors Service report.

Export-driven Asian economies need to focus on regional financial markets to rebalance as US policy remains uncertain and ‘very volatile’ and unreformed banks act as a brake on the huge flow of liquidity coming from central banks, Kevin Gaynor, chief markets economist at RBS, told CNBC Tuesday.

American International Group, the insurer that received billions of dollars in a U.S. bailout, has been authorized by its board to pay Chief Executive Robert Benmosche's $7 million compensation, after it laid to rest concerns that he may quit the post.

Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the US, IMF chief  Dominique Strauss-Kahn was quoted as saying.