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  • A federal judge in Miami authorized the Internal Revenue Service to request information from UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes, the U.S. Justice Department said Tuesday.

  • The U.S. Justice Department said it asked a federal court in Miami for an order authorizing the Internal Revenue Service to request information from Zurich-based UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes.

  • In response to record oil and gasoline prices, the U.S. House of Representatives on Thursday approved 402 to 19 legislation directing the Commodity Futures Trading Commission to use its authority, including the agency's emergency powers, to "curb immediately" the role of excessive speculation in energy futures markets.

  • Korea, Korean Flag

    South Korea's finance minister said on Thursday he preferred strengthening supervision of bank lending to directly controlling money supply as a means to cool hefty money supply growth, an online news provider reported.

  • Austrailia, Austrailian Flag

    Australia wants to tighten foreign-investment rules to curb Chinese takeovers of local miners, a national daily said on Thursday, as it emerged that China's Sinosteel was circling two Australian iron ore firms.

  • Two former Bear Stearns managers have surrendered to face criminal charges linked to the collapse of a hedge fund that bet heavily into subprime mortgages before the market collapsed, federal authorities said.

  • The indictment of two Bear Stearns hedge fund managers for securities fraud is expected to be announced later on Thursday in connection with a fund tied to the subprime lending market, CNBC has learned.

  • oil_rigs_AP.jpg

    Energy prices have been absolutely sizzling hot, more than doubling the last 12 months. And with heavyweights like Goldman Sachs predicting that prices will hit $150 a barrel by this summer, everyone -- from producers to governments to motorists -- has been obsessed with where oil prices are going.

  • Britain's financial watchdog said investors with significant short positions in companies issuing rights will have to disclose those positions, as it unveiled a review of the efficiency of the capital-raising process.

  • european_union.jpg

    The European Union’s competition commissioner, Neelie Kroes, delivered an unusually blunt rebuke to Microsoft on Tuesday by recommending that businesses and governments use software based on open standards.

  • russia.jpg

    Corrupt officials are raking off a sum equivalent to one third of Russia's annual budget, or $120 billion, a senior prosecutor was quoted as saying on Friday.

  • The U.S. Securities and Exchange Commission is investigating whether American International Group overstated the value of contracts linked to subprime mortgages, the Wall Street Journal said on Friday, citing people familiar with the matter.

  • intel_logo2.jpg

    South Korean regulators said on Thursday Intel had abused its dominant position in the local market and ordered the world's top semiconductor maker to pay a fine of about $26 million.

  • Andrew Cuomo

    Three large credit rating firms are close to announcing a broad deal with the New York attorney general to reform some of their core business practices, The New York Times reports.

  • China Merchants Bank, the country's sixth-largest bank, has agreed to buy control of Wing Lung Bank in a deal that values the small Hong Kong lender at $4.66 billion, beating out Australia and New Zealand Banking Corp for the tie-up. 

  • pharma_new3.jpg

    A cancer vaccine more than doubled the survival time of people with the most common and deadly type of brain tumor, U.S. researchers said.

  • Cell phone tower, telcom, telecom

    China Telecom and its state parent will pay more than $14 billion to buy a wireless network owned by the China Unicom group, entering a lucrative mobile arena in the first deal reached under Beijing's sweeping overhaul of the world's largest telecoms industry.

  • A former Credit Suisse investment banker convicted of leaking inside information about pending mergers was sentenced to 10 years in prison by a federal judge Friday.

  • John F. Marshall spent decades teaching at business schools and watching his students parlay his lessons into fortunes on Wall Street. But when he and another professor reached for some of those riches themselves, events took a startling turn, the authorities say.

  • Bear Stearns plans to turn over documents to securities regulators showing that financial giants like Goldman Sachs Group, Citadel Investment Group and Paulson & Co cut their exposure to the securities firm before its collapse, the Wall Street Journal reported on Wednesday.