Witness for Kerviel: SocGen Must Have Known

Société Générale must have known Jérôme Kerviel was making the huge bets that ultimately cost the bank €4.9 billion, given the gigantic sums the trader was putting at risk, a witness for Mr. Kerviel said.

Toyota Readies Audi Contest

On Saturday, Audi and Toyota square off at Le Mans in a race that offers hybrid vehicles the first serious shot at winning one of the world's most watched races.

Hyundai Ramps Up in Europe

Hyundai Motor is expected to announce Friday it is ramping up production at its Czech plant to full capacity in the final stage of an expansion plan begun last year that saw the addition of a third shift and the hiring of 1,000 more workers.

Energy Pushes Down U.S. Prices

Consumer prices fell in May for the first time in two years on plunging gasoline costs. Separately, jobless claims rose and the U.S. current account gap widened.

Lower Supplies Launch Gas Futures

Natural-gas futures surged more than 14% after the government reported a smaller-than-expected increase in gas stockpiles last week, suggesting demand is stronger than forecast.

New York Fed Recoups Crisis-Era Loans

The Federal Reserve Bank of New York said it has fully recouped more than $70 billion in loans it made to support the 2008 bailouts of Bear Stearns Cos. and American International Group Inc., closing a contentious chapter in the central bank's history.

Chasing China's Shoppers

China is counting on rising consumer demand at home, as are Western exporters. But the country's middle class has nuances that distinguish it from its counterparts elsewhere, as companies are finding out.

Nasdaq Claims Strong Defense Against Facebook Lawsuits

Despite the acknowledged glitches associated with the Facebook IPO, firms considering legal action against the exchange operator face an uphill battle.

Rockwell Says 787 Impact Will Be Delayed

Rockwell Collins doesn't expect a big contribution to its financial performance from its role as a supplier for Boeing's 787 Dreamliner for two more years.

OPEC Keeps Status Quo

OPEC agreed to maintain its existing oil-production agreement, said people familiar with the matter, but several members signaled that the group could meet again soon if oil prices retreat much more.

Foreign Investment Surges

Foreigners are stepping up investment in the U.S. after retreating during the depths of the financial crisis, with the latest flurry spurred partly by Europeans seeking safe havens amid the Continent's debt crisis.

Blue Chips Jump 156 Points

U.S. stocks rallied as signs of a worsening U.S. labor market and European debt picture bolstered investors' hopes that central bankers will again come to the rescue.

Time Inc. in Deal With Apple

Time Inc. said its 20 consumer magazines, including Time, Sports Illustrated, and People, are now available for subscription on Apple's iPad.

Toyota Sees 25% Lexus Sales Gain

Toyota hopes to sell 250,000 Lexus vehicles in the U.S. this year, a 25% increase over last year, when production of the luxury brand was disrupted by natural disasters.

CEO Says BP Committed to Russia Despite Venture Exit

BP plans to remain in Russia despite earlier this month announcing it intends to sell its half of the TNK-BP joint venture, Chief Executive Bob Dudley said.

Bank of Thailand Keeps Rate on Hold

The Bank of Thailand's Monetary Policy Committee left its policy interest rate unchanged as expected, though it cited concerns about growth risks over and above price pressures.

New Corporate Bond Market Is Discussed

Big money managers and Wall Street banks are laying the groundwork for a new marketplace for corporate bonds.

Price to Show Premier League Soccer in U.K. Rises 69%

BSkyB and BT were awarded rights to show live Premier League soccer matches for the next three seasons after outbidding ESPN. The overall price for the rights rose 69%.

Turf War Erupts in Mobile Videogames

A pair of Japanese firms are taking on Zynga, and potentially Apple and Google, for control of the hottest segment of the videogame industry.

NBC Gets $1.8 Billion in Ad Commitments

NBC wrapped up its prime-time ad-sales deals for the coming TV season, negotiating about $1.8 billion in commitments despite continued weak-ratings performance.