Madoff Trustee Sues to Recoup $77 Million

Nearly $77 million could be available to Bernard Madoff's cheated investors if newly filed clawback litigation is successful.

Europe Turns to U.S. for Loans

The region's riskier companies are bypassing banks and investors at home and looking to the U.S. for loans, the latest symptom of Europe's financial turmoil.

TNK-BP Chief Quits Amid Tensions

Mikhail Fridman resigned abruptly as chief executive of TNK-BP, a sign of deepening tensions between BP and its Russian partners at their joint venture.

Wages in Chinese Cities Surge

Average wages for urban Chinese workers rose by double digits across various categories of employment last year, the National Bureau of Statistics said.

BP Investigated on Leak Estimates

Federal investigators are exploring whether BP lied to Congress about how much oil was leaking after the Deepwater Horizon accident, which could lead to more charges against additional current and former employees.

TNK-BP Chief Quits Amid Tensions

Mikhail Fridman resigned abruptly as chief executive of TNK-BP, a sign of deepening tensions between BP and its Russian partners at their joint venture.

Li Weighs Bid to Buy ING Unit

Richard Li, owner of Hong Kong's dominant fixed-line telecom company, has emerged as a prospective buyer of ING's Asian life-insurance business.

Europe Turns to U.S. for Leveraged Loans

The region's riskier companies are bypassing banks and investors at home and looking to the U.S. for loans, the latest symptom of Europe's financial turmoil.

Pakistan May Return to IMF for Funds

Pakistan may have to return to the International Monetary Fund for financial assistance this year amid an unstable macroeconomic situation, the nation's central bank governor said Monday.

Gold Poised to Regain Safe-Haven Status

Analysts say gold could regain its safe-haven status before the year-end, though investors should expect further near-term price volatility.

India Signs Deals With Myanmar

India is jostling for space in energy-rich Myanmar, signing as many as 12 bilateral agreements in an effort to play catch-up with well-entrenched rival China.

BOJ Concerned About Debt Purchases

Bank of Japan policy-board members expressed concerns that the central bank's massive purchases of government debt could be seen as financing the budget deficit, eroding confidence in fiscal policy and bringing about unwanted jumps in bond yields.

Spain Asks EU to Help Calm Fears

Concerns about Spain's ability to shore up fiscal gaps and overhaul an ailing banking system sent Spanish borrowing costs to a record high, prompting a new call from Prime Minister Mariano Rajoy for the EU to take action to calm market turmoil.

Disappointing May for IPOs

The U.S. IPO market looks to end May with just 10 deals, a choppy overall performance and a disappointing debut from Facebook.

Spanish Stocks Sink

Spanish stocks fell following a €19 billion bailout for Bankia, while Europe's benchmark index ended the day flat.

TV Lends a Hand in Birth of Magazine

While most magazine publishers may be thinking more about survival than launching new titles, there is a growth opportunity some still see—teaming up with TV networks on new titles.

Blair Denies Helping Rupert Murdoch

Former U.K. Prime Minister Tony Blair told a public inquiry that News Corp. chief Rupert Murdoch wielded "substantial power" in Britain but denied aiding the company's interests in exchange for political support from his newspapers.

A New Era for Bankruptcy in Japan

Japan Airlines soon is expected to emerge after less than three years in bankruptcy. Ashikaga Holding has been a classic "zombie company," taking nearly a decade to resume trading. That contrast could prove a tipping point for changing Japanese attitudes toward filing for bankruptcy.

Japan Auto Demand Surges

Toyota, Nissan and Honda reported surges in domestic production and sales for last month, highlighting their recoveries after last year's earthquake and tsunami.

Diageo Extends Foothold in Brazil

Diageo bought one of Brazil's biggest producers of cachaça, the country's best-selling spirit, as part of the U.K. drink maker's continued expansion into the Latin American market.