New York - Investment banking firm Goldman Sachs Group Inc gained the potentially influential support of legendary investor Warren Buffett late Tuesday.
The announcement that Buffett's firm, Berkshire Hathaway Inc, would buy a 5-billion-dollar stake in Goldman Sachs comes as the investment banking firm is converting itself to a normal bank holding company, a decision reached this week to obtain greater access to loans from the US Federal Reserve. The conversion will place Goldman Sachs under greater government scrutiny.
Washington - The Federal Bureau of Investigation is examining possible criminal activity at 26 companies including recent bailout recipients Fannie Mae, Freddie Mac and American International Group Inc (AIG), according to media reports.
Major investment bank Lehman Brothers, which declared bankruptcy last week, is also on the list of firms in the FBI's probe of accounting and other possible irregularities, the Bloomberg financial news agency reported late Tuesday, citing a senior law enforcement official.
Singapore - Banks in Singapore that sold structured products linked to the collapsed US investment bank Lehman Brothers Holdings Inc have been asked to update investors on how much money they would get back, the Monetary Authority of Singapore said Wednesday.
The request was made after it was learned that investors who bought HSBC Holdings PLC's Lehman-linked Minibond Series and DBS Group Holdings Ltd's High Notes
5 could end up losing all their capital.
Washington - A US Senate committee on Tuesday approved the White House's plan for selling nuclear technology and material to India, bringing the agreement one step closer to passage.
The Senate Foreign Relations Committee voted 19-2 to approve the nuclear cooperation agreement, but the deal still faces challenges in the House of Representatives and is confronting a closing window of opportunity for passage as Congress nears recess ahead of the November 4 general elections.
New York - US President George W Bush Tuesday met with Pakistani President Asif Ali Zardari as the two countries seek to defuse tension over US military strikes in Pakistan.
"Pakistan is an ally, and I look forward to deepening our relationship," Bush said. "Your words have been very strong about Pakistan's sovereign right and sovereign duty to protect your country, and the United States wants to help."
San Francisco - Hoping to challenge the popular iPhone and carve out a dominant position in the transition of the internet to mobile networks, Google launched its first mobile phone Tuesday in the United States in conjunction with the German-owned carrier T- Mobile.
The new device, called the T-Mobile G1, functions on 3G networks and is specially designed to access popular Google services such as search, Gmail, maps with directions, and YouTube at high speed.
It also features a touch screen and a slide out keyboard - a feature that could give it an advantage over the iPhone.
New York - Investment banking firm Goldman Sachs Group Inc gained the potentially influential support of legendary investor Warren Buffett late Tuesday.
The Federal Bureau of Investigation is examining possible criminal activity at 26 companies including recent bailout recipients Fannie Mae, Freddie Mac and American International Group Inc (AIG), according to media reports.
Singapore - Banks in Singapore that sold structured products linked to the collapsed US investment bank Lehman Brothers Holdings Inc have been asked to update investors on how much money they would get back, the Monetary Authority of Singapore said Wednesday.
Washington - A US Senate committee on Tuesday approved the White House's plan for selling nuclear technology and material to India, bringing the agreement one step closer to passage.
New York - US President George W Bush Tuesday met with Pakistani President Asif Ali Zardari as the two countries seek to defuse tension over US military strikes in Pakistan.
San Francisco - Hoping to challenge the popular iPhone and carve out a dominant position in the transition of the internet to mobile networks, Google launched its first mobile phone Tuesday in the United States in conjunction with the German-owned carrier T- Mobile.
