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Asia stocks head for 5th week of gains

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SINGAPORE (Reuters) - Asian stocks edged up on Friday, heading for a fifth straight week of rises, with energy stocks firm as oil held above $82 a barrel and financials ticking higher after U.S. talks to force broad banking reform collapsed.

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S&P 500 hits 17-month high as banks lift Wall Street

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NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.

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Examiner sees accounting gimmicks in Lehman demise

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NEW YORK (Reuters) - Lehman Brothers Holdings Inc used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found.

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S&P 500 hits 17-month high as banks lift Wall St

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NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.

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Asia stocks dip on China tightening fears, yen up

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SINGAPORE (Reuters) - Asian stocks fell on Thursday as investors worried strong loan growth and quickening inflation in China would spur Beijing to tighten monetary policy sooner than expected, while the yen rebounded against major currencies.

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Best Buy bets on 3D TV, but no quick payoffs seen

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NEW YORK (Reuters) - While James Cameron’s 3D sci-fi epic “Avatar” took the box office by storm instantly, the road to success will be much longer for Best Buy Co Inc, which is making a big bet on 3D televisions this year.

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Geithner urges reform on housing finance market

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WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that “fundamental reform” of the government’s role in the housing finance market is needed and it will be next year before proposals are ready for Congress.

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Bets on economy lift Wall Street; banks, tech lead

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NEW YORK (Reuters) - Bank and technology shares lifted Wall Street on Wednesday on hopes a revival in business demand will boost corporate profits.

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China’s Geely secures financing to buy Volvo: report

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STOCKHOLM (Reuters) - The parent of China’s Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.

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Euro hurt by European woes; China data boosts oil

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HONG KONG (Reuters) - The euro and sterling were under pressure on Wednesday after renewed concerns about Europe’s fiscal problems but oil, copper and the Australian dollar were supported by China’s strong export and import data.

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