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Europe’s creditor countries struggled to bridge divisions over a rescue of Greece, seeking more control over how future aid is spent as the clock ticked toward a possible default next month. Stocks and the euro fell. In a replay of the brinkmanship that marked the early stages of the Greek crisis two years ago, euro-area [...]

U.S. initial jobless claims unexpectedly rose last week, a sign that the labor market is struggling to gain traction. Jobless claims increased by 1,000 to 427,000 in the week ended June 4, Labor Department figures showed today in Washington. Economists surveyed by Bloomberg News projected a drop in claims to 419,000, according to the median [...]

The World Gold Council’s first quarter report shows demand from China for gold jewelry jumped 21 percent year on year to 142.9 tons, but some fund managers are betting on diamond and gem set jewelry to give higher returns. “Gold no longer satisfies status demand, you need bling, you need something shiny, you need diamonds, [...]

International Monetary Fund chief Dominique Strauss-Kahn awaits his first court appearance on attempted rape charges after giving police permission to examine him for physical evidence of scratches and DNA from his accuser. The alleged attack on a 32-year-old female maid at a Sofitel hotel in midtown Manhattan occurred May 14, according to the New York [...]

Greece today will plead for a boost in its 110 billion-euro ($155 billion) bailout from European governments and the International Monetary Fund in talks clouded by the arrest of IMF Managing Director Dominique Strauss-Kahn. Europe’s donor countries, led by Germany, are demanding deeper budget cuts in exchange for granting Greece extra aid or giving it [...]

Johnson & Johnson (JNJ), the world’s second-biggest seller of health-care products, said profit fell 23 percent, hurt by mounting recalls of over-the-counter drugs and artificial hips. The company raised its full-year forecast. Net income for the first quarter dropped to $3.48 billion, or $1.25 a share, from $4.53 billion, or $1.62, a year earlier, the [...]

A surge in market volatility following Japan’s worst earthquake on record and a jump in oil prices may not be enough to keep investment-banking and trading revenue from falling for a fourth consecutive quarter. Analysts have lowered first-quarter earnings estimates at the biggest U.S. banks, saying trading revenue won’t rebound as much as they had [...]

Federal prosecutors are considering whether to pursue manslaughter charges against BP Plc (BP/) managers for decisions made before the Gulf of Mexico oil well explosion last year that killed 11 workers and caused the biggest offshore spill in U.S. history, according to three people familiar with the matter. U.S. investigators also are examining statements made [...]

U.S. regulators closed Chicago- based Park National Bank in October 2009 when it owed $345 million to one of the lowest-cost lenders in town: the Federal Reserve’s discount window. Park National had been a constant customer at the window for more than 18 months before it failed, records show. That glimpse into the loan program, [...]