SINGAPORE (Reuters) - Oil extended gains above $58 on Friday after climbing almost 4 percent the previous day, as a recovery in equity markets countered increasing signs of a global recession and slowing demand.

Original post by Reuters: Business News

LONDON (Reuters) - Royal Bank of Scotland is to cut 3,000 jobs worldwide in the next few weeks after the banking sector was rocked by the global financial crisis, the BBC reported on Friday.

Original post by Reuters: Business News

SUNNYVALE, Calif (Reuters) - Chipmaker Advanced Micro Devices stood firm on its financial forecast on Thursday, one day after Intel cut its fourth quarter revenue forecast by 14 percent, sparking fears about the PC industry.

Original post by Reuters: Business News

NEW YORK (Reuters) - Citigroup Inc shares fell to their lowest level in 13 years on Thursday, raising pressure on Chief Executive Vikram Pandit and the bank’s board to improve performance even as the global economy deteriorates.

Original post by Reuters: Business News

BOSTON (Reuters) - Anxiety is sweeping the hedge fund industry before a crucial deadline on Saturday, when investors angered by recent heavy losses are expected to demand the return of billions of dollars.

Original post by Reuters: Business News

HOUSTON (Reuters) - U.S. crude oil futures rose more than $1 after Thursday’s settlement, climbing higher after a late rebound in equity prices on Wall Street and a weakening dollar.

Original post by Reuters: Business News

WASHINGTON/BOSTON (Reuters) - Some the world’s richest hedge fund managers conceded on Thursday that their secretive investment industry would have to disclose more information to satisfy financial regulators.

Original post by Reuters: Business News

WASHINGTON (Reuters) - U.S. mortgage finance companies should soon adopt a foreclosure prevention plan developed by Fannie Mae and Freddie Mac to ease loan terms for troubled borrowers, the companies’ overseer said on Thursday.

Original post by Reuters: Business News

NEW YORK (Reuters) - Shares of Warren Buffett’s Berkshire Hathaway Inc fell below $100,000 on Thursday for the first time since October 2006, after the company revealed large unrealized losses on derivative contracts tied to the stock market’s performance.

Original post by Reuters: Business News

HOUSTON (Reuters) - U.S. crude oil futures rose more than $1 after Thursday’s settlement, extending the day’s earlier gain which was tied to a late stock rally on Wall Street.

Original post by Reuters: Business News