Major U.S. banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York. The paper said on Friday 18 banks, including Goldman Sachs Group (GS.N), Morgan Stanley (MS.N),

Apple Inc CEO Steve Jobs on Thursday revealed stronger-than-expected sales of 450,000 for the iPad since its much-hyped debut, and touted a phone operating system with a new advertising platform to compete with rival Google Inc's. Analysts expect sales of 1 million units or more for the device — touted as a new class of

Apple's iPad tablet computer hasn't been out a week yet but there are already over 830 video games that have been developed to suit the large format, high definition, multi-touch screen. That number doesn't even include the nearly 25,000 iPod Touch and iPhone games that will also play on Apple's latest gadget which is a

Federal Reserve officials again reiterated their commitment to low interest rates for "an extended period" on Thursday, given the fragile nature of the economic recovery, and suggested a reduction in the size of the central bank's balance sheet could take as long as two decades. Echoing remarks on Wednesday by Fed chairman Bernanke, Fed vice

Italy is not in the same situation as Greece and has shown a degree of resistance in the present difficult period, ECB president Jean-Claude Trichet said in an interview on Friday with Il Sole 24 Ore. "In particular it (Italy) has been able to contain its yearly public deficit," Trichet said. He said the ECB

Markets pounded Greek bonds and banking stocks on Thursday, driving the debt-stricken euro zone member's borrowing costs to new highs and pushing it closer to tapping a last resort EU/IMF safety net. The government struggled to reassure markets it can stay solvent after the premium that investors demand to buy Greek debt rather than the

Nokia will offer free music with its mobile phones in China, as it looks to emerging markets to boost the download service that is struggling to compete with Apple Inc's popular iTunes. The world's top cellphone maker will offer free music downloads from major labels and a number of independents at the Chinese launch for

Stock index futures fell on Thursday, following global stocks lower, as persistent fears over Greece's public finances unsettled investors worried about sovereign debt defaults in Europe. Markets pounded Greek bonds and banking stocks, driving the country's borrowing costs to new highs and pushing it closer to tapping a last-resort safety net. "Greece is the word

A nascent pickup in consumer spending has expanded beyond discounters to teen clothing chains and other store chains, according to the first batch of March sales reports from U.S. retailers. In what may be the strongest sign yet of revived consumer demand, analysts expect that March sales at stores open at least a year rose