Goldman Sachs Group Inc (GS.N) would be due a payment of about $1 billion if troubled commercial lender CIT Group (CIT.N) were to file for Chapter 11 bankruptcy, according to a source familiar with the matter. Goldman would be owed the payment under a $3 billion rescue finance package it gave to CIT in June

Electronic readers could be the hottest gift this holiday season as a new crop of portable media devices begins to join iPods and other music players as must-have tech accessories. The number of readers bought will be closely watched by industry analysts in advance of the expected emergence of multimedia tablet PCs, which Apple and

Japan's Nikkei average fell 0.6 percent to hit an 11-week closing low on Monday, dented by shares of exporters on concerns over the fragility of the U.S. economic recovery and lingering worries about the yen's recent strength. But a surge in shares of Fast Retailing after it said domestic same-store sales at its Uniqlo casual-clothing

European shares fell in early trade on Monday, having hit a four-week closing low on Friday, with a fall in energy companies more than offsetting gains for miners. At 0713 GMT, FTSEurofirst 300 index of leading European shares was down 0.2 percent at 961.89 points. The index fell 1.9 percent to a four-week closing low

Asian stocks fell to a three-week low on Monday as soft U.S. jobs data heightened investor caution ahead of the third-quarter corporate results season, while speculation of an early interest rate hike boosted the Australian dollar. The U.S. dollar lost ground, drawing scant support from a weekend meeting of G7 ministers, and crude oil prices

George Papandreou and his Socialist Pasok party won Greek elections and gained a majority in parliament, defeating Prime Minister Kostas Karamanlis, who called elections two years early, official projections showed. PASOK's leader George Papandreou has promised a 3 billion euro ($4.36 billion) stimulus package on a platform of taxing the rich and helping the poor,

Rio de Janeiro's 2016 Olympics has raised the tantalizing prospect that Brazil's faded former capital, known for its beauty and high crime, will be rejuvenated into a modern, thriving city. Blessed with jaw-dropping natural wonders and passionate people, the Carnival city is in line for a multibillion-dollar Olympic overhaul that supporters say will unclog its

Many struggling British retailers are facing a worse Christmas than last year, when 15 major chains failed, according to insolvency specialist Begbies Traynor. The company said rising unemployment and fragile consumer confidence would result in many companies entering formal insolvency proceedings within a year. "Christmas 2009 could see just as many retail casualties as last

 — “Good guys” of IT security happy to stay in Cyprus — Have you seen that note at the bottom of emails we often ignore that says “this message has been checked by AVG”? Well, believe it or not, the $100 mln in sales that the company generates is booked through Cyprus, propelling the island

Two U.S. companies have so far shown keen interest to invest in Cyprus, following a presentation on the advantages of being in Cyprus conducted at the Harvard Club in New York by the Cyprus Investment Promotion Agency (CIPA). Commerce and Industry Minister Antonis Paschalides addressed the invitation-only event that focused on the financial services sector