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

Obama to tap Yellen for Fed vice chair: source
WASHINGTON (Reuters) - U.S. President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.

Examiner sees accounting gimmicks in Lehman demise
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.

Bank reform talks fail, Dodd to go solo
WASHINGTON (Reuters) - Chances of a broad overhaul of U.S. financial regulation dimmed on Thursday after bipartisan Senate talks collapsed, jeopardizing a top Obama administration priority and boosting bank share prices.

Toyota discounts boost sales
DETROIT/WASHINGTON (Reuters) - Unprecedented discounts after a series of damaging recalls boosted Toyota Motor Corp's U.S. sales in early March, as U.S. regulators weighed new auto safety measures.

Asia stocks head for 5th week of gains
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.

U.S. "very close" to job growth: Summers
HOUSTON (Reuters) - White House economic adviser Larry Summers said on Thursday that the United States is "very close" to the point where job growth can begin. (Reporting by Chris Baltimore; editing by Carol Bishopric)

Citigroup sees return to sustained profitability
NEW YORK (Reuters) - Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.

Fed seen keeping "extended period" low rate vow
WASHINGTON (Reuters) - Lingering U.S. labor market weakness and nagging doubts about the solidity of the economic recovery are expected to keep the Federal Reserve committed to holding borrowing costs very low for a long time at a monetary policy meeting next week.

Movie "Avatar" has few fans among mining execs
NEW YORK (Reuters) - It's enough to make a mining executive grit his teeth or his kids to give him the silent treatment.