Geithner scoffs at US downgrade talk; Gold hits record price - papers

Tim Geithner, the US Treasury secretary, shrugged off warnings from a leading ratings agency about the US public finances as he sought to reassure Wall Street that the world's biggest economy would be able to maintain its highly-prized AAA rating.

In a media blitz following the announcement by Standard & Poor's that it had revised its outlook on the US from stable to negative, Geithner said there was "no risk" of a downgrade. MORE...

Gold has smashed through the $1,500-an-ounce barrier for the first time, pushed higher by worries about global inflation, the European debt crisis and the state of the American economy. MORE...

The former head of a company that was once one of the largest US mortgage lenders has been convicted of fraud. MORE...

The £7.7m pay package awarded to Royal Bank of Scotland's chief Stephen Hester has been approved by the UK government. MORE...

News Corporation is in preliminary discussions with potential business partners, including the world's richest man, Carlos Slim, about entering a bid for Formula 1 motor racing. MORE...