Business

BRUSSELS (Reuters) - The $28 trillion credit default swaps market came under investigation on Friday by the European Union, adding to official pressures bearing down on a huge and opaque business that is widely blamed for aggravating the recent banking and euro zone debt crises. Full Story »

SEATTLE (Reuters) - Microsoft Corp shares fell as much as 5 percent on Friday, a day after the software company reported a dip in its Windows operating system sales. Full Story »

• Slideshow: Microsoft

NEW YORK/BOSTON (Reuters) - Former SAC Capital Advisors LP analyst Jonathan Hollander reached a settlement with U.S. securities regulators over allegations he engaged in insider trading in his personal account, while working at Steven A. Cohen's $12 billion hedge fund. Full Story »

NEW YORK - The dollar extended its slide against the world's other major currencies Friday on expectations that the Federal Reserve will keep interest rates low to nourish U.S. economic growth despite rising oil and food prices. Full Story »

OMAHA, Neb. - Berkshire Hathaway's first-quarter profits fell 58 percent because of an estimated $1.7 billion in pretax insurance losses from major disasters in Japan, Australia and the U.S. Full Story »

BRUSSELS - The European Union's competition watchdog is investigating the practices of some of the world's largest banks, as well as a clearing house and a financial data firm, in the market for credit default swaps. Full Story »

If you have to fill your gas tank this weekend – whether or not it takes a second mortgage to pay the tab – you’re a soldier in the hottest political fight over energy and the economy. Or maybe you feel more like “collateral damage” as President Obama, lawmakers, and “Big Oil” battle over who’s at fault for $4-per-gallon gasoline. Full Story »

GENEVA (AFP) - The Doha round of global talks aimed at expanding free trade is on the brink of failure, World Trade Organisation chief Pascal Lamy warned on Friday, with experts signalling that a collapse could even threaten the WTO. Full Story »

• Slideshow: World Trade Organization

NEW YORK - The CEO of discount retailer Target Corp. received a pay package in 2010 worth $23.9 million, 83 percent more than he made in 2009, because he became eligible for enhanced pension benefits and his stock awards rose as the company's performance improved, according to documents Target filed Friday with the Securities and Exchange Commission. Full Story »

Here's the good news: smaller homes are selling much faster in this market than the jumbling McMansions of 10 years ago. The bad news? Although buyers want a small home, selling one can be something of a challenge. Full Story »

OMAHA, Neb. - Berkshire Hathaway shareholders reject a measure that would have required the company's utilities to set goals for reducing greenhouse gas emissions. Full Story »

WASHINGTON - President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry. Full Story »

• Video: Exxon profits soar as consumers pay more AP
• Slideshow: President Barack Obama

COMMENTARY | The oil industry is enjoying record profits as the price for a barrel of oil soars to more than $110. Chevron posted its profit numbers for the first quarter. The numbers were tough to stomach. Chevron reported earnings of $6.2 billion ($3.09 per share -- diluted) for the first quarter 2011, compared with $4.6 billion ($2.27 per share -- diluted) in the 2010 first quarter. Full Story »