Business

NEW YORK (Reuters) - More than fifteen Chinese companies whose shares trade in the United States, many of them favored by short-sellers, have yet to file required year-end forms with U.S. regulators and the shares could face more downward pressure as deadlines approach. Full Story »

TORONTO (Reuters) - Research In Motion's dismal results and failure to deliver exciting new devices on time pushed its shares down more than 20 percent on Friday and drew parallels with other fallen technology stars. Full Story »

HONG KONG - Italian fashion house Prada SpA is selling shares near the low end of the price range in its IPO, a person familiar with the deal told The Associated Press on Friday, as investors flee slumping stock markets and worry about paying Italian taxes. Full Story »

ST. PETERSBURG, Russia - Russian President Dmitry Medvedev on Friday challenged the legacy of his powerful predecessor, Vladimir Putin, condemning the centralization of economic and political power at the Kremlin in what was interpreted by some as an early campaign move ahead of next year's presidential election. Full Story »

SEOUL (Reuters) - Samsung Electronics and other Asian technology stocks tumbled on Friday on fears the sputtering global economy will crimp demand for computers and TVs and hurt earnings at chip and panel makers for the rest of the year. Full Story »

ATHENS/BERLIN (Reuters) - Greece's embattled prime minister sacrificed his finance minister on Friday to force through an unpopular austerity plan and avert bankruptcy, while EU powers Germany and France promised to go on funding Athens. Full Story »

ALEXANDRIA, Va. - A former bank executive was sentenced Friday to eight years in prison for her role in a $3 billion fraud scheme that helped topple her bank as well as one of the nation's largest private mortgage companies. Full Story »

PARIS (AFP) - French Finance Minister Christine Lagarde, the leading candidate to take over as head of the IMF global lender, will visit Washington next week, her ministry said Friday. Full Story »

NEW YORK (Reuters) - Best Buy Co agreed to settle a class-action lawsuit accusing the largest U.S. electronics retailer of job discrimination, paying a total of $200,000 to the nine named plaintiffs plus as much as $10 million for legal fees and costs. Full Story »

It makes sense that prospective buyers are becoming increasingly interested in foreclosures. After all, some of these properties--which accounted for 24 percent of home sales in May, by the way--are selling at up to 50 percent less than comparable homes. Interested in digging up a bargain home? Full Story »

Oil dropped to about $93 per barrel for the first time since February as the European financial crisis kept investors on edge. Here's how energy contracts traded. Full Story »

The Internal Revenue Service released a report this week containing the names of 275,000 nonprofit organizations which have been stripped of tax exempt status. A federal law enacted in 2006 requires nearly all tax exempt organizations to file a report with the IRS annually to retain federal not-for-profit tax exemptions. Unfortunately, the law only allows the tax exempt status be revoked when the required annual report is not filed for a period of three consecutive years. Full Story »

TONAWANDA, New York (Reuters) - General Motors Co said on Friday it would invest $65 million in existing engine plants in New York and Tennessee. Full Story »