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Sen. Warren: No risky trading with insured deposits

Elizabeth Warren Pic

The big banks should not be able allowed to dip into FDIC-insured deposits to engage in risky trading activities, Sen. Elizabeth Warren, D-Mass., said on CNBC Friday, as she pushed for a new, modern-day bank breakup bill.

Fitch cuts France's rating on budget, economy woes

Francois Hollande

Fitch on Friday cut France's credit rating to AA-plus on an uncertain economic outlook amid the ongoing euro zone crisis and the need for structural reform, costing the monetary union's No. 2 economy its last major triple-A rating.

Wells Fargo beats the Street

Wells Fargo Logo

Wells Fargo, the biggest U.S. mortgage lender, reported a 20 percent rise in second-quarter profit on Friday as it set aside less money to cover bad loans.

Report - 10 UBS offices searched

Tax & Business Calculator

Prosecutors have searched 10 offices of UBS in Germany in connection with an ongoing probe of tax avoidance by the Swiss bank's German clients, the state prosecutor in Bochum said on Friday.

Two of Hollywood's greatest hits almost didn't make it

Bunny Rabbit

Sherry Lansing, former president of 20th Century Fox and CEO of Paramount Pictures, has revealed that two of her greatest film triumphs - "Fatal Attraction" and "Forrest Gump" - were previously passed on by several studios before reaching her desk.