LOSING CONFIDENCE: Standard & Poor's adjusted its assessment of the likelihood of a precipitous decline in profits at the two securities firms in the next few quarters
Standard & Poor's Corp, in a continuing sign of loss of confidence in investment banks' eroding profitability, put Goldman Sachs Group Inc and Lehman Brothers Holdings Inc on negative outlook on Friday.

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TAINTED FOOD: Italian authorities searched dozens of dairies and tested milk samples after higher-than-permitted levels of dioxin were found in 29 products
Makers of Italy's prized buffalo mozzarella took out full-page ads in Italian newspapers assuring consumers the cheese was safe after high levels of dioxin were found in some samples of buffalo milk.

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The IMF said on Friday that it was ratcheting up its scrutiny of sovereign wealth funds (SWFs) because of their rapidly growing financial clout.

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Bear Stearns' go-getting investment bankers used to chase million-dollar deals, but staff at the now hard-up Wall Street bank have resorted to auctioning off Bear Stearns-branded memorabilia to raise funds.

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Boeing Co says it has changed the design of a key part of its new 787 jetliner, but the company has not addressed rumors that the fix would contribute to further delays in the plane's first flight.

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