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HARARE (Reuters) - Police in Zimbabwe have arrested British property tycoon Nicholas van Hoogstraten on charges of violating currency exchange rules, state media said on Saturday. Police detained van Hoogstraten, 63, after a night raid on his home on Thursday and charged him with levying rentals on properties in foreign currency, the official Herald newspaper reported. Zimbabwean law prohibits the ...

PARIS (Reuters) - Societe Generale Chairman Daniel Bouton told a newspaper the French bank would overcome its "shock" at having discovered an alleged $7 billion euro (5.2 billion pound) internal fraud. "We've experienced a shock but we will overcome it together," Bouton was quoted as saying by Le Figaro on Saturday. He also reiterated that France's second-biggest listed bank remained in a financia ...

Press Association26 January 2008, 5:00am Vote The City's financial watchdog was today accused of a 'systematic failure of duty' over crisis-hit mortgage lender Northern Rock. Critical: Treasury select committee chairman John McFall WANT TO KNOW MORE? What next for Northern Rock? News, analysis, predictions POLL: Should Northern Rock be taken into state hands? OTHER STORIES Pay rising at highest rate for 15 years Market report: Friday close S&N becomes lates ...

LOS ANGELES (AP) - KB Home Chief Executive Jeffrey T. Mezger has been awarded a $6 million bonus for his job performance in fiscal 2007, according to a regulatory filing Friday. The company's compensation committee also designated bonuses ranging from $350,000 to $450,000 for three other senior executive officers, according to documents filed with the Securities and Exchange Commission. KB's com ...

ST. LOUIS (AP) - The success of the federal $150 billion emergency economic stimulus plan will hinge on whether American consumers do what they do best -- spend, spend, spend. The stimulus has been debated in Washington for more than a week as the economic outlook worsened, and now Americans are armed with specifics: Individuals will get up to $600, working couples $1,200 an ...

Markets in Europe were mixed on the session. The pan-European FTSE Eurofirst 300 ended virtually even at 1,330.42. In Frankfurt, the Dax fell 0.06 percent to 6,816.74 while the Paris CAC-40 dropped 0.76 percent to 4,878.12 for its fourth consecutive weekly decline. On the other hand, Madrid’s IBEX was 0.26 percent higher to 13,141.1. In London the FTSE 100 was down 0.12 percent to 5,869 while the FTSE 250 dropped 1.2 percent to 9,738.5. Equities markets in the Asia-Pacific region were highe ...

OMAHA, Neb. (AP) - Billionaire Warren Buffett has donated stock in his company worth roughly $14.31 million Friday to several charities over the past six months. Buffett disclosed six different donations of Class B shares of Berkshire Hathaway Inc. in a filing with the Securities and Exchange Commission Friday. A total of 3,090 B shares were given away between Aug. 28 and the end of the year. Th ...

OMAHA, Neb. (AP) - Analog Devices Inc.'s President and Chief Executive Jerald G. Fishman received compensation the company valued at about $9.7 million in fiscal 2007, according to a Securities and Exchange Commission filing on Friday. Fishman, 62, received a base salary of $948,838 and no bonus. He received about $1.3 million in non-equity incentive plan compensation. He also received $5.1 mill ...

NEW YORK (AP) - Bond insurer Ambac Financial Group Inc. confirmed it is the subject of a federal securities class action lawsuit in a Securities and Exchange Commission filing on Friday. Ambac and other bond insurers have struggled over the past six months as the value of insured debt has plummeted. Ambac reported a loss of $3.26 billion in the fourth quarter after contracts it issued to cover cl ...

TRENTON, N.J. (AP) - Merck & Co. and Schering-Plough Corp. on Friday defended their handling of a controversial study released last week that raised questions about the effectiveness of cholesterol drugs Vytorin and Zetia. The study's findings have triggered potential class-action lawsuits in several states over allegations the companies misled consumers into thinking the drugs were more effe ...