FOXNews: Business

A meeting planned for Oct. 7 has been moved to Oct. 23, giving European Union leaders more time to work on a plan to boost banks struggling amid the sovereign debt crisis.

AMMAN -(Dow Jones)- Iraq has resumed crude oil production from Rumaila South oil field after two blasts Friday night near an export pipeline forced a partial suspension of output from the field in southern Iraq, Iraqi oil and company officials said Monday.

LONDON -(Dow Jones)- The Baku-Tbilisi-Ceyhan oil pipeline is expected to pump 17.35 million barrels of crude oil in November, 2.5 million barrels less than the October program and a multi-month low, crude oil traders who had seen the loading schedule told Dow Jones Newswires Monday.

SAN FRANCISCO -- The Canadian dollar strengthened as much as 1.3% against its U.S. counterpart on Monday, as positive European sentiment prompted investors to sell safe-haven assets like the U.S.More | Talk | Read It Later | Share

NEW YORK -- The Standard & Poor's 500 Index rose 3% in afternoon trading Monday, touching 1,191.38, led by the energy, financial and material sectors. The market's broad gains stemmed from a French and German pledge to recapitalize Europe's banks.More | Talk | Read It Later | Share

Sources at Citigroup and Bank of America tell FOX Business that a potential $20 billion settlement could come as early as this week or next over improper mortgage practices and robosigning.More | Talk | Read It Later | Share

Barron’s is talking up junk-rated debt.  We have been expecting that some media outlets would begin to notice how the spreads over Treasury yields were growing and growing and now offer 10% yields in some cases.  This should only highlight more value in what has been a battered sector, even if there is no way to know if the true bottom has been put in.

MBIA and two top executives agreed to pay $68 million in cash to settle lawsuits accusing the bond insurer of misleading investors about its exposure to risky residential mortgage debt.

SAN FRANCISCO (MarketWatch) -- Technology stocks headed south Tuesday, swept down in a broad market sell-off sparked by financial worries in Europe, and J.P. Morgan warnings on the personal computer and software markets.

The news was announced by BofA Chief Executive Brian Moynihan, who appointed David Darnell and Tom Montag to the newly created positions of co-chief operating officers, with immediate effect.