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Business News

Regulators shut down Park Avenue Bank in New York (AP) AP - Regulators shut down Park Avenue Bank in New York Friday, marking the 28th failure this year of a federally insured bank.Stocks end mixed after mixed economic reports (AP)

A trader works on the floor of the New York Stock Exchange, March 12, 2010.    REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS)AP - Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong.


WaMu reaches settlement with JPMorgan, FDIC (AP) AP - Washington Mutual Inc. has tentatively resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company's Chapter 11 bankruptcy, a WaMu attorney said Friday.Retail sales show surprising gain in February (AP)

In this Feb. 24, 2010 photo, a Gap store is seen in Paramus, NJ. Retail sales post surprising 0.3 pct February increase raising hopes economy gaining momentum. (AP Photo/Seth Wenig)AP - Retail sales posted a surprising increase in February as consumers refused to let snowstorms stop them from stepping up purchases for everything from clothes to appliances. The improvement provided hope that the recovery from the Great Recession is gaining momentum.


UBS says IRS has 20 Swiss banks in its sights (AP)

FILE - In this March 12, 2008 file photo, dark clouds hang above the Logo of the UBS (Union Bank of Switzerland) in Zurich, Switzerland. Embattled UBS AG has warned that Switzerland's financial industry is at risk unless lawmakers approve a tax treaty with the United States, and that other Swiss banks may be next to face pressure from U.S. regulators. (AP Photo/Keystone, Alessandro Della Bella, file)AP - Embattled UBS AG has warned that Switzerland's financial industry is at risk unless lawmakers approve a tax treaty with the U.S., and that other Swiss banks may be next to face pressure from American regulators.