U2 front man Bono is to become one of six managing directors of a $1 billion media and entertainment fund in the US.

U2 lead singer Bono has appealed to the US not to become the political version of "a disco band" and lose its voice for equality around the world.

THE US market opened badly yesterday on the back of the United Airlines bankruptcy announcement and a downgrade by IBM.

PRESIDENT George W Bush is moving swiftly to revamp his economic team, with California financier Gerald Parsky among those under consideration for treasury secretary and former Goldman Sachs chief Stephen Friedman set to become White House economic adviser.

Bono is calling on the US to ease African nations' debt burden and help them fight the spread of Aids.

A shake-up of George Bush's economic team helped send US stocks higher despite a discouraging employment report.

Bono is calling on the US to ease African nations' debt burden and help them fight the spread of Aids.

THE London market managed to close with its head above the 4000 mark today, despite receiving a blow from Wall Street during afternoon trading.

The Senate approved a bill to provide government coverage of insurance losses from terrorist attacks, giving final clearance to the measure sought by the Bush administration since October 2001.

US Treasury Secretary Paul O'Neill has sought to reassure investors who have seen their retirement accounts shrink after a wave of corporate scandals that the government is working to ensure the economy remains sound.

President George Bush is due to discuss the prospects for growth in the US economy with Federal Reserve Board Chairman Alan Greenspan, White House spokesman Ari Fleischer said.

US Treasury Secretary Paul O'Neill is furious about corporate "crooks" and expressed doubt that a Senate proposal gave regulators enough power adequately to punish violators.

Reforms under way to improve corporate accounting standards and hold chief executive officers more accountable for corporate disclosures will boost investor confidence, said US Treasury Secretary Paul O'Neill.

US Treasury Secretary Paul O'Neill said it is too soon to announce new initiatives for aid to Africa following his 11-day trip to the continent, but he stressed that aid must have clear goals, and donors should delegate responsibilities to local leaders.

US Treasury Secretary Paul O'Neill said his upcoming Africa trip with U2 lead singer Bono is designed to help start reversing 50 years of poor performance in development aid.

Europeans and others who oppose US plans to reform the World Bank's aid program for the world's poorest countries are ignorant of basic finance principles, said US Treasury Secretary Paul O'Neill.

Treasury Secretary Paul O'Neill is sending a letter to Congress warning that extraordinary measures will be needed to prevent a federal debt default during the Congressional recess if the legislature does not act.

Reports say the US Treasury Secretary disagrees with the Bush administration's decision to put tariffs on imported steel.

US interest rates are expected to be cut to their lowest level for 39 years when the Federal Reserve meets.

The US Treasury is concerned about slowing growth in Europe and Japan.

TOKYO (AFX-ASIA) - Share prices closed lower in line with the steep falls on NASDAQ Friday, but were well off their lows near the close on positive comments from the ruling Liberal Democratic Party's Shizuka Kamei, dealers said.