Chinese developers are commemorating the late Michael Jackson by building a scaled-down replica of his Neverland Ranch on an island off Shanghai, a state-run newspaper said on Friday.

The yen gained this week as the dollar's status as a global reserve currency came under scrutiny as China called for reform of the reserve currency system at a meeting of world leaders on Thursday. Experts tell CNBC the diversification debate will put pressure on the dollar in the long term.

Global stocks were lower Friday after Chevron's downbeat earnings outlook dragged oil prices and energy stocks down. Concerns about a global economic recovery have also dominated trade this week. Experts tell CNBC that the various stimulus packages have boosted the risk of defaults in developed economies.

With bad home mortgages  on the back burner, the big threat to the economy is now believed to be troubled credit card, commercial real estate and commercial industrial debt.

A  floor used by Madoff in the midtown Manhattan high-rise known as the Lipstick Building has been emptied out and put up for lease.

U.S. long-term fixed mortgage rates slid to a six-week low in the past week as a weakening
labor market dragged down the government debt yields used to peg home loan costs.

UK building society Nationwide is offering 125 percent mortgages to its existing customers that have fallen into negative equity and need to move home.

Global stocks rose on Thursday as the first big U.S. earner out the box, Alcoa posted a smaller-than-expected second-quarter loss, leading basic resource stocks soaring. Experts tell CNBC now's the time to hold some high beta stocks.

Thirteen people and an unspecified mortgage origination company are under indictment for a $100 million mortgage fraud scheme, Manhattan District Attorney Robert Morgenthau's office said Wednesday.

Demand for U.S. mortgages to buy homes and refinance loans bounced from seven-month lows last week, with average 30-year borrowing rates unchanged, the Mortgage Bankers Association said on Wednesday.

Global stocks were down again on Wednesday as Group of Eight leaders make their way to Italy to discuss the global economic downturn and ahead of the Alcoa's earnings, the first of U.S. companies to report second-quarter results.

With the housing market still sinking, buyers can get much more out of a million dollars than they could have years ago. Real estate experts tell CNBC about the deals around the country.

Soaring U.S. unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter as a record number of cash-strapped consumers fell behind on their bills.

Financing problems, falling incomes and a less-is-more attitude are making it hard to sell homes in the $1 million-$3 million range.

The developer of the World Trade Center site has threatened to go to arbitration to settle a monthslong impasse to rebuild ground zero.