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John Reed Says `I'm Sorry' for Glass-Steagall Repeal, Building Citigroup John S. Reed, who helped engineer the merger that created Citigroup Inc., apologized for his role in building a company that has taken $45 billion in direct U.S. aid and said banks that big should be divided into separate parts.

Buffett's `Wake-Up Call' to Berkshire Managers May Signal More Cost Cuts Berkshire Hathaway Inc.’s managers may deliver more cost cuts to Chief Executive Officer Warren Buffett after the billionaire replaced Richard Santulli as the head of a money-losing plane-leasing unit.

Dimon's Dad Quits Merrill to Work for Son's Brokerage, Brings Along Team If Jamie Dimon ever needs fatherly advice, he can turn to his newest employee: Dad.

Banks Thwarting Feinberg Pay Reductions by Changing Their Bonus Formulas Global leaders and regulators trying to rein in banker pay are proposing everything from clamping down on guaranteed bonuses to recouping compensation from prior years if losses mount. Largely unaddressed is the topic that stirs the most public ire: How much money is too much?

McDonald's Shaves Seconds Off Big Mac Orders to Hold On to Market Share At a McDonald’s Corp. test kitchen in an unmarked Illinois warehouse, next year’s menu plan for the U.K. has hit a snag. When the visiting British team adds wrap sandwiches, service slows.

Berlin Wall Collapse Sparks German Boom, Confounds Skeptics: Chart of Day The toppling of the Berlin Wall 20 years ago sparked a surge in German stocks and bonds, confounding economists who’d predicted the cost of unifying East and West Germany would stunt economic growth.

Shanghai Farmers Lose Fields as Disney Kingdom Creates `Crazy' Home Prices Walt Disney Co.’s newest castle may rise from the Shanghai fields where retired farmer Jin Xinmei and her husband grow Chinese cabbage, potatoes and strawberries to supplement their $103 monthly pension.

Ropes & Gray's Cutillo, Patent Lawyer, Accused of Fueling Insider Trading When Bain Capital LLC said it would buy 3Com Corp. for 44 percent more than the stock price, one unexpected beneficiary was Arthur Cutillo, an associate at the Ropes & Gray LLP law firm advising the private-equity company, according to the FBI.

Latvia Spares Currency, Devalues Economy to Save Path to Euro Membership Electronics and clothing stores at the Galerijas Centrs in Riga’s old town fly banners offering discounts of as much as 50 percent.

Energy-Trading Group Proposes Disclosures to Improve EU Electricity Market Electricite de France SA, the world’s biggest operator of nuclear reactors, and other French utilities have nearly finished a proposal to improve power-generation data that lags behind neighboring countries.

Tyranny of Distance Curbs Australian Hedge Fund Revival in Post-Madoff Era After a decade running Sydney-based hedge fund Commodity Strategies Ltd., founder Rob Holroyd is planning a move to New York or Switzerland in search of cash.

Buffett's Burlington Buy Includes CEO Who Engineered Top Railroad in U.S. Warren Buffett didn’t just buy a railroad when he announced his purchase of Burlington Northern Santa Fe Corp. He hired the engineer, too.

Sarkozy's `Grand Loan' Pits EADS Against Peugeot, Safran in Fight for Cash President Nicolas Sarkozy’s plan to spend between 25 billion euros ($37.3 billion) and 50 billion euros to reverse France’s declining industrial competitiveness has triggered a race for a piece of the pie.

Reclamation, Zimbabwe Plan to Mine Diamonds at Site of Human Rights Abuses New Reclamation Group Ltd. plans to form a venture with Zimbabwe to mine diamonds from a deposit that human rights groups have said has been the site of military atrocities, a copy of the agreement shows.

Allstate Sells Munis as CEO Wilson Says Governments `Not in Great Shape' Allstate Corp., the largest publicly traded U.S. home and auto insurer, is paring its municipal-bond holdings because state and local governments are “not in great shape,” Chief Executive Officer Thomas Wilson said.

Activision CEO Kotick Says `Warfare' Game May Outsell Top Hollywood Movies A battle against Russian nationalists may give Activision Blizzard Inc. the biggest entertainment release of the year, said Chief Executive Officer Bobby Kotick.

Lockheed May See $4.4 Billion in U.S. Missile Sales After Test Success Lockheed Martin Corp. may receive new orders for its cruise missiles worth as much as $4.4 billion after the weapon was successful 15 out of 16 times in recent tests, according to the U.S. Air Force.

Spain Beating Europe in Stock Market With 40% of Profit From Latin America Spain, suffering from the highest unemployment rate in Europe, is producing the best stock returns among countries in the region with shrinking economies as sales to Latin America grow.

Marsh & McLennan Chances for Deals Rise in Weak Economy, Duperreault Says Marsh & McLennan Cos., the second- biggest insurance broker, is capitalizing on the recession by buying companies that would have been out of reach in better times, Chief Executive Officer Brian Duperreault said.

Rogoff, Johnson, Rajan Say G-20 and IMF May Fail to Curb Global Imbalances The Group of 20’s effort to shift the global economy away from dependence on U.S. spending and Chinese savings may fail because the International Monetary Fund lacks the power to enforce its policy prescriptions, the IMF’s past three chief economists said.