(Reuters) - Societe Generale said it would cut costs and sell assets to free up 4 billion euros in fresh capital on Monday, although the surprise move failed to stem a sell-off in French bank shares, driven by fears of a Greek debt default. A rapid decline in French bank stock prices since the beginning of the summer has led to speculation that the French state may have to intervene and recapitalize its banks, in the same way as the British and other governments were forced to during the first wave of the financial crisis.

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(Reuters) - Chipmaker Broadcom Corp plans to buy NetLogic Microsystems Inc for about $3.7 billion to expand its lineup of chips used in wireless network equipment to take advantage of growing demand for mobile data services on devices such as cellphones. The $50-per-share deal, which represents a premium of 57 percent over NetLogic's Friday close of $31.91 on Nasdaq, sent NetLogic's shares soaring 50 percent in morning trading on Monday.

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(Reuters) - Growing fears of a Greek default sent a hurricane through heavily exposed French banks on Monday and hit the euro as investor confidence in the European currency area's ability to surmount a sovereign debt crisis ebbed. Shares in Societe Generale, BNP Paribas and Credit Agricole slumped by more than 10 percent amid expectations of an imminent downgrade by credit ratings agency Moody's, due largely to their exposure to Greek bonds.

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(Reuters) - Most Americans expect to spend less or the same on the holidays this year compared with last year, a survey showed on Monday, an early sign that retailers will have to try harder to win shoppers in the biggest selling season of the year. A whopping 82 percent of those surveyed by America's Research Group said they planned to spend less or the same as last year. Consumer spending accounts for almost 70 percent of the U.S. economy.

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(Reuters) - Berkshire Hathaway Inc expanded its succession plan for Warren Buffett on Monday, saying Virginia fund manager Ted Weschler will join the company early next year to help oversee its investments. Berkshire said Weschler and Todd Combs, who joined the company last year, would manage its entire equity and debt portfolio after Buffett retires, possibly aided by a third manager. The third manager has not yet been named. For a time Combs and Weschler will run smaller portions of Berkshire's stock holdings.

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(Reuters) - It's time for market regulators to clear the air on high-frequency trading, a top Big Board executive said. NYSE Euronext's (NYX.N) chief operating officer waded into the debate over rapid-fire, electronic trading with a call on Monday for regulators to say definitively whether there are problems -- and put a stop to the controversy.

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(Reuters) - Stocks fell sharply at the open on Friday after sources told Reuters that European Central Bank Executive Board Member Juergen Stark would step down from his post because of a conflict over the central bank's bond buying program. The Dow Jones industrial average .DJI was down 169.53 points, or 1.50 percent, at 11,126.28. The Standard & Poor's 500 Index .SPX was down 16.27 points, or 1.37 percent, at 1,169.63. The Nasdaq Composite Index .IXIC was down 28.02 points, or 1.11 percent, at 2,501.12.

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(Reuters) - European Central Bank Executive Board member Juergen Stark will step down from his post, because of a conflict over the ECB's controversial bond-buying program, sources told Reuters on Friday. The ECB confirmed Stark would be the second German policymaker to leave the bank this year after Bundesbank chief Axel Weber quit in February -- a move also spurred by his opposition to the bond program.

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(Reuters) - President Barack Obama, seeking to rescue a faltering economy and his own re-election prospects, began an uphill battle on Friday to win Republican support for a $447 billion jobs plan. The proposals, weighted toward tax cuts for workers and businesses, was carefully crafted to appeal to middle-class voters who gravitate toward the political center.

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(Reuters) - The United States pressed Europe's strongest economies on Friday to give "unequivocal" financial support to weaker euro zone states to overcome a debt crisis that threatens the world economy. "It is completely within the capacity of the stronger members of the euro area to absorb these costs," U.S. Treasury Secretary Timothy Geithner said as G7 finance chiefs gathered in Marseille to discuss how to revive a stalling recovery.

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