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| BBC News with Fiona McDonald |
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| Financial regulators in the United States have accused the investment bank Goldman Sachs of fraud related to the collapse of the American housing market in 2007. |
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| The Securities and Exchange Commission is taking civil action against the bank. |
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| Michelle Fleury sent this report from the floor of the New York Stock Exchange. |
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| The Securities and Exchange Commission alleges the bank sold investors a financial product based on subprime mortgages that was designed to lose value. |
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| Goldman Sachs has denied the allegations and says it will defend the firm and its reputation. |
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| This is the first time that the US government has explicitly accused one of Wall Street's premier institutions of fraud relating to the collapse of the US housing market. |
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| The Prime Minister of Thailand Abhisit Vejjajiva has put the head of the army in charge of national security as he fights a campaign by opposition protesters demanding that he step down. |
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| Mr Abhisit made his decision hours after the security forces publicly failed to arrest leaders of the rallies that have paralyzed parts of the capital Bangkok for weeks. |
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| Clashes last week during protests left more than 20 people dead. From Bangkok, here is Rachel Harvey. |
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| The prime minister said he was appointing the head of the armed forces General Anupong to take charge of national security in order to streamline operations. |
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| A government spokesman contacted by the BBC said the general would be better able to deal with what he calls the terrorist threat. |
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| "He now has the power to make decisions directly," the spokesman said. The move comes amid fevered speculation |
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| that the security forces might be planning another operation to evict protesters from the sites they are currently occupying in the commercial heart of Bangkok. |
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| Aviation experts have warned that a drifting cloud of volcanic ash from Iceland will continue to cripple air transport over much of Europe at the weekend. |
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| The European air traffic agency said there would be further significant disruption. |
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| Britain has extended the closure of much of its airspace until mid-day on Saturday. |
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| The International Air Transport Association said the disruption was costing airlines more than 200 million dollars a day. |
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| The number of people known to have died in the earthquake in Northwest China has risen to more than 1,100 with over 400 others still missing. |
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| Rescuers fear the figure is likely to rise again. Heavy earth-moving equipment has been used in the search for trapped survivors. |
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| In the worst-hit town of Jiegu, a former local official told the BBC that they badly needed supplies. |
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| "The security situation is good in the town. There is no looting or rioting. Security forces are out on patrol. |
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| The main priority for us is relief work to rescue people. We urgently need tents and food and drinking water. We urgently need these supplies." |
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| World News from the BBC |
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