5.96%QQQQ 48.07 0.68%NVDA 22.80 
3.87%
updated 9:56 am EST
Citigroup to shed $500B in assets
Citigroup Inc. said Friday it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive losses tied to deterioration in the mortgage and credit markets.
Stocks open lower as AIG reveals need for cash, oil surges
Stocks may go lower after the world's largest insurer reported a wider-than-expected loss for the first quarter.(9:34 AM EST)
Clear Channel Outdoor 1Q profit grows more than fivefold
Billboard advertising company Clear Channel Outdoor Holdings Inc. said Friday its first-quarter profit grew more than fivefold.(8:06 AM EST)
March trade deficit drops by bigger-than-expected amount
The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession.(8:34 AM EST)
GM to pay up to $200M to help end American Axle strike
GM is giving its parts supplier funds to help bring an end to a crippling labor dispute.(May 08)
Housing aid bill faces veto by President Bush
Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates.(May 09)
China producer price index up 8.1 percent in April
The key inflation indicator rose in April as a top economic official urged Friday for controls to cool further price increases.(7:20 AM EST)
AP File Photo
Oil nears $126 per barrel ahead of US driving season
Oil prices neared $126 per barrel Friday on the eve of the U.S. driving season as a weakening U.S. dollar drove investors to snap up commodities. Light, sweet crude for June delivery rose to a record $125.98 a barrel in electronic trading on the New York Mercantile Exchange near midday before falling back to $125.75, up $2.06 on the day, by the afternoon in Europe.Full Story
Quote of the Day
Vikram Pandit, chief executive officer of Citigroup
A large-scale overhaul of the mega-bank's structure will not likely as it seeks to stage a comeback from withering losses in the past year.
A large-scale overhaul of the mega-bank's structure will not likely as it seeks to stage a comeback from withering losses in the past year.
Latest Headlines
- German insurer Allianz 1Q net profit falls 65 percent
- Guinness brewing ops being consoldiated in Irleand
- China producer price index up 8.1 pct
- Chevron: 1,100 employees eliminated within reorganization
- More shoppers seeking shelter from economy in discounters
- Top 3 air carriers boost fuel charge by $20 roundtrip
- British Airways to shift more flights to new Terminal 5
Inside IBT
- 1 of 6
TECHNOLOGY
Gates: Microsoft shifts focus after Yahoo deal collapses
Microsoft Corp. will focus on growing its own advertising and Internet search after withdrawing its takeover offer.
ENTERTAINMENT
From couch to court, Gabriel Byrne charms in 'Camelot'
He can't sing and he can't dance, but Gabriel Byrne can charm, and he did while portraying King Arthur.
POLITICS & POLICY
UN halts aid to Myanmar after junta seizes supplies
A U.N. official says the World Food Program is suspending cyclone aid to Myanmar.
ENTERTAINMENT
Cosmetics Lancome and Uma Thurman in contract dispute
French cosmetics giant Lancome and Uma Thurman are wrangling over the use of her name and image.
INDUSTRIES
Chrysler unleashes Dodge Challenger
The 2008 Dodge Challenger was unleashed Thursday into an uncertain market.
POLITICS & POLICY
Oldest gorilla in captivity turns 55 at Dallas Zoo
A gorilla recognized as the world's oldest in captivity celebrated her 55th birthday.
TECHNOLOGY
Gates: Microsoft shifts focus after Yahoo deal collapses
Microsoft Corp. will focus on growing its own advertising and Internet search after withdrawing its takeover offer.
ENTERTAINMENT
From couch to court, Gabriel Byrne charms in 'Camelot'
He can't sing and he can't dance, but Gabriel Byrne can charm, and he did while portraying King Arthur.
POLITICS & POLICY
UN halts aid to Myanmar after junta seizes supplies
A U.N. official says the World Food Program is suspending cyclone aid to Myanmar.
Opening Glance: Shares of household durables drop
Household-durables stocks slipped Friday morning as crude-oil prices c... Full Story
77 more hepatitis cases may trace to clinic, officials say
Seventy-seven more people that were treated at a Las Vegas outpatient ... Full Story
Gold Investments Market Update
A firm note tracked the Gold price overnight and it is currently $888.... Full Story
Ahead of the Bell: US Solar Power companies
A Citi Investment Research analyst began covering shares of U.S.-based... Full Story
- Clear Channel profit surges, income flat from continuing ops
- S&P cuts Citizens Communications Ratings On Credit Measures
- Windstream 1Q profit rises 24 percent on customer growth
- Osiris Therapeutics Inc. announced today it entered in a deal with NuVasive Inc. to sell its business Osteocel for up to $85 million in upfront and milestone payments.
- Google's Brin 'excited' about working with Yahoo
ALL BUSINESS: Buffett says economic and credit woes linger
Warren Buffett's comments on the investment outlook usually resonate, ... Full Story
LA judge rules in favor of Notorious B.I.G.'s family
A judge has reinstated a wrongful-death lawsuit brought by the family ... Full Story
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