BUSINESS

The Bank of Japan said Friday that it is further easing the monetary policy so that the economy could recover from deflation and grow more strongly.

PetroChina Co, the world's second largest oil and gas firm, reported a $6.21 billion profit in the first quarter on Thursday, giving the company a 5.8 percent increase compared to the same period a year ago.

Asian shares rose on Friday, tracking U.S. stocks which jumped overnight on strong U.S. housing data and earnings, but concerns over the health of European banks weighed on investor risk appetite after Standard & Poor's downgraded Spain's rating.

Gold struggled to make headway Friday as the euro came under pressure after Standard & Poor's downgraded Spain's credit rating, while investors waited for a monetary policy decision by the Bank of Japan later in the day for further trading cues.

Asian shares inched up Friday, tracking U.S. stocks which jumped overnight on strong U.S. housing data and earnings, but concerns over the health of European banks weighed on investor risk appetite after Standard & Poor's downgraded Spain's rating.

Sen. James Inhofe is launching an investigation of the U.S. Environmental Protection Agency over comments a top EPA administrator made about enforcement of environmental laws.

S&P downgrades Spain, citing debt worries.

The Marcellus Shale Coalition Thursday released suggestions it hopes will standardize how the oil and natural gas industry approaches future drilling operations, including the use of the controversial practice of fracking.

Nintendo revolutionized the gaming industry with its Wii console, which was the first commercial gaming device to incorporate motion-censored controls heavily into gaming. However, strong price cuts made to the Wii and the 3DS hand held video game device have lead the company to post its first annual loss in more than three decades, according to the Wall Street Journal.

Starbucks Corporation (Nasdaq: SBUX), the world's largest coffee shop chain, said Thursday its fiscal second-quarter profit jumped 18.5 percent on rising sales at stores open at least one year and higher efficiency.

Amazon.com (Nasdaq: AMZN), the No. 1 e-retailer, reported first-quarter results that easily beat analysts? estimates because of soaring sales of its Kindle Fire tablet.

Envision vast open desert, towering snow-capped mountains, and deep craggy gorges. Picture Buddhist temples, mysterious ruins, felt homes, and the caw of an eagle. Sprinkle on top of it all the legend Genghis Khan.

Take Your Child to Work Day 2012 is today. Here's a guide for unemployed parents who still want to teach their kids about the value of work and the dignity of making something of their lives.

The bond market focused Thursday on weak economic data while equity investors responded to news that an unexpectedly high number of people sought first-time jobless benefits, leaving both types of securities higher.

The final line-up for the London 2012 festival was announced on Thursday, with around 12,000 events happening across Britain in a major cultural celebration organized to coincide with the summer Olympic Games.

Macau casino operator Galaxy Entertainment Group Ltd plans to invest HK$16 billion in the second phase of its latest resort in the world's largest gambling destination.

Shares of InterDigital (Nasdaq: IDCC), a pioneer wireless software developer, tanked after missing first-quarter estimates, despite renewed reports it was engaged in a self-auction.

Barrick Gold Corp. (NYSE: ABX), the largest gold miner, said Thursday it sold its 20.4 percent stake in Russian company Highland Gold Mining Ltd. (London: HGM) for $130 million as it seeks to unload non-core business.

With Apple announcing on Wednesday the dates for its Worldwide Developers Conference (WWDC), people have already started to talk about the possibility of the event setting the stage for the debut of the mysterious iPhone 5. But while the WWDC conference has been used as a launching pad for two iPhones (the iPhone 3GS in 2009 and the iPhone 4 in 2010), 2012's event, which will go from June 11-15, is said to focus more on software, rather than speculation and rumors.

The first part in a saga of litigation and claims for damages following the BP 2010 Gulf oil spill is just days away from being finished.

Shares of Amazon.com (Nasdaq: AMZN), the No. e-retailer, rose slightly Thursday ahead of the company?s report of first-quarter results that might beat analyst estimates.

The Securities and Exchange Commission launched a probe on Thursday of a program by Chesapeake Energy Corporation (NYSE: CHK) that let its founder and CEO get an ownership interest in any well drilled by the second-largest U.S. natural gas producer.

A South African 15-year-old boy has been arrested in connection with the rape of an eight-year-old girl. The eight-year-old, whose name cannot be released, was also bitten and had her eyes gouged out.

Brazil's congress voted late Wednesday to approve a bill that eases regulations on how much forest farmers are required to preserve on their land, marking a victory for the country's influential agriculture lobby.

U.S. 30-year fixed-rate mortgage rates dipped to 3.88 percent in the week ending April 26, staying near record lows as the housing market remained mixed, mortgage financier Freddie Mac said Thursday.

HSBC Holdings PLC (NYSE: HBC) plans to cut more than 2,200 jobs in the United Kingdom, where it's most profitable, in a bid to lower costs and boost profit margins, according to published reports.

At a Groupon staff meeting held yesterday, CEO Andrew Mason had all-hands on deck to talk about how he believes that, since the company went public, it has been making an ass out of itself. While Mason may have been referring to the embarrassing restatement of its first quarterly results, staffers and business insiders are now looking at Mason himself as the root of the problem.

An Indiana teacher was fired from a Roman Catholic school after undergoing in vitro fertilization, which the Church strictly shuns, according to the Associated Press. The 31-year-old former educator, Emily Herx, is filing a lawsuit claiming that her termination last June was a result of discrimination. The case could spark serious legal controversy over reproductive rights and religious rights.

One World Trade Center, currently under construction in Lower Manhattan at the site of the 9/11 terrorist attacks, could end up being the tallest building in New York City, surpassing the Empire State Building as soon as next week. In honor of the construction process, EarthCam, an international webcam technology company, released a two minute-long time-lapse of the progression of the tower.