GERMANY

All parties negotiating a new bailout for debt-strapped Greece agree that private creditors should be involved, but the details of how that would happen are still under discussion, Germany's finance minister said.

The IMF downgraded its forecast for US economic growth in 2011 to 2.5 percent from its prior forecast of 2.7 percent. The 2012 growth forecast was cut to 2.7 percent from 2.9 percent.

Moody's Investors Service on Friday threatened to cut Italy's credit ratings in the next 90 days on worries that a possible rise in euro-zone interest rates may derail the country's fragile economic recovery.

Moody's on Friday threatened to cut Italy's credit ratings in the next 90 days on worries that Greece's crisis may drive euro-zone interest rates higher and derail Italy's fragile economic recovery.

Moody's Investors Service on Friday said it may cut Italy's sovereign credit rating from Aa2, citing such challenges as reforming a rigid labor market while also facing the likelihood of rising interest rates.

The Dow and S&P 500 rose on Friday after France and Germany outlined an agreement to aid debt-burdened Greece, but analysts said a recent bearish trend may not be over.

Consumer sentiment worsened this month on renewed concerns about the outlook for the economy and as gloom about job and income prospects persisted, data showed on Friday.

The Dow and S&P 500 edged up on Friday after France and Germany reached an outline agreement to aid debt-burdened Greece, but the Nasdaq declined and analysts said a recent bearish trend may not be over.

Stocks rose in volatile trading on Friday after France and Germany said they reached an outline agreement to aid debt-burdened Greece, while a gauge of future U.S. economic activity was stronger than expected.

The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are playing with fire unless they take immediate steps to reduce their budget deficits.

German food store Lidl recalls frozen hamburgers after 8 children hospitalized in France.

Stocks jumped at the open on Friday after French President Nicolas Sarkozy hinted at a deal to resolve the Greek debt crisis that has hampered equities and worried investors over a possible credit dry-up.

A German teenager accused of stealing unreleased tracks of Lady Gaga and Justin Timberlake and selling them to fans was jailed on Thursday for 18 months. The 18-year old, who called himself DJ Stolen, operated from his parents' home. He was found guilty of computer break-ins by a court in Duisburg, Germany.

Stock index futures rose on Friday after French President Nicolas Sarkozy hinted at a deal to resolve the Greek debt crisis, which has hampered equities and worried investors over a possible credit dry-up.

The President of France Nicolas Sarkozy said he has pledged to resolve the Greek debt crisis and that a solution needed to be found quickly, by July at the latest; and that he and German Chancellor Angela Merkel are united in their resolve.

Stock index futures rose sharply on Friday after French President Nicolas Sarkozy hinted at a deal to resolve the Greek debt crisis that has hampered equities and worried investors over a possible credit dry-up.

The Philippines on Friday announced that it will send its World War II vessel to a borderline part of the South China Sea after China headed its coastal patrol vessels in the waters.

Mexican Central Bank Governor and IMF-contender Agustin Carstens rebuked his European counterparts on Thursday for reneging on their promise to back a non-European to head the fund and vowed to give emerging powers more say if elected.

Germany is no longer insisting on a bond swap that would extend Greek debt maturities by seven years as it pushes for a contribution from private bondholders to a new aid deal for Athens, the Financial Times reported.

An all-Canadian consortium expects its $3.8 billion bid for the Toronto Stock Exchange's parent to win regulatory approval even though the group would also absorb TSX's main competitor, a source close to the proposal said on Wednesday.

The U.S. Open begins on Thursday.