UNITED STATES

The competing agendas of House Republicans and President Barack Obama are set to clash on Friday.

The White House has left open the possibility that alleged Sept. 11 mastermind Khalid Sheikh Mohammed may not be tried in Lower Manhattan as initially planned.

Japanese carmaker Honda Motor Co. announced Friday a voluntary worldwide recall of 646,000 cars following reports of defective parts of their window switch.

U.S. stocks rallied on Friday following better-than-expected data on the economy's growth and consumer sentiment, which suggested the recovery is taking hold, as well as stronger results in the tech sector.

Diversified U.S. manufacturer Honeywell International Inc set a first-quarter profit target that fell short of analysts' forecasts and its shares fell 4 percent.

Honda said it would recall a total 646,000 units of the Fit/Jazz and City models globally on Friday.

Toshiba Corp, Japan's biggest chipmaker, kept its outlook far below market estimates and flagged belt-tightening measures ahead after a stronger yen and sliding PC prices hurt quarterly profit.

Toyota Motor Corp faced U.S. Congress scrutiny over its biggest ever safety recall as rival Honda Motor Co, tipped to gain from Toyota's woes, also said it would recall thousands of cars worldwide.

U.S. stocks rose on Friday after GDP data showed the economy grew at a much faster pace than expected in the fourth quarter, while business activity in the U.S. Midwest hit a four-year high in January.

The U.S. economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest in more than six years, as businesses made less-aggressive cuts to inventories and stepped up spending.

Former Prime Minister Tony Blair made a defiant defence of the 2003 U.S.-led invasion of Iraq Friday, saying the September 11 attacks in the United States meant Saddam Hussein had to be disarmed or removed.

The US stock market is recovering from its loss yesterday as better than expected Gross Domestic Product for the fourth quarter of 2009 was reported at 8:30 am in New York. The S&P 500 Index is up 6.93 points, or 0.64 percent, to trade at 1,091.46 at 10:01 a.m.

Toyota Motor Corp faced scrutiny from Congress over its biggest ever safety recall as rival Honda Motor Co, tipped to gain from Toyota's woes, also said it would recall thousands of cars worldwide.

The U.S. economy grew more than expected in the last three months of 2009, growing at a better than expected annual rate of 5.7 percent in the fourth quarter, the U.S. government reported today.

World number one air bag and seatbelt maker Autoliv expects sales will rise strongly this year on demand from China and North America, as it posted above-forecast fourth-quarter earnings, sending its shares higher.

General Motors Corp announced plans on Friday to spend 15 billion baht ($455 million) in Thailand over the next two years, reviving plans for a new diesel-engine plant and retooling existing production lines.

Diversified U.S. manufacturer Honeywell International Inc said profit eased 1 percent, reflecting weak demand for aviation components and equipment used to heat and cool large buildings.

U.S. mortgage rates fell for a fourth consecutive week, with 30-year mortgages remaining below 5 percent, a closely watched mortgage survey showed Thursday.

Chevron Corp , the second-largest U.S. oil company, posted a 37 percent drop in quarterly profit as refining troubles offset gains from higher oil prices and production.

The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest pace in more than six years, as businesses reduced inventories less aggressively, the Commerce Department said on Friday.

U.S. stock index futures rose on Friday after forecast-topping profit reports from Microsoft Corp and Amazon.com Inc and ahead of a reading on the U.S. fourth-quarter gross domestic product.