IMF: US recovery to be gradual
The recovery of the weak U.S. economy is expected to take place gradually and officials should be prepared to inject more monetary and fiscal stimulus should the rebound falter, the International Monetary Fund said in a statement on Friday. Additional fiscal stimulus could also be used, although the immediate focus should be on implementing the current fiscal measures and monitoring their impact.

Lawmakers seek another $2 billion in cash-for-clunker aid
The Obama administration and Michigan lawmakers launched a plan this morning to add another $2 billion to the cash-for-clunkers program, after a surge of car sales drains the program's initial funds of $1 billion.

Southwest Airlines to bid for Frontier
Southwest Airlines said Thursday it plans to submit a $113.6 million bid to buy Frontier Airlines. The Southwest bid will top a $108.8 million offer made by Republic Airways in late June for the carrier.