IBT Staff Reporter

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Consumer spending and income rise in March

Rising gasoline and food prices lifted consumer spending in March and the increase in overall inflation from a year-ago was the largest in 10 months, government data showed on Friday.

Obama Declares Major Disaster in Alabama, Triggers Aid to State

President Barack Obama - who will tour an area in Alabama devastated by fierce and deadly storms on Friday - signed a major disaster declaration for Alabama on Thursday, a move which authorizes federal funds for the state to deal with the aftermath of deadly storms that have killed 305 people.

Euro zone inflation up, economic sentiment weakens

Euro zone inflation rose further above the European Central Bank's target in April, data showed on Friday, increasing the chances of another interest rate rise in June, despite a weakening of economic sentiment.

Nasdaq/ICE may go hostile for NYSE

Nasdaq OMX and IntercontinentalExchange are poised to go hostile in their bid for NYSE Euronext after shareholders ratcheted up pressure on the Big Board parent to get a better deal.

Dollar still friendless, stocks pause for breath

The dollar languished near three-year lows on Friday, weighed down by weak U.S. data and the prospect of ultra-loose policy for months yet, while stocks paused for breath and a strong commodities rally tailed off.

Daimler warns of headwinds from commodity prices

Daimler warned that commodity prices may rise by more than it bargained for in coming months and maintained its full-year outlook after posting stronger than expected first-quarter operating profit.

Samsung sees tough outlook, Q1 hits 2-year low on TVs

Samsung Electronics faces a challenging outlook after reporting its third consecutive fall in quarterly profit as it struggles to make ground on Apple Inc and faces a tepid recovery in its TV and flat screens business.

Silver and gold near lifetime highs

Silver and gold were within sight of historic highs on Friday and could resume an uptrend as the U.S. dollar held near three-year lows against a basket of currencies on hopes U.S. monetary policy would stay ultra-loose, keeping inflationary price pressures high.

Ailing dollar boosts demand for commodities, credit

The dollar floundered at three-year lows against a basket of currencies on Friday, keeping precious metals near record highs, although the risk of dealers covering bets against the beleaguered U.S. currency in thin trading looms, especially given holidays in some centers including Japan.

Renren revised IPO filing shows slower user growth

In the run-up to one of the hottest social media IPOs of the year, China's Renren Inc lowered the number of users it said it gained in the first quarter of 2011, raising questions about the rest of the information it provided to investors in official filings.

Superman Renounces U.S. Citizenship

Superman, the character long associated with 'Truth, Justice, and the American Way, is renouncing his U.S. citizenship in the latest issue of Action Comics.

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