IBT Staff Reporter

Jobs data indicating that U.S. economic recovery might be picking up steam finally pushed crude oil futures decisively over the stubborn $80 a barrel threshold. Nymex's benchmark West Texas Intermediate settled Friday at $81.50 a barrel, a seven-week high, after topping $82 in intraday trading. An unchanged unemployment rate of 9.7% and a smaller-than-expected drop in payrolls propelled both stocks and commodities higher on Friday. Earlier in the week, industry job data also came out better than...

President Barack Obama said on Friday a forthcoming review of the U.S. nuclear posture would reduce the number and role of nuclear weapons in Washington's national security strategy.

Dozens of people were injured in clashes between Palestinians and Israeli forces in Jerusalem and the West Bank Friday, as tension over land and holy sites mounted ahead of a relaunch of U.S.-mediated peace negotiations.

Google Inc stepped up its assault on Microsoft Corp's productivity software business with the acquisition of a small start-up company that allows Microsoft users to edit and share their documents on the Web.

General Motors Co has offered to keep open 661 of its U.S. dealers once targeted for closure as it tries to shore up sales after emerging from bankruptcy last year.

Sarah Ferguson, the Duchess of York, announced plans on Friday to deploy an army of mothers worldwide as part of an Internet-based network to connect women in need with people ready to help.

Senator Christopher Dodd, chief negotiator for the Democrats in Senate talks on financial regulation reform, said on Friday he was uncertain whether bipartisan support for a compromise bill could be achieved.

Hewlett-Packard Co said it has lowered its first-quarter results by 3 cents a share as a result of years-old litigation involving EDS, which the company bought in 2008.

U.S. stocks finished the week strong as three unemployment reports this week offered no nasty surprises to market participants.

A number of reports suggested bad weather would adversely affect today's unemployment data, however actual figures show that may have been misguided.

Democratic Congressman Eric Massa (D-NY) on Friday announced he was retiring after the House ethics panel announced a probe into unspecified allegations against him.

U.S. employers cut fewer jobs than expected during snow-battered February and the unemployment rate held steady at 9.7 percent, bolstering views the economy was on the brink of creating jobs.

U.S. corporate borrowers amassed the most cash relative to debt on record through the fourth quarter and will likely preserve cash levels this year, supporting corporate bonds, Morgan Stanley said on Friday.

Stocks jumped and the Nasdaq hit an 18-month closing high on Friday as U.S. employers cut fewer jobs than expected last month and consumers showed signs of shedding their penny-pinching ways.

Giving by U.S. companies endured the worst recession in decades with mixed results as some pared back philanthropy in the face of tough times, others increased budgets and most predicted a steady 2010.

General Motors Co said on Friday it will offer reinstatement to 661 of its U.S. dealers that had been targeted for closure as part of its bankruptcy restructuring last year.

In bid to get more people to use Web-based applications, Google Inc. acquired DocVerse, a technology start-up that allows users to collaborate on Microsoft Office files online.

White House advisor Christina Romer, considered a top candidate for the job of Federal Reserve Vice Chairman, said on Friday she wants to stay in her current role.

MOSCOW (Reuters Life!) - Fashion designer and ex-model Daria Zhukova, the girlfriend of Russian billionaire Roman Abramovich, has opened a new exhibition celebrating Russian modern art at her refurbished Moscow gallery.

Travel firm TripAdvisor has come up with a list of the top 10 famous movie hotels, according to its editors. This list is not endorsed by Reuters.

The dollar soared against the yen on Friday after a government report showed U.S. employers cut fewer jobs than expected last month, boosting hopes a U.S. economic recovery was on track. The renewed optimism also encouraged investors to buy stocks and high-yield currencies such as the Australian and New Zealand dollars, while the euro rose as concern about Greece's debt crisis ebbed after Thursday's successful debt auction.

Kevin Rudd, the Prime Minister has presented the Government's National Health and Hospital Network for Australia's future report, saying that it is the most significant reforms to health and hospitals since the introduction of Medicare.

General Electric Co Chairman and Chief Executive Jeffrey Immelt declined a bonus for a second consecutive year, but his total compensation rose slightly from 2008, largely reflecting a change in pension values.

Two strong aftershocks struck Chile on Friday frightening Chileans who are recovering from the damages of a historical 8.8 magnitude earthquake on Feb. 27.

The Health Minister, Kim Hanes allows public patients on a more than 90 days waiting list to be treated in a public-private of private hospital

One of the most pressing food supply problem of the 21st century is about to be solved as Australian researchers believe that they are able to breed canola with the same omega 3 oils found in fish.

A declaration has been made by Queensland Health yesterday regarding the two dengue fever outbreaks in Townville last year, saying that they are confirmed to be over.

A federal court judge, Justice Christopher Jessup has ruled that the popular anti-arthritis drug Vioxx doubled the risk of heart attacks and was not fit for sale.

Coca-Cola Co , the world's largest soft drink maker, said it awarded Chairman and Chief Executive Muhtar Kent compensation worth $18.8 million for 2009, 16 percent below the $22.4 million he received in 2008.