IBT Staff Reporter

Moody's Investors Service on Friday said it will make no changes for now to the ratings or outlooks of banks in the United Arab Emirates with exposure to the two Dubai entities whose debt problems have roiled global markets.

ABN AMRO, Goldman Sachs and World Online misled investors during the 2000 initial public offering of the Dutch Internet provider, the Dutch Supreme Court ruled on Friday.

COMEX December gold GCZ9 settled down $12.80, or 1.1 percent, at $1,174.20 an ounce on the COMEX division of NYMEX.

Oil prices settled down more than 2 percent at about $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.

Tareq and Michaele Salahi of Virginia have left many shocked with disbelief after getting past the Secret Service and into the state dinner at the White House on Tuesday.

Fears of a possible Dubai debt default rippled through markets for a second day on Friday, but the exodus from stocks and rush to the safe-haven U.S. dollar slowed as investors discounted contagion.

Space shuttle Atlantis and its crew of seven returned Friday, concluding an 11-day mission to deliver cargo to the International Space Station, bringing astronaut Nicole Stott back to Earth after spending 91 days in space. The shuttle touched down as scheduled at 9:44 a.m. EST under cloudless skies, guided by the commander, Col. Charles O. Hobaugh of the Marines, and the pilot, Capt. Barry E. Wilmore of the Navy.

U.S. shoppers turned out in strong numbers at the start of the holiday season on Friday to hunt for bargains, though many said they were spending more selectively.

As the world wrangles over how to fight climate change, with national leaders to meet in Copenhagen early next month, capital markets are gearing up to handle the consequences if the effort fails.

Iraq aims to install four new floating oil terminals and three new undersea oil pipelines that will boost export capacity to 8 million barrels per day from a current 1.9 million bpd, a top oil official said.

British Prime Minister Gordon Brown called Friday for the creation of a $10 billion a year fund to help developing countries battle climate change.

British banks have far greater exposure to potential problem debts in the United Arab Emirates than rivals in France, the United States, Japan or anywhere else, loans data show, as worries mount about the region.

Oil prices dropped over 2 percent to nearly $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.

U.S. stocks fell more than 1 percent in a truncated session on Friday as a possible debt default by a Dubai state-owned conglomerate led to fresh concerns about the global financial system.

The world is losing patience with Iran's behavior over its nuclear program and Tehran will be responsible for the consequences if it fails to meet its obligations, the White House said on Friday.

Mother of 14 children, Nadya Suleman, made headlines this year when she gave birth to octuplets told Good Morning America she is open to having more kids in the future.

Tata Motors, India's biggest vehicle maker, reported a return to operating profit for its British Jaguar Land Rover unit on Friday, as cost cuts begin to bear fruit and new models attract buyers.

Finnish liberal Olli Rehn will oversee efforts to revive Europe's economy and France's Michel Barnier will have an important role reforming financial services in the new European Commission unveiled on Friday.

U.S. stocks fell in Friday's abbreviated session as a possible debt default by a Dubai state-owned conglomerate fueled concern that the global financial system was not fully stabilized.

De Beers, the world's largest diamond producer, expects banks to renew its $1.5 billion debt facility before it comes due in March next year, the firm said on Friday.

German Chancellor Angela Merkel said Family Minister Ursula von der Leyen would take over as labor minister, replacing Franz Josef Jung who quit earlier on Friday after criticism of his role when he was defense minister.

Major department stores in the U.S. such as Macy's, JCPenney and Sears kicked off Black Friday deals on Friday including big discounts on fine jewelry.

The FIFA soccer World Cup trophy is making its way through various African countries down to South Africa, the host nation of the 2010 World Cup.

Rising fears of a possible debt default at a Dubai state-owned conglomerate is the catalyst for an overdue correction in equities and risk assets, the chief executive of top bond fund manager Pimco said in an interview on Friday.

Activision Blizzard Inc said on Friday its Call of Duty video game franchise pushed past the $3 billion mark in global retail sales.

Stocks fell more than 1 percent on Friday as a possible debt default by a Dubai state-owned conglomerate increased investors' uncertainty about the financial system's strength.

Oil prices dropped over 2 percent to nearly $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.

U.S. stocks fell more than 1 percent on Friday as a possible debt default by a Dubai state-owned conglomerate increased investors' uncertainty about the financial system's strength.

Canada's Constellation Software Inc said it is not able to accurately forecast future revenue and related operating profits of Trapeze ITS, its Switzerland-based unit providing software for public transit companies.