IBT Staff Reporter

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

Progressive Corp (PGR.N), one of the largest U.S. auto insurers, posted its first quarterly profit increase since 2006 on Friday as premiums and investment performance improved and it paid out a smaller percentage of revenue to cover claims.

U.S. President Barack Obama now is facing serious challenges over dealing with the settlement issues between Israel and Palestine.

Ford Motor Co (F.N) is focused on cash management with the economy still a major concern rather than the competitive positions of its U.S. rivals who have gone through bankruptcy, Ford's chief financial officer said on Thursday.

General Motors and its dealers will test a partnership with eBay Inc in California that allows customers to bid on new vehicles or buy them at a predetermined price online, the automaker said on Friday.

he International Energy Agency forecasted global oil demand will increase by 1.4 million barrels per day or 1.7 percent to 85.2 million barrels per day in 2010.Crude oil fell below $60 to $59.52 per barrel on the New York Mercantile Exchange Friday. Vestas Wind Systems announced Friday it has received two orders to deliver, install and commission a total of 38 wind turbines for two Chinese projects.

A new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers.

The world's most powerful countries have injected momentum into long-running negotiations over a new global free trade pact by setting a 2010 deadline.

G8 leaders pledged $20 billion (12.3 billion pounds) in farm aid to help poor nations feed themselves, surpassing expectations on the final day of a summit that has yielded little progress on climate change and trade.

A 6.0 magnitude earthquake that shook southwest China's Yunnan province on Thursday has killed one person and injured 325 people, Xinhua news agency said.

U.S. stocks dropped on Friday on jitters that an economic recovery and corporate profits will be anemic, underscored by a Chevron warning about second-quarter results and a tumble in oil futures.

Russian President Dmitry Medvedev warned the United States Friday that if it did not reach agreement with Russia on plans for missile defense systems, Moscow would deploy rockets in an enclave near Poland.

U.S. President Barack Obama arrived at the Vatican on Friday for his first meeting with Pope Benedict and what the White House says will be frank discussions on issues they agree and disagree on.

Moves to oust unpopular Japanese Prime Minister Taro Aso will intensify if, as many expect, his ruling bloc fares badly in a key local election on Sunday that is considered a bellwether for a coming national poll.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

Israel is ready to withdraw from areas of the Golan Heights, but it will not give up large parts of the occupied territory in any peace deal with Syria, a top aide to Israeli Prime Minister Benjamin Netanyahu said.

Rivals for power in Honduras held to their conflicting and seemingly intractable positions on Friday as hopes faded for a quick negotiated solution to the crisis triggered by last month's coup.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

Chinese riot police broke up a small demonstration by Uighurs leaving Friday prayers in a Muslim Uighur neighborhood of Urumqi, arresting several who were taken away with hands above their heads.

A new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers.

U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial sector and economy were at a low ebb, the Reuters/University of Michigan Surveys of Consumers showed on Friday.

The Dow industrials and S&P 500 dropped on Friday on jitters that an economic recovery and corporate profits will be anemic after Chevron warned about second-quarter results and oil futures tumbled.

Nestle's bottled water business is eyeing acquisitions in emerging markets to help end a slump which has made it the worst performer in the food giant's sales, Nestle Executive Vice-President John Harris said.

Chinese developers are commemorating the late Michael Jackson by building a scaled-down replica of his Neverland Ranch on an island off Shanghai, a state-run newspaper said on Friday.

The traditional media industry may be under fire as the weak economy crushes advertising spending, but companies and investors are scrambling to stake out territory in the new world of mobile content.

Hundreds of mourners attended a funeral on Thursday for two American Mormons murdered in a northern Mexican community by drug hitmen for denouncing cartel kidnappings, and the FBI offered to aid a police probe.

Swiss bank UBS braced on Friday for a high-stakes trial in the United States next week that could force it to reveal secret client data, as a last-minute deal remained elusive.

German-based retailer giant Metro Group will invest 80 million euros ($112.3 million) in China to open four more stores there this year, Tianle Cai, chief executive of Metro China, announced on Thursday.