IBT Staff Reporter

Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive Vikram Pandit, the Wall Street Journal reported.

Search crews in the Atlantic struggled on Friday to recover wreckage from an Air France flight as hopes dwindled of finding bodies from a crash possibly caused by pilots acting on flawed speed readings.

British Prime Minister Gordon Brown sought to fend off a challenge to his authority on Friday, reshuffling his cabinet to secure the loyalty of several ministers and averting a government collapse.

A former U.S. State Department official and his wife have been arrested for spying for the Cuban government for nearly 30 years, the Justice Department said on Friday.

Wal-Mart Stores Inc's announced a new $15 billion share repurchase plan on Friday and said market share gains it has made amid the recession are permanent as a new normal emerges in which consumers seek to save money.

U.S. President Barack Obama travels to Normandy Saturday to mark the 65th anniversary of the D-Day landings on beaches in northern France that led to the Allied victory over Nazi Germany.

U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.

(Corrects to show Citigroup's exit from Dow occurs on Monday at start of trading and not after bell)

Mexico, the second largest emitter of greenhouse gases in Latin America, committed to cut carbon dioxide emissions by 50 million tonnes a year by 2012, Mexico's president Felipe Calderon said today.

U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.

The International Monetary Fund (IMF) released an economic outlook of Thailand in 2009 on Friday after concluding the Article IV consultation with the Country.

Sprint Nextel Corp Chief Executive Dan Hesse is counting on Palm Inc's Pre smartphone to help the company move past criticism about its customer service and network quality.

Over 200 countries have confirmed their participation in the World Expo in Shanghai next year, with the European Union (EU) promising to show up for the first time in history.

The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.

U.S. employers last month cut the fewest jobs since September and international policy-makers said the worst of the downturn may be over as more positive corporate news popped up around the globe.

John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.

Vice President Joe Biden said Friday the White House plans to ramp up the pace of its economic recovery efforts following the announcement of 25-year-high unemployment rate.

Tech Mahindra revises Satyam open offer India’s Tech Mihandra, which has 31 percent stake of fraud-hit Satyam Computer Services Ltd on Friday said its Rs. 1,154 billion or $231 million additional open offer of a 20 percent stake to its shareholders approach will be move on June 9 from the earlier schedule of June 3. However, Dates for all other activities of the schedule remain unchanged, the filing said.

Lawyers for Allen Stanford, the Texas financier charged with an $8.5 billion fraud by U.S. regulators, on Friday characterized a $20 million fee request by the case's receiver as exorbitant, according to a court filing.

Apple Inc kicks off its annual developers' extravaganza on Monday under a tight lid of secrecy, with investors expecting the electronics maker to unveil new or cheaper versions of its popular iPhone.

Google issued an early preview release of its Chrome browser for Linux and Mac OS X on Thursday, but Google warned that the browser may crash and is still lacking some features.

A former U.S. State Department official and his wife were arrested on charges of serving as agents of Cuba for nearly 30 years and conspiring to provide classified U.S. information to the Cuban government, the Department of Justice announced on Friday.

Bank of America Corp. announced Friday afternoon the election of four new directors aiming to address Regulators’ concerns that that board lacks financial expertise.

Iran has expanded the number of centrifuges enriching uranium to almost 5,000 and this has made it harder for U.N. inspectors to keep track of the disputed nuclear program, according to an IAEA report seen by Reuters.

The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.

The Dow industrials ended slightly higher on Friday while the S&P 500 and the Nasdaq dipped as investors paused to consider conflicting signals in monthly U.S. jobs data. Investors also sold some recent winners to take some profits from the spring rally.

The Federal Deposit Insurance Fund Corp. is looking to shake up Citigroup’s top management, the Wall Street Journal reported today.

Whether you come by your sweet tooth naturally, suddenly find your pants slipping southward from too much road grub, or just can’t face another plate of mystery meat, desserts on the road are a great way to get to know a country’s culinary culture.

Electric vehicle services provider Better Place said Friday its automated battery swap stations have marked 1,000 replacements of batteries from electric vehicles in Japan, the firm's vice president Jason Wolf said at the Smart Grid Innovation Symposium, according to Greentechmedia.