IBT Staff Reporter

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Judge expands Bratz injunction, lifts receivership

A federal judge ended a temporary receivership of MGA Entertainment Inc in a copyright infringement lawsuit over its Bratz doll business but broadened the list of products and know-how MGA must turn over to Mattel Inc , which won the franchise in a 2008 trial.

Russian group mulls Facebook investment: report

A Russian Internet group, Digital Sky Technologies, has offered to invest $200 million in Facebook in a deal that would value the social networking site at $10 billion, the Wall Street Journal reported on Friday.

GM borrows $4 billion more, prepares for bankruptcy

General Motors Corp on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.

GM prepares for bankruptcy

General Motors Corp won a cost-cutting deal from its Canadian labor union on Friday, part of a package of concessions the automaker is expected to take into a federal bankruptcy court by the end of this month in a showdown with its bondholders.

U.S. sets aside $1 billion for flu vaccine trials, production

The U.S. government will set aside about $1 billion in existing funds for developing a vaccine for the H1N1 flu, a virus from swine origin, according to Health and Human Services Secretary Kathleen Sebelius.

Fuel cell vehicles tour kicks off amid industry uncertainty

With the slogan 28 cities, 2 countries nine days a hydrogen vehicle tour will kick off in the West Coast next week.

U.S. refiners condemn Waxman-Markey bill as abject policy failure

The U.S. oil refining industry on Friday blasted the Waxman-Markey climate bill which passed yesterday evening in Congress, saying it would increase imports of crude and refined products thus impeding national energy security.

World economy out of free fall

The world grouping OECD said on Friday the global economy was out of free fall, offering hope of recovery late this year, but investors focused on risks to the U.S. credit rating from rising government debt.

3 year old shops online while mom snoozes

A New Zealand mom wanting to buy a toy digger for her daughter made some bids online before napping.

Calif. charges men in $200 million Ponzi scheme

California Attorney General Jerry Brown filed criminal charges on Thursday against three men for allegedly swindling more than 1,000 individuals in a $200 million real estate and construction Ponzi scheme, his office said today.

FDIC Insurance Fund to charge banks one-time fee

The Federal Deposit Insurance Corp. on Friday voted to charge U.S. banks a one-time fee of 5 cents per every $100 of assets to rebuild its insurance fund depleted by compensating nationwide bank failures.

Base salary boost in 2009 for top Morgan Stanley executives: report

Base salaries for banking executives at Morgan Stanley will rise this year as the company sets new compensation policies in the wake of scrutiny over bonuses for the financial services industry, according to Bloomberg.

Oil prices forecasted to spike as oil companies make huge cutbacks

Oil prices are likely to rise significantly higher than today in the coming years, a chief economist from the International Energy Agency said today, according to an Associated Press report.

IEA forecasts first electricity use decline since 1945

Global electricity use this year will fall for the first time since 1945 when records began, a signaling the seriousness of the economic recession, according to the International Energy Agency.

Wall Street slips late as budget worries linger

Stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.

Obama signs new credit card bill into law

President Barack Obama signed Friday a bill restricting credit card practices into law at a White House ceremony in the Rose Garden.

EU-zone inflation may drop to 0.2% in May

Euro zone inflation is forecast to have dropped to a new record low in May, dragged down by lower energy and food prices, preliminary data are expected to show next Friday.

Wall Street slips as budget concerns remain

Stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.

U.S. appeals court agrees tobacco companies lied

Cigarette companies systematically lied for decades to hide the dangers of smoking, a U.S. appeals court said on Friday as it upheld a trial judge's racketeering verdict.

Gas prices rise ahead of holiday

The retail price of gasoline rose on Friday ahead of the Memorial Day holiday weekend.

PersonalFinance: Student loans & career building 101

This is a tough time to be graduating from college. Your student loan bills, averaging over $22,000, are likely to arrive before a job does. And once it does, that job may not come with benefits.

Evercore names BlackRock co-founder as CEO

Evercore Partners Inc named BlackRock Inc's co-founder Ralph Schlosstein as its chief executive, replacing Roger Altman, as the boutique bank seeks to diversify from its core advisory business.

Facebook and Twitter hunt for revenue

Facebook and Twitter have helped make social networking a household word. Now they need to make money.

Geithner carries fat fiscal burden but thin wallet

What's in the wallet of Timothy Geithner, whose hands as U.S. Treasury secretary are on some of the fattest government purse strings in the world.

U.S. HHS allocates $1B for new flu vaccine

The U.S. Health and Human Service (HHS) announced Friday that the department will allocate $1 billion to help companies develop new influenza A (H1N1) Vaccine that is spreading quickly in the world.

Recession, health concerns get Americans gardening

Alison Baum of San Antonio, Texas hopes to save money and eat better by getting her hands dirty.

Pelosi heads to China for climate talks

A delegation of U.S. lawmakers led by House of Representatives Speaker Nancy Pelosi will visit China in coming days to discuss international efforts aimed at reducing greenhouse gas emissions.

Obama signs sweeping credit card reform bill

U.S. President Barack Obama signed into law on Friday sweeping reforms that restrict credit card interest rates and fees, marking a victory for Democrats trying to help recession-weary consumers.

Master of fantasy Bernanke says economy to heal

U.S. Federal Reserve Chairman Ben Bernanke told law school graduates on Friday that the recession-mired U.S. economy would recover and to remain optimistic about their job prospects.