IBT Staff Reporter

Honda Motor Co's earnings will hit bottom this year and improve beyond that as demand in the United States returns in the second half, the Japanese automaker's chief executive said on Friday.

U.S. consumer prices were unchanged in April from March as expected, but recorded their largest 12-month drop since 1955, government data showed on Friday, as sluggish consumer demand limited companies' pricing power.

U.S. stock index futures pointed to a lower open on Friday as better-than-expected manufacturing data in the United States was offset by weak European gross domestic product reading, clouding the economic outlook.

U.S. consumer prices were unchanged in April as expected, but recorded their largest 12-month drop since 1955, government data showed on Friday, as sluggish consumer demand limited companies' pricing power.

General Motors Corp on Thursday said that if it files for bankruptcy it would most likely pursue a quick sale of its best assets out of court protection similar to the process now reshaping Chrysler LLC.

Democrats in the U.S. House of Representatives on Thursday said they were working out final details of a climate change bill, as they announced new breaks for industry that they said would also minimize the potential impact on consumers' energy bills.

Singapore's Temasek sold its 3 percent stake in Bank of America in the first quarter of this year, taking a loss of around $3 billion in the process, as the state investor refocuses on emerging markets.

For the few sane people who have been watching and recoiling with horror as Bernanke, Geithner and Bair implement their insidious rich get richer PPIP/TALF plan by relying exclusively on the AAA ratings of the very same rating agencies that were the primary cause of the current economic catastrophe

British solar company PV Crystalox Solar warned on first-half revenues, on the back of order deferrals, and said it could not guarantee achieving planned 2009 volumes, sending its shares down over 20 percent.

Carbon dioxide emissions from heavy industry participating in the European Union's Emissions Trading Scheme (EU ETS) fell 3.1 percent last year compared with 2007, the EU executive Commission said on Friday.

A pair of spacewalking astronauts on Thursday outfitted the Hubble Space Telescope with a new camera that will allow astronomers to turn their gaze closer to the birth of the universe.

No. 1 U.S. trucking company YRC Worldwide Inc plans to seek $1 billion in federal bailout money to help it cover its pension obligations, a spokeswoman said on Friday.

J.C. Penney Co Inc warned that it expects consumer spending to stay weak and forecast second-quarter and full year results below Wall Street's expectations, sending its shares down 3.8 percent before markets opened.

Stock index futures pointed to a lower open on Friday after weak European economic data fanned concerns about the depth of the global recession and UBS cut its rating on global equities.

J.C. Penney Co Inc posted a lower quarterly profit on Friday as efforts to contain costs and trim inventory failed to overcome a decline in sales, and its shares fell 5 percent before markets opened.

Under the direction of the U.S. Treasury, General Motors Corp is close to a deal with the United Auto Workers that would cut its hourly labor costs by more than $1 billion a year, the Wall Street Journal said, citing people familiar with the matter.

Abercrombie & Fitch Co posted a much bigger-than-expected quarterly net loss as cost-cutting efforts failed to offset a sales decline, and its shares fell 7.5 percent in premarket trading.

The U.S. oil price fell almost $1 to below $58 on Friday, pressured by weak demand and as the U.S. dollar firmed against the euro.

Representatives from Opel's 4,000 dealers in Europe are expected to vote in favor of taking a direct equity stake in the ailing German carmaker when they meet in Vienna on Friday.

Stock index futures pointed to a lower open on Friday ahead of consumer price data, while some financial shares rose on news that four insurers can tap government bailout money.

The U.S. oil price fell toward $58 on Friday, pressured by weak demand and as the U.S. dollar firmed against the euro.

U.S. life insurers Principal Financial Group, Ameriprise Financial Inc and Prudential Financial Inc, all with a solid capital position, may not accept funds under the U.S. Treasury's Troubled Assets Relief Program , analysts at Keefe, Bruyette & Woods said.

Japanese electronics maker Panasonic Corp forecast a bigger-than-expected annual loss after booking a record quarter of red ink battered by weak demand, price falls and hefty restructuring costs.

The U.S. oil price firmed slightly toward $59 on Friday as global stock markets rose, although weak demand capped oil's gains.

Fashion chain Hennes & Mauritz said sales rebounded at a faster rate than expected in April as the retail bellwether ended eight months of declines, adding to signs of a tentative recovery in consumer spending.

Oil prices rose toward $59 on Friday as European equities opened higher, shrugging off gloomy German economic data and a firmer dollar.

World equities rose on Friday yet still looked set to end the week down for the first time in 10 weeks, while poor economic data from German hit the euro and boosted bonds.

Japanese electronics maker Panasonic Corp forecast a bigger-than-expected annual loss after booking a record quarter of red ink battered by weak demand, price falls and restructuring costs.

Miner Rio Tinto remains committed to a planned $19.5 billion tie-up with Chinese metals firm Chinalco, it said, responding to talk that the deal may be revised to let more shareholders take part in a rights issue.