U.S. unemployment rate reaches 8.9 percent
The month of April was no different to the previous as U.S. employers were once again left with no option but to slash their workforce yet again as the recession took another bite of the economy, slashing jobs by 539,000.
Windows 7 usage up 22% after RC rolls out
Microsoft's roll out of Windows 7 Release Candidate (RC) earlier this week boosted use of the new operating system by 22 percent since Monday, according to data from Web measurement company Net Applications.
Visionary or plane crazy? Airbus contest to decide
Tourists heading south for the winter may be transported to their dream destination in windowless airliners flying in formation like geese if Airbus accepts the advice of tomorrow's potential aircraft engineers.
AIG shares up after lower loss but future uncertain
Shares of American International Group rose above $2 for a second day on Friday, on signs Chief Executive Ed Liddy is making progress on stemming the financial bleeding at the insurer rescued by a massive government bailout.
Oil hits near 6 month high as U.S. data spurs optimism
Oil rose more than 3 percent on Friday to touch a near six-month high as the results of the U.S. governments stress test for big banks and U.S. jobs data added to optimism about the economy.
Wall St rallies on bank confidence, data
U.S. stocks rose on Friday as results of bank stress tests fueled hopes that the worst is over for the financial sector, and news of fewer-than-expected April job cuts suggested the economic slump is moderating.
Van Halen confirmed for Guitar Hero
DENVER - Activision Blizzard is releasing three new music-based video games this year -- DJ Hero, Guitar Hero 5 and Band Hero -- and has confirmed that Guitar Hero: Van Halen is on tap.
Market hits highs on AT&T/Verizon report
U.S. stocks jumped to session highs on Friday following a CNBC report that AT&T was near a $2.5 billion deal to buy most of Verizon's AllTel divestitures.
Goldman CEO says business seems off lowest ebb
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein offered shareholders a guardedly optimistic forecast for economic recovery, saying investors are now talking about when, not if, markets will rebound.
Fannie Mae taps Treasury again after $23 billion loss
Fannie Mae , the largest provider of U.S. home mortgage funding, said on Friday it needs more capital from the U.S. Treasury after a $23.2 billion loss in the first quarter and warned government housing programs would cut deeper into its profitability.
California fire sends 20,000 fleeing, burns 75 homes
A stubborn brush fire that consumed 75 foothill homes above the coastal town of Santa Barbara raged with renewed ferocity for a fourth day on Friday, forcing at least 20,000 people to flee as it advanced on the city and two nearby communities.
Fannie Mae taps Treasury again after $23 billionloss
Fannie Mae , the largest provider of funding for U.S. home mortgages, on Friday said it lost $23.2 billion in the first quarter, sending it to the Treasury for a second time for capital to keep it afloat.
U.S. state AGs looking at Google books deal
State attorneys general are looking into a proposed settlement Google Inc reached with author and publisher groups allowing the Internet company to digitize millions of books, a participant in a recent discussion of the matter told Reuters on Friday.
Stocks advance on relief on banks, jobs data
Stocks rose on Friday after the government's bank stress tests fueled hopes that the worst is over for the financial sector, while news of fewer-than-expected April job cuts suggested the economic slump was easing.
Goldman Sachs CEO says business off lowest ebb
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein sounded a guardedly optimistic forecast for an economic recovery during the bank's annual meeting on Friday.
Chrysler dissident lender group disbands
A group of Chrysler LLC's dissident lenders disbanded, representatives said on Friday, removing the last legal hurdle to the embattled automaker's quest to complete a merger with Italy's Fiat SpA with U.S. government backing.
Lewis to stick with BofA till capital needs are met
The CEO of Bank of America Corp., Kenneth Lewis said on Friday the bank is able to raise the required capital to meet the requirements of the stress tests and that he plans to stay with the bank until the needs are met.
U.S. sheds 539,000 jobs in April, fewest in 6 months
U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline might be easing and gave the stock market a boost.
Ellis Island to reopen Statue of Liberty on July 4th
The Statue of Liberty's crown on Ellis Island, which has been closed to the public since the September 11, 2001 attacks on the World Trade Center, will reopen on July 4, U.S. Independence Day, Interior Secretary Ken Salazar said on Friday.
Toyota downturn puts workers out on the streets
A growing number of auto workers are winding up on the streets in and around Toyota City in central Japan as the global downturn sends the world's biggest carmaker plunging into the red.
Wall Street gains on bank rally, jobs data
Stocks rose on Friday after the government's stress test results on big banks increased optimism about financial stocks, and data showed employers cut fewer-than-expected jobs in April.
U.S. sheds fewest jobs in six months
U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline may be easing.
Obama administration renews sanctions on Syria
The Obama administration has renewed sanctions against Syria due to serious concerns over its behavior, despite sending two top envoys to Damascus this week to try to improve ties, U.S. officials said on Friday.
McDonald's same-store sales rise
McDonald's Corp reported a 6.9 percent rise in April sales at restaurants open at least 13 months, as strength in the United States helped offset the impact of the stronger dollar.
Clean Energy to buy Exterran's gas station business
Natural gas provider Clean Energy Fuels Corp (CLNE.O: Quote, Profile, Research, Stock Buzz) said it will acquire oilfield services company Exterran Holdings Inc's (EXH.N: Quote, Profile, Research, Stock Buzz) natural gas fueling station business for $5.9 million.
Oppenheimer withdraws opposition to Chrysler plan
OppenheimerFunds, one of Chrysler LLC's dissident secured lenders, said on Friday it has decided to withdraw its opposition to the automaker's proposed debt restructuring plan as it no longer expects to increase its recovery rate.
Court extends Delphi deadline to reach GM deal
Bankrupt U.S. auto parts maker Delphi Corp (DPHIQ.PK) won interim court approval of a two-week extension of the deadline for it to reach a funding agreement with General Motors Corp (GM.N), according to court documents.
INSTANT VIEW: Toyota Motor forecasts big loss in year ahead
Toyota Motor Corp lost $6.9 billion in the final quarter and warned of a big loss in the just-started financial year as sales tumble.
GMAC may be most likely to need taxpayer help
GMAC LLC, the auto and mortgage lender, will likely be forced to seek more taxpayer help in its effort to raise $11.5 billion of new capital following the government
Mars 'RealChocolate.com' site crashes on first day of promo
Mars is offering free chocolate on Fridays till the end of September, but already on its first day, the website that offers the coupons was down following the massive flood of traffic.