IBT Staff Reporter

Toyota Motor Corp , the world's biggest automaker, forecast a much bigger-than-expected $8.6 billion annual loss and said it would sell about 1 million fewer vehicles this year, leaving it desperately trying to cut costs in the grip of a severe market downturn.

U.S. shares are set to rise on Friday, after stress tests for U.S. banks sparked optimism about the sector's future, and ahead of April's non-farm payroll data.

Results of a government test of how the biggest U.S. banks would fare in an even more punishing economic environment are unlikely to spur a major pick-up in lending, though they may remove some of the uncertainty in the banking system.

The world's first rules for generating tradeable carbon credits from protecting forests were a good start but Indonesia needed to clear up doubts over the government's share of the revenues, analysts and industry said Friday.

Italy's biggest utility Enel and German renewable energy company SoWiTec have agreed to jointly develop wind power projects in Chile of up to 850 megawatts, Enel said on Friday.

Oil rose above $57 a barrel on Friday, near a six-month high, lifted by hopes of an economic recovery that could boost falling world oil demand.

President Barack Obama's $3.55 trillion budget, released on Thursday, retains his plan to cut climate-warming carbon dioxide emissions by auctioning off 100 percent of emission permits to industries.

The world's biggest automaker, forecast a much bigger-than-expected $8.6 billion annual loss and said it would sell about 1 million fewer vehicles this year, leaving it desperately trying to cut costs in the grip of a severe market downturn.

First-quarter results from two more European banks showed bad debts soaring in the face of tough economies, as U.S. rivals prepared to raise $75 billion to provide a cushion for the deepest recession in decades.

Toyota Motor Corp , the world's biggest automaker, forecast a much deeper-than-expected annual loss of $8.6 billion as sales tumble, keeping dozens of its factories underused.

Toyota Motor Corp, the world's biggest automaker, lost $6.9 billion in the fourth quarter and forecast more losses for the current year as sales tumble, keeping dozens of its factories underused.

Toyota Motor Corp said on Friday it lost $6.9 billion in the final quarter and forecast increasing losses this financial year as sales continue to tumble, keeping dozens of its factories underused.

The worldwide hit video game Guitar Hero could become a reality TV show and/or a real-life concert tour, people familiar with the discussions said Thursday.

Toyota Motor Corp, the world's top automaker, is likely to forecast a bigger operating loss of 700 billion yen ($7 billion) this financial year as global car demand stays weak, the Nikkei business daily reported on Friday.

The Federal Reserve of the United States released the results of the assessment the top US banks and their financial conditions.

Asian shares edged lower ahead of U.S. monthly employment data due on Friday that will provide another step in determining whether the recent signs of an improving global economy are real or just wishful thinking.

President Barack Obama's administration has decided it wants to terminate the Yucca Mountain nuclear waste storage facility project officially.

American Express Co. has formally asked regulators to allow it to pay back preferred shares it issued to the government after a federal stress test showed the firm does not need additional capital.

Goldman Sachs Group Inc , Morgan Stanley , JPMorgan Chase & Co and several other big U.S. banks said they were in a position to quickly repay Treasury capital injections after regulators released bank stress test results.

CBS Corp, which runs the highest rated U.S. television network, reported a net loss of $55.3 million during the first quarter on sales of $3.16 billion, citing a decline in ad sales amid the current economic downturn. Last year CBS earned $244.3 million.

New York Federal Reserve Chairman Stephen Friedman resigned on Thursday in the wake of conflict of interest accusations, defending his purchases of Goldman Sachs Group, Inc shares last year.

The oil and gas industry is opposing President Barack Obama's proposal to Congress to cut tax breaks for the industry saying it will cripple small businesses and punish American natural gas production.

The first commercial scale plant for lithium-ion auto batteries in the U.S. will be commissioned in a ceremony on Friday in Indianapolis, Indiana.

U.S. regulators told top banks on Thursday to raise $74.6 billion to build a capital cushion officials hope will restore faith in financial firms and set a course out of the deepest recession in decades.

American Express Co asked on Thursday for permission to repay the $3.4 billion in TARP funds it received, after the U.S. government stress test showed the credit card firm is well capitalized.

Bank of America Corp , ordered by the government to find $33.9 billion of capital, said on Thursday it planned to sell assets and issue more common stock to cover the shortfall.

American International Group , the giant insurer bailed out by the U.S. government, reported its smallest loss in six quarters on Thursday, hurt once more by investment losses and write downs.

Stephen Friedman, chairman of the New York Federal Reserve Bank's board of directors, resigned on Thursday amid questions about his purchases of stock in his former firm, Goldman Sachs.

AMG Data Services just announced that US junk bond funds saw an $822 million inflow this past week, a doubling of the $435 million inflow from a week earlier. Looks like the powers that be have created a literal junk vortex and institutions are jettisoning treasuries (look at clearing 30 Yr Yield for an indication of appetite) and gobbling up the bottom of the risk pile just as hedge funds are dumping. And, of course, everyone is ignoring that 20% of these names will be bankrupt by year end, unl...