IBT Staff Reporter

U.S. authorities, as well as defense attorneys, need to ramp up their understanding of complex financial instruments as populist anger puts pressure on the government to bring more business fraud cases, a top U.S. defense lawyer said on Friday.

President Barack Obama on Friday called for the government to stop backing private loans to college students and replace them with direct government loans to young people.

On Friday the government laid out higher standards for the 19 distressed banks, after taking the stress tests, requiring them to raise more cash and meet stricter standards.

Microsoft Corp said on Friday a version of its long awaited Windows 7 operating system will be made available from next week.

Chrysler won a round of concessions from its Canadian union on Friday while General Motors Corp soaked up $2 billion more in U.S. government aid and Ford Motor Co posted a narrower-than-expected loss that sent its shares soaring.

Finance chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.

The Swine Flu virus is a virus that has brought with it a lot of confusion and even scientists are unsure of its exact origin.

North Korea will stay away from international nuclear disarmament talks, Russia's foreign minister said on Friday after visiting the secretive state and pressing Pyongyang to return to the sputtering discussions.

If Texas billionaire Allen Stanford ever wanted to make a low-profile departure from the inner sanctum within his lavish Houston headquarters, there was a private exit through his personal bathroom.

Bank regulators in Michigan closed Michigan Heritage Bank on Friday, the 27th U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.

When Marissa decided to switch jobs from nursing to prostitution a year ago, the online classified site Craigslist was pivotal, she said. Friends told her she could make lots of money just by advertising there.

Hollywood movie companies told a federal judge on Friday that RealNetworks violated copyright law by selling software that allows people to make backups of their DVDs on a home computer.

U.S. stocks may run into some turbulence next week as the impending release of bank stress test results, a Federal Reserve meeting and a flood of earnings will give investors some reasons for caution.

Green firms First Solar, GT Solar International and Archer Daniels Midland were recommended on Friday as solid targets for investors by Brent Wilsey, President of Wilsey Asset Management.

What would you give up first, air conditioning or your cell phone?

Chrysler's lenders and a Canadian union continued talks on Friday with less than a week to a U.S. government deadline to cut deals, as General Motors Corp drew $2 billion more in government aid.

Chrysler LLC's lenders offered to cut the amount they are owed in a proposal to the Obama administration that points to an acceleration in the pace of high-stakes debt restructuring talks.

The Renewable Fuels Association (RFA), a representative for the ethanol industry, is disappointed about California's decision on Thursday to adopt a low carbon fuel standard because it says is unfairly penalizing ethanol.

Could spending time on Facebook cost you your job?

A strain of swine flu found in eight people in California and Texas has been linked to the deadly flu that has killed as many as 60 people and left 900 sick in Mexico.

The numbers of credit unions are on the rise and even schools are establishing them. The Schools First Federal Credit Union, OCTFU (Orange County Teachers Federal Credit Union), and KAPFCU are among the growth of credit unions in the nation currently.

Chrysler's lenders and a Canadian union continued talks with less than a week to a U.S. government deadline to cut deals, as Ford Motor Co posted a $1.4 billion loss that was less than analysts had expected.

Regular readers know that I’m big on the need to build a strong online presence. There are a number of reasons for this:

The cover for Madden 2010 was leaked online on Friday ahead of being officially shown on the Late Night with Jimmy Fallon show scheduled for tonight. The cover features both Steelers safety Troy Polamalu and Cardinals wide receiver Larry Fitzgerald.

Stocks rallied on Friday as earnings showed companies have weathered the recession and economic data raised hopes the economic cycle may have hit a bottom.

The top 19 U.S. banks need to hold a substantial amount of capital above regulatory requirements to weather a potential worsening of the economic recession, the U.S. Federal Reserve said on Friday.

NATO said Friday it would extend a month-long anti-piracy mission off Somalia until June 20 and cancel port visits to Singapore and Australia.

Bali. When mentioned, people conjure up images of killer waves, busy night clubs and overcrowded beaches running rampant with young suntanned partiers.

South Africa's ruling African National Congress claimed victory on Friday in a general election that will make party leader Jacob Zuma president.