IBT Staff Reporter

The U.S. Department of Labor subpoenaed Tribune Co over an employee stock plan crucial to real estate mogul Sam Zell's buyout of the media company, Tribune said in a bankruptcy court filing on Thursday.

The new top cop at the U.S. Securities and Exchange Commission is viewed as the best hope in years to root out financial fraud and convince fuming investors that the regulator that missed Bernard Madoff's massive fraud is up to the job.

U.S. retailers will continue to face difficulties in the second quarter as both traffic and sales levels are expected to post steady declines versus the same period last year, according to retail research and information company ShopperTrak.

Food prices rose last year more because of higher energy prices, not the production of corn-based ethanol, a study showed.

France raised concerns on Friday after Iranian President Mahmoud Ahmadinejad announced a recent nuclear success.

Pope Benedict reflected on the tragedies and disasters that test faith during a Good Friday procession in Rome, just hours after Italians buried victims of the country's devastating earthquake.

Somali pirates holding an American hostage on a drifting lifeboat want $2 million for his release, a fellow pirate onshore said on Friday.

Followers of Mexico's Saint Death cult figure, revered by thieves and drug runners but also law-abiding housewives, say their faith is being persecuted by the government's war against drug cartels.

Boeing Co. said Friday it plans to cut its production schedule for 2010 due to the economic downturn and lower demand.

The U.S. Treasury and Federal Reserve Bank have asked top U.S. banks not to discuss the “stress tests” which regulators are conducting to determine the viability of the companies, according to reports.

Standard & Poor's on Friday placed its ratings on Boeing Co and its wholly owned finance subsidiary Boeing Capital Corp. on CreditWatch with negative implications after the aircraft maker said it would cut production or delay production increases on certain widebody planes next year.

Shareholders advisory company RiskMetrics Group Inc recommended Citigroup Inc shareholders vote against electing some current and former leaders of the company's audit committee, citing poor risk oversight.

The Federal Reserve's Survey of Consumer Finances, conducted once every three years, provides snapshots of family income and net worth along with basic demographic details and more detailed information on how families store wealth they have.

Microsoft Corp. and Yahoo Inc. are in talks over a deal where the companies would sell advertising for each other, The Wall Street Journal reported Friday on its Web site, citing sources close to the matter.

President Barack Obama said on Friday the recession-hit U.S. economy was showing glimmers of hope despite remaining under strain and promised further steps in coming weeks to tackle the financial crisis.

First Wind filed an application permit with the Maine Department of Environmental Protection for a project that will power more than 20,000 homes using wind energy.

Portugal, officially the Portuguese Republic (Portuguese: República Portuguesa), is a country on the Iberian Peninsula. Located in southwestern Europe, Portugal is the westernmost country of mainland Europe and is bordered by the Atlantic Ocean to the west and south and by Spain to the north and east. The Atlantic archipelagos of the Azores and Madeira are also part of Portugal.

A Belgian court ruled on Friday that all Fortis investors were eligible to vote on its break-up, boosting French bank BNP Paribas' chances of buying Fortis assets.

DBS Group Holdings, Singapore's largest bank, said Friday that its chief executive Richard Stanley, who has leukemia, is in critical care after acquiring an infection, according to a report.

A French hostage died on Friday and four others were freed when French forces attacked pirates who had seized their yacht off Somalia, President Nicolas Sarkozy's office said in a statement on Friday.

Senior managers at a major corporate credit union seized last month were preparing to report a credit loss significantly below what an external analysis had revealed, the U.S. regulator of credit unions said on Friday.

Time Warner Cable unveiled a new pricing structure for broadband Internet access that addresses customer's criticism over the service provider's plans to cap bandwidth usage.

Japan's manga-loving prime minister, Taro Aso, has long touted the importance of soft power content such as comics and anime to boost Japan's global diplomatic status.Now he's targeting pop culture's economic potential.

Russia and Iraq have agreed to work on restoring contracts that they signed before the U.S.-led invasion of Iraq in 2003, Russia's energy minister said after the two countries' prime ministers met on Friday.

President Barack Obama said on Friday the recession-hit U.S. economy was showing glimmers of hope despite remaining under strain and promised further steps in coming weeks to tackle the financial crisis.

A U.S. regulatory analysis shows that senior managers at a major corporate credit union seized last month were preparing to report a credit loss significantly below what an external analysis had revealed, the National Credit Union Administration said on Friday.

Algerian President Abdelaziz Bouteflika won 90.24 percent of the vote in a presidential election, officials said on Friday, extending his hold over Algeria, an oil producer with a lingering Islamist insurgency.

Citigroup shareholders should vote against four of 14 board members to improve the company’s risk management, a shareholder advisory group said, Bloomberg reported.

U.S. Secretary of the Interior Ken Salazar and Federal Energy Regulatory Commission Chairman Jon Wellinghoff signed a Memorandum of Understanding on Thursday, to clarify their agency's jurisdictional responsibilities for leasing and licensing renewable energy projects on the U.S. Outer Continental Shelf.