IBT Staff Reporter

U.S. envoy John Negroponte spoke to Pakistan's opposition leader Benazir Bhutto on Friday and said moderate forces should work together to put the country back on a democratic path.

Package delivery company FedEx Corp cut its earnings forecast for the current quarter on Friday, citing higher fuel prices and weaker demand for ground shipments too small to fill a truck.

Starbucks Corp shares fell nearly 7 percent on Friday to their lowest in more than 4 years, sparked by the coffee shop chain's admission that customer traffic slowed for the first quarter in its history.The seller of premium coffee, which coaxed U.S. consumers into drinking stronger, more expensive coffee, said U.S. traffic at its established locations fell 1 percent in the quarter as economic worries and 2 percent price rises spooked consumers.

Hedge fund Pardus Capital Management LP, lobbying for a merger between Delta Air Lines Inc and UAL Corp, plans to pitch its proposal to other investors on Friday, sources close to the situation told Reuters.

Oracle unveiled fusion applications for businesses on Wednesday during the last session of the company's Openworld event.

Let the holiday shopping madness begin ... please? That is the silent plea coming from U.S. retailers, which are gearing up for Black Friday, the chaotic and competitive day after Thanksgiving (November 22) when stores offer eye-popping, limited-time deals to kick off the holiday shopping season.

U.S. Treasury Secretary Henry Paulson Friday said a strong dollar is in the nation’s industry, but noted that parts of the subprime housing market will likely worsen over the next few months.

Hedge fund Pardus Capital Management LP, lobbying for a merger between Delta Air Lines Inc and UAL Corp, plans to pitch its proposal to other investors on Friday, sources close to the situation told Reuters.

U.S. stocks on Friday fell for a third day following lowered earnings forecasts by Starbucks Corp and FedEx Corp.,making investors uneasy about the outlook for consumer spending.

When movie director Roger Spottiswoode ventured to China two years ago to scout locations for The Bitter Sea, a drama set in the 1930s, he was surprised at the lack of suitable buildings from the period.

CBS Corp. filed a motion Thursday to dismiss the $70 million breach of contract lawsuit filed against it by Dan Rather, calling the former CBS Evening News anchor's claims far-fetched.

While difficult to upstage nearly nude supermodels strutting down a catwalk, the Spice Girls stole a share of the spotlight on Thursday as they kicked off a reunion tour with a warm-up at the Victoria's Secret fashion show.

Mergers and acquisitions by Indian firms in Europe and the United States are expected to double in three years, a survey said on Friday.

European Union Telecoms Commissioner Viviane Reding said she does not expect political wrangling over her plans this week to shake up telecom rules to derail the creation of a single EU telecoms watchdog.

Camera and office equipment maker Canon Inc expects 30 percent annual sales growth in China until 2010, the chief executive for China said on Friday.

Aeon Co Ltd, Japan's No.2 retailer, said it wants to increase its ties with drugstore operator CFS Corp as it seeks to scupper a $120 million takeover of CFS by rival Ain Pharmaciez Inc.

Gold regained strength on Friday as bargain hunters and investors resurfaced to take advantage of the metal's sharp drop the previous day.

Fears that the credit crisis could deepen rattled global stock investors on Friday and boosted demand for traditionally less risky assets.

The yen strengthened on Friday as jittery investors took cues from falling stock markets to continue a move out of relatively risky carry trades funded by cheap borrowing in the Japanese currency.

Google Inc is gearing up to make a serious run at buying wireless spectrum in a Federal Communications Commission auction in January, the Wall Street Journal reported Friday in its online edition.

Online retailer Amazon.com Inc plans to introduce its highly anticipated electronic book device at a New York event Monday, the Wall Street Journal reported Friday, citing two people familiar with the company's plans.

Stock index futures on Friday signaled a bounce-back after recent losses, while investor worries about weakening consumer spending and credit market losses could limit gains.

Oil rose above $94 a barrel on Friday, rebounding from losses the previous session after a surprise build in weekly U.S. crude stocks.

U.S. sales of Sony Corp's PlayStation 3 (PS3) more than doubled in the weeks following a price cut and the launch of a lower-priced version, the company said on Friday, in a sign of changing fortunes for the game console.

Profits from opium cultivation are fuelling the insurgency in Afghanistan, the United Nations said on Friday, in a new call on NATO to crack down on the country's burgeoning drugs trade.

British computer experts acknowledged defeat on Friday after a German amateur radio enthusiast won a challenge to crack secret messages encoded by a World War Two cipher.

Chinese lunchtime television on Friday gave ordinary people a basic tip on how to play the currency markets: sell the dollar!

The malls are full, the cars are fast, the fashions are sharp -- conspicuous consumption is king as Saudis enjoy the benefits of oil at almost $100 a barrel.

As banks work to clean up some of the subprime mortgage mess, they are finding new obstacles in unraveling the massive paper trail used to pool individual loans into mortgage-backed securities.