IBT Staff Reporter

H.J. Heinz Co posted a higher quarterly profit on Friday and said it expects full-year profits to be near the top of its forecast range, helped by new products, the weak dollar and stepped-up marketing.

U.S. stocks were poised to open little changed on Friday as investors nervously awaited fresh data, including new home sales for July, for clues on the health of the economy. On Thursday, the head of the biggest U.S. mortgage company, Countrywide, said the persistent U.S. housing market downturn could lead to a recession.

European power companies are making billions of euros in excess profits in the fight against global warming as consumers pay for it, economists say.

Home Depot is close to accepting about $1.2 billion less for the sale of its wholesale distribution business to three private equity firms, the Wall Street Journal reported on Thursday.

Asian stocks fell on Friday on concern that problems in the U.S. housing and credit markets could push the world's biggest economy into recession, while the yen steadied against the dollar and euro.

Limelight Networks Inc said on Thursday it had expanded an online media distribution deal with Microsoft Corp, sending the shares of the digital content delivery company up as much as 20 percent.

European Union veterinary experts agreed on Thursday to let all of Britain, except part of the county of Surrey, resume exports of live animals, meat and dairy products to other EU countries, the EU executive said.

India's biggest communist party said on Thursday it did not want to pull the government down over a nuclear deal with the United States, but added that this depended on the pact not being pursued.

Wal-Mart Stores Inc said on Thursday it was taking more steps to make sure its toys are safe after Mattel Inc's recall this month of millions of Chinese-made toys.

A worsening credit crunch and its broad impact on financial markets has some dealmakers predicting that leveraged buyouts are on hold for the rest of the year and perhaps well into 2008.

Teen retailer Aeropostale Inc said on Thursday its second-quarter net profit rose 75 percent, helped by lower costs.

U.S. stocks dipped on Thursday as investors worried about the economic outlook after the head of the biggest U.S. mortgage company said the housing downturn could create a recession.

Barnes & Noble Inc, the world's largest book retailer, posted a 9 percent rise in quarterly profit on Thursday, helped by higher sales of Harry Potter and the Deathly Hallows, the final book in the popular series.

The U.S. Securities and Exchange Commission started sending letters this week to a cross-section of public companies, requesting further details about how they pay their executives, an agency spokesman said on Wednesday.

While Sony battles with Microsoft over which of their next-generation video game consoles will dominate, its seven-year-old PlayStation 2 still has a lot of life in it.

Private mortgage insurance firms that saw their business shrivel during the subprime lending bonanza of 2005-2006 are set to win back market share if they can weather the current mortgage crisis.

Countrywide Financial Corp Chief Executive Angelo Mozilo warned on Thursday that the housing downturn is likely to lead the country into recession, but called speculation that the largest U.S. mortgage lender might go bankrupt irresponsible and baseless.

Stocks declined on Thursday after the chief executive of Countrywide Financial Corp said the housing market was certainly not getting better and could push the economy into a recession. The comments offset optimism about a $2 billion injection into Countrywide, the biggest U.S. mortgage lender.

BP America said Thursday that it will not take full advantage of a new permit to dump more waste into Lake Michigan, taking into account protests to a refinery modernization expansion project.

AT&T (NYSE: T) announced a two year contract with Global Hyatt Corp. on Thursday to set up an advanced global communications network across 300 of its hotels.

News Corp's Internet social network, MySpace, and Viacom Inc's MTV will host discussions with candidates and Internet viewers.

A private equity-led buyout of home-improvement retailer Home Depot Inc's wholesale supply division, due to close on Thursday, could be in trouble because investment banks involved are reluctant to fund the transaction even at a lower price, the Financial Times reported in its online edition, citing people familiar with the negotiations.

Countrywide Financial Corp was expected to lead financial shares higher on Thursday after receiving a $2 billion injection from Bank of America Corp, easing fears the largest U.S. mortgage lender could go bankrupt and boosting optimism the sector will weather a credit shortage.

Microsoft Corp said on Thursday it was giving customers free retrofits to a wireless racing wheel with its Xbox 360 video game system after hearing of malfunctions in a wheel component.

Nikon Corp's newest advanced cameras and a lineup of fresh faces will help it outrun rival Canon Inc in a scramble for loyal fans throughout Asia, Nikon executives said on Thursday.

A creepy, underwater shooter game which refused to sink when publishers balked at its high development costs has turned into a success story, with BioShock getting glowing reviews and top sales.

Once upon a time, people went to libraries to find books instead of surfing the Internet. Computer giant IBM now wants you to walk into three-dimensional Web worlds to browse virtual libraries.

Countrywide Financial Corp on Wednesday received a $2 billion injection from Bank of America Corp, helping the largest U.S. mortgage lender shore up its finances as it struggles with a liquidity crunch.

Next-generation video game consoles have trailed personal computers when it comes to what they can offer players over the Internet but several upcoming releases seek to change that.