IBT Staff Reporter

Stocks slid sharply on Friday after Bear Stearns said credit markets were in their worst shape in two decades, while jobs data aroused further concerns about weakness in the economy.

How do people get ahead in the workplace? One way seems to be by making their subordinates miserable, according to a study released on Friday.

After years of socializing, Facebook and MySpace mean business. The sites, which started as a way to help people stay connected with friends, in the past year have begun catering to professionals, offering networking and advertising opportunities.

Just over two-thirds of Americans believe the country is either already in recession or headed for one over the coming year, according to a new poll conducted jointly by The Wall Street Journal and NBC.

Citigroup Chief Executive Charles Prince said the recent market pullback feels sharp, but he is bullish on the bank's growth, the New York Times reported on its Web site on Friday.

The swift demise of China's green GDP figures highlights a growing policy conflict between advocates of environmental protection and officials long used to pursuing economic growth at all costs.

Samsung Electronics Co. Ltd. said on Friday it shut down six of its chip production lines after a power cut at a plant near Seoul, prompting expectations of tighter supply and a rise in prices.

American Home Mortgage Investment Corp. plans to close most operations on Friday and said nearly 7,000 employees will lose their jobs as the lender becomes one of the biggest casualties of the U.S. housing downturn.

Procter & Gamble Co. posted a higher quarterly profit on Friday, driven by cost controls, and also announced an acceleration of its share repurchase plans.

Dell Inc., the world’s second largest personal computer maker, has rolled out its first desktop computer from its new plant at Sriperumbudur near Chennai this week, thereby making India the third country in Asia Pacific, after China and Malaysia, to manufacture its range of desktop computers and notebooks outside of the US.

The dollar steadied against other major currencies on Friday, hugging tight ranges as investors shifted their focus to upcoming U.S. employment data from the credit and stock market volatility of recent weeks.

Oil hovered near $77 a barrel on Friday, near this week's all-time high, as continued output restraint by OPEC raised concern over tighter fuel supplies this winter.

World stocks were steady on Friday, off this week's 3-1/2 month low, as robust corporate earnings highlighted the underlying strength of the global economy, calming concerns about a global credit squeeze.

British Airways beat forecasts with a 28 percent rise in quarterly operating profit on Friday but warned that a weak dollar and soaring fuel prices would slow full-year revenue growth and raise costs.

Allianz, Europe's biggest insurer, beat forecasts with net profit of 2.140 billion euros ($2.9 billion) in the second quarter, down 6 percent from a year earlier when the result was boosted by asset sales.

Royal Bank of Scotland, Britain's second biggest bank that is locked in a takeover battle for ABN AMRO, beat expectations with an 11 percent rise in profit and lifted its dividend by 25 percent.

Toyota Motor Corp.'s quarterly operating profit rose by a better-than-expected 32 percent as brisk overseas sales combined with a softer yen to make up for chronic weakness in domestic demand. Toyota, the world's biggest and most profitable automaker, left its cautious annual forecasts unchanged, as expected.

Stocks rallied late in the session on Thursday for the second day as enthusiasm about strong profits offset lingering credit concerns, although a modest flight-to-quality bid gave bond prices a slight lift.

U.S. securities market regulators are pursuing a suspected insider trading ring that appears to have been operating in many stock and options markets over several months. Authorities said tracking the suspects has been a team effort among the major exchanges and federal regulators.

Media mogul and owner of News Corporation Rupert Murdoch has come a step closer to clinching ownership of the Wall Street Journal's publisher, Dow Jones, after key members of the controlling Bancroft family switched sides to back his $5 billion takeover bid.

Oil rose near an all-time high on Thursday as OPEC officials said the producer group would not hike output despite concerns of a supply shortfall.

U.S. and Canadian banks face limited exposure to subprime mortgage losses and future rating downgrades, bond rating company DBRS said on Thursday. The U.S. mortgage market has been hit by rising delinquencies and defaults on subprime loans made to risky borrowers, setting off a wave of rating downgrades of related securities in July. Healthy earnings should insulate financial institutions, DBRS analysts said on a conference call.

Electronic Arts Inc, the world's biggest video game publisher, posted a smaller-than-expected quarterly loss on Wednesday due to a boost from hits such as its latest Harry Potter title.

Walt Disney Co. reported a 4.7 percent increase in net profit on Wednesday, driven by strong television program sales and higher receipts at its theme parks.

Google Inc. has approached wireless phone operators and handset makers as it looks for a piece of the market for advertisements on cellphones, the Wall Street Journal said on its Web site on Thursday.

Japan's Pioneer Corp. said on Thursday it will launch its first full high-definition plasma televisions in October, playing catch-up with larger rivals such as Matsushita Electric Industrial Co. Ltd.

The U.S. biotechnology industry is awaiting this fall's deadline for Europe to speed up its approval of new biotech food and crops -- a process Washington has long complained is woefully slow -- in the hope of increased access to a major market.

Clean technology is evolving from environmental issue to big business, opening a world of opportunities for companies, entrepreneurs and investors who see a chance to -- yes -- clean up, says a new book.

A U.S. Senate committee endorsed legislation on Wednesday allowing the Food and Drug Administration to regulate tobacco products, a proposal supported by public health groups and the nation's largest cigarette maker.