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Israel accused of using Iranian opposition group to assassinate Ahmadinejad

Israel was accused of using the Iranian opposition group, People's Mujahedeen of Iran (PMOI) to assassinate president Ahmadinejad during last month's presidential election.

Obama discovers pitfalls of healthcare reform

President Barack Obama knew it was not going to be easy to overhaul U.S. healthcare.

Daily Wrap Up July 17 â€“ Finance

Bank of America Inc. posted better than expected second quarter earnings of $3.2 billion on Friday. The bank's CEO, Kenneth Lewis, admitted it will be much tougher to make money in the second half of 2009 after the bank's current profits relied on one-time gains. Lewis anticipates more loan losses as the unemployment rate continues to rise.

Wall St scores best week in 4 months with IBM's help

U.S. stocks closed out their best week in four months on Friday on a flat note as strong earnings from IBM softened the blow of disappointing results from General Electric Co .

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IBM helps Wall St score best week in four months

U.S. stocks closed out their best week in four months on Friday on a flat note as strong earnings from IBM softened the blow of disappointing results from General Electric Co .

EU clears Pfizer's buy of Wyeth with conditions

European Union antitrust authorities cleared U.S. drugmaker Pfizer's $68 billion takeover of rival Wyeth on Friday subject to conditions, notably the divestment of animal vaccines.

Dow, Nasdaq end up, but S&P dips

U.S. stocks ended mixed on Friday, with the Dow and Nasdaq up and the S&P 500 down. Upbeat earnings results from IBM offset disappointing numbers from General Electric Co .

Court defers to FCC on phone line access rules

A U.S. court decided on Friday against tinkering with regulations governing telephone lines largely controlled by AT&T Inc and Verizon Communications Inc .

Obama has tough-love message for African-Americans

President Barack Obama had a tough-love message for fellow African-Americans on Thursday, urging black parents to push their children to think beyond dreams of being sports stars or rap music performers.

Verizon says it will limit new handset deals

Verizon Wireless is dialing back on its exclusivity agreements with handset makers after pressure from U.S. lawmakers and smaller carriers.

Oil rises 2.5 pct after U.S. housing data

Oil prices rose 2.5 percent on Friday, staging their first weekly gain in a month, after U.S. housing data sparked optimism that a battered sector of the economy may be primed for recovery.

Hillary Clinton rejects notion of diminished role

U.S. Secretary of State Hillary Clinton on Thursday rejected suggestions she had been sidelined by President Barack Obama, her rival for last year's Democratic presidential nomination.

UK should hold troop levels in Afghanistan

Britain should maintain its current troops levels in Afghanistan and may need to deploy more soldiers for up to 18 months until the Afghan army can take on greater responsibility, the head of the army said on Friday.

Citigroup losses masked by Smith Barney gain

Citigroup Inc on Friday said loan losses surged again in the second quarter, yet gains from selling most of its Smith Barney brokerage helped the company report the highest profit among big U.S. banks.

Bank of America credit losses soar, profit falls

Bank of America Corp, the largest U.S. bank, posted a quarterly profit that topped Wall Street forecasts but warned of a fresh surge in soured loans to credit card, mortgage and business customers.

Paul McCartney kicks off shows at Citi Field in New York

Paul McCartney, former member of the Beatles, begins a series of shows across the United States today in New York City's Citi Field.

U.S. retailers hope for Christmas in July

With only 160 shopping days left, it's beginning to look a lot like Christmas in some stores.

Wall Street flat as IBM offsets GE, Bank of America

Stocks were little changed on Friday, as stronger quarterly earnings from IBM Corp offset disappointing results from bellwether companies like General Electric Co and Bank of America Corp .

Stimulus working, deficit can wait: Summers

The Obama administration's $787 billion stimulus package is working despite rising U.S. unemployment and stabilizing the economy must take precedence over tackling the bloated deficit, a top White House economic adviser said on Friday.

Banks' red ink shows consumers still bruised

Bank of America Corp and Citigroup Inc raised huge red flags on Friday with quarterly results that suggested the U.S. consumer remains sorely injured as the global recession drags on.

Madoff auditor waives indictment

Bernard Madoff's former outside accountant told a judge on Friday that he would waive his right to a criminal indictment on fraud charges, a sign he might reach agreement with prosecutors to resolve his case.

Nissan to develop compact hybrids - Nikkei

Nissan Motor Co (7201.T) aims to develop its own hybrid technology for small and midsize cars and end its procurement of hybrid components from Toyota Motor Corp (7203.T), the Nikkei business daily reported on Friday.

Automakers seek battery ties as cars go electric

Rechargeable batteries could become the core technology for the auto industry if pure electric cars enter the mainstream -- a prospect that has carmakers racing to team up with battery makers.

U.S. housing starts, permits jump in June

Ground-breaking for new U.S. homes jumped in June, with starts for single-family homes rising at the fastest rate in 4-1/2 years, the government said on Friday in a report that suggested the battered housing sector was beginning to stabilize.

House Democratic leaders pledge healthcare progress

Democratic leaders in the U.S. House of Representatives on Friday hailed historic progress on healthcare legislation and pledged to continue momentum to deliver on President Barack Obama's vow of reform.

China's forex record gets US out of jam

China's foreign exchange reserves are surging again, which, according to the report of People's Daily Online, helps the Obama administration drag its economy out of a recession by holding a record-high US debt by the end of May.

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