UNITED STATES

U.S. consumers felt much more upbeat about the economy in April, a month when the nation's manufacturing sector also appeared to be crawling out of a deep recessionary hole, reports showed on Friday.

Stocks edged higher on Friday as rising energy shares overshadowed profit taking that followed the market's strong gains in March and April.

Bankrupt automaker Chrysler LLC idled its manufacturing plants on Friday and said its survival depends on quick court approval of its restructuring plan and the subsequent restarting of its operations.

Once an icon of American automotive might, Chrysler has reached a new low in its rocky eight-decade history by filing for bankruptcy and cutting its business to a shadow of its former size.

Chrysler LLC heads to U.S. bankruptcy court Friday morning to obtain permission to continue paying employees and meeting customer and dealer obligations against a backdrop of mounting opposition from certain of its lenders.

The U.S. factory sector shrank further in April but at a slower pace, suggesting some stabilization in the battered sector and the broader economy, according to an industry report released on Friday.

As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever to catastrophe.

Oil prices rose to a three-week high on Friday, drawing support from improved U.S. consumer confidence and further evidence of record levels of compliance by OPEC with its agreed output cuts.

Stocks slid on Friday as data that showed the manufacturing sector contracted overshadowed a stronger-than-expected reading on consumer confidence.

Continental Airlines Inc said on Friday it had temporarily reduced service to Mexico, citing lower demand as a deadly strain of flu spreads.

Supreme Court Justice David Souter told the White House of his plans to retire in June, a source familiar with his plans said Thursday night, leaving the position open for President Obama to appoint his first Supreme Court justice.

Wall Street was poised for a flat open on Friday as a reassessment of the recent sharp market run-up could keep gains in check despite hopes the economic slowdown is moderating.

The White House has finished a review of a rule that aims to cut emissions from alternative motor fuels like ethanol, federal environmental regulators said on Thursday.

Oil prices rose on Friday, bouncing from losses earlier in the day, on support from equity markets and as traders sifted through evidence for hints of economic recovery.

Former Cuban leader Fidel Castro on Thursday derided U.S. steps toward improving relations with the communist island, saying the United States wants Cuba to act like a slave willing to accept again the whip and the yoke.

Staying inside to avoid the flu? Or perhaps you are not convinced yet that a pandemic would be scary. Either way, the U.S. National Archives has a solution.

Chevron Corp reported a 64 percent decline in quarterly profit on Friday as the second-largest U.S. oil company felt the impact of a sharp drop in oil and gas prices in the past year.

U.N. Security Council members see no point withholding an IMF loan or taking other steps to punish Sri Lanka, the council's president said, as Colombo again rejected foreign calls for a ceasefire with rebels.

Taliban militants kidnapped 10 Pakistani paramilitaries in an attack on their headquarters on Friday as Islamic militants fought back against an army offensive in the troubled northwest.

Sumitomo Mitsui Financial Group will buy Citigroup's Japanese broker and key investment banking units for $5.9 billion and look to form a financial services powerhouse through an alliance with Daiwa Securities Group.

Mastercard Inc reported better-than-expected first-quarter earnings on Friday as the world's second-largest credit card network slashed expenses and increased fees.