UNITED STATES

Consumers banked a big portion of their tax rebate checks last month, giving them enough cushion to keep spending for a few more months and perhaps postponing a recession that once seemed inevitable.

Crude futures soared above $142 a barrel on Friday following a steep decline on U.S. stock markets that triggered investments into the commodity sector.

Republican John McCain told Ohio autoworkers on Friday he supports free-trade agreements while many of them say cost American jobs in a time of economy slow down.

Senators Barack Obama and Hillary Clinton took the first step together in uniting the Democrat party since the divisive Democratic primary race ended, with a joint appearance on Friday in the aptly named New Hampshire town of Unity.

Critics have praised Wall-E as a contender for the best movie of 2008 as it opens this today in the United States.

Senators Barack Obama and Hillary Clinton will appear together later today at a rally in Unity, New Hampshire, a town where they tied in the January primary with 107 votes each.

Bank of America Corp. said it will complete its purchase of Countrywide Financial Corp by July 1 and then cut 7,500 jobs as part of the combination of the companies.

U.S. stocks were mixed in morning trading on Friday, failing to post a significant rebound a day after the Dow suffered its second-worst percentage loss of the year and closed at its weakest level in 21 months while key inflation gauge showed signs that consumer spending surged in May.

U.S. stocks tumbled sharply on Thursday with the Dow dropping to its worst level since September 2006 on a series of downgrades from Goldman Sachs while shares of Citigroup Inc. and General Motors hit its lowest levels in more than nine years.

President Bush said Thursday he will lift key trade sanctions against North Korea and remove it from the U.S. terrorism blacklist, a remarkable turnaround in policy toward the communist regime he once branded as part of an axis of evil.

Gold futures gained in electronic trading on Wednesday afternoon in New York, after ending lower at the close of trade when the Federal Reserve announced its decision to keep interest rates steady as inflation concerns rise.

U.S. stocks held onto most of its gains on Wednesday after the Federal Reserve decided to end its string of interest rate cuts and maintain rates at 2 percent as inflation concerns rise.

MasterCard Inc will pay American Express Co. up to $1.8 billion in a settlement that drops a lawsuit alleging that MasterCard had illegally blocked financial firms from providing American Express cards.

U.S. stocks rose on Tuesday on speculation that weaker consumer confidence and a record plunge in home prices will ensure the Federal Reserve to maintain interest rates at current levels, while United Parcel Service set new multiyear low.

Most U.S. stocks dropped during afternoon trading on Monday as crude oil prices rose while the outlook for bank earnings lowered.

World wine producers face rising challenges from global warming and soaring fuel costs but any resulting price rises will be bearable, the newly re-elected head of the International Organization of Vine and Wine (OIV) said on Friday.

The Mississippi River's crest rolled downstream on Friday, submerging small towns and some of the U.S. Midwest's most fertile farm fields with a relentless flow as people and industry struggled to cope with the effects of the worst flooding in 15 years.

U.S. stocks fell on Friday to a three month low as the oil price continued to rise following increased violence in the Middle East and more trouble persisted in the financial sector.

The U.S. and China agreed to begin negotiations for an investment treaty that would guarantee access for the nations' companies to buy assets in the other country, representatives said at the close of a week-long meeting in Annapolis.

Gold futures rose on Wednesday on speculation that a slumping U.S. economy will prevent the Federal Reserve from lowering interest rates, while soaring oil prices and a weaker dollar boosted the demand for the precious metal.

Refinery utilization was lower than typical in first quarter 2008. Actual first-quarter 2008 utilization averaged 84.7 percent, compared to the average of 89.1 percent during first quarter 2001 through 2005 (years where first quarter