UNITED STATES

No sure bets as Conrad Black fraud trial nears end

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Wagering on the outcome of the Conrad Black fraud trial is a risky proposition, as lawyers representing the former media baron and three co-defendants present widely divergent versions of events in their final statements to the jury.
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Automakers eye House after fuel fight

The fight over higher automobile fuel efficiency standards shifts to the House of Representatives this week with big car companies regrouping after a stinging defeat in Senate energy legislation.
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Bear Stearns bails out hedge fund

Bear Stearns Cos. Inc. (NYSE: BSC) on Friday said it would provide up to $3.2 billion in financing for a struggling hedge fund it manages, raising concern about other funds that invested in bonds linked to subprime mortgages.
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Blackstone up 13 percent in NYSE debut

Blackstone Group LP (NYSE: BX) units rose 13 percent in their first day of trading on Friday, as the first major U.S. private-equity firm went public and minted billions of dollars of new wealth for its founders.
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Wall Street stumbles as subprime worries reemerge

Stocks tumbled on Friday, wrapping up their worst week since a global sell-off in February amid fears that trouble at two Bear Stearns hedge funds may signal worse problems lie ahead for credit markets.
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Web Recordings Worry TV Firms

Media companies fear that video recording software will facilitate piracy and rob them of lucrative advertising revenue just as they are making more TV shows, movies and video available online.
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U.S. company says grows embryo-safe stem cells

Researchers at a U.S. company trying to push the margins of stem cell research said on Friday they had grown human embryonic stem cells using a non-controversial method that did not harm the embryos.
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Cablevision could air 500 HD channels by year-end

Cablevision Systems Corp. said on Thursday it will have the capability to carry more than 500 channels of high definition television programming by year-end as competition mounts from satellite TV and telephone operators.
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Take-Two delays plans to distribute Manhunt 2

Video game publisher Take-Two Interactive Software Inc. said on Thursday it has suspended plans to sell Manhunt 2 after the title was slapped with restrictive ratings for its extreme violence.
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ADM considering offer for Brazil's Cosan: report

Archer Daniels Midland Co., the largest U.S. ethanol producer, is considering a purchase of Brazil's Cosan SA as ADM prepares to enter Brazil's sugarcane ethanol business, The Wall Street Journal reported on its Web site on Friday.
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Mugabe faces pressure as currency crashes

Zimbabwe's currency plunged to new depths on Friday as the U.S. ambassador to Harare predicted galloping inflation will force President Robert Mugabe from office before the end of the year.
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Jones Apparel near Barneys sale: report

Jones Apparel Group Inc. is near a deal to sell the Barneys New York high-end clothing chain for $825 million to Dubai's private equity firm Istithmar, The New York Times reported on Friday.
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Blackstone raises $4.1 billion

Blackstone Group LP priced its initial public offering at the top end of the range on Thursday, even as lawmakers pushed for its delay, raising $4.13 billion in the largest U.S. IPO since 2002.
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Tax woes drag on Blackstone

Blackstone Group LP's (NYSE: BX) initial public offering raised billions of dollars for its employees, but the private equity firm's shares might have performed even better if it weren't for the potential tax headaches, analysts said on Friday.
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Boeing, Airbus Pack Up at Paris

If Boeing Co. has been rocked by this week's stack of new plane deals announced by rival Airbus, it certainly isn't showing it.
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LSE bids 1.6 bln euros for Borsa: sources

The London Stock Exchange's offer for Borsa Italiana is worth about 1.6 billion euros ($2.14 billion), sources close to the situation said on Friday, a shade above a reported rival bid from NYSE Euronext and giving Borsa heavy board representation.
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Optimism for Home Values

Despite slow sales in the past four years, Americans believe their homes are worth more now than a year ago.
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Oil rises above $71 on Nigeria strike fears

Oil jumped more than a dollar to top $71 a barrel on Friday on fears a strike by Nigerian unions could intensify and disrupt shipments from the world's eighth-largest exporter.

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