IBT Staff Reporter

Home sales hit an 11-month high in December and the number of properties on the market was the fewest in nearly seven years, pointing to a nascent recovery in the housing sector.

Oilfield services leader Schlumberger reported a higher-than-expected rise in fourth-quarter earnings and remained cautiously optimistic about 2012 despite the potential for Europe's debt crisis to hurt economic growth and oil demand.

The S&P 500 and Nasdaq dipped on Friday after a pair of bellwether corporate earnings fell short of lofty expectations, though a trio of strong results from Dow components kept the blue-chip average in positive territory.

Airlines utilizing the Airbus A380 will be required to conduct enhanced inspections following findings of cracks inside the wings of the aircraft, the European Aviation Safety Agency announced Friday.

Europe's safety regulator on Friday ordered urgent inspections on almost a third of the Airbus A380 fleet after cracks were found inside the wings of the world's largest jetliner.

Sales of previously owned U.S. homes rose to an 11-month high in December and the supply of properties on the market dropped to a near 7-year low, an industry group said on Friday, pointing to a nascent recovery in the housing market.

The S&P 500 and Nasdaq dipped on Friday after a pair of bellwether companies' earnings fell short of lofty expectations, though a trio of strong results from Dow components kept the blue-chip average in positive territory.

Shares of Google Inc fell 8 percent after the Internet giant's quarterly earnings missed estimates as money paid by marketers for its search ads fell for the first time in two years.

Europe's safety authorities on Friday ordered urgent inspections on a third of the Airbus A380 fleet after the discovery of wing cracks on the world's largest jetliner.

Lawmakers on Friday indefinitely postponed anti-piracy legislation that pits Hollywood against Silicon Valley, two days after major Internet companies staged an online protest by blacking out parts of prominent websites.

Mobile telecoms network equipment market leader Ericsson and rival ZTE have settled a dispute over patents that will see the up-and-coming Chinese company pay royalties to the Swedish firm.

Senate Democratic leader Harry Reid on Friday postponed a showdown vote in his chamber on the PIPA online anti-piracy bill that pits Hollywood against Silicon Valley.

JAN 20 - Intel Corp announced a string of top-level management changes on Friday, including the elevation of 20-year company veteran Brian Krzanich to Chief Operating Officer.

In case you missed the Republican presidential debate in Charleston, S.C., Thursday night, here are the highlights, from Newt Gingrich's opening tirade against moderator John King of CNN to Ron Paul's defense of leaving abortion laws to the states.

Portugal clinched a deal on ambitious labor market reforms this week and carried out its biggest debt sale since seeking a 78-billion-euro bailout, but the challenges for the second-most risky country in the euro zone may be shifting up a gear.

European safety authorities are set to order airlines to carry out checks on almost a third of the current Airbus A380 fleet after the discovery of wing cracks on the world's largest jetliner, aviation sources said Friday.

The S&P 500 and Nasdaq edged lower on Friday after GE and Google results fell short of expectations, while investors awaited a resolution in the latest round of Greek debt talks.

Investors rattled by unpredictable global markets are losing faith in star managers to shield them from painful losses, with some of the industry's best known names topping a list of funds which hemorrhaged cash in 2011, Lipper data shows.

Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market tumbled to a near 7-year low, pointing to a nascent recovery in the housing market.

Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market dropped to a near 7-year low, an

U.S. stocks edged lower on Friday after GE and Google results fell short of expectations, while investors awaited a resolution in the latest round of Greek debt talks.

General Electric Co's fourth quarter revenue fell more sharply than expected, hurt by weakness in Europe and unfavorable foreign exchange rates, sending its shares down about 3 percent in premarket trading.

Schlumberger Ltd , the world's largest oilfield services company, reported a 36 percent rise in quarterly earnings, beating Wall Street forecasts, but it warned that Europe's debt crisis could hurt economic growth and trim oil demand.

U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows.

The 7.5 billion euro ($9.7 billion) rights issue by UniCredit SpA looks set to be almost entirely taken up, allowing it to meet tougher capital requirements being imposed on the euro zone's beleaguered banks.

EU states and the European Parliament have cancelled Monday's talks aimed at striking a deal to tighten laws on the $700 trillion derivatives market, after the states failed to settle on a negotiating position.

New York corporate financier Ron Perelman and his longtime business partner and best friend Donald Drapkin had a bad falling out when Drapkin left Perelman's company five years ago.

Google Inc's quarterly results fell short of Wall Street's heightened expectations for the holiday season as declining search advertising rates contributed to a rare miss, triggering a 9 percent slide in its shares.

Stocks were set for a slightly lower open on Friday after GE and Google results fell short of expectations and as investors looked for a resolution in the latest round of Greek debt talks.