IBT Staff Reporter

Oil prices retreated on Friday in choppy trading as uncertainties about Europe's plan to tackle its debt problems prompted some profit taking after the previous session's rally.

Allen Gregory, brought to life by Superbad actor Jonah Hill, debuts on Fox this Sunday telling of a pretentious boy named Allen Gregory, who struggles to adapt to public school after his family loses all its money.

Goldman Sachs Group Inc has been hit with a new $1.07 billion lawsuit for having allegedly sold risky debt that it expected would tumble in value to an Australian hedge fund, causing that fund to become insolvent.

A Canadian senator has launched a campaign to replace the industrious beaver with the indomitable polar bear as Canada's national emblem, saying the incumbent is a dentally defective rat.

Shares of MF Global Holdings Ltd hit another all-time low and bonds were in freefall on Friday as troubles intensified for the U.S. futures brokerage that is looking to sell off units in order to retain customers, and to survive.

Electronic brokers for customized structured products are set to hit the Swiss market next year, allowing investors to get even better deals from banks.

Sluggish income growth led U.S. households to cut back on saving in September to raise their spending, showing the economy's recovery remains fragile.

Cablevision Systems Corp's quarterly earnings widely missed Wall Street estimates as it faced a weak economy, high programing costs and increased competition from phone companies offering TV services.

Stocks edged lower on Friday as investors paused after a rally that lifted the S&P 500 index almost 20 percent from near bear market levels where it had sunk earlier this month.

Africa's new scramble for oil is heading east, where the potential could be huge but the risks are far higher than in the well-established sector on the continent's west coast.

Annual inflation in Kenya rose more than expected to 18.91 percent in October as food, electricity and fuel prices increased along with transport costs, but analysts said it was close to peaking.

A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.

Swiss Re has regained a prized credit rating lost during the financial crisis, a key step toward the reinsurer's goal of expanding its business.

South Africa's rand firmed on Friday and was on course to record its best week in two years, still benefiting from news of a deal towards resolving the euro zone debt crisis.

Election campaigning began in the Democratic Republic of Congo on Friday and organisers said the polls will go ahead on November 28 despite concerns over whether preparations have been adequate.

NATO confirmed on Friday it would end its Libyan mission next week, seven months after launching air and sea operations that helped bring the overthrow and death of Muammar Gaddafi.

The leader of the Islamist party which won Tunisia's first free election appealed for calm in the town where the Arab Spring began, accusing forces linked to the ousted president of fanning violence there.

Exchanges in London and Singapore said it was business as usual on their bourses for futures broker MF Global Holdings Ltd on Friday, after two rating agencies downgraded its debt to junk status.

A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.

Goodyear Tire & Rubber Co (GT.N) reported a much higher-than-expected third-quarter profit, helped by an 18 percent rise in revenue per tire, and its shares rose more than 7 percent.

Canadian stocks edged higher in early action on Friday, led by a rise in shares of gold and base metal miners, even as fading optimism over a European debt deal weighed on the broader market.

Barcelona star Lionel Messi has been backed by teammate Cesc Fabregas to leave behind his recent below-par form.

The world's two leading home appliance makers are cutting costs -- from jobs to factories -- as they face weaker demand in major markets from Europe to the United States, with recession-wary shoppers putting off big-ticket buys such as washing machines and refrigerators.

Samsung Electronics Co overtook Apple Inc as the world's top smartphone maker in the July-September period with a 44 percent jump in shipments, and forecast strong sales in the current quarter in a clear warning to its rivals.

Stocks edged lower on Friday as investors paused following a powerful rally that propelled the S&P 500 index almost 20 percent since briefly dipping into bear market territory earlier this month.

Whirlpool Corp, the world's largest maker of household appliances, will cut production and axe about a tenth of its workforce in North America and Europe, as demand softens for big-ticket items like washing machines and fridges.

Whirlpool Corp., the world's largest maker of household appliances, will cut production and axe about a tenth of its workforce in North America and Europe, as demand softens for big-ticket items like washing machines and fridges.

U.S. consumer sentiment improved in October for the second month in a row as consumers felt more upbeat about the economy's prospects, a survey released on Friday showed.

Merck & Co. announced on Friday that its net income grew to $1.69 billion from $372 million in the prior-year quarter, as gains from the company's diabetes and asthma medication offset losses from their Remicade and Simponi treatments for inflammatory diseases.