IBT Staff Reporter

Netbook PC pioneer Asustek Computer Inc posted an 8 percent rise in second-quarter net profit on Friday, above forecasts, and said it sees shipments of main products rising in the third quarter.

South Korea's LG Electronics hasn't been so smart with its smartphone business. Its mobile phone division has suffered five consecutive quarterly losses, cutthroat competition is pressuring it to overhaul the business and its shares have plummeted.

Asian shares edged up on Friday and gold slipped ahead of a speech by Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook later in the day, while the euro gained after Spain agreed on a constitutional debt brake.

Global stock market sentiment had weakened before Standard & Poor's cut the U.S. credit rating to AA+ from AAA, the rating agency's global head of sovereign ratings David Beers said on Friday.

American International Group Chief Executive Robert Benmosche has complained to senior executives at investment banks about the unfavorable research of the insurer's stock, the Wall Street Journal said, citing people familiar with the matter.

Warren Buffett showed again that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.

Asian shares edged up marginally on Friday as investors waited for a speech by Federal Reserve Chairman Ben Bernanke later in the day, while nervousness about the U.S. economic outlook sent the dollar higher.

Groupon Inc. CEO Andrew Mason, lashing out at what he called insane and hilarious criticism in the media, defended the daily-deals Web site's record and growth strategy in a lengthy memo to employees Thursday.

Groupon Inc CEO Andrew Mason, lashing out at what he called insane and hilarious criticism in the media, defended the daily-deals website's record and growth strategy in a lengthy memo to employees on Thursday.

Warren Buffett showed again this week that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.

It's the thing you don't see that's always the scariest part of a horror movie. And it's those places you can't see as a kid -- underneath the bed, inside the closet, up in the attic -- where the horrible child-eating monsters are always waiting to get you.

The arraignment for a California mom accused of pushing her 7-month-old baby to his death from a parking structure was postponed on Thursday after a doctor found her mentally unfit to go to court.

A fire in a rail tank car that prompted evacuation of 4,800 homes and businesses in the Northern California city of Lincoln has burned out, authorities said on Thursday.

After being written off as dead, Foxhas renewed the Christian Slater comedy Breaking In, for a 13-episode second season, the network said on Thursday.

From the poster, you might think Our Idiot Brother has all the elements for a great comedy -- Paul Rudd starring as a sweet, stoned doofus, opposite a cast of hilarious heavyweights like Elizabeth Banks, Emily Mortimer, Steve Coogan, Zooey Deschanel, Rashida Jones and Adam Scott.

The police procedural White Collar has been locked in for a fourth season, with USA ordering 16 more episodes of the series, the network confirmed on Thursday.

Actress Vera Farmiga (Up in the Air) makes a heavenly debut as a director with Higher Ground, a compelling drama about a woman's spiritual journey.

United States captain Fred Couples ended speculation over whether Tiger Woods might be selected for the Presidents Cup in November by saying on Thursday the former world number one would be a wildcard pick.

Apple Inc (AAPL.O) began a new era on Thursday without Steve Jobs as chief executive, a momentous shift that surprised investors, but barely dented confidence in the near-term outlook for the stock.

Jen and Barb are just your average moms.

The Wonder Years might not be turning out so wonderfully at all. At least for one former executive overseeing the show.

Apparently, appearing on her daughters' myriad reality shows isn't enough screen time for Kris Jenner.

While many will probably refer to Circumstance in shorthand as the Iranian lesbian movie, part of what makes the film so powerful is its portrayal of modern-day Iran as a country so oppressive that you don't even have to be a lesbian to suffer there.

The next season of Dancing With the Stars just got a lot more interesting, if TMZ is to be believed.

I hate you. I hate the way you look, I hate the way you talk, I hate everything about you, says Pinkie Brown to his betrothed on their wedding day. She can't hear him, as he's in a sound booth recording his words while she blithely smiles at him through the glass.

Yahoo, Google, Amazon and Dish have bid or are about to bid on the video streaming site, Hulu, according to an individual with knowledge of the auction.

The monster at this weekend's box office has nothing to do with the movies.

Groupon Inc CEO Andrew Mason, lashing out at what he called insane and hilarious criticism in the media, defended the daily-deals website's record and growth strategy in a lengthy memo to employees on Thursday.

Former New York Mets star Lenny Dykstra was charged on Thursday with exposing himself to a string of women who answered his Craigslist employment ads, Los Angeles city prosecutors said on Thursday.