IBT Staff Reporter

The Italian government will pass a sweeping package of cuts and tax increases at a cabinet meeting Friday as it scrambles to meet European Central Bank demands for action to shore up confidence in its public finances.

J.C. Penney Co Inc forecast weaker-than-expected third-quarter earnings and further erosion in its gross margin, sending its shares down 3 percent in premarket trade.

If history is any guide, another oil-induced recession may be just around the corner, at least for the United States and some of the other developed economies.

"Dougherty Gang" member Lee Grace Dougherty, 29, told the FBI that she deserved to get shot in the leg. "I pointed the gun at the cop," she told the FBI. "I deserved to get shot," Dougherty added.

Stock index futures pointed to a higher open on Friday after the previous day's big move up as data showed retail sales posted their biggest gain since March.

Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.

Shares of graphics card maker Nvidia Corp rose 12 percent in pre-market trade on Friday after the company reported market-beating quarterly results and forecast strong third-quarter revenue on accelerating growth in its mobile business.

Facebook users are worried, as a rumor has it, that all the phone numbers in your phone are now on Facebook, whether you have allowed the access or not.

With yet another Premiership season awaiting kick-off here are the previews and predictions for matches involving Manchester United, Chelsea, Arsenal and Liverpool.

General Motors Co is recalling 16,198 Chevrolet Impala and Buick LaCrosse cars in the United States and Canada to address sensor and power steering problems, the automaker said on Friday.

Reeling from a debt crisis that has spread to the very heart of Europe, the continent is looking once again to the Franco-German duo that dreamed up the euro to save the single currency from ruin.

For years, low prices on China-sourced goods helped dampen inflation in the United States. Now China's efforts to boost domestic consumer spending, reducing reliance on exports, are leading to higher costs for multinationals that manufacture goods there.

LONDON/NEW YORK - An anorexic under doctor's orders to put on weight might fret unnecessarily about getting fat one day.

Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.

Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.

Housing bonds that are backed by Fannie Mae, Freddie Mac, or Ginnie Mae will all be adjusted.

Google Inc.?s Android powered tablets have collectively taken 20 percent of the market share away from iPad in the last 12 months.

J.C. Penney Co Inc reported a flat quarterly profit on Friday as sales were dampened by its exit from its catalog business, and the retailer became the latest department store chain to forecast continued sales gains in the current quarter.

U.S. futures were higher on Friday, signaling stocks would extend the previous day's big gains, after a rally in Europe and another strong outlook from a technology company.

A piecemeal ban on short-selling of financial stocks highlighted flaws in euro zone policy and investors said relief for bank stocks would be temporary in the absence of co-ordinated action by Europe's governments.

LONDON, Aug 12 - Options are rapidly running out for Europe's ailing mid-tier banks as nervous creditors pull the plug on once vital sources of funding in response to growing sovereign contagion worries, sowing the seeds of an imminent liquidity crisis at the heart of the eurozone.

The days when a mesh of wires and electrodes used to monitor patients are passé, as a group of researchers have designed a hair-thin wireless electronic film which can be patched on the skin directly for monitoring purposes.

U.S. stock index futures were little changed on Friday as investors took a step back from the massive volatility that has shaken markets recently.

China's bank lending slowed more than expected in July to seven-month lows as Beijing kept a tight grip on monetary policy to quell near three-year-high inflation.

French economic growth ground to a halt as household spending shrank in the second quarter, raising pressure on the government to announce cutbacks to convince turbulent markets it will deliver on debt reduction targets.

Facebook hit the limelight of the new social gaming launch of Google+ by upgrading its own gaming system, making it easier to find and play.

The latest buzz around the next rendition of Android comes via leaked screenshots of the upcoming Android OS, the Ice Cream Sandwich.

French Finance Minister Francois Baroin said on Friday the government's targets for growth and deficit reduction were not being altered after data showed growth ground to a halt in the second quarter of 2011.

Korean company Samsung Electronics will go to a German court on August 25 to try to overturn a ban on it selling flagship Galaxy tablets in most of the European Union.