IBT Staff Reporter

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U.S. raises Google hack allegation with China

The United States has asked Beijing to investigate Google's latest allegation of a major hacking attack that the Internet giant says originated in China, the State Department said on Friday.

Instant view: Payroll growth disappoints in May

U.S. employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan's earthquake bogged down the economy.

Stocks face five weeks of losses

A dismal jobs report drove shares lower on Friday on fears of an economic slowdown, but with the market facing five weeks of losses, signs of growth in the U.S. services sector lifted stocks off their lows.

Employment growth slows sharply in May

The U.S. economy may be in for a prolonged period of soft growth as employers hired the fewest number of workers in eight months in May and the unemployment rate rose to 9.1 percent.

Donnie Walsh to step down as Knicks president

Donnie Walsh, president of basketball operations for the New York Knicks iexpected to step down from his post when his contract expires at the end of the month, team owner James Dolan said in a statement.

Analysts cut RIM price targets as competition intensifies

At least two brokerages cut price targets on Research In Motion as they expect rival Apple's iCloud service and concerns over its inability to tackle competition from iPhone and Google's Android-based smartphones to hurt the BlackBerry maker.

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