IBT Staff Reporter

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Newell cuts forecast as costs rise

Newell Rubbermaid Inc cut its outlook for the year blaming a weak economy and a rise in costs, leaving investors jittery as the company gets ready to replace its CEO of five years.

Stocks on track for fifth down week

Wall Street headed for its worst week in over two months on Friday after a dismal jobs report, with a worsening economic outlook threatening further falls from current six-week lows.

Videogame heavyweights seek fresh start at E3 powwow

Comeback stories will be the unofficial plotline of next week's Electronic Entertainment Expo, the annual event where the videogame industry shows off a dizzying display of new games, consoles and assorted gadgets.

NBA FINALS Game 2: Dirk Nowitzki Leads Comeback Victory (Photos)

Dirk Nowitzki played with an injured finger but that did not stop him from scoring the Mavericks game winning basket with less than 4 seconds in the game for one of the greatest comeback games you will see. Miami could not convert on a Dwayne Wade 3-pointer on the final play and the Heat will now need to win a game in order to come comeback home in the series. The Mavericks will play the next 3 games at home, giving them an opportunity to secure an NBA title in Dallas.

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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