IBT Staff Reporter

The Group of Eight leaders agreed on Friday that the global economy recovery was becoming more self-sustained, although higher commodity prices were hampering further growth.

Struggling carmaker Saab said it would restart production by noon on Friday after an idle of almost two months due to a cash crunch, in time for a first visit by would-be Chinese partner Pangda <601258.SS>.

Ratings agency Fitch on Friday cut its outlook on Japan's sovereign debt to negative from stable, warning that the massive cost of a March earthquake and tsunami would put added strain on the country's already shaky public finances.

The world's fastest man wasn't quite at his best in his comeback race, but he still did enough to edge out compatriot Asafa Powell by 0.02 seconds to win the 100m sprint at Rome Golden Gala.

The outlook for China's car industry had turned to neutral from positive, weighed down by factors such as rising inflation and weaker consumer confidence, the top executive of SAIC Motor Corp <600104.SS> said on Friday.

Struggling Irish telecoms group Eircom said on Friday it is still in talks with its shareholders and intends to hold discussions with lenders ahead of a likely breach in its financial covenants within the next three months.

Rural homes and businesses in Devon, Somerset, Norfolk and Wiltshire will get super-fast broadband connection, the UK government has said.

Libya's government has pushed for a ceasefire, saying for the first time it is prepared to talk to the rebel adversary.

Production at Toyota Motor Corp <7203.T> and Honda Motor Co <7267.T> is likely to recover more quickly than initially feared after Japan's massive earthquake wreaked havoc with their supply chains and halved output in April.

Europe's shares advanced on Friday, led higher by banks after a media report that stringent capital requirements for European banks could be relaxed, and helping power world stocks up for the fourth straight day.

China's meteorological authority issued an alert on Thursday for the super typhoon nicknamed Songda as it moves near the country's southern coast, state-owned media Xinhua reported today.

General Motors will create 110 jobs and invest $331 million to purchase tooling and equipment and expand the Arlington Assembly Plant to make future Chevrolet Tahoes, Suburbans, GMC Yukons and Cadillac Escalades, the carmaker said on Thursday.

Asian stocks posted solid gains for a second consecutive day on Friday as market players scooped up bargains while the euro pushed higher, though the currency's gains may be limited for now as fears of a Greek default weighed on sentiment.

More than 40 Yemenis were killed as violence erupted in Sana’a peaceful pro-democracy protests. Yemen was on the verge of a civil war as there was overnight combat between the government forces and tribal militia.

Samsung SDI said on Friday it would invest 2.2 trillion won ($2 billion) in the solar battery business by 2015 to generate 3.5 trillion won in revenue from a new business it is acquiring from its affiliate Samsung Electronics.

The proliferation of smartphones in South Korea is transforming this former walled garden ruled by local players into one of Asia's most promising destinations for global Internet and social networking firms.

Toyota Motor Corp <7203.T> and Honda Motor Co <7267.T> saw their global production slump to around half of year-ago levels in April after the March 11 earthquake and tsunami wreaked havoc with their supply chains.

U.S. shoppers soon will be able to use mobile phones to pay for things at the checkout counter under a system unveiled by Google Inc and other major companies.

EBay and its online payment unit PayPal Inc on Thursday filed suit against Google Inc and two executives for trade secret misappropriation related to mobile payment systems.

RALEIGH, North Carolina - Jimmy Buffett has partnered with THQ to bring Margaritaville Online to Facebook and iOS devices this fall, but attendees of E3 in Los Angeles will get a first look at the game. The casual online video game is targeting Buffett's devoted followers, known as Parrotheads, along with the 45 million Facebook gamers who play FarmVille.

Technology giant Google launched its popular but controversial mapping service Street View project in Bangalore on Thursday.

Calling the case a brazen and outrageous fraud, Facebook founder Mark Zuckerberg urged a federal court on Thursday to dismiss a lawsuit by a New York man claiming he owns a huge stake in the social networking website.

Kim Kardashian is engaged to the NBA's Kris Humphries but it seems that the ring he gave her is getting all the attention.

Senators hoping to rein in high oil and gasoline prices slammed the futures market regulator on Thursday for not moving faster to crack down on out-of-control speculators in commodity markets.

EBay and its online payment unit, PayPal Inc, on Thursday sued Google Inc and two executives for stealing trade secrets related to mobile payment systems.

Goldman Sachs Group's Whitehall Real Estate Funds restructured $1.42 billion of debt due April 2012 on one of its largest hotel portfolios, the Wall Street Journal reported, citing people familiar with the matter.

by Adam TempkinNEW YORK, May 26 - Increasingly aggressive property appraisals, so-called incentive management fees for hotel properties, and the limited return of pro forma underwriting are among the troubling trends that Standard & Poor's cites as red flags in the quickly evolving revival of the commercial mortgage-backed security market.

Lee DeWyze, last year's American Idol winner, refused to hand out what he said was a next-to-last minute request to hand out the winner's trophy to this year's winner Scotty McCreery, a move made the show's producer very upset.

Billionaire shipping tycoon John Fredriksen said a U.S. lawsuit against his oil trading companies may be a bid to extract revenge for BP's oil spill last year by targeting former BP traders who now work for him.