IBT Staff Reporter

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Lagarde front-runner to take over IMF

Christine Lagarde, French Finance Minister emerged as the next IMF head on Thursday after Dominique Strauss-Kahn resigned and vowed to fight charges of sexually assaulting a hotel maid.

Apple, Sony cloud music service deal major blow to Google and Amazon

Apple and Sony Music Entertainment are nearing a deal that will allow licensed cloud-music services. Apple has made giant strides toward establishing their new music service by landing deals with major music labels. According to CNET, EMI Music and Warner Music Group has already signed on board the Apple cloud-music deal while Sony and Universal will be wrapping up soon.

Sabathia, Yankees stomp Orioles 13-2

The New York Yankees scored 13 runs off 14 hits in their rout of the Baltimore Orioles last night at Camden Yards. CC Sabathia spread seven hits over eight innings for the win, and Nick Swisher drove in four runs as the Yanks won their third in a row.

Tepco chief quits after $15 billion loss on nuclear crisis

Tokyo Electric Power Co reported a $15 billion net loss on Friday to account for the disaster at its Fukushima nuclear plant, marking the biggest loss in Japan by a non-financial company and prompting the firm to warn its future was uncertain.

Stock index futures flat; Gap eyed

Stock index futures pointed to a flat opening on Wall Street on Friday, with futures for the S&P 500 up 0.03 percent, Dow Jones futures up 0.02 percent and Nasdaq 100 futures down 0.01 percent at 4 a.m. EDT.

China Telecom in touch with Apple on CDMA iPhone

China Telecom Corp Ltd, the smallest of the country's three wireless carriers, has contacted Apple Inc to introduce the popular iPhone based on CDMA technology, Chairman Wang Xiaochu said on Friday.

NYSE working with Shanghai on international board

The New York Stock Exchange is working with China to launch the country's international board that will allow foreign firms to list on the mainland, in a move seen as a crucial step in developing its capital markets.

Tense meeting anticipated at White House

Some prominent Israeli reporters who are accompanying the Egyptian Prime Minister Benjamin Netanyahu on his trip to Washington, has predicted a stormy meeting between him and the US President. Netanyahu and Obama are scheduled for talks at the White House on Friday.

BOJ holds fire, unfazed by recession and first quarter

The Bank of Japan kept monetary policy steady on Friday in a sign that a first-quarter economic slump failed to undermine the central bank's confidence growth will pick up around autumn when the wounds from the devastating earthquake begin to heal.

World stocks edge up, supported by weak dollar

World stocks rose on Friday, supported by a weaker dollar as investors took the view after weak U.S. economic data this week that the Federal Reserve will be slow to raise interest rates.

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