IBT Staff Reporter

In a big win for business, the Treasury proposed on Friday to exempt commonly used foreign exchange swaps and forwards from new rules that have tightened oversight of other derivatives.

Microsoft Corp shares fell as much as 5 percent on Friday, a day after the software company reported a dip in its Windows operating system sales.

Gold surged to a record high on Friday for the third straight day, as investors kept up a buying frenzy fueled by the outlook for low U.S. interest rates that has propelled bullion to its seventh consecutive weekly rise, its longest winning streak since 2007.

Chevron and Total became the latest big oil companies to post sharp increases in profits as crude prices surged and refining margins improved along with global fuel demand.

Former hedge fund manager Donald Longueuil has pleaded guilty to conspiracy and securities fraud charges arising from an insider trading scheme in which he obtained and traded on material, non-public information, Preet Bharara, the United States Attorney for the Southern District of New York, said.

Microsoft Corp shares fell their most in almost two years on Friday, a day after the software company reported a dip in its Windows operating system sales.

David Bart Goldstein, a Baltimore lawyer, has pleaded guilty to distributing child pornography.

NASA's satellites caught the devastating tornadoes that ripped through the south.

The following are the wedding vows taken by Prince William and Catherine 'Kate' Middleton at The Collegiate Church of St. Peter, Westminster, which is also known as Westminster Abbey, in London on April 29, 2011.

The founder and president of a technology services company located in Rhode Island and Georgia has pleaded guilty in U.S. District Court in Providence to bribing a public official in a kickback scheme netting more than $9 million of naval funds, United States Attorney Peter F. Neronha announced.

The Justice Department has announced that Johnny Mathis, 47, of Lecompte, La., pleaded guilty to two federal crimes for shooting at the home of three Hispanic men living across the street from him because of the victims' race and national origin.

Alchico Grant and Melinda Clayton were indicted by a federal grand jury in the Middle District of Alabama on a variety of charges stemming from an identity theft and tax fraud scheme, the Department of Justice, U.S. Attorney Leura G. Canary and the Internal Revenue Service (IRS) have announced.

Both Microsoft and Research In Motion took stock hits on Friday after bad news about their flagship products.

A former U.S. probation officer, Mark John Walker, 52, of Eugene, Ore., has pleaded guilty to charges related to his engaging in sexual contact or aggravated sexual abuse with female offenders who were under his direct supervision as a federal probation officer from 2006 to 2009. Sentencing is scheduled for July 18, 2011 before Chief U.S. District Judge Ralph R. Beistline, who is a visiting judge from Alaska.

Barclays Plc is disputing a court order that lays out to which of Lehman Brothers Holdings Inc's assets Barclays is entitled from its rushed 2008 purchase of the company's North American arm.

According to a Gallup poll, over half of Americans belief that US economy is in Recession or Depression. More and more people are even preparing themselves and their families to become independent from the system, in order to survive a coming economic collapse, where the distribution of food and energy will break down.

U.S. District Judge Donald E. Walter have sentenced Jeremy Matthew Moro, 33, and Joshua James Moro, 23 pursuant to their January 2011 guilty pleas to conspiring to violate the civil rights of an interracial couple by burning a cross near their home in Athens, La., in October 2008.

Stocks rose on Friday on strength from Caterpillar and other industrials, lifting the Dow and Nasdaq to their best monthly performance since December.

The Royal Wedding ended but people around the world especially England is still in a festival mode. The Royal Wedding was almost all smiles on Friday, but for one very unhappy bridesmaid. Grace van Cutsem - just three years old - seemed unhappy camper. There are some funny and cute moment pictures of bridesmaids and pageboys.

U.S. stocks rose on Friday on strength from Caterpillar and other industrials, lifting the Dow and Nasdaq to their best monthly performance since December.

A former White House lawyer is all set to face trial for attempted murder and aggravated assault after plea negotiations broke down on Thursday.

The U.S. economy is not fully recovered from its deep recession, with housing still weighing on growth, Federal Reserve Chairman Ben Bernanke said on Friday in a speech spelling out ways the U.S. central bank has studied lower income communities.

A planet orbiting a star in Cancer is the densest and largest rocky world found so far.

Storm clouds over Research In Motion have darkened with a dismal profit warning, and the company's shares fell sharply on Friday after the company's third jolt of bad news in a month.

President Barack Obama, the governor of Alabama and Mayor of Tuscaloosa and other officials toured the massive wreckage of major thunderstorms and tornadoes that hit the city on Wednesday and vowed to press forward to help in recovery efforts while sounding a hopeful not despite the tragedy.

Renault sought to move on from an embarrassing botched spy probe, pledging on Friday to quickly find a new chief operating officer as it took a step toward firing a security executive at the heart of the investigation.

Amazon.com Inc apologized to customers for an outage at its Web hosting business that caused some websites to crash, saying it would credit them for their inconvenience.

U.S. consumers increased spending for a ninth straight month in March as they stretched to cover higher costs for food and gasoline, with inflation posting its biggest year-on-year gain in 10 months.

Warren Buffett could use a root beer float right about now -- the investment guru is feeling the heat from 40,000 shareholders who may want to criticize him, question whether he has lost touch or even push him to retire.