IBT Staff Reporter

After reports that contestants Casey Abrams and Haley Reinhart are dating, OK! Magazine is now reporting that American Idol heartthrob, Paul McDonald, is dating Twilight star Nikki Reed.

International law firm Dechert LLP is serving as co-counsel to NORMA Group AG, a German-headquartered global industrial manufacturer and portfolio company of global private equity house 3i Group plc, on its initial public offering on the Frankfurt Stock Exchange.

Oil hit a 32-month high above $124 Friday after attacks on Libyan oil fields raised the prospect of long-term supply cuts, with commodities in general rising on optimism global economic recovery will fuel demand.

Senate Majority Leader Harry Reid told reporters on Friday that negotiators from the House and Senate attempting to avert a government shutdown had agreed to $38 billion in spending cuts for the current fiscal year, but it was unclear what would be done about Republican requests to defund Planned Parenthood and place new restrictions on the Environmental protection agency.

Sales for the 3DS took a nosedive in Japan last week as Sony's PSP overtook the top spot.

U.S. stocks rose slightly on Friday as investors speculated quarterly earnings would show continued growth, but volume was expected to be light.

LAS VEGAS (Reuters Life!) - U.S. student Devin Valencia, the first member of her family to graduate from college, hopes others will do the same with her prizewinning idea for a Facebook application for finding financial aid.

The innovative accelerated program will give students an opportunity to earn their doctoral degrees in communication in as short a period as three years.

A team of graduate students has created a new smartphone application they say will allow healthcare workers in remote locations to diagnose malaria cases on the spot.

The aftershocks of the Tohoku earthquake that rocked Japan Thursday night have caused spills of radioactive water and power losses at no less than three different nuclear facilities.

Charlie Sheen's Violent Torpedo of Truth/Defeat is Not an Option tour is stopping in New York City this weekend.

U.S. stock index futures pointed to a higher open on Friday as investors speculated quarterly earnings would show continued growth, but volume during the session was expected to be light.

U.S. securities regulators may ease constraints on share issues by private companies, making it easier for start-ups to raise money, the Wall Street Journal reported.

Samsung Electronics Co Ltd, the world's No.2 handset manufacturer, plans to roll out a new version of its flagship smartphone Galaxy S in South Korea this month through KT Corp, the telecommunications operator said on Friday.

Israel believes Turkey is actively helping Iran to sidestep economic sanctions and has also turned a blind eye to Iranian weapons smuggling into Syria, according to leaked U.S. diplomatic cables published on Friday.

President Barack Obama said late Thursday that the federal government is starting to prepare for a shutdown and is seeking an early morning answer from Congressional negotiators on a possible budget deal.

Expedia Inc, the largest online travel agency, said it plans to split into two publicly traded companies through a proposed spin-off of its TripAdvisor business, and its shares shot up 13 percent in after-hours trading.

Oil hit a 32-month high near $125 on Friday after attacks on Libyan oil fields raised the prospect of long-term supply cuts, with commodities in general rising on optimism global economic recovery will fuel demand.

Facing a midnight deadline, the White House and Congress worked furiously on Friday to break a budget deadlock and avoid a federal government shutdown, after President Barack Obama and congressional leaders failed to reach a deal in late-night talks.

U.S. stock index futures rose on Friday on higher commodity prices, although volume was expected to be light until investors get a look at the first earnings reports.

Goldman Sachs has bought a 12 percent stake worth more than $900 million in China's Taikang Life Insurance Co Ltd, giving the Wall Street giant a foothold into the world's biggest insurance market.

Euro zone finance ministers told Portugal on Friday that it would have to implement new economic reforms that went beyond those proposed by its outgoing government if it hoped to secure aid from the EU and IMF.

U.S. stock index futures rose on Friday, led by energy and material stocks, as optimism about increased economic demand pushed commodity prices higher.

Let me be crystal clear, Barclays' star investment banker and new Chief Executive Bob Diamond told members of the British parliament in January. We are going to be here in the United Kingdom, and this is the place that we want to succeed.

Liverpool skipper Steven Gerrard will be out for the rest of the season after sustaining another groin injury.

A research report from The National Center for Atmospheric Research says climate control will damage cities in undeveloped countries.

XenoPort (NASDAQ: XNPT) and GlaxoSmithKline Plc (LON: GSK) said the U.S. Food and Drug Administration (FDA) has approved Horizant, a treatment for restless legs syndrome (RLS) that the companies developed together.

The venomous Egyptian cobra that slithered her way to worldwide fame by escaping her enclosure at New York's Bronx Zoo for a week has been given a name -- Mia as in missing in action.

A gunman barged into a classroom and opened fire in Tasso da Silveira School in Rio de Janeiro, killing 11 students.