IBT Staff Reporter

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NASA Probe Enters Orbit Around Mercury

NASA's MESSENGER spacecraft successfully entered orbit Thursday night marking the end of a six and a half-year journey to the solar system's innermost planet.

Brent tops $116 as Libya braces for U.N.-backed action

Brent crude jumped by more than $1 to $116 on Friday on fears of rising geopolitical tension in the oil-rich Middle East and North Africa, after the United Nations approved military action to contain Libyan leader Muammar Gaddafi.

Japan kicks off yen intervention as G7 agrees joint action

Japan bought billions of dollars to restrain a soaring yen on Friday, kicking off joint market intervention by the world's richest nations to calm global markets made nervous by the threat of a meltdown at a nuclear power plant near Tokyo.

BOJ signals easy policy intact, focus on fund injection

Bank of Japan Governor Masaaki Shirakawa reiterated the central bank's resolve to maintain its ultra-easy monetary policy following Friday's Group of Seven agreement to join in a rare coordinated intervention to restrain soaring yen.

Brent jumps above $116 as U.N. approves action on Libya

Brent crude jumped by more than $1 to stand above $116 on Friday on fears of rising geopolitical tensions in the oil-rich Middle East and North Africa, after the U.N. approved military action to curb Libyan leader Muammar Gaddafi.

Quake puts dent in rebounding Hawaiian tourism

Hawaiian tourism, a keystone of the state's economy just starting to rebound from a long slump, is taking a new hit from a plunge in Japanese leisure travel after the devastating earthquake and tsunami there.

Yen slides after G7 helps BOJ intervene, drop likely to slow

The yen tumbled more than 3 percent on Friday after Group of Seven finance ministers agreed to immediately and jointly intervene against the Japanese currency's surge to a record peak, with Bank of Japan buying pushing the dollar above 81 yen.

G7 agrees to joint currency intervention to help Japan

The Group of Seven industrial nations agreed on Friday to jointly intervene in the currency market to stem a sharp yen rise that complicates Japan's battle with the devastation caused by last week's violent earthquake and an unfolding nuclear crisis.

G7: agrees on joint FX intervention from March 18

The Group of Seven finance chiefs said authorities from the United States, Britain, Canada and the European Central Bank will join with Japan in joint foreign exchange intervention from Friday, at the request of the Japanese authorities.

Yen falls after G7 deal, further downside seen

The yen skidded on Friday after the Group of Seven finance ministers agreed to act to limit the currency's strength, with the dollar popping above 81 yen in a move that could put further pressure on players to unwind long yen positions.

Nasdaq plans for rival NYSE bid hit snag: report

Nasdaq OMX Group Inc's plans to launch a rival bid for NYSE Euronext faces hurdles as differences with potential partner IntercontinentalExchange Inc persist, the Wall Street Journal reported on its website on Thursday.

Steep coffee prices push Maxwell House up again

Kraft Foods said on Thursday it upped the U.S. prices for many of its coffees this week, raising Maxwell House by 22 percent, the biggest of four hikes in the past year as roasters face soaring markets.

UN Approves Military Force Against Gaddafi Forces

The United Nations Security Council has approved military strikes on Libyan air defenses, a move following weeks of talks led by France, Britain and the United States to mobilize the international community to take action against the regime of Muammar Gaddafi, which is engaged in armed conflict with rebels.

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