IBT Staff Reporter

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Imports stifle U.S. 2nd-quarter growth

U.S. economic growth was revised down to a sluggish 1.6 percent annual rate in the second quarter, pointing to an even softer performance in the third quarter.

BofA loses bid to end investor lawsuits on Merrill

A Manhattan federal judge refused to dismiss shareholder lawsuits against Bank of America Corp and various executives and directors over the purchase of Merrill Lynch & Co during the 2008 financial crisis and disclosures about Merrill's losses and bonus payouts.

Esophageal cancer rates rise steeply in men

Rates of esophageal cancer in men have risen by 50 percent in Britain in a generation, an increase that is probably being driven in part by growing rates of obesity and poor diet, scientists said on Saturday.

FDA gets tougher with certain drug trials

The U.S. Food and Drug Administration is cracking down on use of certain clinical trials that show a new drug is no worse than another already on the market, according to a government report released on Friday.

Tribune files new bankruptcy plan

Citing the ongoing nature of talks with creditors, Tribune Co on Friday announced it would not file amendments to its bankruptcy plan at the present time.

Intel warns of sales shortfall

Intel Corp warned that third-quarter revenue could fall short of its own estimates by more than $1 billion, reinforcing doubts about the strength of a technology sector recovery.

BP to retrieve Macondo blowout preventer next week

BP Plc aims to retrieve a failed blowout preventer from its ruptured Macondo well in the Gulf of Mexico Tuesday or Wednesday next week, the top U.S. official overseeing the spill response said on Friday.

Paul Allen's Interval sues Apple

Microsoft Corp co-founder Paul Allen's Interval Licensing filed a lawsuit accusing 11 major corporations, including Apple, Google and Facebook, of infringing on its Internet search patents.

Car bomb explodes outside Mexico TV studio

A car bomb exploded outside the studios of a top TV broadcaster early on Friday, days after marines found the bodies of 72 people gunned down in Mexico's escalating war with powerful drug cartels.

Technical support and short covering boost stocks

Stocks rebounded to post their best gains in nearly four weeks on Friday, overcoming initial skittishness brought on by a revenue warning from Intel and dour comments from Federal Reserve Chairman Ben Bernanke.

Imports stifle 2nd-quarter growth

The economic recovery was weaker than originally estimated in the second quarter and analysts have now revised forecasts for third quarter growth down also.

FTSE 100 ends two-week losing run

The top share index rose 0.9 percent on Friday, lifted by telecoms, and ended two straight weeks of losses, though trading was thin as investors remained wary of the United States slipping back into recession.

Stocks climb as bears lock in gains

U.S. stocks rose on Friday on buying by investors holding short positions who locked in profits after a revenue warning from a major technology company and downbeat remarks by Federal Reserve Chairman Ben Bernanke.

FDA releases latest list of safety issues

The U.S. Food and Drug Administration has released its latest list of possible drug safety concerns, citing Roche's breast cancer drug Herceptin and Sanofi Aventis' heart drug Multaq, among others.

AIG insurers cover $60 million of ex-CEO, ex-CFO costs

Former longtime AIG chief Maurice Hank Greenberg and another former executive will get $60 million from the company's insurers to cover legal and other costs as part of a proposed settlement of investor lawsuits, court papers show.

Ford recalls 463,000 Windstar vans

Ford Motor Co> is recalling nearly 463,000 Windstar vans from model years 1998 to 2003 in cold-weather U.S. states due to the possibility that the rear axle may fracture due to corrosion, federal regulators reported on Friday.

Boeing delays 787 delivery on Rolls engine setback

Boeing Co has pushed back delivery of its first 787 Dreamliner by several weeks -- a widely expected decision but also the latest in a series of embarrassing glitches that have disrupted production of the hotly anticipated aircraft.

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