IBT Staff Reporter

The Federal Communications Commission on Friday extended the public comment period for the joint venture between Comcast Corp and NBC Universal because it has not received additional economic data requested from the companies supporting their deal.

The Office of Thrift Supervision, the regulator of Washington Mutual before it became the biggest banking bust in U.S. history, came under fire on Friday by lawmakers probing the roots of the financial crisis.

Research in Motion Ltd says it is far from certain that video will become the killer app that defines smartphones, but even so the BlackBerry maker says developing more efficient delivery is necessary to prevent video from choking airwaves.

Google Inc shares fell more than 7 percent on Friday after its quarterly results came in short of expectations, leading some analysts to cut price targets on concerns about growth.

Goldman Sachs Group Inc was charged with fraud by the U.S. Securities and Exchange Commission over its marketing of a subprime mortgage product, igniting a battle between Wall Street's most powerful bank and the nation's top securities regulator.

Goldman Sachs Inc may have to cough up a big fine to settle the civil lawsuit brought by U.S. regulators and the issue poses the biggest threat to the reputation of the influential bank, analysts said.

The U.S. central bank's withdrawal of extraordinary monetary stimulus for the economy should be done as deliberately as possible, a senior Federal Reserve official said on Friday.

President Barack Obama said on Friday he would veto a planned financial regulation law that did not bring the derivatives market under control -- hours after influential bank Goldman Sachs was charged with fraud.

Permits to build new U.S. homes surged in March to a 17-month peak and construction activity was the most vigorous in more than a year, providing fresh evidence that economic prospects are brightening.

Senator Blanche Lincoln on Friday unveiled a long-awaited draft bill to regulate the $450 trillion over-the-counter derivatives market, taking a tougher tack against big banks than the Senate Banking Committee or House bills on the issue.

Financial stocks plunged on Friday in the heaviest trading this year, dramatically ending Wall Street's six-day winning streak as fraud charges against Goldman Sachs and disappointing earnings sent investors running for cover.

The chairman of the Federal Deposit Insurance Corp on Friday said that for years before Washington Mutual became the biggest bank bust in U.S. history, the agency was prevented from examining the bank by a rival regulator.

The U.S. central bank should exit from its extraordinarily accommodative monetary policy as deliberately as it can, a senior Federal Reserve official said on Friday.

The Obama administration's pay czar issued rulings on Friday for a second tier of top earners at bailed-out companies and said far fewer were getting big cash salaries this year than last.

Bank of America Corp posted its first quarterly profit since summer 2009 as it generated outsized bond trading revenue and set aside less money to cover bad loans.

The Obama administration's pay czar issued rulings on Friday for a second tier of top earners at bailed-out companies and said far fewer were getting big cash salaries this year than last.

After an over night train ride, the night after having an overnight plane ride, I wouldn't generally think my wits are at their most fine tuned. Thankfully after arriving in Luxor and checking into a hotel I find I can still notice a red herring when I see one.

Mention an expedition cruise to Antarctica and the first departure point that comes to mind is most likely South America. When you think about the ship, you might imagine a clunky looking ex-research vessel or perhaps a Russian ice breaker that's been converted into a tourist ship.

Investors slammed the door on a six-day winning streak for U.S. stocks with a sell-off on Friday after Goldman Sachs was charged with fraud by U.S. regulators and corporate earnings fell short of heightened expectations.

To get financial reform legislation through the U.S. Senate Democrats need to peel away just one Republican to support their sweeping bill.

(Corrects to show Senator Gregg is retiring.)

China remains on course to gradually put in place a managed floating exchange rate system, President Hu Jintao said in a speech released on Friday amid pressure on Beijing to let its yuan currency strengthen.

Unemployment rates continued to fall in March in many U.S. states, the Labor Department said on Friday, sparking cautious optimism that an economic recovery is dawning.

More U.S. graduates are likely to work with aid groups and charities after an overhaul of the country's student loan program lessens their debt repayment burden, former U.S. President Bill Clinton said.

Countries negotiating a deal to curb trade in fake and pirated goods are close to reaching an agreement in talks that have raised concerns among digital rights advocates, U.S. trade officials said on Friday.

U.S. airlines, which are set to report quarterly losses starting next week, also are poised for a stronger 2010, helped by an economic rebound that bolsters traffic, fares and the chances for an industrywide merger frenzy.

U.S. airlines, which are set to report quarterly losses starting next week, also are poised for a stronger 2010, helped by an economic rebound that bolsters traffic, fares and the chances for an industrywide merger frenzy.

The U.S. economy is in the throes of a cyclical recovery and there are encouraging signs of improvement in financial markets, a senior Federal Reserve official said on Friday.

Wall Street slid on Friday, led by bank shares, after Goldman Sachs was charged with fraud by U.S. regulators and after big company earnings fell short of heightened expectations.