IBT Staff Reporter

A trade row between Thailand and the Philippines threatened to derail a regional free trade pact on Friday, as hosts Thailand cast tight security over an Asian summit twice postponed due to anti-government protests.

South East Asian leaders are meeting in Thailand to work toward creating a political and economic union for the region by 2015.

Microsoft Corp's quarterly profit and revenue beat Wall Street expectations, sending shares of the world's largest software maker sharply higher on Friday.

A storm moving toward the northeast of the Philippines weakened on Friday but hundreds of people fled coastal areas, fearing for their lives after powerful typhoons in recent weeks killed more than 920 people.

Chinese President Hu Jintao, made the fifth phone conversation with U.S. President Barack Obama Wednesday. President Hu expressed his confidence that a positive outcome at the upcoming Copenhagen world climate summit in December could be provided improvement in bilateral relations and faced the weather pattern challenge.

The administration plans to send Congress on Monday new draft legislation that would give the government authority to dismantle large financial companies that get into crises, U.S. Representative Barney Frank said on Friday.

The United States has formally asked Switzerland to extradite film director Roman Polanski, who fled sentencing in California on child sex charges in 1978, the Swiss justice ministry said on Friday.

Japanese Prime Minister Yukio Hatoyama said on Friday there was no need to rush a decision that could stall a realignment of U.S. troops in the country, as tension grows over an issue that could fray ties with Washington.

Soupy Sales, a pioneer of slapstick television comedy who once estimated he had taken 20,000 pies in the face, died on Thursday night in a New York hospice, the Detroit Free Press reported. He was 83.

A Bahamian lawmaker who caused a judge to order the retrial of two people accused of trying to extort $25 million from actor John Travolta was just repeating a rumor when he prematurely announced an acquittal verdict, his lawyer said on Thursday.

Oilfield services leader Schlumberger Ltd reported slightly better-than-expected quarterly earnings on Friday but warned North American natural gas activity would remain weak until late 2010.

The Dow and the S&P 500 indexes moved lower on Friday as a brief boost from September existing home sales data evaporated, and gains in the U.S. dollar diminished the appetite for riskier assets.

Major U.S. airlines have matched a domestic fare increase initiated by AMR Corp's American Airlines, marking the fifth industry wide fare hike in 2009, a top fare analyst said on Friday.

NATO ministers agreed on Friday on the need to boost training of Afghan forces to allow them eventually to take over from international troops and to insist on higher standards from the next Afghan government.

Rockers Bon Jovi on Thursday announced a world tour of almost two years to promote their 11th studio album The Circle.

Iran on Friday failed to accept a U.N.-drafted plan for it to cut a stockpile of nuclear fuel that the West fears could be used for weapons, instead calling for responses to its own proposal.

A Taliban suicide bomber killed eight people outside a key Pakistani airforce facility Friday, with officials quick to deny suggestions the target was linked to the country's nuclear program.

A small group of Michael Jackson's dedicated fans have started an awareness campaign surrounding the upcoming movie This is It, saying it covers up the grim reality of the dead pop star's final days.

Expect bloody competition for the top spot at the weekend box office.

Oil prices slipped back below $81 a barrel on Friday after skepticism the economic recovery was robust enough to spur a convincing rise in fuel demand quelled the appetite to extend this week's powerful rally.

Anne Hathaway, Neil Patrick Harris and Rodrigo Santoro are negotiating to lend their voices to Rio, the next collaboration between Blue Sky Studios, Fox Animation and director Carlos Saldanha, all of whom are riding the $882 million global tsunami of Ice Age: Dawn of the Dinosaurs.

Finnish Christmas film Niko & The Way to the Stars, Ireland's The Secret of Kells and Mia and the Migoo from French director Jacques-Remy Girerd are the nominees for best animated feature film for the 2009 European Film Awards.

General Motors put on hold a deal to sell a 55 percent stake in carmaker Opel to a Russian-backed consortium led by Canadian automotive group Magna , GM's chief negotiator on the deal said on Friday.

Ingersoll-Rand PLC , a maker of heating and cooling systems for homes, businesses and transport, reported a 5 percent drop in quarterly profit on Friday and said it continued to see challenges in its markets.

Microsoft Corp smashed Wall Street's profit and sales expectations on Friday, sending its shares up 9 percent, as the PC market showed signs of stabilizing and sales of its Windows software and Xbox game consoles held up much better than expected.

European solar equipment makers are slowly emerging from the crisis that has hit the sector, quarterly results will show, but the outlook beyond 2009 will be uncertain due to tight credit and oversupply.

Power company Exelon Corp posted an 8 percent increase in third-quarter profit, but its revenue fell far short of Wall Street expectations and it dropped its forecast to the bottom end of its previous range.

U.S. drug firm Pfizer has approached several Indian drugmakers for possible alliances to bolster its revenues, the Economic Times reported on Friday.

Diversified U.S. manufacturer Honeywell International Inc posted a 15 percent profit drop that was far less severe than analysts had forecast, sending its shares higher in light premarket trading.