IBT Staff Reporter

UBS AG has formally warned wealthy American clients that their secret Swiss accounts may be revealed to U.S. tax authorities after next Wednesday's expiration of a U.S. amnesty program.

From Detroit's union halls to its boardrooms, the consensus belief is that billions of dollars in federal investment and loans kept the American auto industry from collapse.

Apple's new Snow Leopard operating system has hit the ground running, according to research data released Thursday.

Leaders of the Group of 20 nations are expected to agree at their summit in Pittsburgh next week to coordinate their public statements on exit strategies, G20 sources preparing for the meeting said on Friday.

Federal Communications Commission Chairman Julius Genachowski will unveil in a speech on Monday new proposals that would force Internet providers to treat the flow of content equally, sources familiar with the speech said on Friday.

Global stocks faltered and oil prices fell below $72 a barrel on Friday as waning risk appetite lifted the U.S. dollar against most major currencies.

President Mahmoud Ahmadinejad called the Holocaust a lie Friday, raising the stakes against Israel just as world powers try to decide how to deal with the nuclear ambitions of an Iran in political turmoil.

This year's Toronto film festival lowers its final curtain this weekend after 10 days of red carpet premieres and industry networking that produced few movie deals but showcased some good bets for Oscars.

Robert Maday, a dangerous Illinois convict who escaped on Thursday was captured in West Chicago Friday noon after he crashed when trying to escape police in a Volkswagen Jetta he hijacked.

The global economy should recover from recession in the first half of 2010, but it will take time for unemployment levels to decline, International Monetary Fund Managing Director Dominique Strauss-Kahn said.

The world economic downturn has passed its low point, with financial markets rebounding, Morgan Stanley CEO John Mack said on Friday.

Christie's will offer for sale what it calls a Rembrandt masterpiece in December, and expects to fetch up to 25 million pounds ($41 million) in what would be an auction record for the artist.

Half a million people are expected to fill Havana's Revolution Square Sunday for a concert that is supposed to be about peace, but has become another front in the war of words between Havana and the Cuban exile community in Miami.

The Minneapolis Star-Tribune is poised to exit bankruptcy by the end of September after a federal bankruptcy judge approved a reorganization plan that gives ownership of Minnesota's largest newspaper to its senior lenders.

Taiwan's second-largest city is reconsidering plans to show a film about Uighur leader Rebiya Kadeer over concerns it would upset China just weeks after the Dalai Lama's visit to the island, officials said on Friday.

United Technologies Corp on Friday said it would immediately modify the first stage fan blade tips of the F135 engine it builds for the Lockheed Martin Corp F-35 fighter jet.

Aircraft leasing company AerCap Holdings said on Friday it would buy rival Genesis Lease Ltd for about $302.6 million in stock, giving it greater scale and access to more funds for aircraft purchases.

Robert Maday, an extremely armed and dangerous convict who escaped as he was transported to a hearing on a criminal case, was captured on Friday around noon after getting into a crash in Rolling Meadows, Ill, ABC7.com reported.

U.S. stocks rose on Friday as a brokerage upgrade of Procter & Gamble lifted shares of consumer staples companies, putting the market on track for a second week of gains.

Visteon Corp has sought U.S. Bankruptcy Court permission to drop contracts to supply auto interiors, fuel tanks, climate controls and lighting components to General Motors Co under a deal with the automaker that would give it more than $22 million.

With more requests than money, the U.S. Department of Energy faces the tough task of allocating more than $4 billion among hundreds of utilities that want to modernize the country's aging electricity grid.

A 19.6 million euro fine for price fixing has forced Slovakia's Novacke Chemicke Zavody (NCHZ) to file for protection from its creditors, the company said on Friday.

The number of rigs drilling for natural gas in the United States climbed six this week to 705, according to a report on Friday by oil services firm Baker Hughes in Houston.

Kohlberg Kravis Roberts & Co's KKR.UL investment in troubled photography company Eastman Kodak Co may look risky but a 10 percent annual return and protections even if the company fails could make it all worthwhile.

The Bonobos pants featured on the Men's Fashion Fall 2009 issue of the New York Times are getting buzz.

UBS AG has formally warned wealthy American clients that secret Swiss accounts may be revealed to U.S. tax authorities after the Wednesday expiration of an amnesty program that could give them immunity from prosecution.

Google Inc said Apple Inc rejected its Google Voice application for the popular iPhone, contradicting Apple's statement to regulators last month.

Arena Pharmaceuticals Inc's obesity drug produced mixed results in a second late-stage trial, sending the company's shares on a roller coaster in furious trading on Friday.

Independent News & Media is likely to close its flagship London title The Independent by Christmas, the publishing group's second biggest shareholder Denis O'Brien said on Friday.