IBT Staff Reporter

Samantha Kielar is scrambling to find a house in Colorado before the doors slam shut on an $8,000 first-time buyer's tax credit she needs for her downpayment or home repairs.

Volkswagen on Thursday agreed to buy a 42 percent stake in the sports car unit of debt-ridden Porsche SE , another step toward combining the two German carmakers into a European automotive giant.

Apple Inc's board plans to meet next Tuesday and discuss potential replacements for Google Inc Chief Executive Eric Schmidt, who stepped down from the board earlier this month, the Wall Street Journal reported on Thursday, citing a person familiar with the matter.

General Motors' top negotiator for the sale of its European business took issue on Friday with assertions that Opel suitor Magna had struck a deal in principle on a contract for the deal.

CIT Group Inc , the cash-strapped corporate lender struggling to avoid bankruptcy, made an out-of-court settlement with apparel maker Scherr Inc that sued to end its relationship with the company, the New York Post said.

Stock index futures pointed to a mixed start on Wall Street on Friday ahead of U.S. CPI figures and earnings news from Abercrombie & Fitch and JC Penney .

World stocks hit 10-month highs for a second day running on Friday after euro zone growth data in the previous session and positive earnings from the world's largest retailer also boosted sentiment.

The federal government in Berlin and the states where Opel has plants are only prepared to offer financing aid if Canada's Magna wins the battle for the carmaker, a senior ally of German Chancellor Angela Merkel said.

Japanese stocks ended at a 10-month high on Friday after upbeat eurozone growth data and positive earnings from the world's largest retailer helped offset gloomy U.S. retail and jobs data, factors which pulled down the dollar.

150 American clients of UBS are likely to face criminal charges related to tax evasion in the United States, the New York Times reported, citing a person briefed on the matter.

The deadline for online applications for the first round of the U.S. government's $7.2 billion program to provide broadband access to all Americans was extended to August 20 from August 14 because of technical problems caused by the high number of applicants.

150 American clients of UBS are likely to face criminal charges related to tax evasion in the United States, the New York Times reported, citing a person briefed on the matter.

Microsoft Corp and Nokia announced an alliance on Wednesday to bring business software to smartphones and counter the dominance of Research in Motion Ltd's BlackBerry.

One in four U.S. homes for sale on August 1 had their prices marked down at least once since landing on the market, data compiled by real estate website Trulia.com showed on Friday.

Japan's Nikkei share average rose to a 10-month high on Friday after upbeat eurozone growth data and positive earnings from the world's largest retailer helped offset gloomy U.S. retail and jobs data, factors which brought down the dollar.

Bank of America Corp , the largest U.S. bank, said on Thursday it is dropping a requirement that forces consumers with disputes on credit cards and other accounts into an arbitration process, which critics say favors card issuers.

The U.S. government is testing new technology in China and Iran to evade web screening protocols of restrictive regimes, a top technology official told Reuters.

Who is the Pay Czar?; IOUs to End; Top Paid Exec

The deadline for online applications for the first round of the U.S. government's $7.2 billion program to provide broadband access to all Americans was extended to August 20 from August 14 because of technical problems caused by the high number of applicants.

Department store operator Kohl's Corp gave a weak outlook for the rest of 2009 due to higher costs from new store openings, but upscale retailer Nordstrom Inc raised its profit view for the year and said recent sales trends were encouraging.

Taking his private equity firm public paid off big for Blackstone Group LP's Stephen Schwarzman, who became the top-paid chief executive in the United States last year, a title he is likely to retain for some time, according to an analysis released on Thursday.

Taking his private equity firm public paid off big for Blackstone Group LP's Stephen Schwarzman, who became the top-paid chief executive in the United States last year, a title he is likely to retain for some time, according to an analysis released on Thursday.

The science fiction film District 9 produced by The Lord of the Rings' Peter Jackson has been well reviewed as an intense well crafted and original film.

U.S. video game equipment and software sales fell 29 percent in July to $848.9 million, research group NPD said on Thursday, as the gaming industry limps through the economic downturn.

District 9, a movie filmed in a faux-documentary style, is one part South Africa apartheid history lesson and one part X-Files.

Nordstrom Inc posted a steep decline in quarterly profit on Thursday that nevertheless met Wall Street's expectations, as the upscale department store chain controlled inventory and expenses to offset languishing sales.

The Television Academy and broadcaster CBS on Wednesday reversed a plan to drop live presentations in some categories during the September 20 Emmy awards ceremony after a backlash within the industry.

The U.S. Department of Energy and the Department of Treasury announced on Thursday they will deploy $2.3 billion in tax credits from stimulus money for manufacturers of clean energy equipment.

Heavyweight boxer Mike Tyson says he still has no idea how to handle the accidental death in May of his 4 year-old daughter, calling it a