IBT Staff Reporter

Bank of America Inc. posted better than expected second quarter earnings of $3.2 billion on Friday. The bank's CEO, Kenneth Lewis, admitted it will be much tougher to make money in the second half of 2009 after the bank's current profits relied on one-time gains. Lewis anticipates more loan losses as the unemployment rate continues to rise.

U.S. stocks closed out their best week in four months on Friday on a flat note as strong earnings from IBM softened the blow of disappointing results from General Electric Co .

Expectations are high for Apple Inc's quarterly results next week, in the wake of strong early sales for its new iPhone and improved sentiment on the personal computer market after Intel Corp's earnings.

Verizon Wireless is dialing back on its exclusivity agreements with handset makers after pressure from U.S. lawmakers and smaller carriers.

President Barack Obama's far-reaching plan to guarantee all Americans healthcare coverage faced trouble on Friday over its more than $1 trillion price tag, so Democrats looked for ways to reduce healthcare costs as they moved the bill forward.

US Defence Secretary Robert Gates said on Thursday that North Korea's famine has reduced the threat posed by its armed forces.

Wall Street, where hundreds of commodity traders lost jobs last year as the recession set in, is on a new hiring phase where banks and hedge funds want to pay top dollar but only to a few, highly productive people.

The World Health Organization issued the following guidelines on Saturday about ways to prevent and fight flu, especially in poor areas where medical facilities may lack staff, beds and drugs:

U.S. administration officials Commerce Secretary Gary Locke and Energy Secretary Steven Chu concluded a four-day trip to China.

Goldman Sachs Group Inc has quietly reached an agreement to end a legal dispute with a blogger who will be allowed to keep running a website critical of the investment bank.

U.S. stocks closed out their best week in four months on Friday on a flat note as strong earnings from IBM softened the blow of disappointing results from General Electric Co .

The Los Angeles County coroner's office said the release of Michael Jackson's autopsy results will take at least another two weeks to be released.

European Union antitrust authorities cleared U.S. drugmaker Pfizer's $68 billion takeover of rival Wyeth on Friday subject to conditions, notably the divestment of animal vaccines.

U.S. stocks ended mixed on Friday, with the Dow and Nasdaq up and the S&P 500 down. Upbeat earnings results from IBM offset disappointing numbers from General Electric Co .

A U.S. court decided on Friday against tinkering with regulations governing telephone lines largely controlled by AT&T Inc and Verizon Communications Inc .

President Barack Obama had a tough-love message for fellow African-Americans on Thursday, urging black parents to push their children to think beyond dreams of being sports stars or rap music performers.

Verizon Wireless is dialing back on its exclusivity agreements with handset makers after pressure from U.S. lawmakers and smaller carriers.

The Jakarta hotel bombings confront security experts with an increasingly familiar dilemma: How do you give fortress-like protection to businesses whose very existence depends on the gentle art of welcoming people?

Oil prices rose 2.5 percent on Friday, staging their first weekly gain in a month, after U.S. housing data sparked optimism that a battered sector of the economy may be primed for recovery.

U.S. Secretary of State Hillary Clinton on Thursday rejected suggestions she had been sidelined by President Barack Obama, her rival for last year's Democratic presidential nomination.

Britain should maintain its current troops levels in Afghanistan and may need to deploy more soldiers for up to 18 months until the Afghan army can take on greater responsibility, the head of the army said on Friday.

Pope Benedict underwent minor surgery Friday after the 82-year-old Roman Catholic leader slipped in the bath and broke his right wrist while on holiday in northern Italy.

Three of Michael Jackson's will perform at the Reggae Sumfest in Jamaica which is dedicated this year to the deceased king of pop.

Citigroup Inc on Friday said loan losses surged again in the second quarter, yet gains from selling most of its Smith Barney brokerage helped the company report the highest profit among big U.S. banks.

Bank of America Corp, the largest U.S. bank, posted a quarterly profit that topped Wall Street forecasts but warned of a fresh surge in soured loans to credit card, mortgage and business customers.

Yes, it is possible to ski in Oceania! During the winter you can hit the slopes located in one of Australia's and New Zealand's ski resorts. Here are some great places for snow sports:

Paul McCartney, former member of the Beatles, begins a series of shows across the United States today in New York City's Citi Field.

With only 160 shopping days left, it's beginning to look a lot like Christmas in some stores.

Stocks were little changed on Friday, as stronger quarterly earnings from IBM Corp offset disappointing results from bellwether companies like General Electric Co and Bank of America Corp .