IBT Staff Reporter

Michael Jackson's sudden death could prove a major blow to AEG Live, promoter of his eagerly awaited run of 50 London concerts, as well as to fans who paid well over the odds to get hold of coveted tickets.

One day after Michael Jackson's sudden death, speculation was already turning on Friday to what killed the 50-year-old King of Pop just weeks before his long-awaited series of comeback concerts.

General Electric Co Chief Executive Jeff Immelt said on Friday the United States needs to refocus its economy on manufacturing and exporting if it wishes to recover from a brutal recession.

From a celebrity party to ordinary people on the street, the moment the news of Michael Jackson's death came was described as as groans, some falling on their knews and an immediate need to spread the news.

AIG's American Life Insurance Company will restructure its western European businesses in order to generate cost savings, according to an internal document obtained by Reuters.

A U.S. recovery is likely to begin this autumn, the worst of the crisis has passed and it is reasonable to be optimistic for 2010, internet search giant Google's chief executive Eric Schmidt said on Friday.

Following the tragic death of Michael Jackson on Thursday after suffering cardiac arrest, Jackson's biographer and family friend said a custody battle for his three children began between Michael's mother and the children's nanny, according to reports.

Allen Stanford, who faces criminal charges related to a massive Ponzi scheme, was back in a Texas courthouse on Friday waiting to find out whether he can be released on $500,000 bail as the government fights for continued detention of the accused swindler.

A bidder has offered to pay $456,789 for a steak lunch with billionaire investor Warren Buffett, in a charity auction expected to be completed Friday night on eBay Inc's website.

Kenneth Lewis, Bank of America's embattled chief executive, retained the backing of a top lieutenant on Friday, when investment bank and wealth management chief Brian Moynihan called him the right person to lead the nation's largest bank.

Boeing Co , the world's No.2 plane-maker, suffered another heavy blow to its Dreamliner project on Friday when a major customer, Australia's Qantas Airways , scrapped and deferred orders for 30 new planes.

The Dow and the S&P 500 fell on Friday as a jump in the savings rate raised worries the economic recovery will not make much headway if consumers stay frugal, and a slide in crude futures prompted investors to sell some energy shares.

Kenneth Lewis, Bank of America's embattled chief executive, retained the backing of a top lieutenant on Friday, when investment bank and wealth management chief Brian Moynihan called him the right person to lead the nation's largest bank.

Michael Jackson’s older brother, Jermaine, spoke on Thursday evening to the press about the sudden death of the King of pop.

IBM accused its former mergers and acquisitions chief of misusing resources, as part of a lawsuit that seeks to remove him from his new job at rival Dell Inc.

U.S. consumer spending in May rose for the first time since February as government stimulus measures boosted income, while a consumer sentiment index in June edged higher, bolstering the view that the economy was close to emerging from recession.

U.S. consumer spending in May rose for the first time since February as government stimulus measures boosted income, while a consumer sentiment index in June edged higher, bolstering the view that the economy was close to emerging from recession.

Daimler is not interested in buying a stake in financially troubled automotive holding Porsche SE, Daimler Chief Executive Dieter Zetsche told German weekly newspaper Welt am Sonntag.

The U.S. House of Representatives could pass a major climate bill called the American Clean Energy and Security Act on Friday afternoon, a measure that will boost the development of clean energy sources in the country and increase commitment from the United States in the fight against global warming.

Slumping demand drove Tata Motors into its first annual loss in eight years and India's top vehicle maker warned of more job cuts and plant shutdowns at the loss-making Jaguar and Land Rover unit.

U.S. stocks faltered on Friday as weak oil futures pressured energy shares and a jump in the savings rate raised worries the economic recovery will not make much headway if consumers continue to be frugal.

Wall Street looked set for a weak open on Friday with investors ready to take profits after stocks gained more than 2 percent in the previous session.

Opportunistic property investor NewRiver Retail has suspended plans for a 250 million pound ($406.3 million) listing on London's Alternative Investment Market stock exchange, a company spokeswoman told Reuters.

Canadian grain-handling company Viterra Inc said it will raise C$300 million ($261.5 million) through a senior-note offering and plans to use the proceeds for general corporate purposes, that could include acquisitions.

The new bosses at Sanofi-Aventis and GlaxoSmithKline are playing a cautious acquisition game, 13 and seven months respectively after taking control of the two big European drugmakers.

Canada's Emera Inc said it agreed to buy Irving Oil's interests in Bayside Power LP, located in New Brunswick, to complement its operations in the region.

The king of pop died on Thursday in a Los Angeles hospital after suffering a cardiac arrest, his death has dominated world headlines as everyone pours out their tributes to the deceased singer.

Possible plans by Volkswagen to cooperate with Suzuki Motor raised an enthusiastic response among investors on Friday, but traders said the main focus at VW remained firmly on Qatar.

UBS has moved closer toward ending state involvement in the bank after it raised $3.5 billion of new capital, but must still settle U.S. legal problems and stem client withdrawals to return to health.