IBT Staff Reporter

The U.S. House of Representatives is poised to vote on Friday on one of the most significant environmental bills in history -- a sprawling measure that aims to wean industry off of carbon-emitting fuels blamed for global warming.

South Carolina Governor Mark Sanford, facing pressure to resign over an extramarital affair, said on Thursday he would repay state funds he used for an official trip to Argentina during which he met his mistress.

A hardline Iranian cleric on Friday called for the execution of rioters, in a sign of the authorities' determination to stamp out opposition to the June 12 presidential election result.

Iran's top legislative body said on Friday it had found no major violations in the June 12 presidential election and called it the healthiest vote since the 1979 Islamic Revolution.

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.

Swiss bank UBS unveiled plans to raise 3.8 billion Swiss francs ($3.5 billion) in a share sale and forecast a second-quarter loss, sending its stock lower on Friday as analysts said problems remained.

Oil rose above $71 a barrel on Friday after Nigerian rebels said they blew up a wellhead in a Royal Dutch Shell oilfield and as equity markets rallied on optimism the global recession was easing.

UBS , the world's largest wealth manager, said simple market opportunity was behind its decision to seek about 3.8 billion Swiss francs ($3.46 billion) of new capital in a share offer.

Oil rose to $71 a barrel on Friday after Nigerian rebels said they blew up a wellhead in a Royal Dutch Shell oilfield in the Delta state and as equity markets rallied on optimism the recession was easing.

Dealmakers saw business pick up again in the second quarter as they helped companies raise cash in capital markets, but lucrative mergers and acquisitions (M&A) languished.

UBS, the world's largest wealth manager, said its decision to sell stock was to take advantage of a window of opportunity that should allow it to raise about 3.8 billion Swiss francs ($3.46 billion).

Oil climbed toward $71 a barrel on Friday, extending a 2 percent gain the day before, after rebel attacks on Nigerian oil facilities disrupted supply and equity markets rallied on optimism the global recession was ebbing.

Palm Inc posted a narrower-than-expected fiscal fourth quarter loss on Thursday, and highlighted strong demand for its just-unveiled Pre smartphone.

Oil surged above $70 a barrel on Friday, extending a 2 percent gain the day before, after rebel attacks on Nigerian oil facilities disrupted supply and equity markets rallied on optimism the global recession was ebbing.

Communist Cuba may boast a doctor on every block and schools for all its children, but when it comes to telephones, computers and the Internet it lags behind other countries in the hemisphere, a government report showed on Thursday.

The United States still hopes it can persuade China to abandon, or at least delay, its plan to require controversial filtering software on new computers, despite growing trade friction over the issue, a U.S. trade official said on Thursday.

Michael Jackson, whose passionate fans launched the singer into superstardom, died at the age of 50 on Wednesday in Los Angeles after suffering a cardiac arrest, according to media reports.

On Thursday, Google began issuing invitations for Google Voice to those who have expressed interest. Google Voice is built with technology obtained through its 2007 acquisition of Internet telephony company GrandCentral.

The music genius Michael Jackson has died on Thursday afternoon at UCLA Medical Center in Los Angeles.

(Corrects ninth paragraph and bullet point to show Palm is saying it could turn cash-flow positive, not expects to)

China on Thursday stepped up accusations that Google is spreading obscene content over the Internet, a day after U.S. officials urged Beijing to abandon plans for controversial filtering software on new computers.

Micron Technology Inc reported lower-than-expected revenues as part of its 10th straight quarterly loss and shares of the top U.S. maker of memory chips slid more than 4 percent.

YouTube on Thursday said that with the introduction of the new iPhone, mobile uploads to its site have shot up 400 percent.

Stocks rallied on Thursday as investors were relieved Fed Chairman Ben Bernanke withstood a barrage of pointed questions from Congress on the Bank of America-Merrill Lynch deal relatively unscathed.

Iran's leadership has quelled mass protests over a disputed presidential poll two weeks ago, but the battle has moved off the street into a behind-the-scenes struggle splitting the clerical establishment into two camps.

Time for investigators to recover the black boxes of crashed jet flight Air France 447 is running out as they will continue to emit signals for approximately another six days.

Accused swindler Allen Stanford will spend at least one more night in a Texas jail after a U.S. judge stayed her decision to grant a $500,000 bond because the U.S. government plans to appeal.

Iran's disputed President Mahmoud Ahmadinejad will be sworn in for a second four-year term before parliament between July 26 and August 19, the Islamic Republic News Agency (IRNA)reported on its website.

Hong Kong is committed to maintaining its enduring business advantages to provide a familiar and secure base for companies, the Chief Executive Donald Tsang said on Thursday.