IBT Staff Reporter

China's U.N. ambassador, Zhang Yesui, said a U.N. resolution on North Korea passed on Friday demonstrated the firm opposition of the world to Pyongyang's nuclear ambitions and urged North Korea to end its nuclear weapons program.

Brazil’s mining giant Vale has started iron ore price talks with China, the company released on Friday, two days after it announced agreements with Korean and Japanese steelmakers.

The United States and Japan have agreed to tighten sanctions against North Korea, a senior Japanese official said after a meeting between finance ministers from the two countries on Friday.

The U.N. Security Council unanimously passed a resolution on Friday expanding sanctions on North Korea over its May 25 nuclear test, carried out in defiance of a previous resolution passed in 2006.

The Friday deadline for a nationwide transition from analog to crisper digital television transmission has U.S. retailers hoping for a boost in sales of smaller TVs as consumers upgrade secondary sets in spare rooms.

President Barack Obama has cleared the way for the U.S. Export-Import Bank to help finance exports of U.S. goods to Laos and Cambodia, the White House said on Friday.

The U.S. Department of Energy took the next step to granting $1 billion to advance the first commercial scale carbon capture and sequestration project in the country developed by the FutureGen Alliance in Mattoon, Illinois.

The new H1N1 virus, which has caused the first pandemic of the 21st century, appears to have been circulating undetected among pigs for years, researchers reported on Thursday.

Afghanistan has released its first list of protected wildlife that can no longer be hunted or harvested. 32 species are on the initial list, with conservationists hoping to list 70 species by the end of the year.

The Obama administration's top drug cop plans to spend more money on treating addiction and scale down the war on drugs rhetoric as part of an overhaul of U.S. counternarcotics strategy.

State media declared President Mahmoud Ahmadinejad the winner of Iran's election on Friday, but challenger Mirhossein Mousavi alleged irregularities and claimed victory for himself.

Chief White House Economic Adviser Lawrence Summers said on Friday that government intervention was only temporary and that the government was by no means trying to take over business.

The Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks.

The U.S. Treasury Department is facing mounting pressure to ensure that taxpayers get a fair return on banks' warrants as the largest firms prepare to shake off government ownership stakes.

The U.S. government’s agency for international trade will determine by June 18 if certain tire imports from China cause or are threatening to cause market disruption to domestic tire makers and will transmit its findings to President Obama and the U.S. trade representative the next day.

Dell Inc. said Friday that the company's promotions on popular social-networking site,Twitter, have brought in an estimated $3 million in revenue since 2007.

With the drive for U.S. financial regulation reform at a critical turning point, Barney Frank has to be asking himself by now:Where's the $6,000 shower curtain?

Technology shares pushed the Nasdaq lower on Friday after National Semiconductor's disappointing outlook, but a climb in defensive sectors like pharmaceuticals lifted the Dow industrials and S&P 500.

Opposition challenger Mirhossein Mousavi claimed victory on Friday against hardline President Mahmoud Ahmadinejad in Iran's presidential election on Friday.

President Barack Obama wants the U.S. Congress to send him a sweeping overhaul of the $2.5 trillion U.S. healthcare system by October to help put the struggling U.S. economy on a solid path of growth.

U.S. lawmakers took the final steps on Friday to pass sweeping legislation giving the U.S. Food and Drug Administration broad authority over cigarettes and other tobacco products, sending the bill to the president to be signed into law.

General Motors Corp is trying to cement an agreement with Canadian auto parts group Magna to buy its European unit, Opel, and is willing to broaden discussions if necessary, GM's chief executive said on Friday.

Oil fell on Friday, dragged from eight-month highs as the dollar firmed and players took profits from a three-day rally.

The rapid rise in bond yields will force the Federal Reserve to engage again in the purchases of U.S. Treasuries and mortgage-backed securities, Mohamed El-Erian, the chief executive of bond giant Pacific Investment Management Co., said Friday.

The effects of the recession has caused global airlines to cut capacity for eleven successive months, the month of June however is seen as the silver lining on the cloud where the capacity cut was less as airlines expect an increase in travel over the summer.

A rise in defensive sectors like pharmaceuticals pushed the Dow and S&P 500 higher on Friday, while technology shares dragged on the Nasdaq after National Semiconductor's disappointing outlook.

South Africa's National Union of Metal Workers (NUMSA) is taking the local arm of General Motors (GMSA) to court over job losses it says are linked to the parent company's financial woes, the union said on Thursday.

Chief White House economic adviser Lawrence Summers on Friday vigorously defended the administration's aid for banks and carmakers as necessary, temporary measures rather than lasting market intrusions.

Alaska Gov. Sarah Palin defended the construction of a $26 billion natural gas pipeline on Friday saying this energy resource is needed and will contribute to the U.S. economy, environment and national security.