IBT Staff Reporter

Microsoft's Bing.com search engine surpassed Yahoo to become the number two search on Thursday, one spot behind Google.

U.S. regulators on Thursday listed two dozen drugs, including weight-loss medicines and sleep disorder pills, that it is at an early stage of reviewing for potential safety problems.

American International Group Inc has picked a group that includes private equity firms Onex Corp and Greenbriar Equity Group as the preferred bidder for its aircraft leasing unit, a source familiar with the situation said on Friday.

Merck & Co Inc, in the latest disappointment for its roster of experimental drugs, said on Friday its high-profile drug meant to treat heart failure missed goals of a pivotal late-stage study.

Norilsk Nickel returned to profit in the first half of 2009 after its first ever loss last year, and the world's largest nickel miner is looking to acquire a core asset in Russia, its CEO said.

Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive Vikram Pandit, the Wall Street Journal reported.

Many Internet and media companies that were busy buying start-ups in the boom years could shed assets they no longer deem central to their business, as the recession imposes an age of frugality.

Yahoo is adding a number of third-party apps and widgets to several of its properties, including the popular Yahoo Mail and My Yahoo services in a bid to increase the appeal of its Website by opening it up to other applications.

Signs emerged on Friday that Canada's Magna could face challenges to its deal for GM's European unit Opel as Fiat SpA said it was still interested and Germany invited rival bidders to improve their offers.

The Dow industrials climbed on Friday after Wal-Mart unveiled plans for a stock buyback, while the broad market's gains were muted after government data showed employers cut sharply fewer jobs than expected in May and the jobless rate hit a 26-year high.

Lower-than-expected U.S. job losses in May are an encouraging sign, but the U.S. economy still has a long way to go before it is out of recession, Vice President Joe Biden said on Friday.

Utility firm Pacific Gas and Electric Company announced Friday it made a deal for 230 megawatts of solar photovoltaic power with a subsidiary of NextLight Renewable Power.

Penske Automotive Group, Inc – a U.S. auto retailer and franchiser - has reached a preliminary agreement to obtain the Saturn auto brand from bankrupt automaker General Motors Corp, the companies said Friday. Financial details were not disclosed.

Oil slipped back after touching a seven-month high over $70 per barrel on Friday as U.S. employment data showed a slower pace of job losses.

U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was the most definitive evidence the economy's severe weakness was diminishing.

Wal-Mart Stores Inc's announced a new $15 billion share repurchase plan on Friday and said market share gains it has made amid the recession are permanent as a new normal emerges in which consumers seek to save money.

General Motors Corp has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday.

A bomb blast killed around 40 worshippers attending Friday prayers at a mosque in a restive area of northwest Pakistan, a senior official in the area told Reuters.

The Dalai Lama on Friday made light of sharp criticism against the Dutch prime minister for declining to meet him during a three-day visit to the Netherlands, telling politicians it was of no concern to him.

World stocks extended gains on Friday, rising toward this week's 7-1/2 month high after better-than-expected U.S. employment data reinforced investors' hopes that the world's biggest economy has passed its worst.

Russian President Dmitry Medvedev, opening the country's top business forum, said on Friday the global economy had avoided the worst but warned participants it was too early to celebrate recovery.

Judges in the trial of Myanmar opposition leader Aung San Suu Kyi on Friday delayed her final hearing until the end of next week and postponed ruling on whether to allow three barred defense witnesses to testify.

General Motors Corp has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday.

Airbus has warned airline crews to follow standard procedures if they suspect speed indicators are faulty, suggesting that technical malfunction may have played a role in this week's Air France crash.

Steve Jobs is on track to return to the helm of Apple this month after nearly six months of medical leave, according a report in The Wall Street Journal that cited unnamed sources.

U.S. stocks rose in choppy trading on Friday as investors grappled with conflicting monthly jobs data, with the Dow industrials boosted after Wal-Mart said it was buying back more of its shares.

Nonfarm employment fell 345,000 with smaller declines in many sectors. Smaller job losses are consistent with our expectations for growth in the second half of this year. Aggregate hours declined again reaffirming negative economic growth forecasts for the second quarter. Unemployment rates indicate more household credit stress.

Wal-Mart Stores Inc.’s board of directors has approved a new $15 billion share repurchase program, the firm announced Friday.

India’s Kaspersky Lab on Thursday said its 2009 all-in one Kaspersky Internet Security is now available for download and purchase.