IBT Staff Reporter

Toyota Motor Corp said on Friday it lost $6.9 billion in the final quarter and forecast increasing losses this financial year as sales continue to tumble, keeping dozens of its factories underused.

The worldwide hit video game Guitar Hero could become a reality TV show and/or a real-life concert tour, people familiar with the discussions said Thursday.

Toyota Motor Corp, the world's top automaker, is likely to forecast a bigger operating loss of 700 billion yen ($7 billion) this financial year as global car demand stays weak, the Nikkei business daily reported on Friday.

The Federal Reserve of the United States released the results of the assessment the top US banks and their financial conditions.

Asian shares edged lower ahead of U.S. monthly employment data due on Friday that will provide another step in determining whether the recent signs of an improving global economy are real or just wishful thinking.

President Barack Obama's administration has decided it wants to terminate the Yucca Mountain nuclear waste storage facility project officially.

American Express Co. has formally asked regulators to allow it to pay back preferred shares it issued to the government after a federal stress test showed the firm does not need additional capital.

Goldman Sachs Group Inc , Morgan Stanley , JPMorgan Chase & Co and several other big U.S. banks said they were in a position to quickly repay Treasury capital injections after regulators released bank stress test results.

CBS Corp, which runs the highest rated U.S. television network, reported a net loss of $55.3 million during the first quarter on sales of $3.16 billion, citing a decline in ad sales amid the current economic downturn. Last year CBS earned $244.3 million.

New York Federal Reserve Chairman Stephen Friedman resigned on Thursday in the wake of conflict of interest accusations, defending his purchases of Goldman Sachs Group, Inc shares last year.

The oil and gas industry is opposing President Barack Obama's proposal to Congress to cut tax breaks for the industry saying it will cripple small businesses and punish American natural gas production.

The first commercial scale plant for lithium-ion auto batteries in the U.S. will be commissioned in a ceremony on Friday in Indianapolis, Indiana.

U.S. regulators told top banks on Thursday to raise $74.6 billion to build a capital cushion officials hope will restore faith in financial firms and set a course out of the deepest recession in decades.

American Express Co asked on Thursday for permission to repay the $3.4 billion in TARP funds it received, after the U.S. government stress test showed the credit card firm is well capitalized.

Bank of America Corp , ordered by the government to find $33.9 billion of capital, said on Thursday it planned to sell assets and issue more common stock to cover the shortfall.

American International Group , the giant insurer bailed out by the U.S. government, reported its smallest loss in six quarters on Thursday, hurt once more by investment losses and write downs.

Stephen Friedman, chairman of the New York Federal Reserve Bank's board of directors, resigned on Thursday amid questions about his purchases of stock in his former firm, Goldman Sachs.

AMG Data Services just announced that US junk bond funds saw an $822 million inflow this past week, a doubling of the $435 million inflow from a week earlier. Looks like the powers that be have created a literal junk vortex and institutions are jettisoning treasuries (look at clearing 30 Yr Yield for an indication of appetite) and gobbling up the bottom of the risk pile just as hedge funds are dumping. And, of course, everyone is ignoring that 20% of these names will be bankrupt by year end, unl...

China on Thursday released its first official tally of students who died or went missing in last year's Sichuan earthquake, but denied allegations of corruption and shoddy construction by grief parents.

Google is more than a fabulously successful company -- it is a cultural phenomenon facing increasing U.S. government scrutiny despite its chief executive's campaign support for President Barack Obama.

U.S. retailers posted better- than-expected monthly sales results for a second straight month in April, giving fresh evidence that consumer spending is warming up with the spring weather.

Oprah's Chicken Giveaway has left some outlets of the Louisville-based chain literally chicken-less as they met unexpected extreme public demand.

American International Group , the insurer bailed out by the U.S. government, reported a $4.35 billion first-quarter loss on Thursday, its sixth-consecutive quarterly loss.

The Candidate: Melanie came to me as a proactive move to prepare herself for a possible layoff. Seeking an administrative position, she had developed a résumé presenting her 9 years of administrative experience, degree, and Certified Professional Secretary designation.

The World Health Organization is watching a suspected flu case in Benin which, if confirmed, would be the first on the African continent.

Oracle Corp Chief Executive Larry Ellison said he won't sell off Sun Microsystems Inc's hardware business, dispelling speculation that he only wanted the company for its software units.

Wall Street stocks slid on Thursday as investors took profits from the technology sector's recent surge, while analyst downgrades hurt telecoms and a tepid response to a government bond auction raised fears about public finances.

Federal Reserve chief Ben Bernanke said that the results of stress test results today - showing 10 banks need $75 billion in additional capital - should give comfort to investors and the public about the ability of banks to weather an even more adverse economic situation than the nation is facing.

Global leading steel maker, ArcelorMittal said on Thursday it has agreed to end its arbitration and litigation against the Czech Government and Nova Hut and Vitkovice Steel by acquiring 10.9 percent of its stake.