IBT Staff Reporter

Stocks rose on Friday, capping the S&P 500's longest weekly winning streak since 2007, helped by a reassuring report on the mood of consumers and stabilization in General Electric and Citigroup's quarterly results.

Ashton Kutcher has gone to beat CNN in gaining 1 million followers on the popular micro-blogging site, Twitter, in a battle between TV and Web media.

Mobile phone maker Sony Ericsson said on Friday it plans to cut one in five jobs this year in its battle to return to profit as a sluggish market brought a hefty first-quarter loss, as expected.

The United Nations’ anti-racism conference will open on May 20 at Geneva, its European headquarters. Concerns rise that it might spark high tension and fall into clashes once again.

Citigroup reported better-than-expected results as an accounting benefit for distressed companies, cost-cutting and improved trading results helped offset red ink from consumer lending and credit cards.

Two influential investor advisory groups sharply rebuked Bank of America Corp Chief Executive Kenneth Lewis over his handling of the buyout of ailing Merrill Lynch & Co, recommending he be thrown off the bank's board at its upcoming annual meeting.

Leading Democratic senators and three of the largest U.S. banks are narrowing the scope of legislation that could let troubled homeowners avoid foreclosure through bankruptcy courts, several sources familiar with the negotiations said.

Stocks rose on Friday, capping the S&P 500's longest weekly winning streak since 2007, helped by a reassuring report on the mood of consumers and stabilization in General Electric and Citigroup's quarterly results.

Canadian police, acting on a tip-off from the United States, charged a Toronto man on Friday with trying to illegally export nuclear technology to Iran.

Human rights groups said on Friday the United States and the European Union should take part in next week's U.N. conference on racism now that diplomats have removed the most contentious sections of the conference declaration.

The founder of Thailand's yellow shirt political protest movement, which was behind the week-long occupation of Bangkok's main airports late last year, was shot and wounded early on Friday by unknown assailants.

The Obama administration opened the way to regulating U.S. greenhouse gas emissions on Friday by declaring climate-warming pollution a danger to human health and welfare, in a sharp policy shift from the Bush administration.

Farm ministers of the Group of Eight meeting in Italy this weekend aim to forge a strategy to secure food supplies and stabilize prices, as rich nations scramble for acreage abroad to feed their people.

Diplomats reached agreement on Friday on a declaration for next week's politically charged United Nations conference on racism, adding to the pressure on Washington and Brussels to decide whether to attend.

Stocks rose on Friday, capping the longest weekly winning streak since 2007, helped by a reassuring report on the mood of consumers and stabilization in General Electric and Citigroup's quarterly results.

Leaders from across the Americas gathered on Friday for a summit overshadowed by an intense debate over a possible reconciliation between the United States and Cuba and how this could be achieved.

Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. recession had done lasting harm to household finances and that regulators must protect consumers from willfully confusing forms of credit.

On Tuesday U.S. Treasury Secretary Timothy Geithner will be questioned over his handling of the program and how he plans his plans to remove problem assets from bank balance sheets.

General Motors Corp Chief Executive Fritz Henderson said on Friday the automaker was readying detailed plans for a bankruptcy filing that now appears more likely even as it races to complete a business plan under federal oversight.

Verizon CEO Ivan Seidenberg said the chances of an iPhone on his network will be greater once a 4G cellular network is in place, according to the Wall Street Journal.

Stocks rose on Friday, with sentiment boosted by fresh signs of economic stability and investors bet more strong results are in the offing after reassuring reports from General Electric and Citigroup .

The International Monetary Fund (IMF) will release a new $2.8 billion loan to Ukraine to help the country weather the economic crisis., official said on Friday.

General Electric Co reported a better-than-expected quarterly profit as strength at its energy equipment business offset falling earnings at its hefty finance arm and the NBC Universal media affiliate.

Stocks rose on Friday, putting the benchmark S&P 500 on course for a sixth straight weekly gain, as an upbeat consumer survey added to hopes of economic stabilization and investors bet on strong results ahead following reports of General Electric and Citigroup.

Two influential investor advisory groups sharply rebuked Bank of America Corp Chief Executive Kenneth Lewis over his handling of the buyout of ailing Merrill Lynch & Co, recommending he be stripped of his role of chairman at the bank's upcoming annual meeting.

Stocks rose on Friday as an upbeat consumer survey fueled hopes that the U.S. economic slump may be moderating and investors bet on strong results ahead following reassuring reports from General Electric and Citigroup .

Citigroup Inc reported a smaller-than-expected first-quarter loss for shareholders as cost-cutting and improved results in investment banking and trading helped to offset red ink from consumer lending and credit cards.

General Electric Co said Friday its quarterly profit fell 36 percent; however, shares rose on analyst rates despite wobbly and high demand in loan in the economic environment.

The Dow Jones industrial average and the S&P 500 climbed to session highs on Friday, with investors encouraged by a consumer survey that added to hopes that the U.S. economy may be stabilizing and fueled expectations for more upbeat first-quarter corporate results.