IBT Staff Reporter

The U.S. government will soon send states $780 million for the recently enacted stimulus plan's energy efficiency component, Vice President Joe Biden said on Thursday.

China's campaign to bring cleaner, low-emission vehicles to its roads may take a back seat as the government seeks first to stimulate growth and counter dwindling sales in the world's largest car market.

U.S. biofuel producers said the EU's anti-dumping tariffs will kill their exports of the alternative motor fuel into Europe and force them to seek domestic and other global customers.

Toyota Motor Corp plans to develop a new low-price hybrid car aimed at undercutting rival Honda Motor Co's Insight, the Nikkei business daily reported on Friday.

Warren Buffett was awarded compensation of $491,000 in 2008 for running Berkshire Hathaway Inc , which just lost its AAA credit rating from Fitch Ratings because of potential losses from derivatives.

Workers at a Sony plant in southwestern France detained the chief executive of the Japanese group's French arm overnight to demand better layoff terms when their factory closes in April.

American Axle & Manufacturing Holdings Inc's auditors have said the auto supplier may go out of business because of pressure on its main customers, General Motors and Chrysler , the company said on Friday.

The U.S. trade deficit narrowed 9.7 percent in January to its smallest since October 2002, as both imports and exports tumbled for the sixth consecutive month in the face of shrinking global demand, a U.S. government report showed on Friday.

Citigroup Inc Chairman Richard Parsons said on Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands.

Federal Deposit Insurance Corp officials advised the largest U.S. banks on March 9 that they may be charged more for the agency's debt guarantees, Bloomberg said, citing people familiar with the matter.

Bank of America Corp investor Jerry Finger is calling on other shareholders to vote to replace Chief Executive Kenneth Lewis as chairman of the board, The Wall Street Journal reported on Friday.

Oil rose above $48 a barrel on Friday ahead of OPEC's Sunday meeting in Vienna, after two volatile days of trade this week.

Stock index futures pointed to a fourth straight day of gains on Friday after Citigroup said it did not need any more government capital infusions, bolstering investor optimism that banks might be seeing some stabilization.

Oil edged down below $47 a barrel on Friday ahead of OPEC's meeting this weekend which pushed prices up by more than 11 percent in the previous session, helped by better-than-expected economic data.

Switzerland, Austria and Luxembourg offered concessions on Friday in a bid fend off a global crackdown on tax evasion but insisted their bank secrecy principles remains intact.

Activist investor Carl Icahn said he has no plans to push for a sale of Lions Gate Entertainment Inc in the current environment, but criticized the Hollywood studio's expenses for being too high and called its purchase of TV Guide reckless.

American Axle & Manufacturing Holdings Inc's auditors have said the auto supplier may go out of business because of pressure on its main customers, General Motors and Chrysler .

About eight potential bidders have registered with Satyam Computer Services to buy a 51 percent stake in the fraud-hit Indian outsourcer, two investment banking sources said on Friday.

Workers at a Sony plant in southwestern France detained the chief executive of the Japanese group's French arm overnight to demand better layoff terms when their factory shuts down in April.

Bank of America Corp is seeking to produce more jumbo mortgages, which can range from $417,000 in most areas to as much as $729,750, Barbara Desoer, the bank's head of mortgage, home equity and insurance services told Bloomberg in an interview.

The global restaurant industry is projected to expand on a long-term basis due to continued population growth, higher per-capita incomes, and ongoing demand for dining out, Robert W. Baird & Co said.

Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are up 0.3-0.6 percent, pointing to a higher start on Wall Street on Friday.

Warren Buffett's Berkshire Hathaway was stripped of its 'AAA' credit rating by Fitch, barely hours after S&P cut General Electric Co's top-tier rating, as the global financial crisis pummels America's corporate titans.

SINGAPORE - Warren Buffett's Berkshire Hathaway was stripped of its 'AAA' credit rating, barely hours after General Electric Co lost its top-tier rating, as the global financial crisis pummels America's corporate titans.

Warren Buffett's Berkshire Hathaway was stripped of its 'AAA' credit rating, barely hours after General Electric Co lost its top-tier rating, as the global financial crisis pummels America's corporate titans.

World stocks were on track on Friday for one of their largest weekly gains in 20 years, propelled by growing confidence in the recovery of the U.S. banking system.

Bernard Madoff, who cultivated a worldwide mystique as he churned out amazingly steady returns for his investors year after year, finally admitted it was all a lie, saying he had felt compelled to deliver at any cost.

Warren Buffett said he was approached twice to help American International Group Inc in the final days before the U.S. government rescued the insurer last September, Bloomberg said.

Scientists have developed a polyurethane coating that heals its own scratches when exposed to sunlight, offering the promise of scratch-free cars and other products, researchers said on Thursday.