IBT Staff Reporter

Tribune Co. sealed a deal to sell its Long Island newspaper Newsday to Cablevision Systems Corp. for $650 million, the companies said on Monday.

Virgin Mobile USA Inc and Helio LLC, companies that resell wireless services from SprintNextel Corp, are in advanced merger talks, people familiar with the situation told the Wall Street Journal.

Rupert Murdoch's News Corp. has withdrawn its bid to buy Tribune Co's Newsday newspaper, the Wall Street Journal reported on its website on Saturday, citing people familiar with the matter.

Serious mental illnesses became not only a national problem, but costs the United States an estimated $193 billion yearly in lost earnings, according to a recent study examining the consequences of mental disorders.

Technology stocks were mixed on Friday as a pair of video game related firms posted strong gains.

The dollar fell versus the euro and yen on Friday after troubles in the credit market resurfaced with investors shifting assets to commodities.

Cisco Systems Inc., the world's biggest maker of networking equipment, said its data-center chief, Jayshree Ullal will leave the company.

Merrill Lynch & Co's head of structured finance and investments Michael Blum is leaving the company as the brokerage scales back its securitization business, people familiar with the matter told Bloomberg.

From the poorest of Africa to the United States and big business, a breakneck rally that could take oil to $200 a barrel is likely to inflict pain on everyone.

Pierre Avignon is no pirate, but he does not believe in paying for software.

More aid is on the way to cyclone-ravaged Myanmar - but so is the heavy rain. A week after Cyclone Nargis flattened low-lying villages and killed whole families at a time, the military junta finally agreed Friday to allow a U.S. cargo plane to bring in food and other supplies to the isolated country. Myanmar gave the green light after confiscating other shipments, prompting the U.N. to order a temporary freeze in shipments.

Northwest Airlines Corp. said Friday it plans to raise round-trip ticket prices $20 to offset fuel prices, bringing the total surcharge on domestic fares to $65 each way.

Valero Energy Corp., the biggest U.S. refiner, fell on Friday after Goldman Sachs analysts took the company of their conviction buy list.

Activision Inc shares soared to an all-time high on Friday a day after the video game firm reported first quarter sales which far exceeded analysts' expectations.

French pharmaceutical Sanofi Aventis shares slumped near 6 percent on Friday after a generic company in Europe announced it was likely to gain approval for a generic version of Plavix in Germany and Luxembourg.

FedEx Corp. said Friday it will cut its fiscal fourth-quarter earnings forecast, citing a spike in fuel costs on soaring oil prices by at least $100 million more than estimated.

Chevron Corp. said that about 1,100 employees are eligible for severance payments at the end of the first quarter, after eliminating the positions as part of a restructuring and reorganization plan.

Copper fell on Friday near 2 percent as inventories in London and Shanghai showed large increases and investors speculate demand may be weakening.

Clear Channel Communications Inc. on Friday released earnings for the media and entertainment company's first quarter and declined to provide an outlook due to the pending buyout deal.

Liberty Media Corp. appealed a court ruling that gave the go ahead to split up IAC/InterActive Corp.

Shiite Hezbollah gunmen seized control of key parts of Beirut from Sunnis loyal to the U.S.-backed government Friday, a dramatic show-of-force certain to strengthen the Iranian-allied group's hand as it fights for dominance in Lebanon's political deadlock.

Microsoft, the world's biggest software maker, is appealing the record 899 million euro ($1.4 billion) fine imposed on it by European authorities for anti-trust violations.

Gold futures gained on Friday to close at their highest level since late April and sealed a weekly gain after crude oil surged to a record price above $126 a barrel and weakness in the U.S. dollar.

The FTSE 100 share index fell early on Friday. At 8:40am the index at fallen 38.1 points to 6,232.7 (down 0.6 per cent).

Crude oil futures soared for a fifth day above $126 a barrel on Friday as the dollar fell against the euro and other major currencies increasing demand for commodities as a hedge against inflation.

U.S. stocks fell on Friday, pushing the market to its first weekly drop in a month, as oil soared past $126 a barrel and metal producers retreated on concern the surge in commodity prices will end.

Billionaire investor Kirk Kerkorian offered to buy 20 million of Ford Motor Company's shares, according to a securities filing.

Circuit City Stores Inc. said Friday that it has hired Goldman Sachs & Co. to help the company in exploring strategic alternatives and said it will allow video-rental chain Blockbuster Inc. and its largest shareholder, Carl Icahn, to review its books.

Citigroup expects to reduce about $400 billion in non-core assets over the next three years, as the largest U.S. bank seeks to boost efficiency and regain profitability.