IBT Staff Reporter

Michael Jackson has reached a confidential agreement with Fortress Investment Group to retain ownership of his 2,500-acre Neverland ranch in Los Olivos, Calif., northwest of Santa Barbara, according to reports.

Clear Channel Communications Inc completed the sale of its television group to Newport Television LLC for $1.1 billion, the U.S. radio operator said on Friday.c

Shares of Bear Stearns Cos. fell nearly 50 percent on Friday after the Federal Reserve, through JPMorgan Chase & Co, gave the struggling investment bank an emergency loan.

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The ban of a controversial video-game has been lifted in Europe today ending a long standing battle between game maker Rockstar and the British Board of Film Classification.

Apple has called its Apple TV product a hobby while its iPod and computer products have served as its main growth engines, however new surfaced patents could morph the product into a game-changer one analysts contends.

Microsoft and Yahoo senior executives met on Monday this week and discussed about Microsoft's takeover for the internet giant according to published reports.

U.S. crude futures fell from a record high on worries about a weaker demand in the United States, the top consumer of oil in the world.

Doctors responsible for treating actor John Ritter on Friday before he died in 2003 from a torn aorta, have been cleared of negligence after receiving a $67 million wrongful death lawsuit.

Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. central bank would use the full measure of its ability to help alleviate the housing crisis.

Sensex, the prime 30-share index of the Bombay Stock Exchange (BSE) staged a comeback on Friday and ended the week on a positive note, gaining 2.63 percent or 403.17 points, even as concerns persisted about weak US economy and subprime crisis.

Gold futures spiked to a new record of $1,009 an ounce in New York on Friday, as investors turned to the safe haven after news of a bailout from troubled investment bank Bear Stearns while the plunging demand increased demand for the precious metal.

Cocoa gained on Friday amid concerns that a strike by cocoa workers in Ivory Coast, the world's top cocoa producer will reduce supply.

Corn and soybeans declined on Friday amid speculations that a tumbling U.S. economy will reduce investor demand for raw materials and cut use of grains and oilseeds in bio-fuels and livestock feed.

U.S. Treasury note prices rose on Friday after amid continuing struggles in the financial sector as the Federal Reserve, through JPMorgan Chase, gave emergency funds to struggling investment bank Bear Stearns.

The dollar fell to a new low against the euro and dipped lower against the yen on Friday amid more trouble in the financial sector as JPMorgan Chase and the New York Federal reserved teamed up to bail out struggling investment bank Bear Stearns.

Two astronauts from the US shuttle Endeavour on Thursday began the first of a series of spacewalks to install Japan's maiden laboratory at the International Space Station, according to NASA.

U.S. copper futures closed down erasing earlier gains on Thursday as investors worry that an economic recession in the United States could reduce demand for the metal.

Nintendo continued to dominate rivals in the month of February, with new data showing the game-maker selling nearly twice as many game-consoles in the second month of the year.

Wheat declined after the U.S. Department of Agriculture said that export sales increased by 51 percent last week, increasing forecasts that importers have enough grain until the next harvest begins in June.

The dollar traded at a record low versus the euro on Thursday on concerns of continuing credit market turmoil and its possible effect on the U.S. economy.

Japan stocks plunged over 3 percent Thursday, marking their lowest levels since August 2005 as the yen increased and fears of U.S. recession.

Gold futures in New York surged above the historic $1,000 an ounce benchmark on Thursday, led by a combination of a weakening dollar, soaring crude oil prices and strong investment demand, prompting investors to enter the bullion market. Silver and platinum also gained.

Oil prices rose slightly on Thursday after reaching a new record high of $111 a barrel as the dollar continued its steep decline.

U.S. stocks gained for the second day this week, with the Dow Industrials recovering from a steep 235 drop, after Standard & Poor's predicted banks might end its subprime mortgage write downs and gold soared over the $1,000 an ounce benchmark.

Natural gas spot and futures prices generally increased this report week, as cold weather continued but showed signs of easing. During the report week, the Henry Hub spot price increased $0.32 per million Btu (MMBtu) to $9.69.

U.S. gold futures hit a record high of $1,00 an ounce on Thursday morning, led by a combination of a weakening dollar, soaring crude oil prices and strong investment demand.