IBT Staff Reporter

Oil prices were mostly unchanged on Friday despite a report released today that of lower consumer confidence which triggered speculation that U.S. demand will fall.

The United States said that it will shoot down a dying U.S spy satellite earlier this week, and on Friday government officials promised to compensate other nations for any debris that lands in their territory.Whether the engagement succeeds or fails, the U.S. is prepared to offer assistance to governments to mitigate the consequences of any satellite debris impacts on their territory, Ambassador Christina Rocca told the Conference on Disarmament.The satellite is carrying more than 1,...

Continental Airlines, which is currently in talks to combine with the parent company of United Airlines, is also discussing options with the parent of American Airlines, according to a report.

President George W. Bush set-off on Friday for a five-nation tour, touting American compassion for the poor on the continent.

Wal-Mart, the world's largest retailer, has decided that it will exclusively sell second generation DVDs in the Blu-Ray format, dealing one in a series of blows to the rival HD DVD format.

Most of Yahoo Inc's top institutional shareholders may be more interested in making sure Microsoft Corp does not overpay for the Web pioneer, because they have more money invested in the bigger software maker, a research report said on Friday.

Wal-Mart Stores Inc has decided to exclusively sell high-definition DVDs in the Blu-Ray format, dealing what could be a crippling blow to the rival HD DVD technology backed by Toshiba Corp.

Wall Street investment banks, stung by debt losses, have cut tens of thousands of jobs, but even more significant cuts are coming in the months ahead amid a bleaker earnings outlook.

The world's largest banks could see more than $200 billion more in additional write downs, depending on the outcome for troubled bond insurers.

Treasuries rose on Friday after a report on plummeting U.S. consumer sentiment and drops in New York manufacturing increased concerns about a U.S. recession.

The dollar fell against the euro and yen on Friday after a new survey showed American consumer confidence fell sharply while manufacturing in the New York region tumbled, leading to more worries about a possible recession.

Gold posted gains on Friday on concerns that interest-rate cuts in the U.S. will increase demand for the metal as an alternative to the dollar.

Nintendo's Wii is expected to displace Microsoft Corp.'s Xbox 360 as the new-generation video game console with the world's largest installed base.

Soybean and soybean oil futures in Chicago increased amid speculations that demand from China will increase following strong winter storms that severely damaged China's crops.

According to the Ministry of Justice, the number of companies applying to be wound up in England and Wales dropped by three per cent in 2007. Latest figures indicate 11,791 companies folded last year due to insolvency or other problems.

Lactalis McLelland has admitted its role in a diary price fixing scandal in which top supermarket chains and diary producers stand accused of colluding to fix the retail price diary products.

Tokyo-Japan Computer Entertainment Supplier's Association (CESA) announced Friday that Tokyo Game Show 2008 would be held from October 9 to 12. This year's slogan for the show is Let's go! Now is the time of GAME.

The April 15 income-tax filing deadline isn't that far away and while many people still do their own taxes, a majority seek professional help to deal with the increasingly complex tax code.

Americans eligible for tax rebates of $300 to $1,200 under the new fiscal stimulus act will not receive their payments until they file a 2007 income tax return, even if they make too little to owe any taxes, the Internal Revenue Service said on Wednesday.

U.S. Treasury Secretary Henry Paulson on Thursday said there will be a big effort to get Americans to file their taxes promptly so that they can qualify for rebates under the new U.S. economic stimulus plan.

The dollar fell against the euro on Friday after a gauge of consumer sentiment plunged to its lowest level since 1992, adding to fears that the U.S. economy may be slouching toward recession.

The International Olympic Committee on Friday gave the green light to allow blogging at the Olympics for the first time, issuing guidelines for this August's Beijing Games.

Activision Inc on Friday unveiled a new Guitar Hero video game focusing on the rock band Aerosmith, taking the billion-dollar franchise in a new direction.

The high-definition DVD format war has turned into a format death watch.

Lining up for an hour and a half is a long wait to pick a fight. But for those in the arcade and gaming industry, the global unveiling of Street Fighter IV, the first new version of the classic fighting game in nearly eight years, was a chance not only to throw a few fireballs down memory lane but also to try out some new moves.

India's Tata Capital and Japan's Mizuho Securities Co Ltd have signed an initial deal to jointly offer financial services such as investment banking, private equity, broking and wealth management.

China's securities regulator has approved the creation of at least three new mutual funds to raise more than 20 billion yuan ($2.8 billion), in an apparent effort to support the sagging stock market, sources said on Friday.

Consumer sentiment fell sharply in early February to levels associated with previous recessions, dragged down by concerns a bleak economic outlook would raise the unemployment rate, a survey showed on Friday. The Reuters/University of Michigan Surveys of Consumers index of consumer sentiment dropped to 69.6, the lowest reading since February 1992, and below analysts' median forecast for a preliminary reading of 76.3.

Swiss bank UBS could face billions of dollars more in subprime-related write-downs in 2008, which could tip it into a second year of losses, analysts warned investors, sending its shares tumbling again. Some said UBS might be only halfway through clearing the debris from the subprime loan disaster that has already saddled it with $18 billion in charges in 2007.