AFP - The United States and Asia's four largest powers voiced "serious concern" Saturday about a record spike in oil prices but vowed to keep scaling back politically sensitive fuel subsidies.

Reuters - The world's leading semiconductor maker Intel Corp faces a formal investigation by the U.S. Federal Trade Commission after fighting similar antitrust probes in Europe and Asia, the company said on Friday.

Reuters - The U.S. unemployment rate surged to 5.5 percent in May, its highest in more than 3-1/2 years, as the barely growing economy lost jobs for the fifth straight month.

Reuters - Oil jumped nearly 9 percent to a record $139 a barrel on Friday, extending a two-day rally to more than $16 as the slumping U.S. dollar and mounting tensions between Israel and Iran attracted a stampede of buyers.

Reuters - Stocks plunged on Friday, marking the Dow's worst day in 15 months, after the government said the May unemployment rate jumped the most in 22 years and oil prices shot to another record, renewing fears that the U.S. economy faces 1970s-style stagflation.

AP - Wal-Mart executives said Friday that a reinvigorated focus on price has allowed the world's largest retailer to beat out competitors in a challenging economic environment.

AP - The nation's unemployment rate jumped to 5.5 percent in May — the biggest monthly rise since 1986 — as nervous employers cut 49,000 jobs.

Reuters - The U.S. Federal Trade Commission has opened a formal antitrust investigation of semiconductor maker Intel Corp for anti-competitive conduct, Intel and the FTC said on Thursday.

Reuters - Oil jumped $10 to a record over $138 a barrel on Friday, extending a two-day rally to more than $15 on the slumping U.S. dollar and rising tensions between Israel and Iran.

Reuters - Oil prices, which last month hit a record high above $135 a barrel, will probably rise to $140 soon, the head of Libya's National Oil Corporation (NOC) said on Friday.

Reuters - U.S. stocks slid on Friday on renewed fears the U.S. economy faces 1970s-style stagflation after government data showed the unemployment rate jumped the most in 22 years in May and the price of oil hit a record.

Reuters - The U.S. unemployment rate surged to 5.5 percent in May, its highest in more than 3-1/2 years, as the barely growing economy lost jobs for the fifth straight month.

AP - Tax rebate checks gave consumers a little extra money in their pockets during May, but most were still spending conservatively, buying necessities such as food and gas and shying away from splurging on clothing or furniture. The result was some better-than-expected sales for the nation's retailers, with lower-priced merchants like discounters and wholesale clubs showing the strongest gains.