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Citigroup to shed nearly $500B in assets 14 minutes ago NEW YORK (AP) -- Citigroup Inc. said Friday it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive losses tied to deter  Read Story.

Gas jumps above $3.67, oil passes $126 on Venezuela concerns 1 hours ago NEW YORK (AP) -- Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Ven  Read Story.

Diageo brews Irish Guinness overhaul 2 hours ago DUBLIN, Ireland (AP) -- Guinness beer owner Diageo PLC rattled an Irish icon Friday, announcing plans to lay off more than half of its brewery workers, close two breweries and shift most beer producti  Read Story.

Oil surpasses $126 per barrel ahead of US driving season 2 hours ago Oil prices surpassed a record $126 per barrel Friday on the eve of the U.S. driving season as a weakening dollar drove investors to snap up commodities....  Read Story.

Citigroup to shed $500B in assets 2 hours ago NEW YORK (AP) -- Citigroup Inc. said Friday it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive losses tied to deter  Read Story.

Icahn prepared to buy Circuit City if Blockbuster can't 2 hours ago NEW YORK (AP) -- Consumer electronics retailer Circuit City Stores said Friday that it will allow Blockbuster to review its books in connection with the video-rental chain's bid to buy the company....  Read Story.

China producer price index up 8.1 pct 3 hours ago SHANGHAI, China (AP) -- China's producer price index, a key indicator of inflation, rose 8.1 percent in April over the same month a year earlier, the government reported Friday, as a top economic offi  Read Story.

Guinness brewing ops being consoldiated in Irleand 3 hours ago DUBLIN, Ireland (AP) -- Diageo PLC said Friday it will close two Irish breweries, reduce operations at a third facility and cut its staff in the country by more than half as it consolidates Guinness b  Read Story.

Citigroup targeting 9 percent revenue growth 3 hours ago NEW YORK (AP) -- Citigroup Inc. said Friday it is aiming for 9 percent revenue growth as it looks to rebound from recent struggles tied to deterioration in the mortgage and credit markets....  Read Story.

Clear Channel Communications reports profit, revenue jump 4 hours ago NEW YORK (AP) -- Radio broadcaster Clear Channel Communications Inc. says its profit soared in the first quarter while revenues rose 4 percent....  Read Story.

German insurer Allianz 1Q net profit falls 65 percent 4 hours ago FRANKFURT, Germany (AP) -- German insurer Allianz SE said Friday first-quarter net profit fell 65 percent due to difficult market conditions as it wrote down $1.3 billion tied to the U.S. subprime cri  Read Story.

Dollar falls against euro on ECB interest rate signals 5 hours ago FRANKFURT, Germany (AP) -- The dollar fell against the euro Friday after the European Central Bank signaled that it was unlikely it would consider any interest rate cuts in the coming months....  Read Story.

Oil surpasses $125 per barrel ahead of US driving season 5 hours ago Oil prices surged past $125 per barrel Friday on the eve of the U.S. driving season as a weakening U.S. dollar drove investors to snap up commodities....  Read Story.

Rain comes to western Texas just in time for cotton planting 6 hours ago LUBBOCK, Texas (AP) -- Craig Heinrich and other South Plains cotton producers no longer have to look to the sky and pray - widespread rain arrived just in time for planting....  Read Story.

Japanese shares drop on Toyota outlook 6 hours ago TOKYO (AP) -- Japanese shares dropped Friday as selling spread across the board following Toyota's bleak earnings projection....  Read Story.

China producer price index up 8.1 percent in April 6 hours ago SHANGHAI, China (AP) -- China's producer price index, a key inflation indicator, rose 8.1 percent in April over the same month a year earlier, the government reported, as a top economic official urged  Read Story.

Oil approaches $125 per barrel 6 hours ago Oil prices struck record highs near $125 as investors dumped more money into commodities....  Read Story.

Oil holds above $124 after record 7 hours ago BANGKOK, Thailand (AP) -- Oil prices held above $124 a barrel Friday in Asia after hitting an intraday trading record as bullish momentum and renewed weakening of the U.S. dollar kept the commodity on  Read Story.

Japan Airlines reduces losses in latest quarter 10 hours ago TOKYO (AP) -- Japan Airlines reduced losses in the January-March quarter from a year earlier on cost cuts but forecast lower profit Friday for this fiscal year, blaming soaring fuel costs and intense   Read Story.

AIG posts 1Q loss of $7.8B, plans to raise $12.5B 11 hours ago NEW YORK (AP) -- American International Group Inc. says it will raise $12.5 billion in the coming months as the insurer looks to shore up a capital base that has been rocked by deterioration in the cr  Read Story.

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