Dubai World reaches $24.9 billion debt deal (Reuters)

Reuters - State-owned conglomerate Dubai World on Friday reached a formal deal to restructure around $24.9 billion of liabilities, partly easing recently heightened concerns over the Gulf emirate's debt woes.

Trichet: phasing out crisis measures to take time (AP)

AP - It may take a while yet to phase out the special credit support that was given to banks in the wake of the financial crisis, the European Central Bank's president has said.

Deutsche Bank set to lead likely Basel cash call charge (Reuters)

Reuters - Deutsche Bank is set to lead rivals raising billions of euros as radical new global capital rules to be unveiled this weekend bite, and showed it may be good to get the jump on the pack.

Oil jumps to near $76 on U.S. supply outage (Reuters)

Reuters - U.S. crude approached a three-week high near $76 on Friday, after record U.S. inventories were offset by the shutdown of a major pipeline, but a leading forecaster said oil demand would remain tepid.

Nokia brings in Microsoft exec to replace CEO (Reuters)

Reuters - Nokia (NOK1V.HE), the world's top cellphone maker, brought in Microsoft's Stephen Elop to replace its embattled chief executive and lead a renewed effort to compete in the smartphone market.

Stock index futures up (Reuters)

Reuters - Stock index futures pointed to a slightly higher open on Wall Street on Friday, with futures for the S&P 500 up 0.3 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.4 percent at 0850 GMT.

Renault, Peugeot to repay state loan early (AFP)

AFP - French carmakers Renault and PSA Peugeot Citroen said Friday they each plan to pay back a third of their three-billion-euro (3.8-billion-dollar) state loans ahead of time.

Dubai World wins over most creditors to debt plan (AP)

AP - Dubai World says it has won over nearly all its creditors to its plan to restructure $24.9 billion in debt.

SEC probing certain investment advisory firms: report (Reuters)

Reuters - The securities regulator is investigating investment advisory firms that channel investors' money into hedge funds, the Wall Street Journal reported.

Summary Box: Jobless claims drop, trade gap falls (AP)

AP - JOBLESS CLAIMS: The number of people signing up for unemployment benefits dropped by 27,000 last week to 451,000, the lowest level in two months.

Mortgage rates edge up; Housing market still slow (AP)

AP - Record-low mortgage rates failed to pull the housing market out of its funk. Now rates are inching higher, but don't blame them if home sales stay sluggish.

Homeowners, Beware Association Costs (Investor's Business Daily)

Investor's Business Daily - House and condo owners may face extra costs as their homeowner associations struggle with unpaid assessments, the legacy of neighbors hit by job losses and foreclosures.

Shoe seller DSW's operator says 2Q profit jumps (AP)

AP - Retail Ventures Inc., which operates the DSW shoe store chain, posted a 67 percent jump in second-quarter net income as a key revenue figure improved.

Analysis: Obama has tenuous grip on Democrats over taxes (Reuters)

Reuters - Democrats in Congress are distancing themselves from President Barack Obama's push to let taxes rise for the wealthiest Americans, fearing it will further harm them in November's mid-term elections.

Wal-Mart US merchandising now headed by four execs (Reuters)

Reuters - Wal-Mart Stores Inc will remain without a chief merchandising officer for its U.S. stores for now, instead naming four new product heads to take over that responsibility, the retailer said on Thursday.

Web Impostors May Face Prison in California (BusinessWeek)

BusinessWeek - California Web impostors beware: You may soon be breaking the law, even if you aren't one of the perpetrators targeted by the state's "e-personation" bill.

Flash crash report: plunge still a mystery: sources (Reuters)

Reuters - Regulators probing the stock market "flash crash" last May still have not uncovered a single cause but will point to "stub quotes" and other previously identified issues as having exacerbated the market's dramatic drop, according to two sources familiar with the probe.