The price of oil rose to $96 a barrel on Friday on hopes that a steady recovery in the U.S. economy could boost fuel use.

Treasury Secretary Jacob Lew told Congress on Friday that the administration will begin taking steps next week to avoid a default on the nation's debt until Congress votes to raise the government's borrowing limit.

It was supposed to be our IPO, the people's public offering.

The Internal Revenue Service is feeling the sort of heat that targeted taxpayers feel from the tax agency. It's the sense that a powerful someone is breathing down your neck.

Encouraging news about the U.S. economy extended the stock market's rally Friday.

The Energy Department on Friday conditionally approved a Texas company's proposal to export liquefied natural gas, only the second such project allowed to move forward amid a production boom that has led to glut of domestic natural gas.

Shares of General Motors reached an important milestone on Friday, topping their initial public offering price of $33 for the first time in more than two years.

By The Associated Press

The Mexican government says it has cut its economic growth forecast for 2013 from 3.5 percent to 3.1 after exports stagnated and first-quarter GDP figures came in weak.

Cyprus has eliminated limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the debt-laden country.

Gold prices are falling for a seventh day in a row, drawn down by a stronger U.S. dollar and better economic news.

Legislation cleared the House on Friday that would place stricter requirements on the federal agency overseeing Wall Street to assess the costs and benefits of its regulations before they are issued.

Shares of Marketo, a provider of cloud-based marketing software, leaped in their trading debut on Friday.

Oilfield services company Baker Hughes Inc. says the number of rigs actively exploring for oil and natural gas in the U.S. remains unchanged this week, at 1,769.

Italy's new cross-party government has adopted its first measures to help the economy. They include suspending a tax on primary residences and allocating funds to extend a short-term layoff scheme.

Treasury Secretary Jacob Lew is telling Congress that the administration will begin taking steps next week to avoid a default on the nation's debt until Congress votes to raise the government's borrowing limit.

In a story May 15 about retailers' reactions to a proposal aimed at making garment factories safer in Bangladesh, The Associated Press erroneously reported that Gap wouldn't sign on unless it would be free of any legal liability. In fact, Gap was objecting to facing unlimited legal liability. The company says that its proposal provides for a number of areas for Gap to be held legally liable.

Federal regulators are ordering the Bank of Montreal to take steps to correct lapses in oversight that could allow the bank to be used for money laundering.

The organic food industry is gaining influence on Capitol Hill, prompted by its entry into traditional farm states and by increasing consumer demand.

The Energy Department has given conditional approval to a Texas company that wants to export liquefied natural gas, the second LNG export project the Obama administration has approved as it faces a wave of export requests.