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.

Energy to lead Wall Street higher, semis eyed (Reuters)

Reuters - Stocks were set to rise at the open on Friday after posting gains in six of the last seven sessions, buoyed by a jump in crude oil prices.

Tokyo's electric taxi experiment (Reuters)

Reuters - Yoshihiko Takahashi chuckles politely when asked if he's weary of having the same conversation with passengers, day in and day out, as he shuttles them around Tokyo in his white-and-blue all-electric taxi. How often do you have to recharge? How far can you go? Does this car really have no emissions?

Oil rises to over $75 on U.S. supply outage (Reuters)

Reuters - U.S. crude rose more than $1 to over $75 on Friday due to the shutdown of a major pipeline, but a leading forecaster said demand would remain tepid.

Afghans protest, Fla. pastor plans to meet NY imam (AP)

AP - As thousands of Afghans protested a tiny Florida church's plan to burn the Muslim holy book, the church's pastor said he won't follow through with the burning if he's able to meet Saturday with the organizers behind a mosque planned near ground zero in New York.

Japan wary of China military, urges closer US ties (AP)

AP - Japan's Defense Ministry stressed the importance of U.S. military forces in Japan and cast a wary eye on China's military expansion in an annual report Friday, as diplomatic tensions with China rose following a collision near disputed islands.

S. Africa official: 31 injured in train collision (AP)

AP - South African emergency officials say 31 people were injured when a passenger train crashed into a stationary goods train east of Johannesburg.

Greece pledges to overhaul loss-making state rail (AP)

AP - The Greek government pledged Friday to radically overhaul loss-making state rail company OSE, as official data showed efforts to cut the country's bloated budget deficit remained on track, if slightly asthmatic.

Medvedev rebuffs criticism of Russian democracy (Reuters)

Reuters - Russian President Dmitry Medvedev rebuffed accusations of democratic backsliding on Friday and said political reform had to be gradual to ensure stability.

Nokia brings in Microsoft exec to replace CEO (Reuters)

Reuters - Nokia has hired Stephen Elop, a Canadian Microsoft executive of Silicon Valley pedigree, to replace its embattled chief executive and renew its drive to compete with Apple.

Cyrus the Great artifact to be displayed in Iran (AP)

AP - A Babylonian artifact sometimes described as the world's first human rights charter is to go on display in Iran after the government threatened to cut ties with the British Museum if it did not loan the object.

Peace Corps volunteer in Lesotho killed (AP)

AP - The U.S. Embassy in Lesotho says a U.S. Peace Corps volunteer in the southern African country was shot and killed in an apparent robbery attempt.

Admissions Q&A: Brigham Young (BusinessWeek)

BusinessWeek - Brigham Young University's Marriott School of Management (Marriott Full-Time MBA Profile) offers students more than a rigorous business education. Students at the school, owned by the Church of Jesus Christ of Latter-day Saints, are required to abide by a strict honor code, based on the tenets of the Mormon religion. The code includes rules against academic dishonesty and requires students to "live a chaste and virtuous life." It also prohibits drugs, alcohol, and coffee -- even at home. ...

German shares weighed down by bank refunding talk (AP)

AP - German stocks led European markets modestly lower Friday following reports that Deutsche Bank AG is planning to raise as much as euro9 billion ($11.4 billion) to lift its stake in Deutsche Postbank AG and shore up its capital base.

Artists protest looming cuts to UK culture budget (AP)

AP - Some of Britain's best-known artists are opposing planned government cuts that could slash arts funding by 25 percent.

Canada adds more jobs in August (Reuters)

Reuters - Canada's economy added 35,800 jobs in August, slightly more than expected, although the pace of employment creation was slower than in the first half of the year.

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

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

Ghana: 17 dead after dam spills in neighbor nation (AP)

AP - Officials say 17 people in Ghana have died after neighboring Burkina Faso opened the spillways of a dam that was filling amid heavy rains.

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.

Pakistan's Floods: Through Hell and High Water (Time.com)

Time.com - Pakistan's Floods: Through Hell and High Water

Why Foreign Businesses in China Are Getting Mad (Time.com)

Time.com - Foreign businesses in China are voicing growing frustration about the country's heavily regulated market -- a bureaucratic maze many say is deliberately designed to hamstring non-Chinese players to the advantage of their local competitors

Australian 'kingmaking' MP declines ministerial post (AFP)

AFP - An independent Australian politician whose support was crucial to keeping Prime Minister Julia Gillard in power Friday knocked back an offer to become a minister in her minority government.

Mexican police didn't know they'd caught drug capo (AP)

AP - The Mexican police officers who arrested infamous drug suspect Edgar Valdez Villarreal, alias "La Barbie," did not initially know who they had caught, according to a booking report obtained Thursday.

Quran burning canceled after Pentagon calls pastor (McClatchy Newspapers)

McClatchy Newspapers - WASHINGTON — Under tremendous pressure from U.S. officials all the way up to President Barack Obama, a Florida pastor on Thursday called off a Quran burning that he'd scheduled for Saturday, the anniversary of the 9/11 attacks, which had drawn international condemnation and posed a potential threat to national security.

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.

Iraq to pay $400 million for Saddam's mistreatment of Americans (The Christian Science Monitor)

The Christian Science Monitor - Iraq has quietly agreed to pay $400 million in claims to American citizens who say they were tortured or traumatized by Saddam Husseinâs regime after his 1990 invasion of Kuwait.

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.

SEC says proposed Citi settlement is fair (Reuters)

Reuters - The top securities regulator defended its proposed $75 million settlement with Citigroup , saying the penalty reasonably accounts for the seriousness of the bank's alleged misconduct, according to a document filed in court on Wednesday.

Banging a Drum for the MDG Summit (OneWorld.net)

OneWorld.net - NEW YORK, Sep 7 (IRIN) - Activists are pulling out all the stops ahead of a development summit at UN headquarters on 20-22 September. Pro-aid and anti-poverty lobbyists are trying everything from giant letters to banging pans to raise awareness of the high-level event.