Two killed in Iran gas pipeline blast: reports (AFP)

AFP - Two people were killed and 16 others injured by an explosion at a gas pipeline near Iran's northeastern city of Mashhad on Friday, local media reported.

Wall Street rises with energy, but techs lag (Reuters)

Reuters - The Dow and S&P 500 gained modestly on Friday, led higher as energy shares were boosted by a jump in oil prices, but weak tech stocks and light volume capped gains.

July wholesale inventories jump 1.3 percent (Reuters)

Reuters - Wholesale inventories surged the most in two years in July, adding to signs that economic growth in the third quarter of the year may prove a bit stronger than many forecasters had expected.

Renault, Peugeot Citroen reimburse $2.5B to state (AP)

AP - Carmakers Renault and PSA Peugeot Citroen said Friday they are reimbursing ahead of schedule euro1 billion ($1.27 billion) each in loans that were part of the French state bailout of the auto industry.

Deutsche 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.

Earnings schedule for week of 9/13/2010 (AP)

AP - Major companies tentatively scheduled to report quarterly earnings next week:

Regulators probe fund-of-funds firms in sweep (Reuters)

Reuters - Securities regulators are probing "fund-of-funds" firms that channel investors' money into hedge funds, looking at supervision of client assets and potential conflicts of interest, according to a person familiar with the matter.

Treasury's Barr to testify on Fannie and Freddie (Reuters)

Reuters - Michael Barr, assistant treasury secretary for financial institutions, and Edward DeMarco, acting director of the Federal Housing Finance Agency will testify on Capitol Hill next week on the future of Fannie Mae and Freddie Mac .

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.

Capstead Mortgage shares fall on dividend cut (AP)

AP - Shares of Capstead Mortgage Corp. fell Friday after the real estate investment trust cut its dividend for the fifth straight quarter.

Nokia brings in Microsoft exec to replace CEO (Reuters)

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

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. ...

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.

China's imports leap, cutting trade surplus (Reuters)

Reuters - China's imports leapt in August, boding well for a strengthening of domestic demand in an economy that has become a major driver of global growth.

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.

Flash crash cause still a mystery (Investor's Business Daily)

Investor's Business Daily - The SEC, which is probing the stock market "flash crash" on May 6, still hasn't identified a single cause, but a trade practice known as "stub quotes" and other issues contributed to the market's dramatic drop, sources said. Stub quotes are orders placed by market makers that are well off the market prices for stocks. The SEC wants to ban stub quotes.