Reuters - President Barack Obama accused Republicans on Friday of holding the middle class hostage as he defended his efforts to stimulate the sluggish economy and try to reverse Democrats' grim election prospects.

AP - President Barack Obama insisted Friday that the U.S. economy is digging itself out of the deepest recession in decades but conceded that "progress has been painfully slow" and many voters in November's elections may blame him.

AP - Stocks inched higher Friday as investors held on to their newfound optimism about the economy.

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.

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.

AFP - US President Barack Obama said Friday the "hole" left by the worst recession in decades was "huge" and admitted the recovery had been "painfully slow," but vowed his policies were working.

Reuters - BP is to be evicted from the FTSE4Good ethical investment index due to its Gulf of Mexico oil spill, index compiler FTSE said on Friday, as BP said it would delay its third-quarter results due to the challenges of accounting for spill costs.

AFP - Shares in London ended in the black on Friday as confidence grew over the health of the global economy.

AP - President Barack Obama says that if voters weigh his economic policies against those of Republicans, then "the Democrats will do very well" in November.

AP - Germany's main stock market was the only major index in Europe and the U.S. to fall Friday as investors were dismayed by 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.

AFP - US President Barack Obama on Friday named Austan Goolsbee, an economics professor currently working in his administration, to chair the Council of Economic Advisors (CEA).

AP - President Barack Obama says his entire economic agenda is designed to stimulate growth and create jobs, despite his administration's reluctance to call his new proposals a "stimulus plan."

AP - Inventories held by wholesalers surged in July by the largest amount in two years while sales rebounded after two straight declines.

AFP - European stock markets drifted lower on Friday amid mixed world economic data, while a reported plan by Deutsche Bank to issue new shares reignited concerns about the health of Europe's banking sector.

AP - President Barack Obama has chosen one of his longtime economic advisers, Austan Goolsbee, to be the chairman of his Council of Economic Advisers, a White House official said.

AP - Japan's economy isn't quite as weak as first thought, but it still needs help, the government said Friday as it unveiled details of a new $11 billion stimulus package.

Reuters - President Barack Obama has chosen Austan Goolsbee as the new head of the White House Council of Economic Advisers, U.S. administration officials said on Thursday, promoting a longtime adviser from his inner policy circle.

Reuters - A set of U.N. goals aimed at drastically reducing poverty and hunger worldwide by 2015 are achievable, despite setbacks caused by the global financial and economic crises, a draft document said.

AFP - A handful of traders who master stock markets using ultra-fast computers may soon face a clampdown by US watchdogs as they try to prevent freak electronic glitches.

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.