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.

Train engineer's arm amputated after derailment (AP)

AP - A Southern California surgical team on Friday amputated the arm of a freight train engineer to free him from the wreckage of a locomotive that rear-ended a slow moving freighter on tracks 50 miles east of Los Angeles.

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?

1 dead, 53 homes destroyed in California fire (AP)

AP - Fire crews flooded the ruins of burning homes with water early Friday after a massive explosion apparently triggered by a broken gas line sent flames roaring through a neighborhood near San Francisco, destroying more than 50 houses. There was one confirmed death and reports of several others.

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.

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.

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.

Moms of US hikers held in Iran get some good news (AP)

AP - Three U.S. mothers who have pleaded with Iranian authorities for more than a year to free their sons and daughter from a Tehran prison finally received a piece of the news they've been longing for.

Close watch on Colorado wildfire as winds kick up (AP)

AP - Weary firefighters hoped the worst was over from a wildfire that destroyed nearly 170 homes in the Rocky Mountains foothills, but crews monitored were monitoring hot spots early Friday amid concerns that erratic winds could fan the flames and send them into Boulder.

Report: US must deal with domestic radical problem (AP)

AP - The U.S. was slow to take seriously the threat posed by homegrown radicals and the government has failed to put systems in place to deal with the growing phenomenon, according to a new report compiled by the former heads of the Sept. 11 Commission.

Calif judge to stop 'don't ask, don't tell' policy (AP)

AP - A federal judge said she will issue an order to halt the military's "don't ask, don't tell" policy, after she declared the ban on openly gay service members unconstitutional.

Woman held after 2 shot dead at Pa. cookie plant (AP)

AP - Minutes after a woman was suspended from her job at a Kraft Foods Inc. plant and was escorted out, she returned with a handgun and opened fire, killing two people and critically injuring a third before being taken into custody, police said.

Calif judge to stop 'don't ask, don't tell' policy (AP)

AP - A federal judge said she will issue an order to halt the military's "don't ask, don't tell" policy, after she declared the ban on openly gay service members unconstitutional.

Obama to take GOP to task on economy, tax cuts (AP)

AP - Striving to gain the upper hand on a crucial political issue, President Barack Obama is faulting Republicans for refusing to help him turn around the sluggish economy or support some proposed new tax breaks for businesses that the GOP has backed in the past.

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. ...

Gingrich urges moderation amid Quran-burning furor (AP)

AP - Former House Speaker Newt Gingrich says President Barack Obama should speak as bluntly to the Islamists planning a mosque near the Sept. 11 attack site as he has to the minister threatening to burn the Quran.

Schwarzenegger needles Palin (Politico)

Politico - The governor takes a moment during his flight to Asia to poke fun at the former VP candidate.

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.

Pa. mosque opens peacefully near synagogue, church (AP)

AP - A new mosque recently opened in this well-to-do suburb of Philadelphia, but not many people noticed.

Wash. executes man convicted of woman's murder (AP)

AP - Convicted killer Cal Coburn Brown was executed early Friday by lethal injection for the rape, torture and murder of a Seattle-area woman, after delivering a statement complaining he was treated unfairly by the legal system.

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

Calm prevails in LA neighborhood after protests (AP)

AP - After three nights of violent protests, calm mainly prevailed over a gritty neighborhood where police fatally shot an illegal immigrant from Guatemala who was menacing officers with a knife.

Islamic charity co-founder convicted on tax charge (AP)

AP - The co-founder of an Islamic charity has been convicted of charges related to helping smuggle $150,000 to Muslim fighters in Chechnya.

Seven questions for Obama (Politico)

Politico - There are plenty of questions that Obama could face in his Friday news conference.