Reuters - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

Reuters - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.

Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.

Reuters - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.

Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

Reuters - Microsoft said on Friday it was appealing against a record 899 million euro ($1.39 billion) fine imposed by the European Commission for using high prices to discourage software competition.

Reuters - Take-Two Interactive Software Inc said on Friday that "Pirates of the Caribbean" director Gore Verbinski will make a movie version of "BioShock," its hit video game about an underwater utopia gone disastrously wrong.