AP - Nokia Corp. is replacing CEO Olli-Pekka Kallasvuo with Microsoft executive Stephen Elop as the world's top maker of mobile phones aims to regain lost ground in the fiercely competitive smart phone market.

AFP - India's industrial output in July surged by a forecast-busting 13.8 percent, data showed Friday, raising chances of further monetary tightening as early as next week to curb stubbornly high inflation.

Reuters - Stocks pared gains on Friday and the Nasdaq Composit index turned negative as weakness in semiconductor shares weighed on the wider market.

AP - Iran's president intervened to secure the release of Sarah Shourd, one of three Americans jailed for more than 13 months, in part because of her gender, a news agency reported Friday.

AP - Hundreds of sex abuse victims have come forward in Belgium with harrowing accounts of molestation by Catholic clergy that reportedly led to at least 13 suicides and affected children as young as two, a special commission said Friday.

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.

AFP - Teams from the Central African Republic's electoral commission have begun deploying throughout the country to prepare for a census that will begin on September 22, the organisation announced Friday.

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.

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.

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.

Reuters - Imagine driving across America using a fuel so new you have to carry your own supply wherever you go.

Reuters - Wholesale inventories surged by the largest amount in two years in July, a government report said on Friday, in a sign firms were anticipating enough demand to boost stock this summer.

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.

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.

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.