Stocks advanced Friday as Disney's earnings beat and JCPenney's outlook helped offset worries about a drop in consumer sentiment. For the week, the Dow gained 2.5 percent, finishing at its highest level since Oct. 2008.

Stocks clawed higher Friday as solid earnings from Disney and JCPenney helped offset worries about a drop in consumer sentiment. It was a wobbly morning but by midday, the  Dow was up more than 100 points, or 1 percent.

Stocks wobbled Friday as investors juggled a drop in consumer confidence against solid earnings from Disney and JCPenney. They started the day higher, then retreated, then made another push higher.

Thursday's losses notwithstanding, Wall Street's major averages enter the Friday session with a chance to finish off their second consecutive week of gains.

The proposed merger between British Airways and Iberia would be bad for consumers as the flag-carrying airlines would raise ticket prices on their competing routes, Michael O'Leary, CEO of discount Irish carrier Ryanair, told CNBC Friday.

British Airways and Spain's Iberia announced  a preliminary agreement for a $7 billion merger to create the world's third-largest airline by revenue

A merger between British Airways and Spain's Iberia looked imminent on Thursday as their boards held separate meetings to discuss a deal to create the world's third-largest airline by revenue.

British Airways swung to a first-half pretax loss of 292 million pounds, as business class passenger numbers continued to tumble, dashing hopes air traffic demand was recovering from the slump caused by the downturn.

The national union representing flight attendants wants Congress to ban in-flight phone calls, and survey after survey of airline passengers shows strong opposition to allowing cellphones on planes.

Lloyds Bank topped the FTSE 100 Monday, jumping 6.3 percent, with the banking sector in Europe pulling indexes up after reports that CIT Group has worked out a solution to escape bankruptcy.

The airline industry is in the midst of one of its most wrenching summers ever. And the fall and winter may be even worse - unless people start to fly again.

Hundreds of British Airways Staff to Work for Free

Carry your own luggage to the plane, slide one pound ($1.65) into a slot to use the toilet while airborne, pay more charges for fuel, have staff working for free for one month.