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By Tony Jimenez VIRGINIA WATER, England (Reuters) - Francesco Molinari flourished while five of his European Ryder Cup team mates fell flat on their faces as the Italian grabbed the lead after the PGA Championship second round on Friday. Luke Donald, the 2011 and 2012 winner, Rory McIlroy, Ian Poulter, Graeme McDowell and Paul Lawrie all missed the halfway cut after struggling in cold, dank conditions at the European Tour's flagship event. ...

By Angela Moon NEW YORK (Reuters) - The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. Still, the indexes closed well off their lows in light volume ahead of the three-day Memorial Day holiday weekend. The Dow ended slightly higher, outperforming the broader market, buoyed by a 4 percent gain in Procter & Gamble . ...

By Jeff Mason ANNAPOLIS, Maryland (Reuters) - President Barack Obama urged the future leaders of the U.S. military on Friday to stamp out sexual assault from their ranks, warning that a few individuals could undermine the strongest military in the world. Addressing the graduating class of the U.S. Naval Academy, Obama used his commencement speech to take on a problem that has dogged the Pentagon and the White House in recent weeks. ...

By Alan Baldwin MONACO (Reuters) - AirAsia , which smashed order records for Airbus jets to become Asia's largest budget carrier, could buy another 50 planes as it targets aggressive expansion in India, Chief Executive Tony Fernandes said. Discussion of an order for another 50 A320-family jets, worth $5 billion at list prices, comes weeks ahead of the Paris air show and five months after the Malaysian carrier added 100 jets to its order book to lift total purchases to 475 planes. ...

By Chris Francescani NEW YORK (Reuters) - American actress Amanda Bynes appeared in court on Friday and denied charges of possessing marijuana and tossing a bong out of the window of her 36th-floor Manhattan apartment. The former Nickelodeon child star, who appeared in court dressed in gray sweatpants, a long-sleeved black shirt and a disheveled platinum blonde wig, was released on her own recognizance after spending a night in jail after her arrest on Thursday. ...

REUTERS - Caretaker manager Gary Bowyer has been rewarded for keeping Blackburn Rovers in the English Championship (second tier) by being giving the job permanently on a one-year rolling contract. "It is a huge honour and a proud moment for me," the 41-year-old said in a statement on Friday. "I have been at the club for nine years, I know the traditions. The foundation of the club was built on hard work and that is what we need to produce. ...

By Ronald Grover and Greg Roumeliotis LOS ANGELES/NEW YORK (Reuters) - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co , two sources with knowledge of the bid told Reuters on Friday. Yahoo just this week announced a $1.1 billion acquisition of blogging service Tumblr. It now joins rival bidders for Hulu, including Time Warner Cable Inc , DirecTV , former News Corp president Peter Chernin and Guggenheim Digital Media, sources have said. It is unclear how much the Internet company bid. ...

By Karolos Grohmann LONDON (Reuters) - Bayern Munich are unfazed by the need to be more clinical in attack against Borussia Dortmund on Saturday and avoid another Champions League final defeat having lost the showpiece match twice in the past three years. Midfielder Thomas Mueller, who at 23 will be in his third final after losing in 2010 and 2012, said his team mates were not panicking because experience had taught them the key to winning the all-German final at Wembley. ...

By Terry Daley ROME (Reuters) - Inter Milan appointed former Napoli boss Walter Mazzarri as their new coach on Friday after sacking Andrea Stramaccioni following a disappointing ninth-place finish in Serie A. The 2010 Champions League winners have suffered a series of blows and gone through five coaches since their unprecedented treble under Jose Mourinho. "FC Internazionale would like to thank Andrea Stramaccioni for the great commitment and professionalism he showed in a particularly difficult year. Walter Mazzarri has signed a two-year deal, " the club said on their website (www.inter.it). ...

ROME (Reuters) - Napoli president Aurelio De Laurentiis has denied media reports earlier on Friday that he had named former Chelsea and Liverpool manager Rafael Benitez as the new Napoli manager. "I've closed the deal for a new manager but I can't officially announce it until I receive the go-ahead from the other club with which he is under contract until June 30," he was quoted as saying by Sky Italia. ...

REUTERS - Canadian oil and natural gas producer Niko Resources Ltd said on Friday it made a significant gas discovery, along with its partners, in the KG-D6 block off India's east coast, sending its shares up 26 percent. Niko, which partners India's Reliance Industries Ltd and BP Plc , said the discovery is expected to add to the gas resources in the block, without revealing potential reserves. "It is a significant discovery in the sense that out of a half-inch choke you have got 2,000 barrels a day and over 30 million cubic feet a day of gas flowing ... ...

By Tony Jimenez VIRGINIA WATER, England (Reuters) - Nicolas Colsaerts has experienced something of a comedown since helping Europe win the Ryder Cup in September and the big-hitting Belgian is looking for his game to ignite some time soon. The 30-year-old, dubbed 'The Dude' by his team mates after making a stylish debut in the biennial event last year, looked typically cool and dapper after moving into contention with a second-round 70 at the PGA Championship. ...

By Mike Collett LONDON (Reuters) - UEFA president Michel Platini repeated his call for soccer to win the battle over the evils affecting the game on an historic day for Gibraltar who were delighted at becoming European soccer's newest member on Friday. UEFA also responded to demands from its top clubs by awarding a Champions League place to the Europa League winners, while delegates at the annual Congress of European soccer's governing body unanimously approved a resolution introducing tough new measures to fight racism. ...

Sharjah, May 25 (IANS/WAM) Air Arabia, the largest low-cost carrier in the Middle East, has launched a flight to Abha in Saudi Arabia from the airlines' main hub in Sharjah.

Los Angeles, May 25 (IANS) Singer Beyonce Knowles has created her own fashion range named Beyonce Boutique for a fashion rental website.

Los Angeles, May 25 (IANS) Actor David Hasselhoff, 60, has bought himself a new mansion for as much as $1.95 million.

Kolkata, May 25 (IANS) Despite having gone down to the Mumbai Indians in a nerve-wracking IPL playoff, Rajasthan Royals skipper Rahul Dravid lauded his teammates for splendidly rising up to challenges both on and off the field, and said it has been a "pleasure to lead this team".

Kolkata, May 25 (IANS) Notwithstanding a blistering Dwayne Smith knock, Mumbai Indians stuttered to a four-wicket victory over Rajasthan Royals in a nail-biting Indian Premier League (IPL) playoff to enter the finals.

Kolkata, May 25 (IANS) Mumbai Indians overcame middle over hiccups to carve out a thrilling four-wicket win over Rajasthan Royals off the penultimate ball to move into the Indian Premier League final here Friday.

Mumbai, May 25 (IANS) Mumbai police late Friday night arrested Gurunath Meiyappan, son-in-law of Indian cricket board chief N. Srinivasan, in the IPL spot fixing scam after three hours of intense interrogation, an official said.

Kolkata, May 25 (IANS) Scoreboard of the Indian Premier League (IPL) match between Mumbai Indians and Rajasthan Royals at the Eden Gardens here Friday.

Kolkata, May 25 (IANS) Mumbai Indians qualified for the final of the Indian Premier League (IPL) with a four-wicket win over Rajasthan Royals in the second qualifier at the Eden Gardens here Friday.

Hyderabad/Mumbai/New Delhi, May 25 (IANS) The clamour for Indian cricket board president Narayanswamy Srinivasan's resignation got louder after his son-in-law Gurunath Meiyappan, Chennai Super Kings chief executive, Friday was interrogated by Mumbai police in the IPL spot fixing scandal and later arrested.

London, May 25 (IANS) Veteran actress Helen Mirren has urged people to back a military support charity after a soldier was brutally murdered on London streets.

Los Angeles, May 25 (IANS) Singer Katy Perry, who has been single since splitting from John Mayer earlier this year, is said to have struck up a romance with her agent Michael Kives.

Kolkata, May 24 (IANS) Biscuit and bakery major BritanniaIndustries Friday registered a 65.66 percent jump in its net profit to Rs.87.85 crore for the quarter ended March 31, 2013, from Rs. 53.03 crore during the same period last year.