The Rev Jesse Jackson has apologised for “regretfully crude” comments he made about White House contender Barack Obama’s speeches in black churches during what he thought was a private conversation.

US stocks finished mostly lower today as a tepid outlook from Microsoft dampened Wall Street’s reaction to a rebound in first-quarter economic growth. The major indexes ended mixed both for the week and for April.

Newly optimistic investors sent stocks sharply higher today, propelling the Dow Jones industrials 112 points higher as new economic data showed strength in manufacturing.

BANK OF AMERICA has agreed to buy FleetBoston Financial Corp for $47 billion in stock, creating the second-biggest US bank and signalling a revival in corporate acquisitions.

A burst of merger activity sent US stocks higher today.