Moody's Financial Services downgraded Countrywide Financial Corp.'s bank to a "D" rating late Thursday, according to a Marketwatch report. (CFC)

With the concerns of rising gas prices and the environmental impact of auto emissions, fuel efficiency is a key concern for those in the market for new cars.

Diodes Inc. has agreed to buy British chip maker Zetex Plc. for about $176.3 million in cash.

Gasoline prices are once again breaking records, as they are on the rise again across Southern California, according to the Automobile Club of Southern California's Weekend Gas Watch.

Fox Interactive Media is seeing a shakeup in its management structure, with Chief Revenue Officer Michael Barrett leaving the company and appointing Adam Bain to head up a new division based around the company's advertising technology. (NWS)

Live Nation is on the verge of signing another big name in music to a comprehensive recording, merchandising and touring deal, as The New York Times is reporting that rap superstar and recording mogul Jay-Z is negotiating a deal worth

Liberty Media Corp. upped its ownership stake in satellite broadcaster DirecTV Group Inc. on Thursday, increasing its holdings from to 48 percent from 41 percent. (DTV) (LMDIA)

Thanks to a unique carriage agreement between NBC Universal and DirecTV, the vocal fanbase of the critically acclaimed, yet lightly watched, "Friday Night Lights" will get a third season of the show. (DTV)

Emeryville's Gracenote Inc. has begun providing its lyrics library to MetroLeap Media Inc.'s music Web site MetroLyrics.com, Gracenote announced Thursday.

MySpace is branching out into the music industry through a partnership with Sony BMG, Warner Music Group and Universal Music Group. (NWS)

Chevron Corp. signed a five-year deal with the Tiger Woods Foundation that enables the company to become the title sponsor of the foundation's World Challenge Golf Tournament, an annual fundraiser in Thousand Oaks. (CVX)

Bank of America Corp. has received a patent for technology it will market to its corporate clients. (BAC)