BUSINESS

U.S. stock index futures point to a higher open Friday, but investors are expected to remain watchful amid weak data across the globe following the downgrading of 15 global banks by ratings agency Moody's on Thursday.

Asian stock markets declined Friday, following a slump in the Wall Street overnight, as weak manufacturing reports from Europe, China and the U.S. dampened hopes for a global economic recovery.

China and Brazil finalized an agreement on Thursday to exchange national currencies worth up to $30 billion as part of bilateral efforts to shore up reserves in times of crisis.

European markets fell Friday as concerns about the economic slowdown were revived after data from the euro zone was disappointing and 15 global banks were downgraded by Moody's Investor Service.

Crude oil prices slightly advanced in Asian trading Friday, after plunging to their lowest level in eight months in the previous session.

The Indian rupee continued its downward slide for the fifth consecutive day Friday to set the record low of 57.23 against the U.S. dollar in afternoon trading.

The top after-market Nasdaq gainers Thursday were Metabolix, Inc, Interval Leisure Group, Inc, Crosstex Energy, Inc, BioMimetic Therapeutics, Inc and Gevo, Inc. The top after-market Nasdaq losers were: Verisk Analytics, Inc, James River Coal Company, Amyris, Inc, Incyte Corporation and Netlist, Inc.

Most Asian markets fell Friday due to investor concerns following indications of a faltering U.S. economy and the downgrading of global banks by Moody's Investor Service.

The top after-market NYSE gainers Thursday were: Harvest Natural Resources, McEwen Mining, BRF-Brasil Foods, AVX Corp and Parker Drilling. The top after-market NYSE losers were: Ryder System, Associated Estates Realty, Main Street Capital, Renren and Wesco Aircraft Holdings.

Asian shares fell Friday and the safe-haven dollar hovered near its highest in a week-and-a-half after weak manufacturing data from the United States, Europe and China heightened fears over the outlook for global growth.

Although it seems that some gadgets in the Android world have just been acquainted with Ice Cream Sandwich, there?s another upgrade in the works. The Google Play store has revealed that Jelly Bean, or Android 4.1, will roll out soon for Galaxy Nexus devices.

Apple's shining white façade is picking up grime in the year after the death of genius CEO Steve Jobs. Recent weeks have brought a marketing gaffe at the World Wide Developers Conference and accusations of racial profiling against Iranian-Americans and Farsi speakers by Apple Store employees.

Moody's Investors Service downgraded 15 global financial institutions Thursday, including five of the largest U.S. banks, nine major European banks and the Royal Bank of Canada (NYSE: RY), a move that could tighten borrowing and require the companies to post billions of additional collateral.

Markets are losing the power to ride high after positive political developments, a worrying trend that might rain chaos on the best laid plans of central bankers and politicians looking to buy time to solve the financial crisis in Europe with grandiose statements.

The latest blockbuster involves Jerry Sandusky's adopted son.

The Dating Game killer Rodney Alcala, already on death row in California for the murders of four women and a 12-year-old girl, pleaded not guilty Thursday to murder charges in New York, where he's a suspect in the killings of two women during the 1970s.

Nissan Motor Company (Tokyo: 7201) CEO Carlos Ghosn may step down before the start of the company's next mid-term business plan begins in five years, according to Bloomberg News Thursday.

A hacker group has claimed full responsibility for Twitter's worldwide outage on Thursday, saying they attacked the site because of its support of the Cyber Intelligence Sharing and Protection Act (CISPA), CBS reported.

Dell (Nasdaq: DELL), the No. 3 PC maker, seeking to battle Oracle (Nasdaq: ORCL), the No. 1 database developer, may have been stymied in its efforts to acquire Quest Software (Nasdaq: QFST).

Arsalan was acused of having received 342 million Pakistani rupees ($3.6 million) from real estate magnate Malik Riaz Hussain in order to influence cases in the court.

Dell (Nasdaq: DELL), the No. 3 PC maker, became the 20th company to withdraw from from the American Legislative Exchange Council, a Washington, D.C.-based group that lobbies for conservative laws in state legislatures.

The National Iranian American Council joined the Council of American-Islamic Relations in denouncing Apple Inc. (Nasdaq: AAPL) and asserted that Apple Store employees who have refused to sell iPads and other products to customers speaking Farsi, the language of Iran, have been clearly engaging in racial profiling.

On June 20 Microsoft officially unveiled its Windows Phone 8, which will be closely tied to its upcoming Windows 8 operating system. The new mobile device is expected to launch this fall along with the new Windows software for tablets and PCs.

Uruguay's government may begin selling marijuana if a bill proposing the tactic as a means to fight crime passes the legislature

Natalee Holloway's mother has filed a lawsuit against The National Enquirer that claims the tabloid published untrue stories to profit from her daughter's 2005 disappearance in Aruba. According to the Associated Press, the lawsuit filed by Beth Holloway on Wednesday, June 20, claims that the magazine and its publisher, American Media Inc., published false headlines, articles and statements for nearly seven years.

Lanai, Hawaii, was once known as the pineapple capital of the world. Then the pineapple plantations became four-star resorts. What's next? That's up to the new owner: American billionaire Larry Ellison.

A new technology allows for musicians to create music in real time.

Spain's banks would need between 51 billion and 62 billion euros ($64-78 billion) in extra capital to weather a serious downturn of the economy and new losses on their books, two independent audits of the sector showed on Thursday.

The Council of American-Islamic Relations (CAIR) says it's talking to Apple (Nasdaq: AAPL) about an official response to reports employees have been refusing to sell iPads and products to customers speaking Farsi, the Iranian national language.