BUSINESS

Asian markets were down Friday as more negative outlook by European Central Bank president Mario Draghi and weaker-than-expected US Institute for Supply Management non-manufacturing report weighed on investor sentiments.

China must follow a low-carbon growth path to reduce carbon emissions, which are believed to be highest among several cities in the country, the World Bank said on Thursday.Shanghai, Beijin and Tianjin are amongst the cities accounting for around 70 percent of the world's greenhouse gas emissions which is set to increase as china's population climbs to another 350 million in the next couple of decades, the international financial group said in a report.

Hong Kong's Sun Hung Kai Properties Ltd (0016.HK) said Friday that its former chairman Walter Kwok was arrested Thursday night by the Independent Commission Against Corruption in connection with corruption charges.

The top aftermarket NYSE gainers Thursday were: Dolby Laboratories, Heckmann Corp, Leapfrog Enterprises, Cincinnati Bell, LinkedIn Corp and Active Network. The top aftermarket NYSE losers were: TAL International Group, Proto Labs, Northstar Realty Finance, InvenSense and Assisted Living Concepts Inc.

Asian stock markets declined Friday as weaker-than-expected data on the U.S. services sector and disappointing April retail sales fueled concerns that the recovery in the world's largest economy is slowing.

French bank BNP Paribas SA (BNP.FR) reported Friday 9.6 percent rise in profits in the first quarter from a year ago, boosted by the sale of more than half of its stake in real estate firm Klepierre.

The top after-market NASDAQ gainers Thursday were: Einstein Noah Restaurant Group, Spreadtrum Communications, Sierra Wireless, PowerSecure International and Seanergy Maritime Holdings Corp. The top after-market NASDAQ losers were: Body Central Corp., Anika Therapeutics, QLogic Corporation, Caribou Coffee Company and Pacific Biosciences of California.

During the launch event, Samsung announced all the key features and improvements that could offer its flagship Galaxy S3 smartphone a competitive edge over the rivals. However, the manufacturer didn't reveal the U.S. carriers that would offer the device. A latest report said Sprint will launch the highly anticipated handset later this year.

Depressed theater sales in the U.S. and bullish predictions about China's growing film market are driving big Hollywood directors and major studios to look across the Pacific for growth opportunities.

The latest issues of Xbox Magazine and PSM3 put a real-life face to the characters of some of the most widely-received games in the industry. The magazines list the casts and crews for nine games that players would like to see translated to film.

A senior U.N. official expressed concern over the declining health of two Palestinian prisoners in Israel, who have been on a hunger strike for over two months and are in critical condition.

Thursday's mixed economic reports on the U.S. economy kept a lid on stocks and focused the attention of traders and investors on the end-of-the-week nonfarm payrolls report, causing stocks to retreat and the euro to slide.

Ernst & Young projects that by 2015, money flowing to Africa will reach $150 billion, which will create 350,000 new jobs annually.

Nokia (NYSE: NOK), the ailing Finnish mobile products maker, will add tablets to new smartphones as part of its turnaround, Chairman Jorma Ollila said.

The governor, rejecting the idea that carrying firearms in that environment poses any real danger, insisted that guns are most precious in instances of civil unrest or protests.

The wicked little Juke-R ? the unholy offspring of a Nissan Juke mated to GT-R engine ? can tear up the track at speeds up to 160 mph and recently starred in its own noir themed movie ?Desert Nemesis? as it faced off under the able hand of driver Lucas Ordonez against Dubai racing master Salah Salahuddin?s stable of supercars. And now Nissan says the car will be available to buy ? as least if you?re super-rich.

Edvard Munch's masterpiece The Scream, one of the world's most recognizable works of art, sold for $120 million at Sotheby's on Wednesday, setting a new record as the most expensive piece of art ever sold at auction.

On May 3rd THQ announced that a new expansion for ?Saints Row: The Third? is now in development. Called ?Enter the Dominatrix,? the upcoming DLC will have a release date slated for the fall, according to the Saints Row official website.

Facebook, the 901-million-member social network priced its initial public offering at $35. It could be the biggest-ever IPO.

The European Central Bank made a show of that organization's immense political and economic force Thursday, rattling world markets with news it had not even considered lowering benchmark euro lending rates and, more provocatively, having its top banker lecture European politicians on the eve of what are expected to be decisive election in two European countries.

Florida A&M University drum major Robert Champion was beaten so severely and by so many people that prosecutors say it was difficult to determine exactly who is responsible for his death during a hazing ritual last year.

Temasek Holdings, the Singapore state-owned investment group sold $2.48 billion of shares in Bank of China Ltd. and China Construction Bank Corporation as profit growth in banks is decreasing with tighter controls on lending in the country.

Beginning in November, Spirit Airlines passengers who wait to pay for their carry-on luggage until they arrive at the gate may get sticker shock in the form of a $100 fee ? each way.

At least 34 people have been killed after a group of gunmen armed with explosives and assault rifles opened fire on a cattle market in northeastern Nigeria Wednesday night.

Today, Pepsi reached a deal with Jackson's estate to use the King of Pop's image in their global marketing campaign.

In early March Ubisoft revealed that the next ?Assassin?s Creed? game will take place in New York and Boston during the American Revolution. With a brand new Native American/British protagonist, frontier-based maps, and possible historical cameos, fans have a lot to look forward to with this Oct. 30th release. But artwork posted by Ubisoft takes fans back in time to sneak a peek at the original concepts behind the widely-renowned series.

German car companies won in April as domestic sales rose 2.9 percent, bucking a wider euro zone trend of declining sales, but exports of German-made cars fell substantially last month.

The risk of inflation is keeping the Federal Reserve from doing more to support the U.S. economy, even though the threats to price stability are reasonably contained at present, a Fed official said Thursday.

Bright Food Group Co., the second-largest food company in China, said Thursday it would buy a 60 percent stake in British cereal maker Weetabix Ltd. as it seeks to expand in foreign markets.