COMPANIES

In the IPO boom that has swept through Asia this year, the Hong Kong Stock Exchange emerged as the world's top producer of new, publicly traded companies.

Investor Carl Icahn said on Friday that he bought the first lien bank debt of Trump Entertainment Resorts (TRMPQ.PK) and planned to team up with Beal Bank to present a restructuring plan for the bankrupt casino operator.

In the IPO boom that has swept through Asia this year, the Hong Kong Stock Exchange (HKEx) (0388.HK) emerged as the world's top producer of new, publicly traded companies.

U.S. consumers stepped up their spending in November and grew more optimistic this month, data showed on Friday, raising hopes a self-sustaining economic recovery was starting to unfold.

Microsoft and SAP will voice their concerns at a European Union hearing on Friday over Oracle's plan to buy Sun Microsystems, adding to regulators' skepticism over the deal.

The U.S. apartment vacancy rate is expected to remain high in 2010 and rent growth is not seen to resume until 2011, according to a forecast by CBRE Econometric Advisors.

Boeing Co said on Thursday it has opened the flight-test window for its 787 Dreamliner starting December 15, allaying concerns that the hotly anticipated aircraft -- already two years behind schedule -- will miss its latest target of taking to the skies before year end.

Two Chinese companies struggled to gain a foothold in the U.S. equity markets on Thursday, with one falling as much as 11.1 percent in its first day of trading and another withdrawing its initial offering altogether.

Specialty finance company Ellington Financial LLC pulled its initial public offering on Thursday due to market conditions, according to an underwriter.

U.S. copper futures remained lower into Thursday's close, after setting a fresh two-week low, with a rise in the dollar inspiring more investors to sell and take end-of-year profits, traders said.

Canada's ADF Group Inc (DRX.TO), which makes steel superstructures for building constructions, posted a 78 percent drop in third-quarter profit, hurt by contract delays, but said it has a strong backlog and a healthy cash position.

A U.S. Food and Drug Administration advisory panel on Thursday said it found Gilead Sciences Inc's (GILD.O) aztreonam was an effective new treatment for life-threatening lung infections in cystic fibrosis patients.

William Young is set to become chairman of Biogen Idec Inc's(BIIB.O) board of directors when Bruce Ross steps down from the post on Jan. 1, the biotechnology company announced on Thursday.

Shares in China Longyuan Power Group Corp Ltd (0916.HK), the world's 5th-largest wind power generator, rose 9 percent on their Hong Kong debut though this was less than expected and came after a U.N. body blocked carbon financing for some China wind projects.

French bank Societe Generale (SOGN.PA) said it was close to reaching a definitive deal with rival Dexia (DEXI.BR) over buying Dexia's 20 percent stake in Credit du Nord to give SocGen full control.

European gasoline prices fell on Thursday, pressured by swelling stocks and a lack of export opportunities to the key U.S. market.

Oil and natural gas company Quicksilver Resources Inc (KWK.N) said it will spend $540 million under its 2010 capital program and said this is expected to increase production volumes by more than 20 percent.

Prudential Financial Inc's sale of its stake in a brokerage joint venture is on schedule to close next month and is expected to give its capital position a significant lift, the company said on Thursday.

Less than 5 percent of homeowners whose mortgage payments were cut under an Obama administration aid plan have received a permanent reduction, the Treasury Department said on Thursday.

U.S. fixed home loan rates edged above record lows in the past week, tracking bond yields higher following surprise improvement in November employment, home funding company Freddie Mac (FRE.N)(FRE.P) said on Thursday.

Lenders stung by the financial crisis are still holding back on extending credit, impeding a recovery in the housing market, Federal Reserve Governor Elizabeth Duke said on Thursday.

Prudential Financial Inc's sale of its stake in a brokerage joint venture is on schedule to close next month and is expected to give its capital position a significant lift, the company said on Thursday.

As Chinese banks try to take advantage of an easier regulatory regime to enter the U.S. market, Asian American banks could become natural targets for these big players, analysts say.

Sara Lee Corp (SLE.N) would be wise to split the company to strip out fixed liabilities from recent divestitures and rebase its existing operations, like coffee and baked goods, outside the United States, a former company executive and industry analyst said.

Cliffs Natural Resources (CLF.N) raised its friendly takeover offer for chromite explorer Freewest Resources (FWR.V) for the second time in a week on Thursday in an attempt to triumph over rival bidder Noront Resources (NOT.V).

Wireless tower firm American Tower Corp (AMT.N) is expected to take a controlling stake in India's Essar Telecom Infrastructure in a deal valued at $350-$400 million, the Economic Times reported on Thursday.

Egypt's telecom regulator has delayed by two months the deadline for bids for two restricted licences to supply cable, voice and Internet services, its head said on Thursday.

India may impose a penalty on Reliance Communications Ltd (RLCM.BO) after examining a state audit report that found the No. 2 telecoms firm under-reported revenue for two years, the telecoms minister said on Thursday.

General Electric Co said on Thursday it won a $1.4 billion contract from energy producer Caithness Energy LLC to supply wind turbines for what will eventually be the world's biggest wind farm.