CHINA

European stock indices are losing steam before the opening of the U.S. session as member nations reported less than stellar Gross Domestic Product (GDP) numbers and news of China tightening shook world markets.

Stock index futures fell on Friday after China surprised global markets by increasing banks' reserve requirements, raising worries about the impact of eventual monetary tightening on global growth.

China raised the level of reserves banks must hold for the second time this year on Friday, spooking financial markets on the eve of its New Year holiday by showing it was intent to curb lending and inflation.

Stock index futures fell on Friday after China surprised global markets by increasing banks' reserve requirements, raising worries about the impact of eventual monetary tightening on global growth.

Stock index futures pointed to a mostly lower open for U.S. shares on Friday, following strong gains in the previous session, as a pledge by European leaders to support Greece eased worries about a crisis in the euro zone.

Palm Inc is suspending production of its smartphones for the Chinese New Year, as all of them are made in China, but it will resume operations by the end of the month, a source told Reuters on Thursday.

Stocks rose on Thursday after a pledge by European leaders to support debt-laden Greece eased fears of a broader euro zone crisis and upbeat data from China spurred mining and material stocks.

PepsiCo Inc posted higher-than-expected quarterly sales on Thursday, helped by strong demand in international markets such as India, while soft drink volumes fell in the Americas.

U.S. stocks rose on Thursday after a pledge by European leaders to support debt-laden Greece eased fears of a broader euro zone crisis and upbeat data from China spurred mining and material stocks.

The White House announced on Thursday that President Barack Obama and the Dalai Lama would meet on February 18, despite China's warning that such talks could hurt already-strained Sino-U.S. relations.

Top U.S. executives say their companies are moving out of the defensive position they adopted during the recent worldwide downturn and are aggressively planning to grow, according to the latest semiannual survey by the Business Council.

PepsiCo Inc posted a higher quarterly profit that met Wall Street expectations, helped by brisk sales in international markets such as India, while drinks volumes declined in North America.

Global oil demand will grow by more than previously expected in 2010, the International Energy Agency said on Thursday, with all the growth coming from emerging markets.

Australia urged China to deal transparently with the trials of four Rio Tinto staff accused of bribery and stealing commercial secrets, as the firm's CEO said the Asian country remained a key part of its long-term plans.

PepsiCo Inc said quarterly profit nearly doubled, helped by strong growth in Asia, but drinks volumes declined in North America.

Chinese consumer inflation unexpectedly slowed last month, but a leap in lending and a rise in factory-gate inflation will keep policymakers alert to the risk of credit-fueled overheating in the world's third-largest economy.

American International Group has lined up all the major investment banks to underwrite the public listing of its Asian life insurance unit, in what may be Hong Kong's biggest IPO since 2006, banking sources said.

Sanctions on North Korea will not be removed until Pyongyang returns to disarmament talks and takes serious steps toward scrapping its nuclear arms program, the foreign ministers of South Korea and Japan said on Thursday.

Global miner Rio Tinto reported a 23 percent slide in half-year profit on Thursday, its worst second-half profit in three years, dented by a sharp drop in iron ore prices, but the result beat analysts' forecasts.

Australia urged China to deal quickly and transparently with the trials of four Rio Tinto mining staff accused of bribery and stealing commercial secrets, amid growing investor concern over dealing with Beijing.

The euro rose on Thursday ahead of a key EU summit that could lay the groundwork for a rescue of debt-stricken Greece, while Asian stocks gained for a third day, powered by strong economic data from Australia and China.