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Oil ends brief rally, dips below $73 in Asia

Global oil prices reversed trends in Asian trade Friday and dropped below $73 a barrel as the market awaits for more clues from US Fed chairman's scheduled speech later today. Light sweet crude for October delivery was seen trading at $72.99 a barrel at 12.00 noon Singapore time while Brent crude was at $74.69 a barrel in London.

IGC again cuts global wheat output estimate

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International Grain Council on Thursday further slashed global wheat output estimate for 2010-11 by 7 m tones to 644m tones. In its latest report, the IGC however said wheat consumption will hit a record despite soaring prices because of a dearth of alternatives in Russia.

Boeing pushes back 787 Dreamliner first delivery

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Boeing Co has pushed back delivery of its first 787 Dreamliner by several weeks due to a delay in the availability of a Rolls-Royce engine which is needed for the final phases of flight testing.
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Japan opens up gallows to media, may spark debate

Japan opened up its gallows for the first time to domestic media on Friday, a move that could spark public debate over executions in a country where a hefty majority supports retaining the death penalty.
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N.Korea tells Carter wants to resume nuclear talks

North Korea's number two leader has told former U.S. President Jimmy Carter that the reclusive state is committed to denuclearising the peninsula and resuming six-way talks, the North's state news agency said on Friday.
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Chavez scoffs at cancer rumours

Venezuela's President Hugo Chavez on Thursday mocked rumours that he was suffering from cancer as wishful thinking by his squalid enemies.
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UK faces new wave of homegrown attacks - report

Britain faces a new wave of attacks from poorly trained but highly motivated homegrown militants, as the al Qaeda threat shifts from big, sophisticated bomb plots to acts by individuals, a report said on Friday.
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Google polishes real-time search, launches site

Google Inc launched a website on Thursday for users who want to sift through news, comments and other information on the Internet in real time, letting them follow conversations on social network hubs such as Facebook and Twitter in one place.
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Stocks tumble as economy and techs weigh

U.S. stocks sagged on Thursday as data that showed weekly initial jobless claims fell more than expected failed to stir enthusiasm about the economy while the world's central bankers met for an annual retreat.
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Stocks slump as economy woes overhang

U.S. stocks sagged on Thursday as data that showed weekly initial jobless claims fell more than expected failed to stir much enthusiasm over the economy.
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Dow falls below 10,000

U.S. stocks sagged on Thursday and the Dow closed below 10,000 a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by Federal Reserve Chairman Ben Bernanke.
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Dow slips below 10,0000

Stocks sagged on Thursday and the Dow closed below 10,000 a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by Federal Reserve Chairman Ben Bernanke.
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U.S. banks lobby Fed on debit card fee limits

The Federal Reserve has begun taking the first steps to crack down on debit-card transaction fees, with the battle between merchants and banks moving from the legislative to the regulatory arena.
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Jobless claims fall but still elevated

New U.S. jobless claims fell more than expected last week but were too high to signal a shift in a weak labor market that is constraining economic growth.
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Gold slips as U.S. jobless claims drop

Gold slipped on Thursday, ending a two-day rise, as U.S. jobless claims declined more than expected, denting bullion's case as a safe-haven investment.
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U.S. soon to end tax case against UBS

UBS moved a step closer to putting its U.S. tax-evasion scandal behind it as U.S. authorities said they will soon close a tax fraud case that threatened to bring the banking giant to its knees.
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Wall St edges lower on economic woes

U.S. stocks edged lower on Thursday as persistent concerns about the economy offset data showing U.S. weekly jobless claims fell more than expected.
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Wireless competition, prices fall: report

Wireless phone customers have enjoyed lower prices and better coverage despite reduced competition from years of consolidation in the $150 billion industry, a U.S. report said on Thursday.
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Jobless claims fall, but still elevated

New U.S. jobless claims fell more than expected last week but were too high to signal a shift in a weak labor market that is constraining economic growth.
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U.S. to end tax case soon against UBS

U.S. authorities said on Thursday they would soon bring to a close the tax fraud case against UBS , which had threatened to bring the Swiss banking giant to its knees.
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FDA ties chicken feed to salmonella in egg recall

Chicken feed contaminated with salmonella bacteria could have caused the outbreak at two Iowa producers that sparked a recall of more than a half billion contaminated eggs last week, U.S. regulators said on Thursday.
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Is hospital-in-a-box the way to better healthcare?

Jon Weiner's hospitals are a far cry from what you might be used to. There are no lengthy admissions forms to fill in. And the service you get might remind you of a five-star hotel. The cost? No more than any other hospital. The catch? They are all overseas.

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