Stocks were set for a lower open on Friday after sales at U.S. retailers unexpectedly fell in May, stirring fears the economic recovery was losing some steam.
The advisory panel also recommended post-marketing collection of additional safety data and evaluation of a lower dose
Sales at U.S. retailers unexpectedly fell in May for the first time since September, pulled down by a record slump in purchases of building materials, according to a government report on Friday that added to fears the economic recovery was losing some steam.
Banks are to get more time to implement new capital rules and some proposals will be eased to ensure the industry can adjust to the new standards, a top central banker and regulator said, lifting the sector on Friday.
Gold rebounded on short
covering on Friday after falling around 1 percent in the
previous session, while a rise in ETF holdings to another
record showed bullion still attracted buying from investors.
The European Union should have stepped in earlier than it did with a rescue package for Greece, European Central Bank board member Nout Wellink said on Friday.
Workers at a lock factory in southern China that supplies Honda Motor Co challenged managers on Friday, demanding higher pay and freedom to form independent unions, banned in the export powerhouse.
Like the risk-on, risk-off volatility that has buffeted global markets this year, China's currency policy has been subjected to bouts of pressure and criticism from abroad interspersed with periods of calm.
Oil prices fell to near $75 a barrel on Friday after gaining about 5 percent this week as investors weighed prospects that the European debt crisis could slow fuel demand growth even in emerging markets such as China.
We expect the strong export numbers in May to increase international pressure on the currency issue. On the other hand, the weakened euro and domestic wage pressures are likely to limit the size of any appreciation in the near term.
The euro was supported on Friday on the back of higher stocks, but the single currency struggled to extend its short-covering rally versus the dollar ahead of technical resistance, while options barriers also capped gains.
One of the best ways to get inside the head of British private equity boss Guy Hands is to study what gift he gives for Christmas. For years, Hands has sent friends and business associates a book he has recently read along with a letter discussing the work. The gift is designed to be both thoughtful and thought provoking.
Stock index futures pointed to a slightly higher open on Wall Street on Friday following the previous session's strong gains, with futures for the S&P 500 up 0.24 percent, Dow Jones futures up 0.19 percent and Nasdaq 100 futures up 0.15 percent at 0944 GMT.
Treasury Secretary Timothy Geithner indicated U.S. patience on China's currency policy was wearing thin on Thursday as a key lawmaker warned that he would move soon on legislation that would penalize Chinese goods.
Asian stocks rose for a fourth day on Friday on optimism that the world economic recovery was on track despite Europe's debt woes, while the euro was steady after a rally the previous day.
Gold recovers marginally in Asian trade Friday after an overnight drop of nearly one percent while ETF holdings rose to another record. Gold for immediate delivery was seen trading at $1219.54 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1221.81 an ounce.
Chrysler is generating the cash needed to rebuild its product portfolio as sales continue to gain momentum, Chief Executive Sergio Marchionne told employees on Friday.
Japan will pledge to cap new bond issuance next fiscal year at the record sum earmarked for this year, National Strategy Minister Satoshi Arai said, as the new government struggles to convince markets of its resolve to fix the country's tattered finances.
Chinese inflation quickened to a 19-month high in May, but a moderation of growth in factory production and capital spending could further ease worries that the world's third-largest economy runs the risk of boiling over.
U.S. regulators will most likely find that a confluence of events caused the unprecedented stock market flash crash in early May, Securities and Exchange Commission Chairman Mary Schapiro said on Thursday.
Kenneth Starr, an investment adviser to celebrities and other wealthy New Yorkers, defrauded clients of at least $59 million over the last five years, according to a U.S. grand jury indictment on Thursday.
The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers, including those of several high-ranking government officials.
