UNITED STATES

The dollar rose on Thursday, erasing earlier losses against the euro after a gauge of activity in the U.S. services sector beat forecasts for the month of June.

Toyota and Ford, two of the world's three largest auto makers, reported strong first-half sales in China's fast-growing market, where as relative newcomers they are competing to roll out new models to attract customers.

Stocks fell on Thursday as rising bond yields fueled concern about a $20 billion buyout of Hilton Hotels Corp. General Motors Corp. dragged on the Dow. The largest U.S. automaker's shares fell after a steeper-than-expected drop in U.S. sales in June. On Thursday, Bear Stearns cut its recommendation on General Motors' stock.

Oil surged to another 10-month high above $74 a barrel on Thursday ahead of U.S. data that is expected to show refiners are processing more crude to meet robust summer gasoline demand in the world's top consumer.

Australian fund manager Caledonia (Private) Investments Pty. Ltd. said on Thursday it would vote against Chicago Mercantile Exchange Holdings Inc.'s US$10.5 billion offer to buy CBOT Holdings Inc.

The euro hit a record high versus the low-yielding yen on Thursday, boosted by expectations that the European Central Bank will keep interest rates on hold later in the session but pave the way for a rise in the coming months.

Shares of Apple Inc. rose more than 4 percent to an all-time high on Thursday as investors bet on strong demand for its media-playing iPhone and speculation mounted over plans to sell the device in Europe.

A deal could be off, as the U.S. stepped up criticism of India and Brazil over failed talks

Gold was little changed on Thursday as traders adjusted positions following gains this week, with precious metals in general supported by lingering security concerns and strength in energy prices.

German software maker SAP AG (NYSE: SAP) said on Tuesday that one of its units had made “inappropriate” downloads, as the company formally responds in a court filing to a lawsuit by U.S. rival Oracle Corp. (Nasdaq: ORCL).

French food giant Groupe Danone said on Tuesday that it is in exclusive talks to sell its global cookie business to U.S. rival Kraft Foods, Inc. (NYSE: KFT) for $7.2 billion in cash.

Organizers want to set a new standard for recycling mountains of trash and gases generated by the events.

BMW, the world's largest premium carmaker, and its closest rival, Mercedes-Benz, are in negotiations over a partnership to build subcompact cars, German motor magazine Auto Bild reported.

The Canadian dollar was higher versus the greenback on Wednesday, supported by strong commodity prices in a quiet session marked by a lack of domestic data and with U.S. markets closed for the Independence Day holiday.

Mexican stocks rose in light trading on Wednesday, driven by gains in leading retailer Wal-Mart de Mexico and cell phone operator America Movil.

Gold edged higher on Wednesday to trade just above a key level of $650 an ounce, but business was very low key because of a holiday in the United States.

Hong Kong property firm Chinese Estates Holdings Ltd. is in talks with investors on a possible buyout of the firm, valued at more than US$4 billion, sending its shares up as much as 30 percent to a record high.

Oil edged down on Wednesday from a 10-month high above $73 a barrel, though analysts expected the rally to resume due to low U.S. fuel inventories and expectations of strong gasoline demand.

World stocks surged to another lifetime peak on Wednesday as robust economic growth and flourishing corporate takeover activity helped to ease concerns about the prospect of higher borrowing costs.

U.S. private equity firm Blackstone Group agreed on Tuesday to buy Hilton Hotels Corp. for about $20 billion plus debt, the richest in a series of recent private equity offers for hotel companies.

Sterling jumped to a 26-year high versus the dollar for a third day on Wednesday, vaulting $2.02 and showing no signs of vertigo so far against a broadly weak dollar that stayed near record lows versus the euro.