ECONOMY & MARKETS

Asian markets were down Friday as more negative outlook by European Central Bank president Mario Draghi and weaker-than-expected US Institute for Supply Management non-manufacturing report weighed on investor sentiments.

Hong Kong's Sun Hung Kai Properties Ltd (0016.HK) said Friday that its former chairman Walter Kwok was arrested Thursday night by the Independent Commission Against Corruption in connection with corruption charges.

The top aftermarket NYSE gainers Thursday were: Dolby Laboratories, Heckmann Corp, Leapfrog Enterprises, Cincinnati Bell, LinkedIn Corp and Active Network. The top aftermarket NYSE losers were: TAL International Group, Proto Labs, Northstar Realty Finance, InvenSense and Assisted Living Concepts Inc.

Asian stock markets declined Friday as weaker-than-expected data on the U.S. services sector and disappointing April retail sales fueled concerns that the recovery in the world's largest economy is slowing.

French bank BNP Paribas SA (BNP.FR) reported Friday 9.6 percent rise in profits in the first quarter from a year ago, boosted by the sale of more than half of its stake in real estate firm Klepierre.

Thursday's mixed economic reports on the U.S. economy kept a lid on stocks and focused the attention of traders and investors on the end-of-the-week nonfarm payrolls report, causing stocks to retreat and the euro to slide.

The European Central Bank made a show of that organization's immense political and economic force Thursday, rattling world markets with news it had not even considered lowering benchmark euro lending rates and, more provocatively, having its top banker lecture European politicians on the eve of what are expected to be decisive election in two European countries.

German car companies won in April as domestic sales rose 2.9 percent, bucking a wider euro zone trend of declining sales, but exports of German-made cars fell substantially last month.

The risk of inflation is keeping the Federal Reserve from doing more to support the U.S. economy, even though the threats to price stability are reasonably contained at present, a Fed official said Thursday.

Bright Food Group Co., the second-largest food company in China, said Thursday it would buy a 60 percent stake in British cereal maker Weetabix Ltd. as it seeks to expand in foreign markets.

U.S. 30-year fixed-rate mortgages fell to a new record low of 3.84 percent in the week ending May 2, following subdued economic data, mortgage financier Freddie Mac said Thursday.

The 50th annual National Day of Prayer is upon us, and President Barack Obama has asked the U.S. faithful to collectively summon their religious zeal, praying for the greater good of the nation and the world. Here are five things that may slip your mind when asking for the benevolence of your Lord.

European Union finance ministers failed Thursday to hammer out new global banking regulations, highlighting the resistance regulators on both sides of the Atlantic face as they push for tougher banking rules to ensure banks won't spark another great recession, as they did in 2008.

U.S. markets went into a sustained slide after a private data release suggested growth in the services sectors was slowing down considerably.

Asia is doubling the size of its foreign currency reserve safety net to $240 billion, finance ministers and central bank officials announced Thursday following a 13-nation meeting in Manila. The reserve funds a multilateral currency swap agreement aimed at protecting Asian markets from global economic crises.

Nonfarm productivity fell in the first quarter as companies hired more workers to maintain output, but a moderate rise in wages suggested little pressure on company profits and inflation.

Fewer Americans than expected filed for jobless benefits last week, which came as a welcoming relief as investors held their breath and waited for Friday's jobs report numbers to come out.

The European Central Bank held its main interest rate at 1.0 percent on Thursday as stubborn inflation offset pressure to loosen borrowing costs further to support the weak eurozone economy.

The companies whose shares are moving in pre-market trade Thursday are: Transocean, Whole Foods Market, Smith & Nephew, Salesforce.com, Intel Corp, Green Mountain Coffee Roasters, Delhaize Group, Novatel Wireless, Skullcandy, Limited Brands and Safeway Inc.

Asian stocks fell Thursday as weak economic data from the Eurozone and the US raised concerns over the strength of global economic recovery.

Futures on major U.S. indices point to a higher opening on Thursday ahead of economic data including weekly jobless claims.

Asian stock markets declined on Thursday as weaker-than-expected economic reports from the US and Europe dampened investor sentiment.

BMW, the world?s largest maker of luxury vehicles, reported Thursday 19 percent rise in earnings in first quarter compared to the same period last year.

Scott Forstall, The Apple senior vice president of iOS software, just scored a $38.7 million payday, according to an SEC filing cited by Fortune Magazine. Forstall, 42, recently cashed in over 64,000 company shares, which netted him close to $40 million.

A disappointing ADP Employer Services jobs report issued Wednesday, which showed a still-sluggish U.S. job market, drove U.S. and European markets down and signaled that a key report on employment at the end of the week could be grim.

Hiring in the U.S. probably picked up somewhat in April after a disappointing showing in March renewed fears of another spring slump in the labor market, economists said in anticipation of the April non-farm payroll report due Friday.

Sanduk Ruit and his team of doctors at the center have developed a simple surgical technique to remove cataracts involving little equipment and instruments that can be used manually. No stitches are needed, and the technique can be used on a simple table in field camps.

Dragged down by a precipitous slump in demand for civilian aircraft, U.S. factory orders dropped at the highest rate in three years during March, data released by the Commerce Department Wednesday morning showed.

Euro zone manufacturing shrank at the sharpest level in nearly three years, sending the euro falling against the dollar and raising more concerns for the region.