MARKETS / FINANCE

China Mobile, the world's largest mobile carrier by subscribers, said on Friday it hoped to soon have lower-cost handsets for its 3G service, as it tries to popularise the service based on a homegrown standard.

Walt Disney Co on Thursday dashed fan speculation that it plans to resurrect the Michael Jackson 3-D film Captain EO in its theme parks, saying the 1986 short movie is dated.

Sales of video game equipment and software in the United States fell 16 percent in August to $908.7 million, research group NPD said on Thursday, the sixth consecutive monthly decline.

Sales of video game equipment and software in the United States fell 16 percent in August to $908.7 million, research group NPD said on Thursday, the sixth consecutive monthly decline.

Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by retail brokerage head James Gorman, signaling the storied bank is embracing stable businesses after losing big on risky ones.

U.S. Treasury Secretary Timothy Geithner said Thursday a strengthening economy means the government can end some of the extraordinary support it put in place for markets and prepare for a slow recovery.

Verizon Communications says it is ready to oppose the sale of the enterprise business unit of Canadian telecom-equipment maker Nortel Networks' to Avaya Inc for $475 million, citing public safety and security concerns.

Contrite U.S. Securities and Exchange Commission officials apologized for bungling five probes that should have uncovered Bernard Madoff's $65 billion fraud and pledged to overhaul the way the agency operates.

With yesterdays Australian unemployment rate coming in on expectations and unchanged at 5.8% local investors took the opportunity to take profit on long AUD positions. Casting some doubt over the figures was the change in seasonally adjusted estimate of full time employment decreased by almost 31k jobs prompting a move lower in the AUD/USD which was trading around 0.8630 at the time of the release.

US TREASURIES powered through resistance today on a buy American which had both US debt and equities rising for this session. The catalyst for the jump in Treasuries was a greater demand at the $ 12 billion auction for US 30 year securities.

General Motors agreed to sell a 55 percent stake in Opel to a group led by Canada's Magna after months of fraught negotiations that had weighed on the European unit and its 50,000 workers.

A key U.S. lawmaker on Thursday expressed concern that much of the eastern part of the United States could be disqualified from broadband grants because of the way remote communities are considered.

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. economic recovery has started and the Fed could stop short of buying the full amount of mortgage-related securities it said it would buy to boost the economy.

Contrite U.S. Securities and Exchange Commission officials apologized for bungling five probes that should have uncovered Bernard Madoff's $65 billion fraud, and its internal watchdog told top regulators to be more aggressive in investigating tips.

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. economic recovery has started and the Fed could stop short of buying the full amount of mortgage-related securities it said it would buy to boost the economy.

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U.S. airlines are coming back into favor with analysts amid more competitive pricing and evidence the global economy is on a recovery path.

The White House Council of Economic Advisers said in a report on Thursday that the $787 billion stimulus package enacted earlier this year had created as many as 1.1 million jobs by the third quarter.

Federal Reserve Vice Chairman Donald Kohn said on Thursday the U.S. central bank was developing tools to remove its extremely loose monetary policy, but this exit would not happen at all soon.

U.S. stocks gained for a fifth straight session on Thursday, their longest string of gains since November, as a bright outlook from consumer product company Procter & Gamble and a successful Treasury bond auction boosted investors' confidence.

After bungling five probes that should have uncovered Bernard Madoff's $65 billion fraud, regulators must learn to aggressively investigate tips and complaints to catch wrongdoers, the U.S. Securities and Exchange Commission's internal watchdog said on Thursday.

Contrite U.S. Securities and Exchange Commission officials apologized for bungling five probes that should have uncovered Bernard Madoff's $65 billion fraud, and its internal watchdog told top regulators to be more aggressive in investigating tips.

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. economic recovery has started and made a plea for central bank independence to assure global markets the U.S. will pursue responsible monetary policies.

U.S. stocks rose for a fifth straight session on Thursday as a brighter outlook from consumer product company Procter & Gamble and a successful Treasury bond auction encouraged investors about an economic recovery.

U.S. Treasury Secretary Timothy Geithner said on Thursday the economy has regained enough strength to allow a shift in strategy from rescue to preparing for future growth.

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. recovery has started and he made a plea for central bank independence to assure global markets the U.S. will pursue responsible monetary policies.

With global oil consumption having decreased relative to year-earlier levels in every quarter since the middle of last year, we have now experienced four consecutive quarterly declines in world oil use, with another decline expected in the current quarter.

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. recovery has started and he made a plea for central bank independence to assure global markets the U.S. will pursue responsible monetary policies.

A key U.S. lawmaker on Thursday expressed concern that much of the eastern part of the United States could be disqualified from broadband grants because of the way remote communities are considered.