MARKETS / FINANCE

Dallas Federal Reserve Bank President Richard Fisher on Thursday gave a muted outlook for the U.S. economy, saying a long period of slow growth lies ahead even when the recession ends.

California Controller John Chiang's office said on Thursday it had issued the last of its IOUs, which were intended to allow the state government to preserve its dwindling cash during its recent budget crisis.

The two main U.S. regulators policing the securities and futures markets were urged on Thursday to align their rules for ferreting out fraud, protecting investors and punishing wrongdoers.

The U.S. government plans to accelerate the pace of processing up to $3 billion in cash for clunkers reimbursements to auto dealers and hopes to complete the job by month's end, officials said on Thursday.

An investigative panel in the U.S. Congress will hold hearings on the failure of the U.S. Securities and Exchange Commission to follow clues that could have uncovered Bernard Madoff's $65 billion Ponzi scheme.

US TREASURIES pulled back on Thursday. Pressure from covering of recent long positions, announcements of next week's Treasury auctions and an apparent stabilization of equity prices ahead of Friday's reports on US payrolls prompted many with long positions to cover ahead of the long weekend.

Google Inc should develop a privacy policy for its plan to digitize millions of books that limits use of consumer data, the Federal Trade Commission said in a letter to the company.

The Australian Dollar opens higher on Friday just shy of US84 cents as recent positive economic data bolsters sentiment. During Thursday's local session, the Australian Bureau of Statistics announced that the trade deficit for July widened by A$1bio to a larger than expected A$1.556bio. Imports were up by 4 per cent which the market interpreted as showing businesses and consumers were doing well and defying international trends. Also underpinning the local unit was a steady session on local equi...

The contraction in the U.S. services sector eased last month, with a gauge of activity hitting its highest point in nearly a year, a further suggestion that a modest economic recovery was under way.

U.S. stocks rose on Thursday, snapping a four-day losing streak, after stronger-than-expected retail sales data eased concerns about the economy before Friday's important jobs data.

G20 countries need to pre-plan for withdrawal of the monetary and fiscal stimulus that is fuelling global economic recovery but should not move on either front for much of the next year, the OECD's chief economist says.

U.S. home prices are nearing the end of a three-year slump and should rise in 2010, though the overall economy can rebound even if the housing market does not, according to a Reuters poll.

U.S. stocks were little changed on Thursday, with investors divided between hopes of recovery after stronger-than-expected retail sales and worries about the economy before Friday's key jobs report.

The U.S. manufacturing sector's return to expansion should be music to equity investors' ears, but bankers say past experience as well as the circumstances of the current rebound suggest a good deal of caution is warranted.

The two main U.S. regulators policing the securities and futures markets were urged on Thursday to align their rules for ferreting out fraud, protecting investors and punishing wrongdoers.

Oil prices steadied on Thursday as economic optimism from data showing that the U.S. service sector and retail sales improved was tempered by disappointing news from the labor market.

The U.S. Securities and Exchange Commission, criticized this week for failing to detect the Bernard Madoff's $65 billion Ponzi scam, needs more money and a new way of getting it, said a key lawmaker on Thursday.

The contraction in the U.S. services sector eased last month, with a gauge of activity hitting its highest point in nearly a year, a further suggestion that a modest economic recovery was under way.

Stocks rose slightly on Thursday as investors focused on stronger-than-expected sales by key retailers in August, offsetting weak labor-market data.

New applications for jobless benefits in the United States fell last week, while activity in the services sector was at its strongest in nearly a year in August, suggesting a modest recovery from recession had started.

Sony's Walkman digital music player outsold the Apple iPod in Japan last week - the first that has happened in more than four years, according to Bloomberg, citing data from Tokyo-based research firm BCN.

The U.S. services sector shrank again in August, but an index measuring activity was at its highest in nearly a year, according to an industry report released on Thursday.

Stocks edged higher on Thursday as better than-expected-sales from key retailers in August offset continued weakness in the labor market.

Online video site YouTube is in talks with several major movie studios about renting movies to users by streaming the movies over the Internet according to a person familiar with the talks on Wednesday.

The number of U.S. workers filing new claims for jobless benefits fell last week, but the prior period's figure was revised up, according to a government report on Thursday that highlighted the fragility of the labor market.

The global recession is coming to an end faster than thought a few months ago and may already be over, but recovery will rely on massive government spending and low interest rates for some time, the OECD said on Thursday.

Some members of insurer AIG's board are concerned about recent strong comments from their new chief executive Robert Benmosche, the Wall Street Journal said on Wednesday citing people familiar with the matter.

Thursday, UK's Financial Services Authority Chairman Adair Turner backed proposals to make banks plan for their own collapse.

Oil prices rose toward $69 a barrel on Thursday, drawing support from a sharp fall in U.S. gasoline inventories that revived hopes of a demand recovery in the world's largest fuel consumer.