MARKETS / FINANCE

U.S. nonfarm payrolls likely rose at their fastest pace in nearly 27 years in May as the government ramped up hiring for the census and businesses grew more optimistic about the economy, a Reuters survey showed.

Leading policymakers expressed concern on Friday about the health of the world economy even as they closed ranks behind the euro zone's efforts to tackle a debt crisis that has rattled global markets.

Stocks edged up on Friday, with investors anticipating a strong reading for a key employment report due out later in the day, which could provide an indication of the pace of recovery in the world's largest economy.

World stocks hovered just off two-week highs on Friday and the dollar clung to recent gains ahead of U.S. jobs data that is widely expected to show recovery is gathering pace in the world's largest economy.

Investors will scour a preliminary prospectus for Agricultural Bank of China's around $30 billion IPO, the world's largest, for updates on its book value and bad loans.

After realized that the devastated Gulf of Mexico oil spill is the worst ever environmental disaster affecting the country, the US said they would keep billing the oil giant BP for all associated costs for the clean up operations. British energy giant told to pay $69 million bill and demanded prompt payment for the first instalment of government expenses incurred in the effort.

World's largest gold refiner, South Africa's Rand Refinery said production of country's Krugerrand gold coins soared by 50 percent in a week as the euro zone debt crisis drove up investor demand. In a statement issued here, Rand Refinery said production of the world's most popular gold coin rose to 30 000 ounces a week.

The dollar steadied on Friday and Asian stocks slipped on profit taking ahead of a report expected to show the highest U.S. jobs growth since 1983, supporting this week's wary move back into riskier assets.

Global oil prices eased in Asian trade Friday despite reports of bigger-than-expected decline in US gasoline inventories and stronger demand. Light sweet crude for July delivery was seen trading at $74.32 a barrel at 11.00 a.m Singapore time while Brent crude was at $75.25 a barrel in London.

Every investor is these days tracking the movement of the hottest commodity--gold. But renowned global commodities investor Jim Rogers says the hottest commodity around now is sugar. Saying that agricultural commodities are set for a big bull run, Rogers said that turmoil in currencies is turning people to commodities.

The U.S. dollar and Asian stocks held on to recent gains on Friday ahead of a report expected to show the highest U.S. jobs growth since 1983, supporting a cautious shift back into riskier assets this week.

G20 finance ministers and central bankers will endorse efforts to douse the euro zone's debt crisis but are far apart on the contentious issue of a global bank levy, a senior South Korean official said on Friday.

Washington Mutual Inc's effort to exit bankruptcy encountered a setback on Thursday when the judge in the case ordered the company to talk further with shareholders about their requests for documents.

The AUD is slightly weaker this morning after weakness in the EUR reduced risk appetite with some negative news out of the region.

Prudential's management team is under no pressure to step down over the British insurer's failed $35.5 billion bid to buy AIG's Asian life unit, Chairman Harvey McGrath said in an interview published on Friday.

Fitch Ratings downgraded BP , reversing its view that the Gulf of Mexico oil spill would have a limited financial impact on the company, and was joined by Moody's as fears grow over clean-up and legal costs.

The jarring flash crash on May 6 yielded a record trading day at TD Ameritrade Holding Corp , though some of its customers were upset with the market breakdown that day, the U.S. online brokerage's chief said on Thursday.

The Australian dollar rallied after third quarter of growth data showed fifth consecutive quarter of expansion

The global recovery had enough momentum before Europe's debt crisis struck to be able to weather it without being derailed, Treasury Secretary Timothy Geithner said on Thursday.

Stocks rose on Thursday, led by a late-day surge in technology shares as investors geared up for a strong unemployment report on Friday.

The global economy had enough momentum before Europe's debt crisis struck to weather it without a sharp downturn, Treasury Secretary Timothy Geithner said on Thursday.

Private sector employers added jobs in May and the economy's dominant services sector increased payrolls for the first time in more than two years, building evidence that the labor market was picking up steam.

Stocks rose on Thursday, led by a late-day surge in technology shares as investors geared up for a strong unemployment report on Friday.

Germany's consumer protection minister said on Thursday she would quit Facebook over what she called privacy law violations that she believed would lead to the company being fined by German data protection authorities.

A top Federal Reserve Official said on Thursday the U.S. central bank should raise rates to 1 percent by the end of the summer to avoid having to raise borrowing costs abruptly as the economic recovery gains momentum.

Growth in the euro zone services sector quickened in May, helped by a the recovery in France, but activity slowed in the big emerging economies and was stable in the United States, surveys showed on Thursday.

The S&P 500 was little changed on Thursday, pressured by weak natural resources shares and tepid May sales by U.S. retailers, while caution before Friday's unemployment report pushed investors to the sidelines.

A Swiss-U.S. deal to end a tax dispute that nearly crippled UBS AG and undermined Swiss bank secrecy inched closer to full parliament approval as the upper house gave it its backing on Thursday.

Lending to small businesses is declining, making it more difficult to counter the persistent problem of high unemployment, Federal Reserve Chairman Ben Bernanke said on Thursday.