IBT Staff Reporter

Oil slipped on Friday, heading for a fourth consecutive weekly settlement within the $75-$80 range, as investors focused on a slowing economy and rising inventories in top consumer the United States. European stocks traded lower and Asian equities declined ahead of data expected to show U.S. economic growth slowed to 2.5 percent in the second quarter from 2.7 percent in the first quarter.

The dollar fell to an eight-month low against the yen on Friday while global shares slipped on worries U.S. growth data due later in the day may show the world's biggest economy is losing steam. The retreat in stocks and other riskier assets fed a rally in theoretically safer euro zone and U.S. government bond prices, with comments from a Federal Reserve official that adding to fears about the economy.

Stock index futures slipped on Friday as investors turned cautious ahead of a report expected to show slowing growth in the U.S. economy in the second quarter.

An increasingly heated battle in the global smartphone market is set to weigh on handset vendors' profit margins for the rest of the year, analysts said on Friday.

St. Louis Federal Reserve Bank President James Bullard on Friday said there is unanimity among officials on the central bank's policy-setting panel over providing more support to the economy if the recovery suffers a serious setback.

Stock index futures fell on Friday as investors turned cautious ahead of a report expected to show slower growth of the U.S. economy in the second quarter.

Japan's Ministry of Finance said on Friday it did not intervene in the foreign exchange market from June 29 to July 28, when the yen touched its highest level against the dollar since December.

Honda Motor Co raised its full-year forecasts after posting a record quarterly net profit on Friday, while brisk sales returned France's Renault to profit in the first half.

Merck & Co reported higher-than-expected second-quarter earnings on Friday, helped by strong sales of its treatments for diabetes, arthritis and HIV.

Dear Sam: I have proven I can step into any role and excel. With my job search lasting for 9 months now, I really need a job and am willing to do anything. How do I make my résumé reflect that I can do almost anything?

Every Friday afternoon the staff at cutting edge New York-based product development firm Quirky reviews ideas submitted by the public and voted on by its online community of consumers. Ultimately just one idea is chosen to be sold in Quirky's online store.

Economic growth likely slowed in the second quarter as a capital investment drive by businesses was sated by imports and consumer spending tapered off, a government report is expected to show on Friday.

A pair of key senators on Thursday urged President Barack Obama to name a permanent regulator for Fannie Mae and Freddie Mac, the mortgage finance giants seized by the government almost two years ago at the height of the financial crisis.

Foreclosures rose in 3 of every four large U.S. metro areas in this year's first half, likely ruling out sustained home price gains until 2013, real estate data company RealtyTrac said on Thursday.

Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.

ad news emanating from the US may impact copper prices and demand in the coming months even though China's still hungry for the metal. US durable goods order was dismal after witnessing the decline in consumer confidence earlier this week. The negative impact of the news is expected to soften copper.

Global oil prices eased in Asian trade Friday, tracking weak stocks in the region as investors looking for second-quarter U.S. economic growth report, scheduled for later in the day. Light sweet crude for September delivery was seen trading at $78.11 a barrel at 12.00 noon Singapore time while Brent crude was at $ 77.41 a barrel in London.

India's Wholesale Price Index inflation for food and fuel, power, light & lubricants has rose by 0.4% for the week ended 17th July as compared to 307.5 for the previous week.

Adverse weather conditions in major wheat producing regions prompted International Grains Council to trim estimates by 13 million tones this year. According to its latest report, the IGC also trimmed its forecast for world corn production, lowering its forecast for inventories of the grain to a four-year low.

Once again Europe has come to the rescue of gold, which has been witnessing a steady slide during the past few weeks. With Italy and Greece plunging into crisis again, the uncertainty looming over Europe has added to the fear among investors and gold prices are set to cash in on this panic with more demand from safe haven buying.

Samsung Electronics Co plans to introduce tablet computers this quarter based on Google's Android operating system, joining a growing list of firms seeking to challenge Apple's popular iPad.

Honda Motor Co posted its best quarterly operating profit in 2- years on Friday on brisk sales in the United States, China, and other Asian markets, and raised its forecasts despite a sharp rise in the yen.

The privately held parent of China's Geely Automobile said on Friday it had received the nod from China's state planner for its purchase of Ford's Volvo unit, a critical step for its plans to turn around the Swedish carmaker.

Wall St stock index futures pointed to a lower start on Friday as investors stayed cautious ahead of U.S. GDP data, with S&P 500, Dow Jones and Nasdaq futures down 0.3 to 0.4 percent at 5:11 a.m. ET.

Toyota Motor Corp said on Thursday it would recall nearly 417,000 high-end passenger cars and SUVs in the United States and Canada to fix steering problems.

General Motors Co and Chrysler are now on an orderly course a year after their government-brokered bankruptcies, with the Obama administration hopeful GM can seek a public offering of shares this year.

About 400 workers at Ford Motor Co's Windsor, Ontario engine plant will lose their jobs as Ford completes a planned move to a single shift

General Motors Co believes vehicle sales in Thailand could rise to more than 700,000 units this year as the economy proves resilient to recent political unrest and grows along with the rest of Southeast Asia.

Airbus parent EADS made sweeping increases in its financial forecasts on Thursday and pledged to increase jetliner production after a spate of new orders raised hopes of an end to a steep industry recession.