IBT Staff Reporter

The euro held near two-month highs on Friday, while the yen was under pressure as investors cut long positions and veered towards high-yielding currencies on improving risk appetite. The euro was little changed on the day at $1.2684 EUR=, with near term resistance around the May 12 high of $1.2740. It broke past resistance at $1.2673 on Thursday when it advanced nearly 0.5 percent against the U.S. dollar and jumped over 1 percent against the low-yielding yen EURJPY=R.

Gold prices recovered to follow oil towards north in Asian trade Friday, boosted by bargain buying as some investors jumped back to the precious metal from stocks and currencies.

The statement of China's State Administration of Foreign Exchange (SAFE) is unlikely to impact the bullion market. The SAFE described Beijing as a responsible long-term investor and doesn't seek the power to control recipients of its investment.

U.S. private equity firm Kohlberg Kravis Roberts & Co is planning to start up a natural gas exploration company focusing on shale and coal-bed gas, Bloomberg said, citing a person familiar briefed on the plan.

Asian stocks rallied for a second day and the euro held near two-month highs on Friday, supported on positive U.S. data and after the European Central Bank's offered upbeat view of the euro zone's recovery.

Google Inc Chief Executive Eric Schmidt expressed confidence the company will secure a license to operate a website in China, confounding speculation Beijing may shut down its flagship site there.

The Obama administration is preparing to unveil a revised deepwater oil drilling moratorium after a federal court refused on Thursday to reinstate an earlier ban imposed after BP Plc's massive oil spill.

The Obama administration is preparing to unveil a revised deepwater oil drilling moratorium after a federal court refused on Thursday to reinstate an earlier ban imposed after BP Plc's massive oil spill.

LeBron fever is in full bloom in the options market.

A U.S. appeals court dealt the Obama administration a setback on Thursday when it refused to halt deepwater oil drilling, but analysts said they did not expect companies to begin operations soon.

The Obama administration declined to label China a currency manipulator in a long-delayed report on Thursday, spurring fresh calls from U.S. lawmakers for tough new steps to pressure Beijing.

Venezuelan police said on Thursday they arrested two people for spreading false rumors on the micro-blogging site Twitter aimed at destabilizing the Latin American country's banking system.

The U.S. Treasury Department said on Thursday that China's yuan remains undervalued, but it declined to say that China or any other country manipulates their currencies for trade advantage.

A U.S. appeals court on Thursday rejected the Obama administration's request to put on hold a ruling that lifted a temporary moratorium on deepwater drilling in the wake of the BP Plc oil spill in the Gulf of Mexico.

American scientists have discovered two antibodies that fight different AIDS viruses providing the medical community a potential blueprint for designing a vaccine against the immune system disease.

High unemployment and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut, the International Monetary Fund said on Thursday.

A U.S. appeals court said on Thursday it would rule by early next week on whether to stay a lower court decision to lift a six-month ban on deepwater oil drilling imposed by the Obama administration.

The U.S. Treasury Department said on Thursday that China's yuan remains undervalued, but it declined to say that China or any other country manipulates their currencies for trade advantage.

A teenager from Melbourne was seriously injured on Wednesday after being run over by bulls during the annual running of the bull in Pamplona, Spain.

Wall Street rose for a third straight day on Thursday as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales.

Wall Street rose for a third straight day on Thursday as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales.

New U.S. claims for jobless benefits fell last week to their lowest level in two months, offering cautious hope for an economic recovery that had shown signs of fatigue.

Greek lawmakers approved sweeping pension reforms on Thursday as part of measures aimed at pulling the troubled euro zone nation out of a debt crisis, while thousands of striking workers took to the streets.

New U.S. claims for jobless benefits fell more than expected last week to their lowest level in two months, offering cautious hope for an economic recovery that had shown signs of fatigue.

U.S. retailers relied heavily on promotions to boost sales in June, helping teen clothing chains and department stores, but the trend may hit margins as they head into the key back-to-school shopping season.

Cable operators and entertainment companies are talking about selling cheaper cable TV packages with fewer channels to attract and keep customers trying to save money in a weak economy.

The Dow and the S&P 500 rose modestly on Thursday on strong June sales at several retailers and stronger-than-expected jobs sector data, but losses in the technology sector eased the market off its highs.

Researchers have discovered two previously unknown species of bottom-dwelling fish in the Gulf of Mexico, living right in the area affected by the BP oil spill.

BP Plc is ready to switch caps at the wellhead of the gushing Gulf of Mexico leak to create a hurricane-ready system that can capture more oil, the top official overseeing the spill response said on Thursday.