IBT Staff Reporter

A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.

A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.

A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.

Sears Holdings Corp's first-quarter profit slipped 38 percent, hit by weaker margins and slightly higher costs.

The British Airways cabin crew trade union, Unite, won an appeal on Thursday against a High Court ruling this week that had blocked a new wave of walkouts by the airline's staff.

The euro remained vulnerable in volatile trade on Thursday as uncertainty over unity in the euro zone weighed on the single currency, with extreme short positioning exacerbating moves.

Japanese online mall operator Rakuten said on Thursday it will acquire Buy.com Inc for $250 million, foraying into the U.S. market for the first time as it steps up its push to expand overseas.

Just a few weeks ago, there was virtually unanimous agreement among investors and economists that China was on the cusp of dropping the yuan's peg to the dollar, while the debate centred on how it might happen.

Toyota Motor Corp remains confident that its electronic throttles are sound and not behind instances of unintended acceleration that led to huge recalls, federal investigations, and lawsuits, the company's U.S. sales president said on Wednesday.

Stock index futures pointed to a mixed open on Wall Street on Thursday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.4 percent at 0836 GMT (4:36 a.m. ET).

According to World Gold Council (WGC), the Middle East non-resident Indian community demonstrated on May 16 that cultural traditions and heritage remain alive and well. Gold retailers in the GCC saw the best day of sales so far this year on the back of the festival, in which gold plays an important part.

India on Wednesday increased price of natural gas, produced by ONGC and Oil India Ltd, used for industrial purposes at par with the rate of Reliance. The cabinet approved an Oil Ministry proposal to raise the rate of gas sold to power and fertilizer firms from $1.79 per million British thermal unit to $4.20.

Gold prices moved up in Asian trade Thursday as euro recovers but stays below $1200 while silver, platinum and palladium bounced higher. Gold for immediate delivery was seen trading at $1196.45 an ounce at 11.30 a.m Singapore time while June delivery was at $1197.48 an ounce at the same time.

Old is Gold - going verbal on this well-known saying, it would surly fetch gold for you getting older. As gold prices are hovering at historic peak levels giving lucrative opportunity for investors to create wealth for their present, it has proved to be one of the best instruments for securing after-retirement life with gold coin investments.

European stocks rebounded on Thursday as investors sought bargains after the previous day's sharp sell-off but gains were limited by persistent euro zone fears, with the euro remaining under pressure.

Trading systems briefly broke down at hedge fund firm Citadel Investment Group and trading firm Knight Capital Group Inc when the stock markets plunged on May 6, the Wall Street Journal said.

Europe's debt crisis has laid bare the fragility of global finances and the United States, too, must tame its fiscal deficit, a senior Chinese official said on Thursday, spelling out Beijing's concerns before talks with Washington.

Worries over the euro zone's debt crisis hammered Asian stocks to their lowest in more than eight months and sent the euro down, struggling to stay above the previous day's four-year low as political divisions and fears of more market regulation kept investors on edge.

Bank creditors to Dubai World have accepted an offer from the indebted conglomerate to settle $14.2 billion in outstanding bank claims, according to a report in a UAE newspaper on Thursday.

The euro erased initial gains and edged lower on Thursday to trade above the previous day's four-year lows as political divisions in Europe and fears of more market regulation kept investors on edge and pressured stocks.

The euro erased initial gains and edged lower on Thursday to trade above the previous day's four-year lows as political divisions in Europe and fears of more market regulation kept investors on edge and pressured stocks.

Dubai World , the indebted state-owned conglomerate, has reached a deal in principal to restructure $23.5 billion, with its core bank creditors, the company said in a statement on Thursday.

The head of the Eurogroup said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.

Japan's economy grew 1.2 percent in the first quarter, the biggest expansion in three quarters, on stimulus-driven consumption and solid exports to Asia, but market turmoil from the European debt crisis clouded the outlook.

Japan's economy grew 1.2 percent in the first quarter, the biggest expansion in three quarters, supported by solid exports to Asia and a stimulus-fueled recovery in consumption.

The euro struggled to retain gains on Thursday after a fragile rebound from the previous day's four-year lows as political divisions in Europe and fears of more regulations kept investors edgy and pressured stocks.

A grandad has saved the lives of more than two million babies by donating his blood.

Fake or substandard versions of medicines are often hidden in cargos taking circuitous routes to mask their country of origin as part of criminal activity worth billions, they add.

In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the biggest overhaul of financial regulation since the 1930s, delaying a vote on passage.