IBT Staff Reporter

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking earnings more than halved from its strong start to last year.

Stocks worldwide plunged as concerns about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.

U.S. stock futures pointed to a stronger start for Wall Street on Friday, with equities set to rebound after falling sharply in the previous session.

India's Supreme Court on Friday ruled in favor of billionaire Mukesh Ambani in a gas pricing dispute with brother Anil, closing a chapter on a five-year battle that now gives the government control over setting prices.

World stocks extended sharp falls on Friday while government bonds rose as a global rout triggered by fears of contagion from the euro zone debt crisis prompted investors to dump risky assets.

A compound derived from broccoli could help prevent or treat breast cancer by targeting cancer stem cells according to a new study from researchers at the University of Michigan Comprehensive Cancer Center.

European stocks are primed for a pummeling on Friday, following ravaged U.S. and Asian shares, as Europe's debt crisis sent waves of dread through global markets and battered sterling and the euro.

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking profits more than halved after a bumper start to last year.

American International Group has replaced Goldman Sachs as its main corporate adviser with Citigroup and Bank of America Corp , the New York Times said, citing three people with knowledge of the matter.

Shock waves from the relatively small Greek economy reverberated around the world, as investors worried about the chances of other European governments facing a similar debt crisis.

Tokyo Commodity Exchange Inc reopened the gas oil futures market and resumed trading today at 9:00 JST. TOCOM listed the gas oil futures contract in September 2003 but suspended it in February 2006. TOCOM resumed the gas oil futures contract today after trading had been suspended since 2006. We had requested that the exchange restarts the contract in light of the highly volatile situation of the international oil industry as well as the oil distribution market in recent years, commented Akihik...

China's GDP growth will slow down from 11.9% in Q1 to 9% in Q4.Lower productivity growth, adverse demographics and lower returns to capital will reduce future potential GDP growth in China to around 9%. The peak is already evidenced in the data: Industrial production has turned and the growth in power, coal, cement, steel and auto production has slowed down. The circulation of money and credit, a major driver of commodity demand, could slow the economy down further, a Bank of America-Merrill Ly...

Global oil prices remained highly volatile in Asian trade Friday as the euro strengthened against the dollar. Light sweet crude for June delivery was seen trading at $77.61 a barrel at 12.00 noon Singapore time while Brent crude was at $79.95 a barrel at the same time in London. Commodities priced in dollars, such as oil, become more expensive for investors holding euros as the U.S. currency strengthens.

Gold prices eased in Asian trade Friday, after an overnight surge, as investors turned to profit booking. Gold for immediate delivery was seen trading at $ 1206.71 an ounce at 12.00 noon Singapore time while US gold futures for June delivery was at $1,200.40at the same time.

Kraft Foods Inc posted a higher-than-expected quarterly profit as it showed improvement in legacy businesses like beverages in the United States, while absorbing recently acquired chocolate maker Cadbury Plc.

Asian stocks were hammered on Friday as mounting fears over Europe's debt crisis sparked a global market rout that sent safe-haven assets soaring and clobbered sterling.

U.S. nonfarm payrolls likely grew for a second month in April as the government's census hiring picked up and private employment rose modestly, signs a gradual labor market recovery is building.

Nonfarm payrolls likely grew for a second month in April as the government's census hiring picked up and private employment rose modestly, signs a gradual labor market recovery is building.

Stocks plunged 9 percent in the last two hours of trading on Thursday before clawing back some of the losses as a suspected trading glitch and fears of a new credit crunch in Europe threw markets into disarray.

Advanced Micro Devices Inc may make some of its largest inroads into the fast-growing laptop computer market thanks to a new generation of power-efficient chips to be unveiled next week.

Initial public offerings around the world are being canceled as fear over Greece's deepening debt crisis and a sudden drop in U.S. stocks on Thursday rattled markets.

A spine-chilling slide of nearly 1,000 points in the Dow Jones Industrial Average, its biggest intraday points drop ever, led to heightened calls for a crackdown on computer-driven high-frequency trading.

A spine-chilling slide of nearly 1,000 points in the Dow Jones Industrial Average, its biggest intraday points drop ever, led to heightened calls for a crackdown on computer-driven high-frequency trading.

The top communications regulator sought to calm fears his agency would heavily regulate Internet services, but shares in major cable companies fell and industry insiders predicted a prolonged legal battle.

Thursday's sharp sell-off in U.S. stocks was sparked by nothing more than too many traders betting on energy, equity and metals markets going higher that then popped in a cascade of stop-loss selling, a hedge fund manager said.

The Heart Foundation survey has found that one in 10 heart attack sufferer would delay calling for an ambulance because they worried about the costs.

Queensland Health (QH) says it is concerned that the latest outbreak of dengue fever in far north of Queensland could get worse.

Did anyone really see that coming? Last night's price action in the market has mirrored the beginning of the financial crisis in 2008.

Kraft Foods Inc posted higher-than-expected quarterly sales and profit after its acquisition of chocolate maker Cadbury Plc as sales beat expectations.