IBT Staff Reporter

Leftist Bolivian President Evo Morales said on Saturday he had nationalized four power companies, including a subsidiary of France's GDF Suez, in his drive to tighten state control over the impoverished economy.

Chancellor Angela Merkel said she would welcome a contribution from Germany's private sector to support a Greek rescue package and acknowledged the public outrage over the damage caused by market speculation.

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Stubbornly high crude oil inventories continued to stymie bulls through the middle of the week, but the market seized on positive economic data to push prices higher toward the end of the week. The oil spill from a collapsed rig off the Gulf coast may also have played a role in firming prices. Analysts said that the spill could have a short-term impact on supply if it interfered with oil deliveries to Gulf coast refineries, and a longer-term impact if it led to new restrictions on offshore drill...

A more flexible yuan will help balance the Chinese economy, but Beijing alone must decide on when and how to adjust its currency policy, the head of the Asian Development Bank (ADB) said on Saturday.

In an attempt to boost its international rice sales, Cambodia has decided to axe rice export licenses to exporters. Country's Prime Minister Hun Sen issued a new order in this regard to replace an old order of 2008. The document ordered would-be exporters to apply to a Ministry of Commerce-run company called Green Trade for a permit.

The National Spot Exchange Limited (NSEL), India has recorded a turnover of Rs 2084.29 lakhs with total of 478 trades at the end of the first trading session. The turnover in bullion was Rs. 316.30 lakhs and in agri commodities Rs. 1767.99 lakhs.

U.S. regulators seized three Puerto Rican banks on Friday and sold their deposits to other banks, costing the Federal Deposit Insurance Corp insurance fund $5.3 billion -- one of the largest hits in the banking crisis.

In the second stage of a two-part rollout, Apple Inc on Friday began selling the pricier, high-speed wireless version of the iPad in the United States, following the successful launch of the short-range Wi-Fi tablet earlier this month.

Chevron Corp and Total SA posted sharp gains in quarterly profit on Friday, the latest among the major oil companies to see their coffers swell on the strength in oil prices.

The U.S. Federal Reserve took steps on Friday toward creating tools that could help it eventually withdraw the billions of dollars it pumped into the economy to support economic recovery.

Stocks tumbled on Friday to close out the worst week since January as news of a criminal probe into Goldman Sachs unnerved investors already anxious about the prospects for heavy regulation from Washington.

Bank of America Corp Chief Executive Brian Moynihan told Fox Business News on Friday that he supported a $50 billion orderly liquidation fund for large U.S. financial firms, but thought it should be built up over time.

Shares of Goldman Sachs Group Inc slumped 9.4 percent on Friday to a more than nine-month low, a day after news of a criminal investigation by U.S. federal prosecutors accelerated the company's crisis.

Standard and Poor's starring role in the latest chapter of the European debt crisis has rekindled criticism on Wall Street about the role of rating agencies in credit markets.

U.S. stocks tumbled on Friday to close out the worst week since January as news of a criminal probe into Goldman Sachs unnerved investors already anxious about the prospects for heavy regulation from Washington.

Hewlett-Packard Co hopes its planned $1.2 billion acquisition of Palm Inc will not only give it solid foundation in the growing smartphone market, but also provide it with a platform for other mobile devices, including tablets.

The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as consumers increased spending at the fastest pace in three years, the strongest sign yet a sustainable recovery may be taking hold.

Massey Energy Co is under criminal investigation by the FBI after the deadly mine explosion in West Virginia, U.S. officials familiar with the matter said on Friday, news that sent the company's stock plummeting.

Continental Airlines Inc and UAL Corp's United Airlines have ironed out the last remaining wrinkle in their merger talks, paving the way for a deal that would create the world's largest carrier, two sources familiar with the matter said on Friday.

The U.S. Federal Reserve on Friday authorized a new mechanism that it said can eventually be used to withdraw excess cash from the banking system.

The tests on the flu vaccines reveal no signs of abnormalities so far, as health authorities continue investigation into the bad flu vaccine reaction scare in WA.

Lala, the online music service, will be shut down on May 31, just five months after Apple Inc bought the start-up fueling speculation the iPod maker plans to launch a new Web-based version of iTunes.

Chevron Corp's quarterly profit more than doubled, beating forecasts, as a bounce in oil prices offset lower refinery earnings at the second-largest U.S. oil company.

Based on the results of a study, no single medication is responsible for the higher risk of cancer observed among patient who have received immunosuppressive drugs for kidney transplant.

A bacterium that causes ulcers and cancers of the stomach seems to have a beneficial side - it significantly decreases the risk of one specific type of oesophageal cancer - reveals an Australian study.

A research to recreate a fully-functioning skin in the laboratory for the purpose of transplant that could improve the lives of burn patients, is ongoing says a spokeswoman for Sydney Burns Foundation.

The United States on Friday placed Russia on its list of countries with the worst records of preventing copyright theft for the 13th straight year, just days after the two nations agreed to intensify talks on Moscow's bid to join the World Trade Organization.

Microsoft Corp joined archrival Apple Inc in criticizing Adobe Systems Inc's widely used Flash multimedia software, creating a rare bond among the two computing giants.