IBT Staff Reporter

U.S. stocks continued to fall in early trading on Friday, a day after President Barack Obama's bank restriction proposal, even as three industry titans beat earnings estimates.

Russia's UC RUSAL, the world's largest aluminum producer, raised $2.2 billion through its initial public offering and brought the debt-burdened company a step closer to being the first non-Asian firm to have a primary listing in Hong Kong.

National Australia Bank Ltd inched a step closer to a A$12 billion deal to buy AXA Asia Pacific Ltd after completing due diligence, as rival bidder AMP Ltd mulled its options.

NY-based architects Rhea White and Steve Schappacher of Schappacher White sent us images of their recently remodeled Shelter Island fisherman's cottage, built in 1904.

U.S. President Barack Obama's plan to limit financial risk-taking could force banks, such as Goldman Sachs or JPMorgan , to shed parts of their private equity operations.

France, Britain and Germany offered support on Friday for President Barack Obama's plan to limit banks' size and trading activities but fell short of pledging to follow suit on the proposal that has stunned world markets.

Several investors are looking into buying Goldman Sachs's 16.8 percent stake in Italy's Prysmian SpA, a profitable cable maker, a financial source said on Friday.

France, Britain and Germany offered some support on Friday for U.S. President Barack Obama's plan to curb banks' size and trading activities, which has stunned markets and could rewrite the world's financial order.

Chinese wind turbine company A-Power Energy Generation Systems said cost overruns at its 600-megawatt wind power project in Texas could reach $500 million and it was talking to Chinese state banks about funding the project.

Harley-Davidson Inc reported a larger-than-expected quarterly loss on Friday and warned that 2010 would continue to present challenges, sending its shares down more than 4 percent

U.S. stocks were set for a lower open on Friday as proposed sweeping restrictions on U.S. banks and the delayed confirmation of Fed Chairman Ben Bernanke unnerved investors after a 10-month rally.

Job cuts across the technology sector were strong in 2009, according to new research, however 2010 is predicted to buck the trend with moderate growth.

General Electric Co reported earnings that topped Wall Street expectations, as it kept costs in line despite still-sluggish demand for electric turbines and other heavy equipment.

The Indian interior ministry has recommended extra security measures for Indian airlines after intelligence on a threat from militants to hijack a plane of the national carrier Air India, officials said on Friday.

Chinese media on Friday dismissed Washington's call to lift Internet censorship, after a top Chinese diplomat warned the Obama administration to heed alarm bells over trade, Taiwan and Tibet.

Lenovo Group, the world's No.4 PC brand, said on Friday its mobile phone based on Google's Android platform will not be affected by an ongoing spat between the search giant and the Chinese government.

With food, cash and medicine starting to flow, Haiti's government and aid workers are turning to the mammoth task of feeding and sheltering hundreds of thousands of earthquake survivors still living in the capital's rubble-strewn streets and filthy tent cities.

South Korea's foreign minister said on Friday he wants to see dormant international talks on ending North Korea's nuclear arms programme resume in February without Pyongyang attaching conditions to its return.

A meeting of four of the world's fastest-growing carbon emitters on Sunday ahead of a Jan. 31 deadline for countries to submit their action plans to fight climate change may discuss a climate fund for poorer nations.

McDonald's Corp reported higher quarterly profit on Friday as strength in international markets offset its weakening U.S. business, which is grappling with high unemployment and rampant discounting.

U.S. stock index futures fell on Friday as President Barack Obama's proposed sweeping restrictions on banks and the delayed confirmation of Fed Chairman Ben Bernanke put investors on the defensive after a 10-month rally.

U.S. Defence Secretary Robert Gates sought to build bridges with the next generation of Pakistan's military leaders on Friday and end a trust deficit he said has hampered cooperation against Islamist militancy.

Microsoft Corp on Thursday released a patch to protect users of its Internet Explorer browser from attacks similar to those directed at Google Inc's operations in China last week.

Israel's blockade of the Gaza Strip not only restricts imports to the enclave but has also crushed traditional exports like fruit, flowers, furniture and ceramics.

The United States does not want countries to use identical airport security systems which could make it easier for potential attackers to elude them, U.S. Homeland Security Secretary Janet Napolitano said on Friday.

General Electric Co reported earnings that topped Wall Street expectations, as it kept costs in line despite still-sluggish demand for electric turbines and other heavy equipment.

Finnish Internet television firm Floobs said it has run into significant financial problems and is set to close down operations.

Sony Ericsson reported progress in its turnaround plan on Friday as losses met expectations, but the mobile phone venture offered a cautious view on 2010 market conditions.

China hit back hard against U.S. criticism of Beijing's controls over the Internet, saying on Friday that Washington's push against online censorship could harm relations between the two big powers.