IBT Staff Reporter

Gold futures finished with a modest loss on Monday, extending their decline from last week, as investors sold precious metals to cover losses in equity markets. Silver also fell.

The dollar slipped against the yen on Monday on concerns that a U.S. recession could dent stock prices but steadied after the head of the European Central Bank raised a warning about currency exchange rates.

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Crude oil futures in New York rose to a new record on Monday as traders invested in the commodity as a hedge against a falling dollar.

U.S. stock futures were steady on Monday, point to a flat start, after indexes closed at a 19 month low on Friday following data that showed a second straight drop in monthly employment.

Heath Ledger's family quickly responded to rumors on Saturday that his daughter, Matilda Rose, would not be provided for after his death.

Countdown began on Saturday at the Kennedy Space Center in Florida toward Tuesday's launch of the Space Endeavour, less than three weeks after the last shuttle flight.

Union Finance Minister P. Chidambaram is trying to soothe the frayed nerves of the banking sector by assuring that the $15 billion loan waiver package for poor and marginal farmers, announced as a budgetary policy on Feb.29, would not hurt the banking system but rather strengthen it.

UK-based Standard Chartered Plc announced, Friday, it has sold its Indian asset management business to one of India's oldest lending institutions, Infrastructure Development Finance Co. (IDFC), in an all-cash $205 million deal (before deductions for local taxes and deal expenses).

Anil Dhirubhai Ambani Group (ADAG) company Reliance Energy Limited (REL) announced, Wednesday, its board has approved buyback of shares worth upto Rs.2,000 crore ($500 million) in a bid to ward off volatility and speculative activity in its share price and improve the company's valuation.

The 30-share prime index of the Bombay Stock Exchange (BSE), the Sensex, dropped 3.42 percent, Friday, to its lowest close in nearly six months on fears of economic slowdown in the US and rising inflation back home.

The U.S. Department of Defense issued restrictions to Google saying the internet giant shouldn't take its roving photographic vehicles that acquire Google Maps Street View images, near the U.S. military bases.

Apple made a splash on Thursday unveiling new software for its venerable iPhone, making the device more assessable to software developers and enterprise customers, but investors took a mixed view of the announcement on Friday.

Boeing said late Friday that it may protest the U.S Air Forces decision to chose air tankers made by rival companies to replace its own aging fleet.

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The Federal Reserve on Friday announced emergency measures to add $200 billion into the banking system in a bid to ease persistent liquidity strains that are leading to a global credit freeze.

A U.S. bankruptcy judge on Friday said Delphi Corp can proceed with an exit financing deal

Apple made a splash on Thursday unveiling new software for its venerable iPhone, making the device more assessable to software developers and enterprise customers, but investors took a mixed view of the announcement on Friday.

Copper prices closed with gains on Friday despite of an earlier decline triggered by fears of an economic recession in the U.S.

Treasury prices gave back earlier gains on Friday after the Federal Reserve announced a plan to boost loans to banks, offsetting early news that the U.S. lost more jobs than expected in February.

The dollar rose after dipping to new all-time lows against the euro on Friday as a report of bigger than expected job losses took a back seat to a plan by the Fed to give additional loans to banks.

Gold futures ended a volatile trading session with a modest loss Friday after the government reported the biggest drop in nonfarm payrolls in five years, signaling the U.S. economy might already be in a recession.

Crude oil prices hit a new record in New York above $106 on concerns the U.S. Federal Reserve will add more cuts on interest rates.

Japan stocks plunged more than 3 per cent because of increasing concern for the U.S. housing market. Investors also worried for Japanese steelmakers stocks that are declining these days.

Halifax has said that house price growth is continuing to slow, with prices in the UK falling by 0.3 per cent in February, according to its latest monthly survey.

Housebuilder Taylor Wimpey has announced a drop in pre-tax profits from £776.5 million in 2006 down to £535.6 million last year.

Soybeans declined on Friday, posting the highest loss since July 2005, after China canceled some contracts for buying soybean oil.