IBT Staff Reporter

Aging directors, diversification needs, fund-raising fatigue, and a current lull in the buyout market are prompting large private equity firms to take a serious look at launching publicly traded funds.

Britain's FTSE 100 index saw earlier gains evaporate and ended lower on Thursday after mining stocks including Xstrata and Rio Tinto tracked a steep fall in commodities prices and handed back some of the sector's striking gains.

An indicator of future U.S. economic activity slipped for a second month in March, hinting at slower growth ahead, while separate data showed Mid-Atlantic factory activity edged up in April despite higher costs.

Chinese President Hu Jintao pledged to President George W. Bush on Thursday that China will make more trade concessions and does not seek an excessive trade surplus with the United States.

Prices of oil, base metals and precious metals were slashed on Thursday afternoon as cross-asset profit-taking kicked in, traders said.

The headwind of rising U.S. interest rates may be about to ease, but investors are still facing tighter money across the board and some are beginning to sound warning bells about emerging markets as a result.

Brent crude oil jumped to a fresh record high above $74 a barrel on Thursday after a steep drop in U.S. gasoline stocks fueled fears of tight summer supplies at a time of growing anxiety over Iran's exports.

Industrial leaders United Technologies Corp. and Honeywell International Inc. posted better-than-expected quarterly earnings on Wednesday, but their shares headed in opposite directions, with investors keying off profit forecasts.

Leading U.S. carrier American Airlines Inc. on Wednesday reported a narrower quarterly loss that handily beat forecasts as rising fuel prices were partially offset by increasing revenue.

A roaring rally in precious metals persisted on Wednesday as a weaker dollar and firmer oil pushed gold and silver to 25- and 23-year highs respectively and lifted platinum to a record peak.

The Nikkei rose 0.68 percent on Wednesday as Canon Inc. (7751.T) and other exporters climbed after U.S. stocks posted their biggest gains in a year on expectations the U.S. interest rate-hike cycle may be near an end.

Soaring energy costs helped push U.S. consumer prices up a steep 0.4 percent last month, while rising apparel prices spurred core inflation more than expected, a government report showed on Wednesday.

Plagued by a series of safety lapses, Japan Airlines is putting together an exhibition of wreckage from a 1985 plane crash in what top executives said was a big push to raise awareness about safety among its employees.

A blistering four-year rally in crude oil shows no sign yet of running out of steam and crude could top $80 a barrel this year, boosting fuel costs for consumers and businesses, analysts said on Tuesday.

The property casualty insurance industry lost money on underwriting operations in 2005 but turned a profit for the year because of strong investment results, according to a trade association report.

U.S. stocks climbed on Tuesday as strong corporate earnings and evidence of tame inflation in March countered a rise in the price of oil to a record high.

U.S. automakers and auto parts suppliers face a string of issues created by the changed competitive landscape, Chicago Federal Reserve President Michael Moskow said on Tuesday.

With the next storm season looming, the U.S. energy industry is stretched thin as it struggles to rebuild Gulf of Mexico output from the ravages of hurricanes Katrina and Rita amid surging prices, officials said.

Oil surged to a record high above $72 on Tuesday on concern that Iran's nuclear stand-off with the West could cut oil exports from the world's fourth-largest crude exporter.

China's banking regulators on Tuesday issued rules for commercial banks to invest client funds offshore, an important step toward opening up the country's tightly controlled foreign exchange regime.

China Construction Bank, one of the country's largest state banks, denied on Monday a newspaper report it is in early talks with Bear Stearns that could lead to its taking a minority stake in the Wall Street securities firm.

Charles Schwab Corp.'s quarterly profit surged its highest level in six years as the stock brokerage continued to win over customers with lower prices and an advertising campaign highlighting the Main Street appeal of the company's namesake founder.

HCA Inc., the biggest U.S. hospital company, on Monday said it will report lower-than-expected quarterly results, amid a weak flu season, slowing patient admissions in major markets and more uninsured customers.

Foreign capital flowed heavily into U.S. assets in February, suggesting the trade deficit was well-financed for now, but a six-month low on a gauge of manufacturing activity in New York state sparked concerns about near-term economic strength.

China Construction Bank Corp., one of the country's largest state banks, denied a newspaper report on Monday that it is in early talks with Bear Stearns Cos. that could lead to it taking a minority stake in the Wall Street investment bank.

U.S. crude oil prices hit $70 on Monday, the highest level for nearly eight months, as Iran's pursuit of its nuclear programme heightened fears the U.S. might take military action against the oil-producing nation.

Bausch & Lomb Inc. was sued in federal court on Thursday in a complaint that accuses the company of failing to disclose to consumers that using its ReNu with MoistureLoc contact lens solution may result in a serious eye infection.

Halliburton Co. subsidiary KBR Inc., which generates more than half its revenue from U.S. government Iraq war-related contracts, filed with U.S. regulators on Friday to raise up to $550 million in an initial public offering.

Time Warner Cable is in early discussions to create an auction system for advertising spots on video-on-demand channels, modeled after Google's AdSense system on the Internet, the company's CEO said.