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The U.S. economy closed out 2010 on a softer note than expected, with rising gasoline prices eroding consumers' purchasing power in December even as they helped lift retail sales.

U.S. stock index futures pointed to a lower open on Friday after weak retail sales and a mixed reaction to JPMorgan Chase & Co's quarterly earnings.

U.S. December retail sales rose slightly less than expected, but retail sales for all of 2010 reversed two years of contraction and posted the biggest gain in more than a decade.

U.S. stocks are down slightly in Friday morning trading after the release of U.S. retail sales data and news of further monetary tightening from China.

Sales at U.S. retailers rose slightly less than expected in December while underlying inflation remained calm, government reports showed on Friday.

Retail sales in the U.S. rose marginally in December as well as for the year 2010, according to a report by the U.S. Commerce Department.

U.S. stocks fell on Friday after retail sales rose less than expected and on a mixed reaction to JPMorgan Chase & Co's quarterly earnings, though the S&P was on track to notch a seventh straight week of gains.

Starbucks Corp unveiled a deal that sets the stage for the world's largest coffee company to bring its iconic cafes to India, where Western-style coffee shops are increasingly popular.

The BSE Sensex fell 0.4 percent in early trade on Friday, with financials leading the decline ahead of December inflation data.

The embattled Congress-led coalition government failed to announce major policy decisions on Thursday to tackle soaring food prices after days of wrangling, taking only minor measures seen as unlikely to make a major impact.

U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.

Companies will no longer be able to force staff to retire at 65, Britain's government said on Thursday in a move to boost the number of older people staying on at work as the population ages.

Ethiopia has penalised retailers and suppliers in the capital who raised the prices of consumer goods such as bread by amounts higher than caps set in January, authorities said on Thursday.

Spain and Italy staged successful bond sales on Thursday, easing concerns about an escalation of euro zone debt strife and buying the bloc's leaders more time to come up with a new package of anti-crisis measures.

2011 is shaping up as a race to the bottom for currency values, writes Harvard professor Kenneth Rogoff in today's Financial Times. No wonder gold has been so attractive.

Europe's second biggest electricals retailer Dixons Retail Plc on Thursday said its like-for-like sales for the 12-week period ended Jan 8, 2011, fell 2 percent as sales fell 1 percent in local currency due to adverse weather conditions in the run up to Christmas.

Hong Kong stocks are likely to rise further on Thursday with traders expecting momentum to continue after the benchmark convincingly broke through short-term chart resistance on high volumes.

Summary of Fed Beige Book, January 12, 2011

Wal-Mart’s (NYSE: WMT) efforts to establish its first footprint in the vast New York City market promises to be long and bumpy ride, as forces opposed to the discount retailing giant’s presence gather their resolve. Meanwhile, the company seems equally determined to build a store in the city.

Ghana's inflation slowed to a new 18-year low of 8.58 percent in December, feeding expectations the West African economic heavyweight will keep its policy interest rate on hold in the short term.

Even as the rest of the world's efforts to push consumer spending and economic growth are floundering, Brazil reported a more-than-expected rise in retail sales during November.