CHINA

The U.S. dollar's share of global currency reserves eased slightly to 61.5 percent in the first quarter of 2010 as total holdings climbed to a new record, International Monetary Fund data showed on Wednesday.

A broad coalition of U.S. business groups urged senators on Wednesday not to approve a bill that would allow the United States to use import duties against China's exchange rate policy. We agree that China needs an exchange rate that better responds to global trade flows, the U.S.-China Business Council and about two dozen other groups said in a letter to each member of the Senate.

Oil rose above $76 a barrel in choppy trade on Wednesday, but remained on course for its first quarterly decline since 2008 as stresses in financial markets and weak employment numbers weighed on the pace of recovery.

Global rice ending stocks for 2009-10 are expected to be 90.4 million tons against the early estimation due to the lower export by the major growers, said International Grain Council. However, the global rice production is projected to decline in 2009-10 owing to poor output in countries such as India, where worst drought impacted the production, IGC noted.

Oil rose by one percent on Wednesday to move back above $76 a barrel, but was still headed for its first quarterly drop since 2008 as stresses in financial markets weighed on expectations about the pace of recovery.

Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rose 0.4 to 0.5 percent, pointing to a firmer start on Wall Street on Wednesday, after steep losses in the previous session.

Google Inc said it will end the automatic redirection of users from its China portal within the next 24 to 48 hours, while Beijing kept silent on whether the move would allow Google to keep its China business.

Asian stocks fell on Wednesday and ended the second quarter with their worst performance since the collapse of Lehman Brothers as investors got out of shares and high-yielding currencies on concerns over bank funding in Europe.

Oil edged lower on Wednesday, heading for its first quarterly drop since 2008 as risk aversion over Europe's debt crisis offset the effect of rising demand in the United States and China, the world's top two consumers.

Asian stocks slid and the euro struggled near a two-week low on Wednesday as investors unwound risky positions before the quarter-end amid heightened concerns over banks' funding conditions in Europe.

Good monsoon, high gold prices and global trends may help silver outperform the yellow metal in India.Indians love to possess silver in their homes and after gold silver is the most sought after metal in Indian households for jewellery. Since gold prices are touching Rs 19,000 per 10 gm, many rural families are now switching to silver.

Google Inc will end the automatic redirection of users from its China to its Hong Kong website within the next 24 to 48 hours, a Google spokeswoman said on Wednesday.

Bank of America has leap-frogged U.S. rival JPMorgan to rank as the world's top bank in terms of capital strength while Industrial and Commercial Bank of China tops the profit league, according to a new study.

The Australian Dollar fell two US cents as markets reacted to evidence of a slowing in the global economic recovery.

Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.

General Motors has revamped the way it operates, with sharply lower costs, stronger brands and gains in key emerging markets like China, Chief Executive Ed Whitacre said in a pitch for the company's planned IPO.

Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.

(Corrects paragraph 2 to delete reference to worst day since May 6)

General Motors , in the year since emerging from bankruptcy, has revamped the way it operates, with sharply lower costs, stronger brands and gains in key emerging markets like China, Chief Executive Ed Whitacre told potential investors on Tuesday.

Google Inc is tweaking its China website in a last-ditch effort to save its search business in the world's largest Internet market after butting heads with Beijing over Web censorship.

The planned initial public offering of General Motors Co is likely to leave the U.S. government with a minority stake while also raising new funds for the automaker