Manufacturing activity surged across Asia in September as demand picked up, although plans by Japanese manufacturers for record cuts in capital spending cast doubts on the strength of a recovery in the industrialized world.
Oil eased toward $70 on Thursday, pulling back after the sharpest daily jump since April as ballooning distillate stocks doused positive sentiment and revived the view that oil prices may have run ahead of demand.
Stock futures pointed to a flat to weaker start for Wall Street on Thursday, with the Nasdaq Composite futures down 0.3 percent after Cisco System offered to buy Norwegian Tandberg for $3 billion in cash.
World stocks kicked off October on a steady note on Thursday as caution over the state of U.S. recovery tempered anticipation that the global economy would gather momentum in the final three months of 2009.
Manufacturing activity surged across Asia in September as demand picked up, although plans by Japanese manufacturers for record cuts in capital spending cast doubts on the strength of a recovery in the industrialized world.
Akamai Technologies is extending its content delivery network to the Apple iPhone as it introduces the Akamai HD Network, a system for streaming high-definition live and on-demand video to a variety of devices.
Asian shares fell on Thursday after negative news on U.S. jobs and manufacturing pointed to a patchy recovery in the world's largest economy, and as dollar weakness sparked concerns for exporters around the region.
More private equity firms in Australia are eyeing exit strategies by floating companies in the wake of U.S. buyout group TPG'slaunch this week of Myer's $2 billion initial public offering.
Oil fell below $70 on Thursday, pulling back from the more than 5 percent gain a day ago on worries that a rise in U.S. crude and distillate stocks signals weak demand when taken along with the latest economic data.
The U.S. economy is mending more quickly than anticipated, although high unemployment and growing commercial property defaults will put a drag on the recovery, the International Monetary Fund said on Thursday.
Many people who have died of H1N1 swine flu in the United States have also had bacterial infections, health officials reported on Wednesday.
Nortel Networks Corp said on Wednesday it plans to sell its global GSM business, as the bankrupt telecom equipment maker continues to auction off its assets.
Asian shares fell on Thursday after a surprise drop in manufacturing in the U.S. heartland cast doubts on the strength of a global recovery, while the dollar was on the back foot against higher-yielding currencies.
Citigroup completed the sale of its Japanese brokerage Nikko Cordial Securities to Sumitomo Mitsui Financial Group, one more step in the U.S. bank's plans to shed non-core assets.
BofA's Lewis Out; Saturn Goodbye; Economy Stabilizing
General Motors Co will close Saturn and wind down its dealership network after a deal to sell the faltering brand to Penske Automotive Group collapsed, the automaker said on Wednesday.
Citigroup completed the sale of its Japanese brokerage Nikko Cordial Securities to Sumitomo Mitsui Financial Group , one more step in the U.S. bank's plans to recoup losses from the financial crisis.
South Korea surpassed Japan and Sweden to take the top spot in an annual ranking of broadband quality, helped by its government's efforts to boost it as an IT world leader, a study showed on Thursday.
JPMorgan Chase's investment bank is planning a push to win more business outside the United States by building on the group's financial ties with overseas companies, its head Jes Staley told the Financial Times.
The U.S. government and the body in charge of assigning Internet addresses signed an agreement on Wednesday that allows for greater global participation in the Internet domain name process.
Stocks fell on Wednesday after a surprising contraction in an index of Midwest business activity, but buying of technology bellwethers like Cisco Systems Inc at the end of a strong quarter limited losses.
A British government minister asked California governor Arnold Schwarzenegger on Wednesday to shut down a U.S. website that allows men to rate prostitutes, including many working in London.
