OPEC cut its forecast for world oil demand in 2009 further on Friday but said the worst appeared to be over for the market, adding to signs of a turning point in the outlook for oil.
Oil fell below $72 a barrel on Friday, a day after reaching a near eight-month high, pressured by a firmer dollar and views that prices have risen too far despite improving economic sentiment.
U.S. import prices rose 1.3 percent in May, the Labor Department said on Friday, but the gain was powered by petroleum prices and underlying import price pressures were more muted.
Australian Dollar: Cool winter winds may be blowing in Sydney but the Australian dollar is on fire at the moment and opens on Friday at 0.8190.
The two founders of struggling Irish sports broadcaster Setanta are in talks with a potential investor which could prevent the group from falling into administration, a source familiar with the situation said on Friday.
Private equity firms are expected to bid for Goodbaby Group after its top shareholder hired Morgan Stanley to sell its stake in China's largest baby stroller maker, sources said on Friday.
BlackRock has agreed to buy Barclays Global Investors to create the world's biggest asset manager in a $13.5 billion deal that British bank Barclays hopes will put to rest concerns about its capital.
Contract drug manufacturer Patheon Inc posted a smaller quarterly loss on Friday as costs and restructuring expenses declined.
India represents a sixth of humanity and its giant economy may help reshape global business, but its place in the world is still hindered by the country's struggles to find stability in its own dangerous neighbourhood.
The head of the Iraqi parliament's biggest Sunni Muslim bloc was killed at a mosque on Friday, officials said, an assassination which could undermine efforts for sectarian reconciliation in Iraq.
The murder at a mosque of the head of the Iraqi parliament's biggest Sunni Muslim bloc could frustrate efforts to seek reconciliation among the country's fractious sectarian and ethnic groups after years of conflict.
Several big banks bailed out by U.S. taxpayers are expected to begin repaying their government debt next Wednesday, according to a report in the Wall Street Journal, which cited people familiar with the matter.
Oil fell below $72 a barrel on Friday, a day after reaching a near eight-month high, pressured by a firmer dollar and views that prices have risen too far despite improving economic sentiment.
The U.S. House of Representatives on Thursday approved tripling U.S. aid to Pakistan to about $1.5 billion a year for each of the next five years in a key part of a strategy to combat extremism with economic and social development.
A prominent anti-Taliban Muslim cleric who condemned suicide bombings was killed on Friday in a suicide attack in the Pakistani city of Lahore, police said.
NATO ministers have backed a U.S. shake-up of military command in Afghanistan based on a model used in Iraq, as well as plans to step up training of Afghan security forces, a NATO spokesman said on Friday.
U.S. financial aid to carmakers and a number of stimulus packages adopted by other countries to fight the economic slowdown could distort global trade, a confidential European Commission report said.
North Korea is unlikely to respond militarily to planned U.N. sanctions for its nuclear test, but the possibility should not be completely dismissed, U.S. Defence Secretary Robert Gates said.
Wall Street was set to open lower on Friday as commodity prices fell and investors looked ahead to key consumer confidence data for insight into the prospects for the recession easing.
Stock index futures extended losses on Friday, signaling a lower Wall Street open, as crude oil hovered near session lows and gold retreated amid a rise in the U.S. dollar.
The U.S. energy bill may not pass until next year, which could also delay an agreement to extend the Kyoto Protocol on cutting global greenhouse gas emissions until 2010, experts said on Thursday.
Capstone Turbine Corp said one of its microturbine systems has been successfully integrated into a Ford Motor vehicle in the U.K., sending shares soaring 82 percent.
