MARKETS / FINANCE

The European Central Bank is expected to extend its liquidity safety-net on Thursday, delaying its exit from crisis support as policymakers confront a lopsided euro zone recovery and vulnerable banks in perimeter countries.

Australian Prime Minister Julia Gillard came within grasp of a return to power on Thursday after one of four kingmaker MPs backed her Labor Party's bid to form a minority government following last month's dead-heat elections.

Asian stocks hit a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.

Baidu Inc, operator of China's dominant search engine, said on Thursday that it will focus its future mobile Internet investments on its core search business as it takes aim at the next big Internet space.

Recruiter Hays Plc posted an 80 percent drop in full year pretax profit, hit by tough trading conditions in the first half.

Two struggling units of Lehman Brothers Holdings Inc , the bankrupt U.S. investment bank, need hundreds of millions of dollars in capital to stave off failure that could cost Lehman billions, court documents show.

A booming market of tweens is changing the landscape of online games.

House prices fell much faster than expected last month but further declines are likely to be modest, mortgage lender Nationwide said on Thursday.

Stock index futures pointed to a mostly lower open for U.S. shares on Thursday, giving back a little of the strong gains from the previous session, when they were boosted by strong manufacturing data from China and the United States.

World stocks hit a two-week high on Thursday and oil prices rose as optimism from strong U.S. and Chinese manufacturing data extended into a second day ahead of a euro zone interest rate decision and key U.S. jobs data.

China's Sinochem has hired HSBC bank to advise it on its options regarding Potash Corp , the target of a $38.6 billion (25 billion pound) hostile bid from BHP Billiton, the Wall Street Journal reported on its blog on Wednesday, citing a person familiar with the situation.

U.S. automaker General Motors Co plans to begin courting investors for its initial public offering immediately after the November 2 U.S. midterm congressional elections, two sources familiar with the plans said on Wednesday.

The dollar and yen recovered losses on Thursday as risk-taking sentiment was tempered ahead of a European Central Bank policy meeting later in the day and key U.S. jobs data on Friday.

Gold prices were slightly firmer on Thursday, and could stay on the rise as global economic prospects remain shaky with investors watching for more jobs data out of the United States.

Japanese ruling party powerbroker Ichiro Ozawa, challenging Prime Minister Naoto Kan in a party leadership vote, said on Thursday that action was needed to stem rapid rises in the yen that are threatening the economy.

Asian stocks hit a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.

Bankruptcies filings by consumers fell 8 percent in August but still remained on track to top 1.6 million filings in 2010, according to a report by the American Bankruptcy Institute .

The dollar was on the defensive on Thursday, retaining most of the losses sustained the previous day when upbeat data helped lure investors away from safe-haven currencies and assets. Figures released on Wednesday showed the U.S. manufacturing sector grew faster than expected and China's factory output regained momentum in August, while Australia's economy expanded at its fastest pace in three years in the second quarter.

Gold prices advanced marginally in Asian trade Thursday ahead of a key US jobs data. Gold for immediate delivery was seen trading at $1246.01 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery were little changed at $1,248.03 an ounce on the comex division of Nymex.

U.S. securities regulator is looking into a Wall Street trading practice in which unusually large numbers of orders to buy or sell stocks are placed in a fraction of a second, only to be canceled almost immediately, the Wall Street Journal reported on Thursday.

Asian stocks rose to a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.

Heading into the Labor Day holiday weekend, U.S. retail gasoline prices have fallen for three weeks in a row, currently averaging $2.68 per gallon, the lowest level of the 2010 peak summer driving season, and the second lowest price at this point in the past five summers (Figure 1). This year, prices peaked on May 10 at $2.91 per gallon. Compared to price variation experienced over recent summers, gasoline prices have moved in a narrow range during this summer's driving season (Figure 2).

Asian stocks rose to a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.

Burger King Holdings Inc , the second biggest U.S. hamburger chain, is in talks to sell itself to investment firm 3G Capital, a source briefed on the situation said on Wednesday.

Automakers posted their weakest U.S. August sales in 27 years, underscoring uncertainty about the strength of the recovery in the world's largest economy.

Looming Hurricane Earl strengthened and churned up dangerous swells on Wednesday, forcing evacuations on some of North Carolina's barrier islands and prompting storm alerts along much of the U.S. east coast.

Burger King Holdings Inc , the second biggest U.S. hamburger chain, is in talks to sell itself to investment firm 3G Capital, a source briefed on the situation said on Wednesday.

Connecticut is probing First Niagara Financial Group Inc's proposed $1.5 billion takeover of NewAlliance Bancshares Inc and has asked the banks to justify the merger, throwing a potential roadblock to the largest U.S. bank deal in nearly two years.

Looming Hurricane Earl forced vacationers and some residents off North Carolina's barrier islands on Wednesday, churning up dangerous swells and prompting storm alerts along the U.S. east coast.