IBT Staff Reporter

China's central bank plans to create a new vehicle to manage investment funds worth a total of $300 billion to improve returns on the world's largest stockpile of foreign exchange reserves, a source with knowledge of the matter told Reuters.

Stock index futures rose on Friday after European Union leaders agreed on measures that partially addresses the region's crippling sovereign debt crisis.

Europe divided on Friday in a historic rift over building a closer fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to forge ahead with a separate treaty, leaving Britain isolated.

Panasonic Corp, which has warned it will post a $5.5 billion annual loss, will launch a smartphone in Europe next year, the latest Japanese maker to tiptoe late into a fiercely competitive market dominated by Samsung and Apple.

China's industrial output growth dropped in November to its slowest pace in more than two years and inflation tumbled as economic conditions deteriorated, raising expectations that Beijing will pursue a more pro-growth policy to support jobs.

Toyota, set to lose its crown as the world's top-selling automaker this year, more than halved its annual profit forecast to $2.6 billion, reeling from a strong yen and Thai floods that severed its supply lines.

Stock index futures pointed to a slightly higher open for equities on Wall Street on Friday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.1 to 0.4 percent.

Top Chinese leaders will likely resist pressure to declare an outright easing in monetary policy when they meet next week to decide economic priorities for 2012, the last full year of President Hu Jintao's tenure ahead of a critical leadership succession.

Stock index futures pointed to a slightly higher open for equities on Wall Street on Friday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.1 to 0.4 percent.

Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated.

Toyota Motor Corp <7203.T> cut its profit forecast for this business year by more than half on Friday as it continues to suffer from a stronger yen and widespread output disruptions due to Thailand's floods.

Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated.

Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated.

European stock markets and the euro fell on Friday on fears that EU leaders were struggling to come to terms on immediate measures to halt the slide of euro zone government bond markets after two years of deepening crisis.

Panasonic Corp said on Friday it would launch a smartphone in Europe in March, the first step of a global rollout targeting 15 million unit sales worldwide in the year to March 2016, nine million of them overseas.

China's industrial output growth hit its slowest pace in more than two years in November and inflation tumbled as economic conditions deteriorated, raising expectations Beijing will ease monetary policy again.

Improved transparency is Europe's quickest route to debt resolution and China's best defense against external economic shocks, former U.S. Treasury Secretary Hank Paulson says.

Europe's debt crisis has brought Japan's own debt pile into a spotlight that ironically buys Tokyo more time to fix its finances by making alternatives to Japanese bonds look even less appealing.

European Union leaders paused from their summit after hours of talks focused on trying to find a solution to the euro zone debt crisis.

European Union leaders paused from their summit after hours of talks focused on trying to find a solution to the euro zone debt crisis.

EU leaders agreed stricter budget rules for the euro zone on Friday, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join.

Panasonic Corp will launch a smartphone in Europe next year, the latest Japanese maker to tiptoe late into a fiercely competitive market dominated by Samsung Electronics and Apple.

European leaders agreed on stricter budget rules for the euro zone Friday, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join.

EU leaders agreed stricter budget rules for the euro zone on Friday, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join.

Samsung Electronics Co won a round of its bruising global patent fight with Apple Inc on Friday when an Australian court lifted a ban on the sale of its Galaxy tablet computer in time for the busy Christmas shopping season.

The European Union failed to secure backing from all 27 countries to change the EU treaty at a summit on Friday, meaning any deal will now likely involve the 17 euro zone countries plus any others that want to join, three EU diplomats said.

Stroll the grimy backstreets of Dickensian London and experience for yourself the sights and sounds which inspired one of the greatest writers in English literature.

Among seniors with a high risk of bone fractures, taking vitamin D or calcium pills has no impact on their chances of dying from cancer or vascular disease, researchers say in a new study.

U.S. health advisers recommended a revision of labels for the widely used new generation of birth control pills, based on data showing they may put women at a higher risk of dangerous blood clots.