IBT Staff Reporter

The economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

Those expecting Federal Reserve Chairman Ben Bernanke to pull a rabbit from his hat at a retreat for central bankers here on Friday may be in for a letdown.

The economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

This year's heady bout of risk aversion on financial markets has ratcheted up demand for gold, U.S. Treasuries and the Swiss franc to levels that suggest they may no longer be the safe havens they are billed as.

Stock index futures edged lower on Friday as investors found few reasons to buy following a volatile week and ahead of a speech from Federal Reserve Chairman Ben Bernanke on the economy.

Widespread reports have stated that Arsenal had an offer rejected for Bolton defender Gary Cahill as their bid only came within one-third of his valuation.

How does a company recover from the loss of an iconic leader like Steve Jobs at Apple Inc ?

Stock index futures were little changed on Friday as investors hesitated to make bets on when Federal Reserve Chairman Ben Bernanke would announce a new stimulus plan as a volatile week drew to a close.

China has ordered banks to include their margin deposits in required reserves to mop up excessive liquidity, banking sources said, the latest move in Beijing's campaign to rein in inflation.

Spain reached political consensus on Friday to set constitutional limits on its public deficit and debt, though details were sketchy and there were few signs the accord would persuade markets Madrid can manage its finances.

Nationalised Dutch bank ABN AMRO is shedding 2,350 jobs -- some 9 percent of its workforce -- as the state readies it for a return to private hands.

The impending threat that Apple will see Jobs-less days had been looming since CEO Steve Jobs announced his medical leave in January.

This year's heady bout of risk aversion on financial markets has ratcheted up demand for gold, U.S. Treasuries and the Swiss franc to levels that suggest they may no longer be the safe havens they are claimed to be.

South Korea's LG Electronics hasn't been so smart with its smartphone business. Its mobile phone division has suffered five consecutive quarterly losses, cutthroat competition is pressuring it to overhaul the business and its shares have plummeted.

Stock futures pointed to a slightly higher open for equities on Friday after steep declines in the previous session, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 all up 0.2 percent.

Greece said on Friday it would not go ahead with a debt swap crucial to its second bailout if private sector holders of less than 90 percent of the bonds participate, failing to satisfy its international partners.

The top official behind Standard & Poor's downgrade of the United States said on Friday it was not to blame for August's stock market rout, and warned that developed nations still needed to get their act together to tackle their mountains of debt.

Dutch state-owned bank ABN AMRO said on Friday it would cut 2,350 jobs over the next four years, mostly in back office operations such as IT, as well as in retail and private banking, in a drive to save costs.

Netbook PC pioneer Asustek Computer Inc posted an 8 percent rise in second-quarter net profit on Friday, above forecasts, and said it sees shipments of main products rising in the third quarter.

Netbook PC pioneer Asustek Computer Inc posted an 8 percent rise in second-quarter net profit on Friday, above forecasts, and said it sees shipments of main products rising in the third quarter.

South Korea's LG Electronics hasn't been so smart with its smartphone business. Its mobile phone division has suffered five consecutive quarterly losses, cutthroat competition is pressuring it to overhaul the business and its shares have plummeted.

Asian shares edged up on Friday and gold slipped ahead of a speech by Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook later in the day, while the euro gained after Spain agreed on a constitutional debt brake.

Global stock market sentiment had weakened before Standard & Poor's cut the U.S. credit rating to AA+ from AAA, the rating agency's global head of sovereign ratings David Beers said on Friday.

American International Group Chief Executive Robert Benmosche has complained to senior executives at investment banks about the unfavorable research of the insurer's stock, the Wall Street Journal said, citing people familiar with the matter.

Warren Buffett showed again that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.

Asian shares edged up marginally on Friday as investors waited for a speech by Federal Reserve Chairman Ben Bernanke later in the day, while nervousness about the U.S. economic outlook sent the dollar higher.

Groupon Inc. CEO Andrew Mason, lashing out at what he called insane and hilarious criticism in the media, defended the daily-deals Web site's record and growth strategy in a lengthy memo to employees Thursday.

Groupon Inc CEO Andrew Mason, lashing out at what he called insane and hilarious criticism in the media, defended the daily-deals website's record and growth strategy in a lengthy memo to employees on Thursday.

Warren Buffett showed again this week that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.