IBT Staff Reporter

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Futures edge higher as oil holds steady

Stock index futures edged higher on Wednesday as oil prices held steady after an OPEC official said the group saw no need for a meeting to discuss raising output even as turmoil in Libya continued.

Jury to hear gripping opening of Rajaratnam trial

The biggest Wall Street insider trading criminal case in a generation goes to trial on Wednesday, when prosecutors open their case against Galleon Group founder Raj Rajaratnam whose arrest 16 months ago shook the hedge fund world.

Toyota aims to double profit before 2015

Toyota Motor Corp will rely more on emerging markets for sales and launch about 10 new hybrid models under a long-term strategy aimed at nearly doubling profits before 2015, its president said on Wednesday.

Futures edge up as oil supply fears wane

U.S. stock index futures rose on Wednesday as oil prices held steady after an OPEC official said the group saw no need for an emergency meeting to discuss raising its output even as turmoil in Libya continued.

UK's Pru hikes payout to dispel AIA fallout

Prudential said it would pay a bigger-than-expected dividend from forecast-beating 2010 profits, hoping to finally dispel lingering investor resentment over its bungled and costly bid for Asian rival AIA last year.

EADS sees stable core profit in 2011

European aerospace group EADS forecast higher revenue and stable core operating profit as it boosts development spending this year, after bouncing back to profit with a record cash pile in 2010.

UK's Pru hikes dividend as profit beats forecast

Insurer Prudential will pay out a bigger-than-expected dividend on forecast-beating 2010 results, as it seeks to dispel lingering shareholder resentment over the group's bungled and costly bid for rival AIA last year.

Euro debt concerns weigh on global stocks

Concerns about the euro zone debt crisis weighed on world stocks and lifted Portugal's yields to a new euro-era peak on Wednesday, while crude oil held steady off highs following reassurances on supply from OPEC states.

EIA lifts oil, gasoline price forecast

The U.S. Department of Energy forecasts oil prices to average $105 a barrel in 2011, and said there is a 25 percent chance that gasoline prices will exceed $4 a gallon this summer.

Brent below $113, falls 3rd day

Brent crude dropped for a third day, dipping below $113 on Wednesday after reassurances from OPEC members of ample spare capacity eased anxiety about production losses from Libya, the world's 12th-largest oil exporter.

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