IBT Staff Reporter

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Lloyds swings back to profit despite Irish hit

Part-nationalized British bank Lloyds swung back into profit last year after a recovery in its core UK retail banking operations absorbed a 4 billion-pound ($6.5 billion) hit on bad debts in Ireland.

Wall St futures point to higher open for stocks

U.S. stock index futures pointed to a higher open for Wall Street on Friday, adding to a late rebound in the previous session, with futures for the S&P 500, for the Dow Jones industrial average and for the Nasdaq up 0.5 to 0.7 percent by 5.02 a.m. EST.

Budget View: FMCG firms want inflation tackled

India's fast moving consumer goods industry is hoping the upcoming budget will bring in concrete measures to tame spiralling inflation and viable tax structure to ensure continued growth.

Japan to curb rare earth dependence on China

The Japanese government and private companies will spend $1.34 billion to curb Japan's dependence on rare-earth imports from China by a third, the Nikkei news report said Friday.

Shakira named 2011 Artist of the Year by Harvard Foundation

Grammy Award winning musician, songwriter and philanthropist Shakira has been honored by the Harvard Foundation as the 2011 Artist of the Year for her contributions to music and distinguished history of creativity as well as her humanitarian efforts through her Barefoot Foundation.

Oil pulls back on Saudi reassurances, stocks rise

Oil hovered above $112 a barrel on Friday and Asian stocks broke a four-day losing streak as concerns eased that a recent surge in energy prices would hurt demand for riskier assets and threaten broader economic growth.

Oil rises above $112 on Libya output cuts

Oil rose more than $1 a barrel to over $112 on Friday as unrest in Libya sparked fears of supply shortages, despite assurances by top oil exporter Saudi Arabia that it would step in to fill any shortfall.

News Corp kicks off Myspace sale process

News Corp has kicked off the process to explore the sale or spin-off of its troubled social entertainment site, Myspace, a person familiar with the talks said on Thursday.

Freddie Mac exec facing possible SEC charges

A top Freddie Mac executive received notice the government may file charges against him for allegedly violating securities laws in the years leading up to the housing bust, according to a regulatory filing released on Thursday.

Oil eases below $111 on Saudi assurances, all eyes on Libya

Oil eased below $111 on Friday as top world exporter Saudi Arabia sought to assure key importers it would fill any supply shortfall left by beleaguered fellow OPEC member Libya, soothing fears over a disruption in supplies that had carried prices to a 2-1/2-year high a day earlier.

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