IBT Staff Reporter

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Campbell Soup profit beats Street but sales light

Campbell Soup Co posted lower-than-expected quarterly sales and forecast sales growth for the new fiscal year below its long-term target as the world's largest soup company grapples with a weak economy.

August services PMI falls to 16-month low

British service sector activity grew last month at its slowest pace since April 2009, with a marked fall in hiring as employers worried about an economic slowdown and public spending cuts, a survey showed on Friday.

Gold falls 1 percent after U.S. jobs data

Gold prices fell more than 1 percent on Friday to their lowest in three sessions, after data showed U.S. non-farm payrolls fell by less than expected in August, boosting the appeal of assets seen as higher risk.

Dollar rallies versus yen after jobs data

The U.S. dollar rallied versus the yen on Friday after a government report showed U.S. employment fell by far less than expected in August and private payrolls growth was surprisingly strong. The dollar jumped 1 percent to trade above 85 yen as the data fueled expectations the U.S. labor market is not as bad as feared and helped lift U.S. Treasury securities yields.

Metro Bank ahead of targets on new accounts

Metro Bank, Britain's first new high street retail bank in more than 100 years, said on Friday it was ahead of its own targets for new account openings at its flagship branch.

BP oil spill costs hit £5 billion

BP Plc said the cost of dealing with its oil spill in the Gulf of Mexico had risen to $8 billion (5 billion pounds) as the oil giant prepared to release the findings of an internal probe into the causes of the disaster.

Common bone drugs linked to esophageal cancer risk

People who take a commonly used class of osteoporosis drugs called bisphosphonates for more than five years may be doubling their risk of developing cancer of the gullet or esophagus, a British study found on Friday.

Experimental Novartis drug shows malaria promise

An experimental Novartis drug can clear malaria infection in mice with a single dose and scientists say it shows promise as a possible future treatment for one of the world's major killer diseases.

Service sector spotlight shines on Germany, China

Global service sector surveys highlighted a growing divergence in economic recovery on Friday with a pick up in growth in China and Germany but slowdowns in Britain and Spain and an expected deceleration in the United States.

Mozambique says 7 killed in riots, calm restored

Mozambique's capital Maputo got back to work on Friday after two days of rioting, triggered by a sharp hike in bread prices, which the government said left seven dead, 288 injured and millions of dollars of damage.

FTSE up for sixth day

Slim gains from miners and energy firms nudged the FTSE 100 slightly higher on Friday, but moves were muted ahead of closely watched August employment data from the United States.

Payrolls seen falling, private hiring tepid

U.S. employment likely fell for a third straight month in August as more temporary census jobs ended and cautious businesses scaled back hiring, an outcome that could pressure the Federal Reserve to prop up growth.

Alcohol consumption suffers sharp slump

Alcohol consumption in Britain saw its sharpest decline in more than 60 years in 2009 in contrast to the perception that the country has a growing drink problem, the British Beer & Pub Association said on Friday.

Oil eases, all markets wait for U.S. jobs data

Oil eased on Friday as the market joined in the wait for monthly data from leading energy consumer the United States and Hurricane Earl posed a potential threat to the nation's east coast refineries. U.S. crude for October dropped 38 cents to $74.64 a barrel by 0920 GMT, on track for its third weekly drop in four weeks, while ICE Brent declined 42 cents to $76.51.

Europe shares edge up in early trade

European shares edged higher in early trade on Friday, after gains in the United States and Japan, but with traders cautious ahead of a key labour market report.

Heavy in dollars, China warns of depreciation

China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.

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