IBT Staff Reporter

American International Group Inc has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday.

A United Nations human rights body rebuked France on Friday for its crackdown on Roma and urged the government to try to integrate members of the EU's biggest ethnic minority rather than send them to eastern Europe.

India may extend an August 31 deadline in its standoff with Research In Motion over access to Blackberry data, if the Canadian firm says it has a solution and asks for time, a government source said on Friday.

Japan's prime minister said on Friday he will take firm measures on currencies when needed and will meet the Bank of Japan governor, increasing the possibility the central bank will ease policy soon as it confronts a surging yen.

China kept silent on Friday about a reported visit by North Korea's secretive leader, Kim Jong-il, that analysts say appears intended to line up Beijing behind his dynastic succession plans.

Turkey's new military chief, a quiet, hardline secularist, takes command on Friday of a force that sees itself cornered by EU-driven reforms and an emboldened government with roots in political Islam.

Economic growth was revised down to a sluggish 1.6 percent annual rate in the second quarter, dampened by the largest increase in imports in 26 years, the government said on Friday.

Gold held steady near $1,235 an ounce in Europe on Friday as buyers took to the sidelines ahead of key U.S. economic data due later in the session and a hotly awaited speech from Federal Reserve chair Ben Benanke.

China kept silent on Friday about a reported visit by North Korea's secretive leader, Kim Jong-il, that analysts say appears intended to line up Beijing behind his dynastic succession plans.

Dell Inc fired back in a bidding war for data storage company 3PAR Inc, matching a $1.8 billion offer by Hewlett-Packard Co and showing it isn't giving up yet against its bigger rival.

Europe's drug regulator is reviewing the safety of GlaxoSmithKline's Pandemrix flu vaccine, which has been given to more than 30 million people in Europe, to investigate possible links to a sleep disorder.

Britain's economy grew faster than originally thought in the second quarter of the year, with growth hitting a nine-year high, official data showed on Friday, but analysts doubt the pace of recovery can be sustained.

British Airways apologised to passengers after an emergency message warning they were about to crash into the sea was played by mistake.

Johnson & Johnson, whose consumer unit has been plagued by massive recalls over the past year, said on Thursday its orthopedic unit was voluntarily recalling two hip replacement systems.

Stock index futures pointed to a higher open on Friday as a better-than-expected reading on second-quarter economic growth relieved investors ahead of a speech from Federal Reserve Chairman Ben Bernanke.

Japan opened up its gallows to local media for the first time on Friday, a move that could spark debate in a country where the majority supports the death penalty.

Tiffany & Co reported a higher profit as sales in Asia and Europe soared and diamond costs fell, and the upscale jeweler raised its full-year profit forecast.

Pakistan ordered fresh evacuations from Sindh province on Thursday as the country struggled to bring relief to millions displaced by flooding and sought international help to rescue its economy.

Federal Reserve Chairman Ben Bernanke will have to address a number of pressing issues in a speech on Friday as investors search for more clarity on how close the U.S. central bank might be to another asset-buying spree to support the flagging recovery.

The top share index fell marginally early on Friday, as investors waited on the sidelines ahead of the second release of second-quarter GDP and a major speech by U.S. Federal Reserve Chairman Ben Bernanke.

Senior military figures have called for a review of security measures after Prime Minister David Cameron narrowly escaped a possible Taliban attack during a recent trip to Afghanistan, a media report said on Friday.

India insisted on Friday it would block some BlackBerry services next week if the smartphone maker did not address security concerns, and government officials said they were hopeful for a solution soon.

Stock index futures rose slightly on Friday ahead of a speech from Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter economic growth, which may offer clarity on how strongly a recovery is taking hold.

Stock index futures rose slightly on Friday ahead of a speech from Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter economic growth, which may offer clarity on how strongly a recovery is taking hold.

U.S. economic growth likely was much weaker than initially thought between April and June, hurt by surging imports and as rebuilding of business inventories softened, a government report is expected to show on Friday.

Australia's opposition leader denied on Friday he was manoeuvring to force the country back to the ballot box after a weekend election delivered a hung parliament, with independents holding the balance of power.

Stock index futures were slightly higher on Friday ahead of a speech from Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter economic growth, which may offer clarity on how strongly the recovery is taking hold.

Marketing group Aegis reported a 19 percent increase in first-half operating profit, in line with expectations, as its market-research unit returned to profit, reaping the benefits of past cost cuts.

Two-thirds of Japanese companies expect the yen's strength to squeeze profits and 40 percent will shift production overseas if the currency remains near a 15-year high on the dollar, a government survey showed on Friday.