IBT Staff Reporter

The euro hit the day's high against the dollar and bund futures erased gains on Friday after a surprisingly strong reading of German business confidence. Germany's Ifo institute said its business climate index rose to 106.2 in July, much higher than forecasts for 101.6. The business expectations index came in at 105.5 versus expectations for 101.6.

India has come up with the world's cheapest laptop, a touch-screen computing device that costs $35.

Gold prices eased in Asian trade Friday as traders await the outcome of European bank stress test. Gold for immediate delivery was seen trading at $1194.47 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,194.4 an ounce on the Comex division of the NY Mercantile Exchange.

In a decision which will have a huge impact on the diamond sector across the globe, Zimbabwe announced that it will immediately auction a stockpile of more than 4.5 million carats of diamonds that it has been sitting on during the past nine months due to an international ban on trade in gems from the country's controversial Marange fields.

Crude prices slipped from an 11-week high to stay near $79 on Friday, as uncertainty about European bank stress tests and U.S. oil demand tempered a boost from positive corporate results and storm threats.

Gold slipped on Friday despite gains in equities as investors took to the sidelines before the release of European bank stress test results, which seek to restore confidence in the euro zone banking sector. Major listed lenders are expected to pass, while the tests may show the biggest problems lie with smaller, mainly unlisted players like Germany's Landesbanks and Spain's cajas.

The yen's current levels seem too high, a senior Cabinet Office official said on Friday, expressing worries over the impact a strong yen could have on Japan's fragile economy. The economy is moving toward a standstill, although views are divided on whether it has stalled, Keisuke Tsumura, a parliamentary secretary at the Cabinet Office, told reporters.

The euro steadied against the dollar on Friday, retaining gains made the previous day on strong euro zone data and U.S. corporate earnings, as investors awaited European bank stress test results due later in the day.

Asian stocks rose on Friday as strong earnings from economic bellwethers such as Caterpillar tempered concerns about a global slowdown, while the euro steadied ahead of European bank stress test results later in the day.

Asian stocks rose on Friday as strong earnings from economic bellwethers such as Caterpillar tempered concerns about a global slowdown, while the euro steadied ahead of European bank stress test results later in the day.

Brazil's Green Party presidential candidate is hoping her use of social media will help boost her low poll numbers before October's election as she seeks to close the gap with the two front-runners.

A U.S. Securities and Exchange Commission watchdog said on Thursday that he will expand his investigation of the agency's fraud suit against Goldman Sachs Group Inc to look into concerns raised about the timing of the firm's $550 million settlement.

Goldman Sachs Group Inc, JPMorgan Chase & Co and Citigroup Inc are among those Obama administration pay czar Kenneth Feinberg will cite for having made ill-advised payments, the Wall Street Journal reported on its web site on Thursday.

U.S. restaurants reported mixed results on Thursday, when Chipotle Mexican Grill Inc crushed Wall Street's quarterly profit view and the Cheesecake Factory Inc missed analysts' revenue target.

The AUD has opened up over USD0.8900 this morning after a surprisingly strong night offshore last night.

Dividend payments by London-listed companies will fall 6.5 percent this year, mainly because BP suspended payouts after the Gulf of Mexico oil spill, Capita Registrars Dividend Monitor said.

After looking vulnerable to more downside in Asia yesterday the Aussie dollar found intraday support at 0.8735 going on to reverse its trajectory and rally during the European time-zone to retest what had been strong resistance around 0.8750.

Dell Inc on Thursday agreed to pay $100 million to settle charges by market regulators that the computer maker used hidden payments from Intel Corp , and fraudulent accounting to make it appear that it was meeting analysts' earnings targets.

Microsoft Corp easily beat Wall Street forecasts with a 48 percent rise in quarterly profit, but its shares barely moved in the absence of powerful new signs of a rebound in global tech spending.

Amazon.com Inc's quarterly profit fell far short of Wall Street estimates, hurt by a 40 percent jump in expenses and by price cuts on its Kindle electronic reader, sending its shares down 14 percent.

Amazon.com Inc quarterly earnings fell far short of Wall Street estimates as operating expenses surged, sending its shares down 14 percent.

Caterpillar Inc , UPS and other U.S. multinationals reported strong quarterly results on Thursday, suggesting the global economy may be on a stronger footing than previously thought.

General Motors Co plans to buy auto finance company AmeriCredit Corp for $3.5 billion in a cash deal financed by government bailout money and aimed at removing a major investor concern before a planned IPO.

(Corrects that Kindle sales growth rate tripled, not sales, paragraph 9)

Earnings from economic bellwethers 3M, UPS and Caterpillar catapulted stocks on Thursday as investors shed some of their fears about the strength of the recovery.

Upbeat outlooks from economic bellwethers 3M, UPS and Caterpillar catapulted stocks on Thursday as investors shed some of their fears about the strength of the recovery.

Microsoft Corp reported a 48 percent rise in quarterly profit on Thursday, as strong sales of Windows 7 helped it beat Wall Street projections.

Amazon.com Inc quarterly earnings fell far short of Wall Street estimates as operating expenses surged, sending its shares down 14 percent.

American voters overwhelmingly say lowering unemployment is more important than reducing the federal budget deficit, according to a Quinnipiac University poll released on Thursday.