IBT Staff Reporter

New claims for unemployment insurance fell more than expected last week to their lowest level in nearly two years as seasonal layoffs eased at factories, government data showed on Thursday.

The dollar fell to a two-month low against the euro and a basket of currencies on Thursday after dovish U.S. Federal Reserve minutes heightened concerns about the outlook for the U.S. economy. Fed officials last month felt they should be ready to consider additional steps to boost the U.S. economy if an already softening outlook took a noticeable turn for the worse.

JPMorgan Chase & Co posted higher second-quarter earnings on Thursday, beating analysts' expectations, after setting aside less money for loan losses.

Stock index futures were higher on Thursday after better-than-expected quarterly profits from JPMorgan Chase & Co allayed concerns about the strength of the financial sector.

Kohlberg Kravis Roberts & Co's long-awaited listing on the Big Board brings a wide investor audience to the iconic private equity firm and could be a bellwether for rivals looking to follow suit.

Till now India has been the biggest consumer of gold but gold exchange traded funds (ETFs) were not much popular in India. However, things are changing fast in India. More and more people are now putting their money on Gold ETFs. As a sign of this, India's gold collection under exchange-traded funds rose 76 per cent in June from a year ago to 10.453 tonnes.

Stock index futures were higher on Thursday after better-than-expected quarterly profits from JPMorgan Chase & Co allayed concerns about the strength of the financial sector.

Oil reversed early losses and rose toward $78 a barrel on Thursday after a bounce in equities overshadowed earlier news pointing to flatter economic growth in the world's number two oil consumer China. European shares turned positive after JP Morgan Chase & Co reported second-quarter earnings, adding to evidence of the strong correlation between oil and equities.

Markets are relatively patient about the budget-cutting efforts of Britain, the United States, Germany and Japan, but that could change if governments are slow to act, OECD chief Angel Gurria said on Thursday.

Apple Inc finds itself on unfamiliar ground heading into its earnings report next week: on the defensive.

GlaxoSmithKline expects to record a legal charge of 1.57 billion pounds ($2.4 billion) for the second quarter after settling the substantial majority of claims relating to its controversial diabetes pill Avandia.

JPMorgan Chase & Co posted higher second-quarter earnings on Thursday after setting aside less money for loan losses.

Agricultural Bank of China's $19 billion IPO made a lackluster debut in Shanghai, weighing on the market and underscoring the difficulty other Chinese banks will face tapping investors for billions more.

The United States and Europe are slowly pulling out of the economic crisis, General Electric Co chairman and chief executive Jeffrey Immelt told la Repubblica daily in an interview on Thursday.

Wall Street is set to open lower on Thursday, with economic growth worries flagged up by the Federal Reserve and by Chinese data, and with investors eyeing results from JP Morgan as the second-quarter earnings season gathers pace.

The dollar hit a two-month low against the euro and a basket of currencies on Thursday after dovish U.S. Federal Reserve minutes triggered concerns about the outlook for the U.S. economy. Federal Reserve officials slightly revised down their economic growth outlook, while minutes from the central bank's June 22-23 meeting said further policy stimulus may need to be considered if the outlook worsened.

China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.

China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.

World stocks slipped from a three-week peak on Thursday while the low-yielding yen rose after the Federal Reserve suggested additional measures may be needed to combat a weakening economy.

The Bank of Japan revised up its economic forecast for the current fiscal year on Thursday but reiterated that it will keep monetary policy easy, with deflation likely to persist at least until early 2011. The central bank kept interest rates at 0.1 percent and held off on new policy initiatives as widely expected, in a unanimous vote.

Oil fell for a second day on Thursday to below $77 after a slowdown in Chinese economic growth in the second quarter and U.S. Federal Reserve minutes renewed concerns about the recovery of the world economy.

The Australian dollar fell on Thursday, as selling by model-based funds weighed on the currency against the yen, while it took in stride data that pointed to a mild slowdown in China, rather than a deeper one as some had feared.

Gold edged up on Thursday after China's growth data for the second quarter was slightly weaker than expected, helping revive the precious metal's allure as a hedge at a time of economic uncertainty. Meanwhile, economists expect Beijing to make no dramatic policy response to Thursday's data, which is seen as positive for the precious metal's demand in China, analysts said.

Gold thrives on tragedies. And, it has proved once again that any economic crisis will help gold rise. This is the turn of Portugal, which is facing economic crisis like Greece. As the news spread about Portugal's economic woes, gold prices surged on Monday and Tuesday.

Gold prices gained momentum, from weak Chinese growth data for the second quarter, in Asian trade Thursday after dropped overnight on profit taking. Gold for immediate delivery was seen trading at $1212.67 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1212.76 an ounce.

The Bank of Japan revised up its economic forecast for the current fiscal year on Thursday but reiterated that it will keep monetary policy easy, with deflation likely to persist at least until early 2011. The central bank kept interest rates at 0.1 percent and held off on new policy initiatives as widely expected, in a unanimous vote.

Asian stocks fell on Thursday as investors took profits from a recent rally after the Federal Reserve's caution on the U.S. economic recovery, even as Chinese data pointed to only a mild cooling in that economy.

The Australian dollar jumped about 0.3 percentage point, paring earlier losses, while U.S. S&P stock futures erased earlier losses on Thursday after a series of Chinese data eased worries about a slowdown in China.

Crude oil rallied as high as 78.15 after the US Energy Department reported crude inventory fell more than expected. However, gains were erased as the FED downgraded its economic forecasts. Disappointing retail sales also weighed on prices. The front-month WTI contract closed largely flat at 77.04. Today in Asia, prices remain under pressure as China's GDP growth eased to +10.3% in 2Q10, signaling the tightening policies have been effective.