IBT Staff Reporter

Agricultural Bank of China's $22 billion IPO made a lackluster debut in Shanghai, underscoring the challenges ahead for China's markets as other big banks look to tap investors for billions of dollars in funds.

Asian stocks erased most of their early losses on Thursday and the Australian dollar jumped after a spate of Chinese data confirmed the economy was slowing gradually but delivered no nasty surprises.

Agricultural Bank of China rose only marginally in the first minutes of its historic debut in Shanghai on Thursday, underscoring the difficult time that may lie ahead for a market that will be asked to absorb more big fundraisings by banks.

Apple Inc has called a surprise press conference for Friday to talk about the iPhone 4, as the company continues to deal with fallout from reported reception problems on its popular smartphone.

Marriott International Inc , operator of Marriott, Residence Inn and Ritz-Carlton hotels, posted a higher second-quarter profit on Wednesday, helped by a rise in room rates in North America.

American International Group Inc named director Robert Steve Miller as its new chairman, replacing Harvey Golub who resigned after clashing with Chief Executive Robert Benmosche over the botched sale of the insurer's Asian life unit.

Asian stocks fell in early trade on Thursday after a downbeat assessment of the economic recovery by the U.S. Federal Reserve and with caution prevailing ahead of China's second quarter GDP data.

Bank of America Corp plans to offer an online bank account that charges an $8.95 monthly fee for paper statements and using tellers, as it looks for ways to make up for income lost because of new regulations.

Marriott International , the largest U.S. hotel company by market value, posted a higher quarterly profit on Wednesday as room rates rose in North America for the first time in about two years.

Investors have muted expectations for Google Inc's second-quarter results, as economic clouds and shifts in the company's strategy dampened hopes that it will beat Wall Street estimates.

GlaxoSmithKline Plc's diabetes drug Avandia should be allowed to stay on the market but with additional warnings, U.S. health advisers recommended on Wednesday, easing a threat of further costly litigation that could have followed a ban.

The AUD has had a relatively quiet trading session overnight and we're likely to see a similar trading pattern this morning as the local market awaits the release of a wave of Chinese data due out around lunchtime.

Consumer sentiment in Australia markedly improved rising to 11.1% the most in 13 months, following 3 months of decline.

U.S. health experts recommended Wednesday that GlaxoSmithKline's (GSK) diabetes drug Avandia still be sold despite the heart attack risk it poses to patient.

Options activity on Google Inc suggests about a 4 percent move in the stock with a moderate upside bias following the Internet giant's earnings report due after the bell on Thursday.

Consumer Reports said on Wednesday its tests confirmed that putting Apple Inc's new iPhone into a case fixes the reception problems that some users have experienced.

U.S. health advisers voted on Wednesday to keep GlaxoSmithKline's Avandia diabetes drug on the market, with a majority of those in favor recommending the treatment carry additional warnings.

No one ever said the Lehman Brothers bankruptcy case would be easy, or quick.

Bank of New York Mellon Wealth Management wants to expand more U.S. and overseas markets through a stream of new hires and takeovers, Chief Executive Lawrence Hughes told Reuters on Wednesday.

U.S. stocks broke a six-day winning streak on Wednesday, with the S&P 500 ending a hair lower after the Federal Reserve suggested additional measures may be needed to combat a weakening economy.

Sales at U.S. retailers fell for a second straight month in June and businesses wary of ebbing demand barely raised inventories in May, more evidence the economic recovery has slowed in recent months.

Members of the Federal Reserve felt last month they should be ready to consider additional steps to boost the economy if an already softening economic outlook took a noticeable turn for the worse, a document released on Wednesday showed.

U.S. health advisers said GlaxoSmithKline Plc's diabetes drug Avandia should be allowed to stay on the market in some form, easing a threat of further litigation that could have followed a ban.

U.S. President Barack Obama discussed his efforts to stimulate the economy and create jobs with billionaire U.S. investor Warren Buffett in an Oval Office meeting on Wednesday, a White House official said.

Yum Brands Inc expects higher labor and commodity costs in the restaurant operator's key China market in the second half of 2010, company executives said on Wednesday.

Stocks weakened on Wednesday after the Federal Reserve's policy makers said the central bank should be ready to consider additional steps to boost the economy if a softening outlook takes a turn for the worse.

University of Queensland's Australian Institute for Bioengineering and Nanotechnology (AIBN) will produce antibodies for the animal virus Hendra under an accord with Queensland Health and an American foundation.

A majority of health advisers said GlaxoSmithKline Plc's diabetes drug Avandia did not raise a concern about the risk of death when compared with other diabetes drugs.

U.S. health advisers said GlaxoSmithKline Plc's diabetes drug Avandia raised a heart attack concern compared with diabetes drugs in other classes and a rival drug in the same class.