IBT Staff Reporter

Amazon.com Inc is launching an updated version of its high-end Kindle electronic reader and cutting the price in a move to address the threat from Apple Inc's iPad tablet computer.

Stock index futures fell on Thursday as moderate Chinese manufacturing data fueled worries about the strength of global economic growth, a day after Wall Street ended its worst quarter since the market meltdown triggered by the collapse of Lehman Brothers.

According to Russian diamond-mining giant Alrosa's rough diamond price forecast up to 2018, rough diamond production is expected to return to 2008 levels (165 MM carats) no earlier than 2015 and, thereafter, to remain at around 165-167 MM carats per year as a result of a limited supply of new projects and depletion of existing mines.

The dollar hit a seven-month low versus the yen on Thursday, stung by broad weakness and as traders took a stab at stop-loss orders suspected around the dollar's weakest of the year.

Gold held steady near $1,240 an ounce in Europe on Thursday, supported by concerns over weak global growth which are weighing on more economically sensitive assets like stocks and industrial commodities.

The yuan strengthened but stopped short of breaching its recent post-revaluation high against the dollar on Thursday as traders worried the central bank might intervene to pull it back if it rises too far, too fast.

Stock index futures fell on Thursday after soft Chinese manufacturing data and a day after Moody's warned of a potential downgrade for Spain and Wall Street ended its worst quarter since the collapse of Lehman Brothers.

The House of Representatives on Wednesday approved a landmark overhaul of financial regulations but the Senate put off action until mid-July, delaying a final victory for President Barack Obama.

Investors gave stocks and commodities a wide berth on Thursday on mounting worries about the strength of the global economic recovery after manufacturing data showed China's rapid growth was slowing.

New Bank of Japan board member Yoshihisa Morimoto said on Thursday that it is vital for the central bank to show its resolve to beat deflation, but he stopped short of elaborating on his views on monetary policy.

Stock index futures pointed to a lower open for Wall Street on Thursday, with futures for the Dow Jones down 0.2 percent, for the S&P 500 down 0.3 percent and for the Nasdaq down 0.4 percent by 0906 GMT.

New Bank of Japan board member Yoshihisa Morimoto on Thursday warned that the yen's rise would affect corporate sentiment and profits, and said he would closely watch the impact of the currency's strength.

Asian stocks and commodities fell while U.S. Treasury futures rose to a 14-month high on Thursday, after manufacturing data showed China's rapid economic growth was slowing, increasing fears of a global double dip.

The euro bounced back from early losses on Thursday on hopes that banks will not have to borrow heavily at a European Central Bank tender, signalling they can deal with the repayment of huge emergency loans.

Oil fell for a fourth straight day on Thursday, shedding 1.7 percent toward $74, on signs that China's economic growth was slowing, raising concerns about energy demand. The pace of manufacturing growth in the world's second largest oil consumer slowed in June as government steps to cool the property market and curb bank lending combined with a faltering global recovery.

Gold edged down on Thursday as investors waited for more clues on the state of the global economy after prices rallied toward a record this week, but falling shares could spur another round of safe haven buying.

The euro hit a record low against the Swiss franc and the Australian dollar also fell on Thursday as weaker-than-expected Chinese data added to doubts about the strength of the global recovery. The Chinese data sparked selling in higher-yielding currencies, with one trader saying low liquidity and short-term speculators taking punts on the euro against the Swiss franc and the Australian dollar against the yen added to the volatility.

Russia's gold reserve holdings climbed to 703.1 tons in May, after adding another 22.5 tons between April and May, according to latest IMF data. Russia had purchased almost a hundred tons of gold in recent months. In April alone, world's largest country purchased 27.6 tons of gold.

Gold prices dropped below $1240 in Asian trade Thursday mainly on conflicting reports over global economic situation. Gold for immediate delivery was seen trading at $1239.84 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,241.7 on the Comex in New York.

Amazon.com Inc is launching an improved Kindle electronic reader and cutting the price, in a move to address the threat from Apple Inc's iPad tablet computer.

Jitters that financial strains may derail the U.S. economic recovery mean the Federal Reserve will be in no rush to end its ultra-low interest rates, comments by officials of the U.S. central bank suggested on Wednesday.

Asian stocks and commodities began the second half of the year on a sour note on Thursday, with Japanese stocks sliding to a seven-month low after manufacturing data showed China's rapid economic growth was slowing.

The former head of the AIG unit that nearly crippled the insurer said the 2008 taxpayer bailout of up to $182 billion was too generous to customers like Goldman Sachs.

Google's application to renew its operating license in China is being reviewed by the government and the results will be posted soon, Chinese state media reported.

The pace of Chinese manufacturing growth slowed in June as government steps to cool the red-hot property market and restrain bank lending combined with uncertainty over export prospects to dampen sentiment.

American International Group Inc Chief Executive Robert Benmosche said last week he would quit unless Chairman Harvey Golub leaves the company, Bloomberg reported on Wednesday.

A survey revealed on Thursday that nine out of 10 over 18 years old have showed symptoms of stress in 2010.

U.S. authorities seized nine websites on Wednesday, accusing them of movie piracy by offering free access to movies such as Toy Story 3.

Goldman Sachs Group Inc President Gary Cohn said he's working overtime these days to stay in touch with clients as the firm weathers its battle with regulators.