IBT Staff Reporter

Consumer sentiment improved in early June to its strongest level in nearly 2-1/2 years, bolstered by hopes of better job and credit conditions, a survey released on Friday showed.

The euro zone does not risk relapsing into recession and markets are overly pessimistic about Europe's common currency, members of the European Central Bank said on Friday.

Sales at retailers unexpectedly fell in May for the first time since September following a record slump in purchases of building materials, adding to fears the economic recovery was losing some steam.

A bidder is offering to pay $1,500,100 for a steak lunch with the billionaire investor Warren Buffett, driving the top bid more than $500,000 higher in seven minutes as the annual charity auction on eBay Inc's website heads into the homestretch.

Stocks were set for a lower open on Friday after sales at U.S. retailers unexpectedly fell in May, stirring fears the economic recovery was losing some steam.

The advisory panel also recommended post-marketing collection of additional safety data and evaluation of a lower dose

Spain's economy ministry said on Friday it had not made a request for economic aid from the European Union, after a newspaper report that the EU was preparing to activate a package in case Madrid asked for it.

Chinese inflation quickened to a 19-month high in May, but a moderation of growth in factory output and capital spending eased worries for some analysts that the world's third-largest economy could boil over.

Sales at U.S. retailers unexpectedly fell in May for the first time since September, pulled down by a record slump in purchases of building materials, according to a government report on Friday that added to fears the economic recovery was losing some steam.

Banks are to get more time to implement new capital rules and some proposals will be eased to ensure the industry can adjust to the new standards, a top central banker and regulator said, lifting the sector on Friday.

Gold rebounded on short covering on Friday after falling around 1 percent in the previous session, while a rise in ETF holdings to another record showed bullion still attracted buying from investors.

Stock index futures were little changed on Friday, with the benchmark S&P 500 on track for its best weekly performance in a month ahead of data on retail sales and consumer sentiment.

Stock index futures were little changed on Friday, with the benchmark S&P 500 on track for its best weekly performance in a month ahead of data on retail sales and consumer sentiment.

The euro rose on Friday on the back of higher stocks, but the single currency struggled to extend its short-covering rally versus the dollar due to technical resistance and options-related selling.

The European Union should have stepped in earlier than it did with a rescue package for Greece, European Central Bank board member Nout Wellink said on Friday.

Workers at a lock factory in southern China that supplies Honda Motor Co challenged managers on Friday, demanding higher pay and freedom to form independent unions, banned in the export powerhouse.

Like the risk-on, risk-off volatility that has buffeted global markets this year, China's currency policy has been subjected to bouts of pressure and criticism from abroad interspersed with periods of calm.

Rumaila, the workhorse of Iraq's oil industry and its largest producing oilfield, is buzzing with activity as executives, engineers and drillers begin a massive overhaul to nearly triple its million barrels per day output.

Oil prices fell to near $75 a barrel on Friday after gaining about 5 percent this week as investors weighed prospects that the European debt crisis could slow fuel demand growth even in emerging markets such as China.

We expect the strong export numbers in May to increase international pressure on the currency issue. On the other hand, the weakened euro and domestic wage pressures are likely to limit the size of any appreciation in the near term.

The euro was supported on Friday on the back of higher stocks, but the single currency struggled to extend its short-covering rally versus the dollar ahead of technical resistance, while options barriers also capped gains.

One of the best ways to get inside the head of British private equity boss Guy Hands is to study what gift he gives for Christmas. For years, Hands has sent friends and business associates a book he has recently read along with a letter discussing the work. The gift is designed to be both thoughtful and thought provoking.

Stock index futures pointed to a slightly higher open on Wall Street on Friday following the previous session's strong gains, with futures for the S&P 500 up 0.24 percent, Dow Jones futures up 0.19 percent and Nasdaq 100 futures up 0.15 percent at 0944 GMT.

Treasury Secretary Timothy Geithner indicated U.S. patience on China's currency policy was wearing thin on Thursday as a key lawmaker warned that he would move soon on legislation that would penalize Chinese goods.

World equities extended their relief rally into a fourth day on Friday on optimism over global economic growth, while the euro steadied as it ran into headwinds above $1.21 after three days of gains.

Asian stocks rose for a fourth day on Friday on optimism that the world economic recovery was on track despite Europe's debt woes, while the euro was steady after a rally the previous day.

World oil prices edged down in Asian trade Friday mainly after yet another Chinese data, industrial output for May, influenced it negatively. Light sweet crude for July delivery was seen trading at $75.19 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 75.05 a barrel in London.

Gold recovers marginally in Asian trade Friday after an overnight drop of nearly one percent while ETF holdings rose to another record. Gold for immediate delivery was seen trading at $1219.54 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1221.81 an ounce.

Chrysler is generating the cash needed to rebuild its product portfolio as sales continue to gain momentum, Chief Executive Sergio Marchionne told employees on Friday.