IBT Staff Reporter

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.

Japan will pledge to cap new bond issuance next fiscal year at the record sum earmarked for this year, National Strategy Minister Satoshi Arai said, as the new government struggles to convince markets of its resolve to fix the country's tattered finances.

The euro ran into headwinds above $1.21 on Friday, as profit-booking set in when it failed to push through hefty resistance, and investors took a lack of surprises in Chinese data to book gains in the Aussie dollar.

Chinese inflation quickened to a 19-month high in May, but a moderation of growth in factory production and capital spending could further ease worries that the world's third-largest economy runs the risk of boiling over.

Japan's new Finance Minister Yoshihiko Noda said on Friday he had agreed with U.S. Treasury Secretary Timothy Geithner in a phone call earlier in the day to closely monitor developments in Europe.

U.S. regulators will most likely find that a confluence of events caused the unprecedented stock market flash crash in early May, Securities and Exchange Commission Chairman Mary Schapiro said on Thursday.

Kenneth Starr, an investment adviser to celebrities and other wealthy New Yorkers, defrauded clients of at least $59 million over the last five years, according to a U.S. grand jury indictment on Thursday.

The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers, including those of several high-ranking government officials.

U.S. technology companies hope a preliminary World Trade Organization ruling expected on Friday will persuade the European Union to drop tariffs on three products at the center of the dispute.

U.S. lawmakers proposed no new limits on banks on Thursday as they met to hammer out a final overhaul of Wall Street regulations, but they voiced strong support for measures that directly threaten industry profits.

The Australian Dollar has opened more than one US cent higher today, buoyed by improved investor sentiment on the global economic recovery.

The high bid for a steak lunch with Warren Buffett has reached $900,100, with a little over a day to go in the annual charity auction.

The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers.

Policy makers reacting to the global financial crisis should avoid overstepping with harsh new rules that would have adverse economic effects and resist the urge to score political points, industry heads warned on Thursday.

The Australian Dollar opens sharply higher today at 0.8490. During local trade on Thursday, the Aussie rallied above US83.50 cents after stronger-than-expected jobs data which provided further evidence of strength in the domestic economy.

The Federal Bureau of Investigation has opened a probe into a security breach of Apple Inc's iPad that exposed personal information of AT&T Inc customers.

The flash crash in U.S. stockmarkets that shook investors on May 6 may be the first of many as the market's herd mentality is exacerbated by ultra fast trading strategies that are rapidly spreading around the world and across asset classes, experts said on Thursday.

NEW YORK (Reuters Life!) - Social networking isn't only for the under 40s. More than 25 percent of Americans 50 years and older stay connected using sites such as Facebook, MySpace and Twitter, according to new research.

FIFA president Sepp Blatter will be giving his thoughts on football in slightly shorter bursts than usual after opening up a Twitter account just in time for the World Cup in South Africa.

Banks were under intense political pressure as a congressional panel negotiating a final Wall Street reform bill convened its first meeting on Thursday.

Stocks posted their best day in the last nine on Thursday in response to signs of health in the euro debt market and as investors snapped up energy shares crushed in the previous day's sell-off.

The president of Goldman Sachs Group Inc said on Thursday that there is no indication that the investment bank is close to settling U.S. fraud charges with the Securities and Exchange Commission.

The budget deficit fell in May compared to a year ago but remains on track to easily exceed $1 trillion, a Treasury Department report showed on Thursday.

The number of U.S. workers filing claims for jobless aid fell modestly last week as the labor market recovery struggled for momentum, while a slip in exports in April supported views of moderate economic growth.

The president of Goldman Sachs Group Inc said on Thursday that there is no indication that the investment bank is close to settling U.S. fraud charges with the Securities and Exchange Commission.

U.S. lawmakers tasked with hammering out a final version of financial-reform legislation will use as a starting point a bill that combines mortgage reforms passed by the House and the Senate, according to a summary obtained by Reuters.