IBT Staff Reporter

ROYAL BANK OF SCOTLAND (RBS.L) Mandate: The bank has opened books on a debut three-year covered euro bond, an official with one of the banks managing the sale said. Guidance: Mid-swaps plus 125 bps area.

World oil consumption fell by 1.2 million barrels per day in 2009, the second consecutive annual decline and the largest volume since 1982, BP said in its annual Statistical Review of World Energy released on Wednesday.

Apple's iPad, initially viewed as a Web entertainment gadget for consumers, is quickly making inroads across businesses in Asia as wedding planners, luxury hotels and airlines hook up to the tablet computer.

Japan's Hitachi Ltd said on Wednesday it still expects to win an order for a large train project in Britain, but it acknowledged that some modifications to the $11 billion deal were likely.

Major Asian oil buyers including India and China bought comparatively less loads of West African oil in June. According to reports, Indian, Chinese Taiwanese and Indonesian end-users bought a total of 1.65 million barrels per day (bpd) of crude from the oil-exporting region in 52 full or part cargoes, down from 1.72 million bpd in 56 cargoes in May.

Europe's debt crisis could disrupt global trade, hurting demand for Asian exports and sending hot money into the region if policymakers fail to act swiftly and appropriately, a top IMF official said on Wednesday.

European shares pushed higher on Wednesday, tracking gains in most Asian equity markets, as news of strong Chinese exports sparked a tentative return of risk appetite while the euro stabilized on options demand.

As driven by a late-rally in the Wall Street, WTI crude oil price ended the day with small gains. After market close, API's report showing a dip in crude inventory boosted the market further. However, we doubt if the strength can sustain as sovereign crisis in the Eurozone has shown intensified signs of contagion. Gold price retreated after hitting a new record at 1254.5. Yet, outlook is still bullish for the yellow metal as long as worries over deficits problems persist and uncertainty over glo...

Most Asian stock markets clawed back early losses on Wednesday and the euro stabilized as news of stronger-than-expected exports from China offset worries that Europe's debt problems will stifle demand for Asian goods.

Sprint Nextel Corp said on Tuesday it had inadvertently overstated the launch day sales of the much anticipated EVO 4G phone from HTC Corp, which is touted as a serious competitor to Apple's iPhone 4.

Global grain output is forecasted to be at 1.60 billion metric tons in 2010-11 period due to expected increase in production in US, South America and Australia, according to Germany-based analytical firm, FO Licht.

Gold prices continued its northern journey in Asian trade Wednesday as concerns over European debt crisis escalated. Gold for immediate delivery was seen trading at $ 1237.43 an ounce at 11.00 a.m Singapore time while U.S. gold futures for August delivery eased after hitting an all-time record overnight. The contract was seen trading at $1236.59 an ounce at 11.00 a.m Singapore time on the comex division of Nymex.

The U.S. economy is well on the path to recovery and the Federal Reserve needs to begin raising interest rates soon, Kansas City Fed President Thomas Hoenig said on Tuesday.

What is your Prediction for Gold in 2010 and 2011 Many are projecting gold to perhaps double in the span of one to two years. I think this would only be the case under one or two very severe circumstances. The most prominent threats are that the euro is abandoned or substantially restructured or there are a series of prominent downgrades amongst the major economies.

Three former executives at Chicago-based hedge fund Citadel are launching a computer-driven fund, the Wall Street Journal reported on Tuesday.

The euro remained fragile on Wednesday, although it held above a recent four-year low on the dollar, and higher-risk currencies such as the Australian dollar gave back gains as Asian share markets fell.

Free video website Hulu plans to soon begin charging customers and is looking to expand its content to consumer devices like the Xbox and iPad, according to two sources, as the site's media owners experiment with platforms beyond an ad-supported TV model.

The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.

Microsoft Corp issued one of its biggest security fixes on Tuesday, including a repair to its widely used Excel spreadsheet for flaws that could allow hackers to take control of a user's PC.

The U.S. patent office rejected two patent claims by video recording technology company TiVo in a battle with Dish Network and EchoStar over digital video recorders.

The Australian Dollar has opened firmer this morning, trading at USD0.8260 following on from yesterday's lead, as equity markets offshore posted gains. Gains in base metal prices also helped support the AUD, with copper up 1.1%, nickel up 1.5% and aluminium +2.8%.

European leaders are committed to ensuring the survival of the euro and have enough money to meet obligations of heavily indebted member countries, Federal Reserve Chairman Ben Bernanke said on Monday.

Microsoft Corp issued one of its biggest security fixes on Tuesday, including a repair to its widely used Excel spreadsheet for flaws that could allow hackers to take control of a user's PC.

Texas Instruments Inc said second-quarter earnings and revenue would be at the high end of its previous estimates, citing strong broad-based demand for its chips, particularly from industrial customers.

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The Australian Dollar climbed almost 1 cent during the local session yesterday despite a weaker than expected reading from the NAB Business Confidence Survey.

Thirteen big record companies want to freeze assets of the provider of popular file-sharing service LimeWire, accusing its founder of fraudulently trying to evade hundreds of millions of dollars in damages over copyright infringement.

Lehman Brothers Holdings Inc is seeking Bankruptcy Court permission to make another $255 million debt investment in a New York office building, saying doing so would protect its existing investment.

iPhone maker Foxconn International Holdings Ltd said it will seek higher prices from clients to help offset wage increases at a plant in southern China that has been hit by a series of suicides.