IBT Staff Reporter

Wheat posted declines on Friday on concern of reduced global demand as India, the second largest consumer shifts to purchasing grain from local producers.

Gold edged higher on Friday after two-day slump, as energy cost increased and the U.S. dollar gained against other major currencies.

Nigeria is expected to lose around 50 percent of its current oil production as strike by workers and attacks by rebels have forced its two biggest oil firms, Exxon Mobil and Royal Dutch Shell, to close its oil production, pushing oil prices near all-time high on Friday.

Lenovo confirmed its intentions to distribute sell and support VMware's virtualization platform in server systems sold in China.

Goodyear Tire & Rubber Co reported stronger-than-expected quarterly profit on Friday with price hikes offsetting the rising cost of raw materials and favorable exchange rates.

Crude oil rose more than $2 on Friday as rebel attacks hit a pipeline in Nigeria and strikes at an Exxon Mobil refinery in Africa and an Ineos Group refinery in Scotland may reduce supplies to the market.

CNET Networks and Yahoo announced a partnership on Friday that will allow CNET to provide content to Yahoo sites and cross-sell advertising.

U.S. stocks fell for the first time in three days on Friday after data reported the biggest drop in consumer confidence in 26 years, a drop in Microsoft Corp.'s sales and crude oil price soared on reports of unrest in the Gulf.

The Bombay Stock Exchange (BSE) Sensex climbed 0.14 percent or 23.04 points, Thursday, as market investors showed low appetite for risks, waiting warily for corporate results and central bank's monetary policy review next week.

State-run Central Bank of India has posted a decline in net profit for the fiscal quarter ended March 31, 2008 of 14.7 percent, at Rs.127.20 crore ($31.8 million) as against Rs.149.13 crore ($37.28 million) in the corresponding quarter a year earlier.

India's second largest private sector bank, HDFC Bank has posted a 37 percent rise in net profit for the fiscal quarter ended March 31, 2008, at Rs.471.10 crore ($117.77 million) as against Rs.343.57 crore ($85.89 million) for the corresponding period a year earlier.

Maruti Suzuki Ltd, market leader of India's automotive industry, has posted a decline of 34 percent in net profits for the quarter ended March 31, 2008, on account of a large depreciation charge which outweighed higher sales.

A study carried out by a Russian physicist and computer programmer suggests that president-elect Dmitri Medvedev has won the polls by rigging the votes even as Russia's President Vladimir Putin's powers have been boosted by his decision to lead Russia's biggest political party, United Russia after stepping down as Kremlin leader next month.

Anil Dhirubhai Ambani Group's (ADAG) flagship company and India's second largest mobile services provider, Reliance Communications said it has acquired eWave World, a UK-based WiMax operator for an undisclosed sum.

Dollar extended gains yesterday continuing recovery from the record low levels against the Euro finding support in slightly encouraging data from the US Labor market.

Sterling fell against the dollar yesterday on weaker retail sales data and also due to the strong recovery in the counterpart.

The FTSE 100 share index fell 32.9 points to 6,050.7 on Thursday (down 0.5 per cent).

Pharmaceutical giant AstraZeneca Plc has reported a rise in fourth quarter sales of 10 per cent to $7,677 million. The company's pre-tax profit however was down 5.0 per cent to $2,143 million.

Persimmon Plc has said that the last three weeks have seen a further deterioration of the housing market in the UK thanks to the unprecedented tightening in the mortgage market.

Domino's Pizza today held its AGM and announced a rise in system sales of 21.3 per cent to £105.3 million in the 16 weeks to 20 April 2008. The company also said that its like for like sales in the period jumped 13 per cent.

Punch Taverns has released its interim results for the 28 weeks to 1 March 2008. The company which owns over 8,400 pubs in the UK said that its pre-tax profits increased 1.0 per cent to £133 million compared to the same period last year.

Air China Limited, the world's largest carrier by market value, earned a net profit in the first quarter of 1.04 billion Yuan (148.6 million US dollars), or 0.09 Yuan per share, which is 147 percent higher than the same period of last year.

Juniper networks, the second largest network equipment maker, said profit rose 66 percent in its first quarter and raised its outlook for the year.

China's Baidu.com, Inc. just posted a net profit of 144.6 million Yuan in the first quarter, 71.5 higher than the same period of last year.

The dollar declined slightly against the euro on Friday, mostly holding on to gains a day earlier on a report showing strength in the U.S. labor market and rising concern in Europe over sharp shifts in currency values.

Wright Medical Group Inc. reported on Thursday its revenue in the first quarter was of $115.9 million which compared to $94.3 the same period last year, represents an augment of 23 percent.

Universal Health Services Inc. reported on Thursday its net profit for the first quarter rose to $61.7 million or $1.20 per share compared to $49.5 million or 92 cents per share in the same period the previous year, aligning with forecasts.

American Express said its first-quarter profit fell 6 percent amid in what the company's chief executive called a weak and uncertain U.S. economy.

The Federal Communications Commission said on Thursday it supports a bid by AT&T Inc to waive rules which require the company to provide information on its costs to regulators.