Corn jumps on cutback in US forecast

Corn rose for a sixth day to a record in Chicago, leading gains in soybeans, wheat and rice, after the United States cut its output estimate by 3.2 percent from a May forecast.

Euro up amid speculation of interest rate rise

The euro snapped a two-day decline against the dollar on growing speculation the European Central Bank will raise interest rates next month while the Federal Reserve leaves borrowing costs unchanged.

Stock-index futures climb

US stock-index futures advanced after Staples Inc won a fight to purchase Corporate Express NV and Biogen Idec Inc said it got a $15 billion buyout offer from Carl Icahn, fueling speculation takeovers may boost share prices.

IN BRIEF (Page 17)

Business International

US trade gap widens in April

The US trade deficit widened in April as the surging cost of oil boosted imports to a record, overshadowing the biggest gain in exports in four years.

Markets remain in the doldrums

US stock-index futures declined, following markets in Europe and Asia lower, after analysts said Lehman Brothers Holdings Inc must unload more mortgage loans and speculation mounted that interest rates will rise.

World Bank cuts growth forecast

Global economic growth will probably slow to 2.7 percent this year from 3.7 percent in 2007, checked by spiraling food and energy prices and the subprime credit crisis, the World Bank said.

Oil rises amid supply concerns

Crude oil rose more than $1 a barrel as Merrill Lynch & Co and Citigroup Inc increased their price forecasts amid concern that supply from outside OPEC isn't climbing as fast as expected.

IN BRIEF (Page 17)

Business International

Gasoline hits record $4 a gallon in US

US gasoline rose to $4 a gallon at the pump for the first time, threatening to further shake the confidence of consumers whose spending makes up two-thirds of the economy.