Oil rose near $88 a barrel yesterday, after a late surge in US stock indices helped cool simmering fears of a recession in top energy consumer the United States.
EBay Inc, the world's largest Internet auctioneer, will cut fees on diamond bracelets and Batman movie posters as incoming Chief Executive Officer John Donahoe tries to boost slowing sales growth.
Nokia Oyj, the world's biggest maker of mobile phones, said fourth-quarter profit increased 44 percent as it took market share and shipments rose to a record.
European stocks declined after European Central Bank President Jean-Claude Trichet said he's committed to fighting inflation, damping optimism that borrowing costs may drop anytime soon.
Ford Motor Co, the automaker that lost a record $12.6 billion in 2006, may report a narrower fourth-quarter loss after Chief Executive Officer Alan Mulally closed plants and cut jobs in his first full year on the job.
European stocks rose after the US Federal Reserve cut interest rates in an emergency move to help thwart recession. Barclays Plc and BNP Paribas SA led gains by banks.
The US economy may be "one shock" away from a recession, Lehman Brothers Inc said, pointing to the global slump in equity markets as a possible "tipping point".
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