PRECIOUS METALS: Prices surged on expectations of further US interest rates cuts and a fiscal stimulus package. Platinum also got a boost from problems with supply
Gold and platinum hit all-time highs yesterday on dollar weakness, supply concerns, firm oil and expectations of more interest rate cuts in the US.

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GOING STRONG: Strategy Analytics forecast another 10 percent growth this year, backed by strong demand from emerging regions, particularly Africa
More than 1.1 billion mobile phones were sold around the world last year, and developing countries in Africa and elsewhere should keep the momentum up this year, a study released on Thursday showed.

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Morgan Stanley, Lehman Brothers Holdings Inc and Credit Suisse Group are eliminating about 1,640 jobs as the worst US housing market in 26 years slows economic growth and their profit outlook.

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US newspapers' online audiences grew about 6 percent last year, an industry group reported on Thursday, a rare bit of good news for an industry struggling to adapt as readers and advertising dollars continue to migrate online.

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The volume of US corporate debt issued by companies in severe financial distress rose this month to the highest level in more than four years, suggesting corporate defaults are likely to surge in coming months, Standard & Poor's said on Thursday.

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