PRECIOUS METAL: A weak US dollar and soaring oil prices boosted gold futures for April delivery to US$1,001.50 on Thursday, the highest ever for a most-active contract
Gold was little changed in Asia yesterday after breaching US$1,000 for the first time as investors turned cautious, gauging the extent of a US economic slowdown and prospects for a prolonged global credit crisis.

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The co-founder of US private equity giant the Carlyle Group said in an interview published yesterday that his company was analyzing ways to compensate investors in a failed investment fund.

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French banks BNP Paribas SA and Credit Agricole SA are among the financial institutions that lent money to Carlyle Capital Corp (CCC), which on Thursday said it defaulted on about US$16.6 billion in debt.

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IRON ORE: Although the Australian prime minister did not comment on the bid, he has vowed to block any foreign takeover that is not in Australia's interest
China's state-backed Sinosteel Corp (中國中鋼) yesterday launched a A$1.2 billion (US$1.1 billion) takeover bid for iron ore miner Midwest in the first hostile approach by a Chinese company for an Australian firm.

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US economic policymakers have recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.

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Japan's Hitachi Ltd said yesterday it expected to spend a second straight year in the red, incurring a net loss of almost US$700 million as its flat-screen television business slumped.

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■ INTERNET

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