World Business News

New auto sales in June raced past expectations on lower gas prices and still-generous incentives, and are on track to score their best year since 2007.

Oil surged on Friday in heavy trading to the fourth biggest daily gain on record, as a deal by European leaders to shore up euro zone banks triggered frantic short-covering by funds that had been riding crude's price collapse over the last quarter.

With the US and European markets battling slowdown, India's largest software company Tata Consultancy Services (TCS) on Friday said it is looking at opportunities in Australia and Middle East for growth.

Japanese manufacturers are less pessimistic about business conditions, the Bank of Japan's (BOJ) latest Tankan survey showed.