Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards.» Read More
*Wells Fargo shares off, profit higher than estimates. NEW YORK, Jan 11- U.S. stock index futures were little changed on Friday, a day after the S&P 500 hit a five-year high and following higher-than-expected results from Wells Fargo.
*ArQule shares down 23 pct before the bell. Jan 11- ArQule Inc and Japan's Daiichi Sankyo Co Ltd said a mid-stage trial of their colorectal cancer drug failed to meet the main study goal of improving patient survival without the cancer getting worse, sending ArQule's shares tumbling before the bell. ArQule shares were down 23 percent at $2.25 before the bell.
The Commerce Department said on Friday the trade gap increased 16 percent in November to $48.7 billion. While the Commerce Department does not release seasonally adjusted data for the U.S. trade deficits with countries and regions, the U.S. goods trade gap with China fell 1.7 percent from October. with a drop in exports outweighing a slighter fall in imports.
WASHINGTON, Jan 11- Prices declined for U.S. imports and exports in December, a sign of the chill in the global economy that is hurting exporters but giving respite to U.S. drivers stung by high fuel prices. Overall import prices fell 0.1 percent, in line with the expectations of economists polled by Reuters, Labor Department data showed on Friday.
DAR ES SALAAM, Jan 11- Tanzania faces the prospect of increased tension over natural resources following discontent in a region in the south of the country after some residents there demanded they get a bigger share of the benefits of a natural gas boom.
*China December inflation at seven-month high. LONDON, Jan 11- Oil tumbled towards $110 a barrel on Friday on growing concern that oil demand may be weakening in the short term as global economic activity remains subdued. Brent futures dropped $1.51 to $110.38 per barrel by 1315 GMT.
At the start of 2012, no one could have foreseen the drought that decimated a historically high planted area for U.S. corn, or deadly violence in the Middle East and in South Africa's mining sector, or the extent of China's economic slowdown.
Jan 11- Wells Fargo& Co on Friday said fourth-quarter profit r ose 24 percent t o a record high as the bank set aside less money to cover bad loans and made more fees from mortgages.
*Trading subdued ahead of key USDA report at 1700 GMT. The USDA will issue data on global supply and demand, U.S. corn and soy production, quarterly U.S. grain inventories and U.S. winter wheat plantings at 1700 GMT. Dealers said the rise in corn prices this week had partly reflected expectations that the USDA would cut its forecast for U.S. production to a six-year low.
LONDON, Jan 11- The latest forecasts from a foremost climate research institute that global warming has slowed present a new challenge to policymakers on how to inject urgency into the campaign to cut emissions of greenhouse gases.
Jan 11- Merck& Co Inc said it would withdraw its cholesterol drug Tredaptive from markets worldwide after European regulators recommended that marketing of the drug be suspended. The drug was under review in Europe after the failure of a major study raised safety concerns.
Jan 11- Wells Fargo& Co on Friday reported a higher fourth-quarter profit as the bank set aside less money to cover bad loans and made more fees from mortgages. The fourth-biggest U.S. bank said net income was $5.1 billion, or 91 cents a share, compared with $4.1 billion, or 73 cents a share, in the same period a year earlier.
Jan 11- Xerox Corp said Chief Financial Officer Luca Maestri will leave the company in February to join Apple Inc as corporate controller. Xerox said it had started an external search for a new CFO. Maestri joined Xerox as CFO in February 2011 after serving as chief financial officer of Nokia Siemens Networks since 2008..
LONDON, Jan 11- The yen regained some ground against the dollar on Friday as investors took profits after the U.S. currency soared to a 2 1/ 2- year high on increasing bets of further easing by the Bank of Japan.
Jan 11- ArQule Inc and Japan's Daiichi Sankyo Co Ltd said a mid-stage trial of their colorectal cancer drug failed to meet the main study goal of improving patient survival without the cancer getting worse.
LONDON, Jan 11- Pan-European bank and financial market regulators called on Friday for a reduction in banks' influence on how the Euribor benchmark rate is set and seeking more regular checks to ensure figures are not manipulated.
Niklas Zennstrom, co-founder of Skype, believes the next hot tech business can come from anywhere around the globe.
Jan 11- Royal Bank of Scotland is set to pay large fines for its role in rigging the Libor interest rate. April 3, 2007- RBS leads a consortium along with Fortis and Spain's Santander to buy Dutch bank ABN AMRO. In October, the consortium wins a bidding war against Barclays for ABN AMRO with a 70- billion-euro offer, making it the biggest banking takeover in history.
Best Buy Friday slashed its expectations for 2013 free cash flow after it had to pay for inventory earlier than expected during a critical time for the world's largest electronics chain. Shares of Best Buy fell 2.4 percent to $11.92 in premarket trading.
*Boeing drops as Dreamliner hit by two more incidents. *Best Buy shares drop after holiday revenue report. NEW YORK, Jan 11- U.S. stock index futures were little changed on Friday, a day after the S&P 500 hit a five-year high and ahead of earnings from Wells Fargo, the first big bank to report this season.