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Rosy China growth forecasts fade on further signs of slowdown
BEIJING (Reuters) - As evidence mounts that China's economy is losing momentum, economists are fast abandoning their rosy recovery forecasts and bracing for what could be the country's slowest growth rate in 23 years.

Durable goods orders point to factory resilience
WASHINGTON (Reuters) - Orders for long-lasting U.S. manufactured goods rose more than expected in April, a hopeful sign that a sharp slowdown in factory output could soon run its course.

Henrik Fisker joins Hong Kong tycoon to salvage Fisker: sources
DETROIT/BEIJING (Reuters) - Henrik Fisker is working with an investor group to salvage Fisker Automotive, the "green" car company he co-founded nearly six years ago that is now struggling to stave off bankruptcy, people familiar with the matter said this week.

Syria opposition seeks to unify as momentum for talks builds
ISTANBUL (Reuters) - Syria's fractious opposition scrambled to agree a new leadership on Friday in a bid to present a coherent front at peace talks which the United States and Russia are convening to seek an end to more than two years of civil war.

Stretched by riots, Swedish police call reinforcements
STOCKHOLM (Reuters) - Police in Stockholm called in reinforcements on Friday after youths set cars and a school ablaze in a fifth night of rioting, the worst to hit Sweden for years.

Former Giro winner Di Luca tests positive for EPO
(Reuters) - Former Giro d'Italia winner Danilo Di Luca has been provisionally suspended after testing positive for the banned blood booster erythropoietin (EPO), the International Cycling Union (UCI) said on Friday.

World rowing body's chief Oswald runs for IOC top job
LONDON (Reuters) - World rowing federation (FISA) boss Denis Oswald became the fifth candidate for the International Olympic Committee (IOC) presidency on Friday, with the Swiss sports administrator citing his long experience as an asset.

Etisalat makes top bid for Vivendi's Maroc Tel: sources
PARIS/LONDON (Reuters) - Gulf telecom operator Etisalat has offered a higher price for Vivendi's Maroc Telecom stake than rival Qatari bidder Ooredoo, according to two people familiar with the matter.

Pakistan should consider IMF deal after reforms in place: adviser
LAHORE, Pakistan (Reuters) - Pakistan's new leadership expects first results of its planned steps to shore up its finances and ease a power crisis in two or three months and only then should decide whether and on what terms to seek an IMF bailout, a senior policy adviser said on Friday.

One Direction sweeps awards for most popular social media stars
SINGAPORE (Reuters) - British boy band One Direction has swept the inaugural awards recognizing the most popular people in social media globally, coming top in four out of 10 categories at a star-studded ceremony in Singapore.

Television wins new respect from movie elite at Cannes festival
CANNES (Reuters) - Actors and directors gathered for the world's leading movie showcase in Cannes this week said television was increasingly luring top talent and should no longer be seen as artistically inferior to the big screen.

Taliban attack U.N. compound in Afghan capital: police
KABUL (Reuters) - Taliban militants launched a coordinated attack on a U.N. compound in the center of the Afghan capital, Kabul, on Friday setting off explosions and battling the security forces.

Spain's Princess Cristina faces new tax probe
MADRID (Reuters) - A Spanish judge has opened an investigation into Princess Cristina's tax returns after an earlier charge of being an accomplice in an embezzlement case against her husband was dropped.

Insight: Luxury brands position for U.S. boom
PARIS/NEW YORK (Reuters) - Most men might balk at spending $600 on a pair of Dior sneakers but for U.S. shoppers like Ephraim, an upbeat 30-year-old, such indulgences are becoming increasingly commonplace.

China solar companies shun home market in pursuit of margins
(Reuters) - Chinese solar panel makers are shunning their overcrowded home market in favor of lucrative exports, a switch that has helped to arrest a two-year slump in margins and push shares to 12-month peaks.

Wall Street slips on angst over longevity of Fed stimulus
NEW YORK (Reuters) - Stocks fell for a third day on Friday amid lingering concern the central bank may scale back its support to the economy.

UK fighters escort Pakistan plane to airport, two arrests
LONDON (Reuters) - British fighter jets escorted a Pakistan International Airlines passenger plane to Stansted Airport near London on Friday, where police went on board and arrested two men on suspicion of endangering an aircraft.

Spain's Princess Cristina faces new tax probe charge
MADRID (Reuters) - A Spanish judge has opened an investigation into Princess Cristina's tax returns after an earlier charge of being an accomplice in an embezzlement case against her husband was dropped.

News Corp's publishing business to initiate stock buyback
(Reuters) - News Corp set the distribution ratios for the spinoff of its publishing business and said the spinoff may start buying back stock right away.

Britain scrambles fighters as Pakistani airliner diverted
LONDON (Reuters) - Britain launched fighter jets on Friday to escort a Pakistan International Airlines passenger plane arriving from Lahore in Pakistan to an airport near London after it was diverted from Manchester, the Defence Ministry said.