The top one percent of households in Communist-ruled China control more than one third of the country's wealth, while the bottom 25 percent control just one hundredth, official media said, citing an academic report.

The 2012 figures contained in a Peking University report released late Friday reveal the massive breadth of China's social inequality, a widespread source of anger in the country.

Global food and dairy group Danone reported a first-half profit slump on Friday, blaming weak emerging currencies and the effects of a false food scare last year which hurt China sales.

Net profit fell by 37.0 percent from the equivalent figure last year, but the French-based group said that this was partly because an asset sale had inflated the 2013 figure.

The crises in Ukraine and the Middle East are eroding business confidence in Germany, Europe's top economy, a key indicator showed on Friday.

The Ifo economic institute's closely watched business climate index fell sharply to 108.0 points in July from 109.7 points in June -- the third drop in a row, to the lowest level since October 2013.

Turkey on Friday inaugurates the first high-speed train link between its main cities of Ankara and Istanbul, in the latest bid by Prime Minister Recep Tayyip Erdogan to modernize the country's infrastructure.

After years of constant delays that has seen the project become a standing joke among Turks, Erdogan on Friday evening is due to glide into Istanbul aboard the first train.

Internet retail titan Amazon on Thursday reported a money-losing quarter despite impressive growth in sales, sending shares plummeting by more than 10 percent.

The Seattle-based firm said that it had a net loss of $126 million in the quarter that ended June 30, widening the deficit from $7 million in the same period a year earlier.

British satellite television group BSkyB said on Friday it had agreed multi-billion-dollar deals with Rupert Murdoch's media empire 21st Century Fox to create a pan-European pay-TV giant.

Murdoch's 21st Century Fox media conglomerate owns 39 percent of BSkyB.

South Korea's Kia Motors said Friday its second-quarter profit fell 13.3 percent year on year, as a pick-up in sales was offset by a stronger won that hurt exports.

Net profit for April-June at the country's second largest auto maker came to 1.02 trillion won ($988 million), with unit sales up 4.3 percent year on year.

Ukrainian President Petro Poroshenko said on Thursday he was "very disappointed" by France's decision to go ahead with a deal to sell two warships to Russia, despite international condemnation of Moscow's role in the east Ukraine conflict.

"It's not a question of money, industry or jobs. It's a question of values," Poroshenko said during a meeting with European parliament deputies.

Iraq exported 2.42 million barrels of oil per day in June, the month of a jihadist offensive, the oil ministry said, falling far short of a budgeted projection of 3.4 million bpd.

Ministry spokesman Assem Jihad said June exports generated revenue of $7.47 billion, or $600 million less than in May, despite higher oil prices.

Standard Chartered bank stood behind its top management on Thursday after a report pointed to a possible boardroom shake-up at the bank which is focused on emerging markets.