Morning Business Round-up: Unrest stalks oil markets

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What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Billionaire investor George Soros has issued a stern warning that the world's major oil and gas producers must do more for their populations.

Mr Soros tells the BBC that oil nations with their people to avoid further popular uprisings.

Reports that fighting in Libya has intensified and that there are protests in Saudi Arabia led to a rise in the oil price.

But despite the reports, the fears that have stalked world share markets recently appeared to be receding amid more positive corporate and economic news.

European bourses on Friday were making further gains, following overnight advances in Tokyo and on Wall Street. However, the key focus for the markets on Friday will be the release of US non-farm payrolls data for February.

There was good news from WPP, the world's largest advertising agency and an indicator of the health of the global economy. WPP saw profits rise by almost a third in 2010, with the US improving markedly.

Media caption,

Biz Heads

And after recent tensions between America and China over currencies, US Treasury Secretary Timothy Geithner said Beijing was now taking steps to rebalance its trade policy.

There is, however, concern among China's near neighbours after Beijing's decision to beef up military spending in 2011.

The intriguing saga of alleged industrial espionage at Renault took another twist after the carmaker cast doubt on claims it was the victim of spying.

Meanwhile, at another car company, Volvo, chief executive Stefan Jacoby, tells our man at the Geneva Motor Show, Jorn Madslien, how he intends to re-invent the Swedish company now it is free from former parent Ford.

And for fans of business and sport, we look at how NBA basketball is looking to net more European fans.

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