NEW YORK - BUYERS returned to the stock market after two days of heavy losses on Friday, mindful of a worse-than-expected employment report but attracted by stocks' lower prices.

The Labor Department said the nation's employers cut 240,000 jobs in October, hurtling the US unemployment rate to a 14-year high of 6.5 per cent. The market had expected employers to cut 200,000 jobs and for the unemployment rate to rise 6.3 per cent.

OFFSHORE and marine company Sembcorp Industries posted a 24.8 per cent jump in net profit to $144.9 million for the third quarter, on the back of a strong showing from its utilities and marine businesses.

Revenue for the three months ended Sept 30 rose 11.7 per cent to $2.5 billion. The group's utilities segment posted 33 per cent higher profits for the three months from the transfer of transmission and distribution pipeline assets to PowerGas, the group said.

LONDON - WORLD leaders thrashed out ways of combatting the global financial crisis on Friday as plunging profits in the airline industry underscored fears of a protracted recession.

Incoming US president Barack Obama was to convene a meeting of his top economic advisers at talks in Chicago after discussing the current financial turmoil with the leaders of nine US allies in a series of phone calls.