(Reuters) - U.S. stocks edged lower on Thursday as the recent rally and light volume left investors reluctant to take on much more risk before the new year, despite a solid batch of economic data. New U.S. claims for unemployment benefits dropped 34,000 to a seasonally adjusted 388,000, the Labor Department said, the lowest reading since early July 2008. That was well below economists' expectations for 415,000.

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(Reuters) - World stocks approached their highest level since September 2008 on Thursday on optimism about global growth next year, while the dollar fell on expectations of further money printing in 2011 by the U.S. Federal Reserve. European shares bucked the rise in global equities, dipping slightly as energy stocks fell, but U.S. stock index futures pointed to a steady open on Wall Street.

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(Reuters) - The dollar's share of known global currency reserves slipped in the third quarter, while total central bank holdings hit a record $9 trillion, International Monetary Fund data showed on Thursday. Between July and September, the U.S. dollar's share of the roughly $5 trillion of world reserves of which the composition is known fell to 61.3 percent from 62.1 percent in the prior quarter.

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(Reuters) - Groupon, a three-year-old online local advertising company, said on Thursday it raised $500 million as part of an effort to generate $950 million in financing. It disclosed the funding in a filing with the U.S. Securities and Exchange Commission. The online discount coupon company, which specializes in local advertising, raised the funds after reports last month that it was in talks to sell itself to Google Inc for up to $6 billion, in what would have been the web advertising giant's biggest ever acquisition.

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(Reuters) - China defended its export controls on rare earth minerals on Thursday, saying that they were in line with World Trade Organization rules, after a government move to slash export quotas on rare earths sparked trade concerns. China, which produces about 97 percent of the global supply of the metals used in the production of numerous high-tech products, cut its export quota by 35 percent for the first half of 2011 compared with a year earlier, saying it wanted to conserve reserves.

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(Reuters) - The United States is losing its appeal as leading global center for stock market flotations, hit by restrictive regulations and competition from other financial centers, a survey of American lawyers showed on Thursday. Just over 70 percent of a 50-strong sample of transaction attorneys, whose firms advised on three-quarters of initial public offerings (IPO) listed on major U.S. exchanges this year, said the country is losing its attraction as IPO venue of choice.

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(Reuters) - A two-speed global recovery will extend into 2011, with developed countries growing slowly while emerging-market economies power ahead, the International Monetary Fund's chief economist predicted on Thursday. In an interview with the lender's online magazine, IMF Survey, Olivier Blanchard said the necessity for countries to rebalance their economies by letting exchange rates adjust more freely while taking steps to control debt remains vital. "Without this global rebalancing, there will no healthy recovery," he said.

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(Reuters) - OPEC output has risen slightly in December as Nigerian supply has increased, a Reuters survey found, indicating the group has yet to boost production substantially in response to prices at a 26-month high. Supply from the 11 members of the Organization of the Petroleum Exporting Countries with output targets, all except Iraq, has averaged 26.75 million barrels per day (bpd) this month, up from 26.70 million bpd in November, according to the survey of oil companies, OPEC officials and analysts on Thursday.

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(Reuters) - Ford Motor Co is recalling about 20,000 new vehicles in North America, mainly its heavy duty pickup trucks, due to the chance than an electrical short could cause a fire, Ford and U.S. federal regulators said on Thursday. Ford will inform owners of its F-series pickups, small sports utility vehicles Edge and Lincoln MKX of the potential problem by January 10, according to a filing with the U.S. National Highway Traffic Safety Administration.

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(Reuters) - The European Union should set up a permanent mechanism to resolve sovereign debt problems sooner than the planned 2013, European Central Bank Governing Council member Ewald Nowotny said on Thursday. Eurozone reforms, including making the stability and growth pact more effective, must be implemented quickly to "create a clear framework," Nowotny said in a statement sent out by the Austrian Central bank. "It cannot be ruled out that individual eurozone countries will face challenges," Nowotny further said.

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