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Jul 7 - Cashmere farmers in Mongolia struggle to survive as they produce one of the world’s most exclusive products.

The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concerns about higher prices and reduced choice for European customers of the mining concerns.

Both are British-Australian dual-listed companies mining and marketing iron ore, coal, uranium, aluminum, mineral sands, copper and diamonds and other base metals and industrial minerals.

Under European Union rules, the Commission now has until Nov. 11 to make a final decision.

Children stand amidst garbage alongside a “No Dumping” sign on the waterside in Port Harcourt, Nigeria, Monday, May 19, 2008.

Asian markets were mixed Friday as investors digested uneven readings on the U.S. economy and more record oil prices. Japan headed for its 12th straight day of losses.

Indonesia’s main index rebounded after selling off nearly 4 percent the prior session. Hong Kong and Australia equities also were higher.

With stocks hit hard recently, some investors were returning to the market. Others who bet on falling prices were starting to take profits, further supporting prices.

‘Investors are still bearish, we’ve been down a lot in the past few weeks. But even those bears are a bit hesitant on selling at this level,’ said Y.K. Chan, fund manager at Phillip Capital Management in Hong Kong.

UBS AG, Switzerland’s largest bank, said Friday it expects its second-quarter results to be ‘at or slightly below break-even’ due to a tax credit that will at least partly offset investment losses. It also said it won’t need to ask for more capital when it reports the results next month.

Analysts had been expecting a second-quarter loss of as much as $4.9 billion from the bank that has been hammered by big losses related to the U.S. subprime lending crisis.

Shares in the crisis-hit bank jumped 8.2 percent to 22.74 Swiss francs ($22.17) on the announcement but soon fell back as analysts noted that without the unexpected tax credit of 3 billion Swiss francs ($2.9 billion) that UBS would record a significant loss.

Nine people, including a prominent executive who fled to France in an attempt to elude justice, were convicted Friday of criminal charges in a major Austrian bank fraud case linked to the 2005 collapse of New York-based commodities brokerage Refco Inc.

Vienna Federal Court Judge Claudia Bandion-Ortner found the defendants responsible for euro1.4 billion (US$1.9 billion) in losses at BAWAG, Austria’s No. 4 bank.

The defendants include two former BAWAG executives, Helmut Elsner and Johann Zwettler, and U.S.-based investment banker Wolfgang Floettl.