Fed seen taking out a little rate cut insurance
The Federal Reserve is expected to lower benchmark borrowing costs modestly on Wednesday as an additional bulwark against the risk a housing slump and tighter credit drag down the rest of the economy.
Dollar edges up from record lows after strong data
The dollar rebounded from record lows against the euro and a major currency basket on Wednesday after advanced government estimates showed the U.S. economy in the third quarter grew at its fastest pace since the beginning of last year.
Citigroup enters pact to buy rest of Japan's Nikko
Citigroup Inc said on Wednesday it has signed an agreement to acquire all of Nikko Cordial Corp, Japan's third-largest brokerage, paying about $4.6 billion for the 32 percent it does not already own.
Economic growth rate edges up
A pickup in consumer spending and strong exports powered economic growth ahead at its fastest rate during the third quarter since the beginning of 2006, according to a government report on Wednesday.Gross domestic product that measures total production within U.S. borders unexpectedly edged higher to a 3.9 percent annual rate, up from 3.8 percent in the second quarter for the strongest quarterly growth since 4.8 percent in the first quarter of 2006.
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Global stocks subdued
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Google in talks with Verizon Wireless: sources
Google Inc is in active talks with number-two U.S. mobile carrier Verizon Wireless about putting Google applications on phones it offers, people familiar with the matter told Reuters on Tuesday. So far talks between the Web search leader and Verizon Wireless, owned by Verizon Communications and Vodafone Group Plc, revolve around technology and potential business models such as advertising-sponsored services, one of the people said.
Asian stocks, dollar subdued
Asian stock markets were subdued on Wednesday while the dollar wallowed near a record low against the euro with investors reluctant to take big positions ahead of the U.S. Federal Reserve's decision on interest rates.
Oil slides $4 to below $90 a barrel
Oil fell $4 to below $90 a barrel on Tuesday, plummeting from its record high in a broad commodity sell-off sparked by uncertainty over how aggressive the U.S. Federal Reserve will be in fueling economic growth.
No rate cut would spark question of what Fed knows
Federal Reserve policy-makers are widely expected to cut interest rates on Wednesday, but if they make no move, investors will wonder what the Fed knows that they don't and question its commitment to transparency.
Other CEOs under microscope as Merrill chief exits
The rapid fall of Stanley O'Neal from the helm of Merrill Lynch & Co Inc has left investors wondering who else in the banking industry may pay a price for the U.S. subprime mortgage crisis.
War on toys?
In the wake of recalls of millions of products manufactured in China, some US consumers have become wary.
Fed meets with chances high for small rate cut
Federal Reserve policy-makers began meeting on Tuesday against the backdrop of a still-plummeting U.S. housing market that is sapping consumer optimism and may require more interest-rate tonic.
Merrill Lynch ousts CEO O'Neal
Merrill Lynch & Co Inc ousted Chairman and Chief Executive Stan O'Neal on Tuesday, just days after reporting the biggest quarterly loss in the company's history, making him the highest-ranking casualty in the U.S. subprime mortgage crisis. Board member Alberto Cribiore will be interim chairman while day-to-day operations will be overseen by the firm's co-presidents, Ahmass Fakahany and Greg Fleming.
Bono's U.S.-based anti-poverty groups to merge
Anti-poverty groups the ONE Campaign and DATA, both co-founded by rock star Bono, will merge in the United States to form a single organization in tackling poverty, especially in Africa, officials said on Monday.
Gold off 28-year peak on profit taking
Gold retreated on Tuesday as investors took profits after the precious metal rose to its highest level in 28 years the previous day, lifted by record-high oil and a weak dollar, while silver hit an 8-month high.
Dollar pares gains after soft consumer sentiment
The dollar traded little changed against the euro and a major currency basket on Tuesday, paring some of its earlier gains due to data showing U.S. consumer confidence fell to its lowest in two years.
Japan's Resona likely to beat H1 f'cast by 20 pct
Japan's Resona Holdings Inc said on Tuesday it would likely beat its first-half profit forecast by 20 percent, helped by strong commissions and lower credit costs, and said it had no direct exposure to the troubled U.S. subprime mortgage market.
India says Doha trade talks "at last mile"
Leading negotiating nations are closer than ever before to concluding successfully the arduous Doha round of world trade talks, India's trade minister said on Tuesday, adding an end-2008 deadline could be reached.
Japan jobless rate jumps, spending firm
Japan's jobless rate rose unexpectedly last month, reinforcing expectations the Bank of Japan will delay its next rate rise, although household spending jumped more than forecast.
Takeda plunges on development woes, Eisai also hit
Shares in Takeda Pharmaceutical Co Ltd plunged 12 percent -- their biggest one-day fall in 20 years -- after U.S. authorities recommended it stop some trials of cholesterol-lowering TAK-475, one of its most promising drug candidates.
HSBC helps start Mideast bonds index amid slowdown
HSBC Holdings Plc helped start a group of indexes that includes benchmarks for global Islamic and Middle East conventional bonds to encourage trading as a global credit crunch delays sales and doubles spreads.
Sun Life Financial income up 7 pct despite strong C$
Sun Life Financial Inc's third-quarter earnings rose a slightly better-than-expected 7 percent, driven by its U.S. life, mutual funds and employee benefit businesses and despite a stronger Canadian dollar, the company said on Tuesday.
UBS loss more than expected
UBS AG reported its first quarterly loss in five years after hefty writedowns on subprime-related investments, but said it expects to turn in a group profit in the last quarter.
AT&T, T-Mobile unveil messaging phones
The largest U.S. mobile service provider AT&T Inc and smaller rival T-Mobile USA revealed new handsets on Monday to attract a growing number of consumers who like to send e-mails or text messages.
Turk helicopters pound Kurd rebels, PM determined
Turkish Cobra helicopters pounded Kurdish rebel positions near the Iraqi border on Tuesday and Prime Minister Tayyip Erdogan reaffirmed Ankara's readiness to send troops over the frontier despite U.S. opposition.
Russia to file Arctic claim to U.N. this year: report
Russia will file a claim to the gigantic mineral wealth of the Arctic seabed with the United Nations by the end of the year, Russia's natural resources minister was quoted as saying on Tuesday.
North Korea nuclear disabling on track, U.S. says
North Korea is on track to disable its nuclear program by the end of this year as its differences with the United States have mostly been resolved, a U.S. envoy said on Tuesday.
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