MARKETS / FINANCE

Gold was set for its biggest daily gain in over a week on Tuesday, after a downgrade to Italy's credit rating added to the strain on European leaders to solve the region's debt crisis.

The Basel Committee of international banking regulators is to launch a study into how banks measure assets for meeting capital safety rules.

Greece promised further cuts to its bloated public sector on Tuesday before a second conference call with its international lenders, whom Athens must convince to extend more loans to avoid bankruptcy next month.

President Barack Obama has thrown down the gauntlet regarding the deficit reduction process -- the only question is, does he have the support of the American people to enact his budget vision, or is substantive action unlikely prior to the 2012 election, due to divided government?

Stocks rose in choppy trading on Tuesday as investors hoped the Federal Reserve's policy panel would add more monetary stimulus to kick-start economic recovery.

The U.S. Federal Reserve opened a two-day meeting on Tuesday that is expected to end with a decision to stock up on longer-term Treasury notes in a bid to boost a fading economic recovery.

Canada's Lakeland Resources Inc said it found a high-grade gold zone on its Midas Gold property in Ontario, sending the mineral explorer's shares up as much as 33 percent on Tuesday morning trade.

ConAgra Foods Inc reported lower-than-expected quarterly earnings on Tuesday, hurt by higher costs for flour, and said it saw commodity costs for the year rising more than previously expected.

Stocks were set for a higher open on Tuesday as investors waited to see if the Federal Reserve's policy-setting panel offers aid to a sputtering U.S. economy.

ConAgra Foods Inc reported lower quarterly earnings on Tuesday, hurt by higher costs for flour, and said it sees commodity costs for the year rising more than previously expected.

The new Consumer Financial Protection Bureau will release a final rule early next year requiring lenders to make sure prospective borrowers have the ability to repay their mortgages, the acting head of the agency said on Tuesday.

Capital One Financial defended its proposed takeover of ING Groep NV's U.S. online banking portfolio on Tuesday, telling U.S. regulators and community groups that big doesn't necessarily mean risky.

Housing starts fell more than expected in August as groundbreaking for both single-family and multi-family units dropped, suggesting the economy will not get help from residential construction anytime soon.

Gold Fields, the world's fourth largest gold producer, has upgraded the mineral resource estimate for its Chucapaca joint-venture project in Peru by 35 percent to 7.6 million ounces.

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Gold rose Tuesday after Standard & Poor's downgraded Italy's debt, the latest in a series of blows to the eurozone and endorsements of precious metals, at least in the eyes of investors who want safe-havens.

Stock index futures rose on Tuesday a day after a week-long rally was halted as investors waited to see if the Federal Reserve's policy-setting panel offers aid to a sputtering U.S. economy.

Standard and Poor's rocked the euro and bond markets on Tuesday with a one-notch cut in Italy's credit rating that added fuel to opposition calls for Prime Minister Silvio Berlusconi to resign and increased pressure on the debt-stressed euro zone.

Stock index futures rose on Tuesday a day after a week-long rally was halted as investors waited to see if the Federal Reserve's policy-setting panel offers aid to a sputtering U.S. economy.

Stock index futures pointed to a mixed open on Wall Street on Tuesday, with futures for the S&P 500 down 0.2 percent, the Dow Jones futures down 0.1 percent and the Nasdaq 100 futures up 0.1 percent at 0740 GMT.

The Mongolian government is discussing possible changes to a 2009 investment agreement for its massive copper-gold deposit at Oyu Tolgoi, media reports quoted the country's Finance Minister S. Bayartsogt as saying on Tuesday.

Gold rose on Tuesday, after Standard and Poor's downgraded Italy's credit rating, adding to the strain on the debt-distressed euro zone, while uncertainty over the outcome of a key U.S. Federal Reserve meeting also helped buoy the market.

Gold held steady on Tuesday, after Standard and Poor's downgrade of Italy's credit rating, while a stronger dollar weighed on sentiment ahead of a key U.S. Federal Reserve policy meeting.

As Europe's debt crisis deepens, low-yielding U.S. government debt and the much maligned dollar are suddenly glowing more brightly than gold.

Australia's first physical bullion exchange, an over-the-counter spot market for gold, silver and platinum, will begin operations Oct 4, the Australian Bullion Exchange (ABX) said in a statement on Tuesday.

Bank of China, a big market-maker in China's onshore foreign exchange market, has stopped foreign exchange forwards and swaps trading with several European banks due to the unfolding debt crisis in Europe, three sources with direct knowledge of the matter told Reuters on Tuesday.

Google Inc has enlisted Visa Inc in its effort to push mobile payments, striking an agreement to allow Visa account-holders to pay for store purchases with their smartphones.

Standard & Poor's cut its unsolicited ratings on Italy by one notch on Tuesday, a surprise move that sharply increases strains on the debt-stressed euro zone and piles pressure on policymakers to take more decisive action to resolve the crisis.