The European Commission will soon present options on how the euro zone might issue bonds jointly, its President Jose Manuel Barroso said on Wednesday, but warned there was no simple solution to a debt crisis that threatens Europe's economic and political future.
Bank of New York Mellon Corp executed some currency transactions for two large public pension funds in a way that could trigger higher costs and boost its profit, the Wall Street Journal showed in an analysis.
Moody's cut the credit ratings of two French banks on Wednesday because of their exposure to Greece's debt, highlighting growing risks to Europe's financial sector from the deepening euro zone sovereign debt crisis.
European shares rose and the euro pared losses on Wednesday after the head of the European Commission said it would soon present options for the introduction of euro area bonds, offering a glimmer of hope for an easing of the sovereign debt crisis.
China's Foreign Ministry urged U.S. lawmakers on Wednesday not to resort to excuses for trade protectionism after U.S. Senate Democratic Leader Harry Reid pushed for legislation aimed at forcing China to loosen controls on its currency.
France's top bank BNP Paribas announced a plan to sell 70 billion euros ($95.7 billion) of risk-weighted assets to help ease mounting investor fears about French bank leverage and funding as its main rivals were hit by ratings downgrades.
The United Auto Workers union has made much progress toward reaching a new contract with General Motors Co to replace a deal on wages and benefits that expires just before midnight on Wednesday, a senior union official said.
The European Commission will present options soon for the introduction of euro area bonds, Commission President Jose Manuel Barroso said on Wednesday, but warned it would not put an end to a debt crisis that threatens the economic and political future of Europe.
European shares turned positive and the euro pared losses on Wednesday after the head of the European Commission said it would soon present options for the introduction of euro area bonds.
Moody's Investors Service on Wednesday downgraded two of France's top banks, Societe Generale and Credit Agricole, in a new blow to efforts by European policymakers to restore market confidence in the region.
Sentiment at Asia's top companies fell in the third quarter, hitting its lowest level since the fourth quarter of 2009 as doubts about the strength of the global economy weighed, a Reuters survey showed.
Bank of Japan board member Ryuzo Miyao said on Wednesday the country's economy may get less support than initially expected from overseas demand as the recovery in the U.S. and European economies loses steam.
Japan's economy may get less support than expected from overseas demand as Europe's debt woes escalate and U.S. growth slows sharply, a Bank of Japan policymaker said, painting a bleak picture for the prospects of recovery from the March earthquake and tsunami.
Bank of Japan board member Ryuzo Miyao said on Wednesday the country's economy may get less support than initially expected from overseas demand as the recovery in the U.S. and European economies loses steam.
Samsung Card said on Wednesday it planned to sell a 20.64 percent stake in unlisted affiliate Samsung Everland through a block deal or initial public offering, in a deal media reports estimate could be worth more than 1 trillion won ($928 million).
Samsung Card <029780.KS> said on Wednesday it planned to sell a 20.64 percent stake in unlisted affiliate Samsung Everland through a block deal or initial public offering, in a deal media reports estimate could be worth more than 1 trillion won ($928 million).
Yahoo's board will meet on Wednesday to discuss a wide range of options facing the troubled Internet firm, including the search for a new chief executive, a source with knowledge of the situation told Reuters.
Can a computer tell when it hurts? It can if you train it, U.S. researchers said on Tuesday.
The Asian Development Bank trimmed most of its 2011 and 2012 growth forecasts for the region while noting that Asia's emerging economies are showing resilience in the face of the darkening global environment.
The Japanese government is considering compiling a fourth extra budget for the fiscal year to March of about 1 to 2 trillion yen ($13-26 billion) to fund additional economic steps without issuing new bonds, the Yomiuri newspaper reported on Wednesday.
Lawyers for Trust Company of the West and its former chief investment officer, star bond fund manager Jeffrey Gundlach, presented their closing arguments Tuesday to a 12-person jury that is to decide their fate.
The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.
U.S. prosecutors have launched a criminal probe into whether eBay Inc employees took confidential information from classified ad website Craigslist as eBay sought to build a rival service, a copy of a grand jury subpoena obtained by Reuters shows.
Fidelity Investments replaced Harry Lange on Tuesday as portfolio manager of its famed Magellan Fund after years of underperformance at the one-time flagship.
The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.
JPMorgan Chase & Co's trading revenue is running 30 percent lower this quarter than the previous period, while investment banking fees are likely to fall by about 50 percent, a senior executive said on Tuesday.
Networking giant Cisco Systems Inc slashed its long-term forecasts, acknowledging that it will find it harder to drive growth even after cutting thousands of jobs in a sweeping reorganization.
CME Group Inc , whose roots in Chicago date to 1848, is serious about leaving Illinois to avoid high state taxes on business at its three futures exchanges, its chief financial officer said on Tuesday.
Silver prices fell in electronic trading Tuesday afternoon following a big 2.4 percent gain during floor trading as the possibility that Europe's industrial activity will plunge took some shine off the white metal.
Stocks gained on Tuesday as investors bought shares beaten down in recent weeks and bet European leaders would take action soon to ease the Greek debt crisis.
