MARKETS / FINANCE

Stocks added to earlier gains on Wednesday, with the S&P 500 up 1 percent, after an index of factory activity in the U.S. Midwest fell in August, though the figures still pointed to growth in the sector.

Stocks rose at the open on Wednesday on continued hopes of more Federal Reserve stimulus for the struggling economy a day after minutes of the latest central bank meeting were published.

Leap Wireless said it would ask shareholders to approve a new tax benefit preservation plan aimed at limiting future tax obligations.

Many of the world's biggest companies are failing to devise solid succession plans for the brand-heroes seen as the engines behind their businesses, investors say.

AT&T and T-Mobile shouldn't have even dreamed of merging; it defies history, technology and consumer interests.

Australia-based gold mining company Gold One International Ltd., which operates in South Africa, said Wednesday it expects to meet its goal of doubling its gold production this fiscal year.

The European Central Bank may have abandoned any hope it still harbored of being able to hike interest rates, but it may take more than a mild dose of recession for it to do a complete U-turn and start cutting rates again.

Stocks rose on Wednesday as another round of soft economic data supported the growing belief the Federal Reserve will take new steps to stimulate growth.

Finally some good news for the American people on the U.S. economy front: Oil is on track to record in August its biggest monthly price decline since May -- something that will put more money in the pockets of consumers and also boost U.S. GDP growth, if the price reduction holds.

Global demand for gold lifted the price of the yellow metal Wednesday, countering a growing appetite for risk among U.S. investors, many of whom expect the Federal Reserve to come to the aid of the U.S. economy, perhaps as early as September.

The pace of U.S. private sector job growth slowed in August for the second month in a row with employers adding 91,000 positions, a report by a payrolls processor showed on Wednesday.

Unemployment in the U.S. has been stubbornly high and presents the largest single obstacle to the re-election hopes of Barack Obama. But joblessness among Americans who cannot yet vote – teenagers – are at levels that are both staggering and unprecedented. One labor economist tells IBTimes, “We have never experienced this amount of joblessness among teens.”

Stocks rose more than 1 percent on Wednesday, extending the previous day's run on hopes the Federal Reserve would act again to boost the economy after a new batch of mostly soft economic data.

- Google Inc's blockbuster acquisition of Motorola Mobility Holdings Inc will bring an unusual stable of tax and accounting benefits to the search-engine giant, already one of Corporate America's most savvy users of such perks.

Legendary corporate raider Carl Icahn has refused to give up on his pursuit of Clorox, despite the company swiftly rejecting every bid he's made.

South Africa's National Union of Mineworkers said Wednesday it overwhelmingly accepted a wage offer from Anglo Platinum that boosts pay rates by as much as 10 percent.

Stocks extended gains on Wednesday after data showed new orders for factory goods rose more than expected in July.

Silvercorp Metals Inc., a Vancouver-based mining company, said Wednesday it purchased 2,027,167 of its common shares at an average price of $8.112 (Canadian).

Carrefour , Europe's No.1 retailer, warned 2011 profits would slump 15 percent as it cuts prices in a bid to reverse falling market share and tackle an increasingly tough economic environment.

Global investors slashed their holdings of equities below 50 percent this month and piled into cash, reflecting what was lining up to be the worst August for world stocks since 1998.

Toronto-based IAmGold Corp. said Wednesday it received $34.2 million for the sale of its Mupane Gold Mine in Botswana to Galane Gold Ltd

Euro zone countries are discussing ways to charge fees on any collateral Greece would use to back bailout loans, an approach that could resolve a nasty row over a second rescue package, Austrian Finance Minister Maria Fekter told Reuters.

The number of planned layoffs at U.S. firms declined 23 percent in August after rising for three straight months, with the government sector again leading the job cuts, a report showed on Wednesday.

The S&P 500 was set to rise about 1 percent at the open on Wednesday, as the previous day's comments from Federal Reserve officials heightened hopes of further monetary stimulus to boost the economy.

Telecommunications giant AT&T Inc, whose proposed buy of T-Mobile USA is under scrutiny by U.S. regulators, promised to bring 5,000 wireless call-center jobs back to the United States if the deal wins approval.

Despite tepid U.S. GDP growth, the U.S. job market has not collapsed, as the private sector added 91,000 jobs in August, ADP announced Wednesday.

Gold and silver prices Wednesday hovered near their previous day's closing prices as traders sorted through a mix of positive and negative economic news.

Stock index futures gained on Wednesday on comments from Federal Reserve officials that boosted hopes of more monetary stimulus and as investors awaited data for a better assessment on the economy, including the weak labor sector.

Though Apple’s App Store has overtaken Android’s market in terms of the total number of apps, Android has defeated iOS by the number of free apps it offers.