MARKETS / FINANCE

Stock index futures rebounded on Wednesday from three days of losses on stronger-than-expected growth in China, but investors closely watched developments in Europe's debt crisis.

China is preparing to conduct its first-ever stress test on the brokerage industry this year to ward off potential risks arising from a possible deterioration in the economic or market environment, three sources with direct knowledge of the plans told Reuters.

Silver has lost its shine of late as fears of another global economic slowdown reduced its appeal as an industrial metal. Silver fell from the record prices it set a couple of months back to hover around $35 per ounce. However, optimists are speculating that silver will bounce back once again and cross the $100 record. There are even experts who fancy silver's price parity with gold!

However you slice and dice it, a sizeable chunk of China's local government debt will likely go bad over the next few years. But that will not be anything the world's second-largest economy can't muddle through.

Stock index futures pointed to gains for equities on Wednesday, reversing falls from the previous three sessions, with futures for the S&P 500, the Dow Jones and for the Nasdaq up 0.5 to 0.6 percent by 0802 GMT.

China's economy slowed less sharply than expected in the second quarter and Beijing said corralling inflation remained its top priority even though a complex and volatile global economy clouded the outlook.

China's Sina Corp will launch a virtual currency for its highly popular microblogging service, Weibo, in the third quarter this year, the firm's first real push to monetize the platform, said a source with direct knowledge of the matter on Wednesday.

A new Bank of Japan board member, Koji Ishida, said on Wednesday the central bank should avoid directly underwriting government debt because doing so could destabilize financial markets.

Netflix Inc hiked monthly prices for customers who use both its mail and online services, a move that could steer users toward its growing Internet streaming service.

A new Bank of Japan board member, Koji Ishida, said on Wednesday the central bank should avoid directly underwriting government debt because doing so could destabilize financial markets.

European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens' debts and to stop contagion spreading to Italy and Spain.

Bill Gross, the manager of the world's largest bond fund, has soured further on the economic outlook and has jacked up buying of U.S. Treasuries in June, according to PIMCO's website on Tuesday.

Some Federal Reserve officials believe further monetary policy easing could be needed if the recovery remains too sluggish to cut the stubbornly high U.S. jobless rate and if inflation eases as expected, minutes of the Fed's last meeting show.

Google+ has become a social networking phenomenon and may very well surpass 10 million users by today's end and 20 million by the weekend, according to Ancestry.com founder Paul Allen's new analysis.

Moody's cut Ireland's credit rating to junk on Tuesday, warning that the debt-laden country would likely need a second bailout -- just the latest move amid heightening concerns about Europe's ability to address its debt crisis and prevent it from spreading.

The Federal Reserve, in a push to control the often wayward communications of its top officials, issued detailed rules on Tuesday dictating what they can and cannot do.

Borders Group Inc on Tuesday answered criticism from landlords who said the bankrupt bookseller has kept them in the dark on the future of their leases, saying it is providing as much information as it can under tight deadlines.

New York's attorney general is investigating Bank of America Corp's $8.5 billion settlement with investors over losses in mortgage-backed securities, and has sought data from 20 institutional investors that agreed to the accord.

A debt default would have a catastrophic effect on the nation's financial system and also deal a huge setback to New York City, Mayor Michael Bloomberg said on Tuesday.

Ireland's credit rating was cut to junk status by ratings agency Moody's which said the country will likely need further rounds of official financing before it can return to international capital markets.

Tax reform could spell the demise of corporate tax breaks such as the domestic production credit, but don't hold your breath waiting for it, says Scott Hodge, a 20-year veteran of the Washington tax wars.

The U.S. trade gap widened sharply in May to its highest level in nearly three years as surging oil prices helped push imports to a near record and exports fell slightly from April's all-time high.

New York's attorney general has requested data from 20 of the institutional investors that agreed to a $8.5 billion settlement with Bank of America Corp over their holdings in soured mortgage-backed securities.

Stocks closed lower for a third straight day on Tuesday as Europe's fiscal woes and a weak start to tech earnings gave investors little reason to buy even after the recent losses.

New York's attorney general has requested data from 20 institutional investors that agreed to a $8.5 billion settlement with Bank of America Corp over their holdings in soured mortgage-backed securities.

Two hedge fund founders were accused in a U.S. lawsuit of using accounting manipulation to loot $205 million in fees from Tetragon Financial Group Ltd.

Like kids on a road trip, investors keep asking: are we there yet?

It's Washington Mutual Inc vs. shareholders, round II.

A string of troubled initial public offerings in Europe has pushed Bank of America Merrill Lynch to draw up a set of new guidelines to improve the listing process and restore confidence between sellers and buyers.