MARKETS / FINANCE

Stocks were poised to bounce back at the open on Thursday, a day after Wall Street wiped out most of its gains for the year, but Japan's nuclear crisis was set to drive trading in another volatile session for markets.

Consumer prices rose at their fastest pace in more than 1-1/2 years in February, driven by higher food and energy prices, a government report showed on Thursday, but underlying inflation pressures remained generally contained.

FedEx Corp, the world's largest cargo airline, forecast improved revenue and margins in the current quarter and beyond, boosted by strong demand.

FedEx Corp, the world's largest cargo airline, forecast improved revenue and margins in the current quarter and beyond, boosted by strong demand.

The yen briefly hit record highs versus the dollar on Thursday as quake-hit Japan's nuclear crisis unleashed a global risk sell-off, while world stocks traded higher after Tokyo stocks came off earlier lows.

Stock index futures bounced on Thursday, a day after Wall Street wiped out much of its gains for the year, but news on Japan's nuclear crisis was set to drive trading in another volatile day for markets.

Oil rose by more than $2 on Thursday as tensions in Saudi Arabia and Bahrain fueled fears of further supply disruption while investors weighed the impact on energy demand from quake-hit Japan.

Stock index futures bounced back on Thursday, a day after Wall Street wiped out much of its gains for the year, but increasing worry over Japan's nuclear crisis was set to drive trading in another volatile day for markets.

FedEx Corp, the world's largest cargo airline, is expected to report a third-quarter profit that rose from a year ago but was sideswiped by severe winter weather and spiking fuel costs.

Financial leaders of the world's richest countries will hold talks on Friday on ways to calm global markets roiled by Japan's nuclear plant crisis and concern it will unravel the world economy's fragile recovery.

The yen briefly hit record highs versus the dollar on Thursday as quake-hit Japan's nuclear crisis unleashed a global risk sell-off, while world stocks ticked higher after Tokyo stocks came off earlier lows.

The yen surged to a record high against the dollar and Asian shares fell on Thursday after U.S. officials said the risk of a catastrophic radiation leak from an earthquake-stricken Japanese nuclear plant was rising.

Bank of America, Citigroup and Barclays have received subpoenas from U.S. regulators probing the setting of the London interbank offered rate, or Libor, for U.S. dollars between 2006 and 2008, the Financial Times said, citing people familiar with the investigation.

The Tokyo Stock Exchange and Japanese financial regulators plan to keep markets open despite a report that some foreign financial institutions are calling for Japan's stock market to halt trading.

The yen surged to a record high against the dollar and shares in Japan and elsewhere in Asia fell on Thursday after U.S. officials said the risk of a catastrophic radiation leak from an earthquake-stricken Japanese nuclear plant was rising.

Mizuho Bank <8411.T> said that all of its automatic teller machines throughout Japan and its Internet transaction system have stopped working on Thursday, after computer glitches disrupted $7.3 billion worth of transactions over the previous two days.

The head of the main soft commodity exchange said on Wednesday he loved high-frequency traders, lauding their liquidity despite complaints from other traders that they're wrecking the market.

The board of News Corp has been sued by shareholders for agreeing to buy a business owned by Chairman Rupert Murdoch's daughter for about $675 million, according to a lawsuit filed on Wednesday.

The Group of Seven rich nations will discuss on Thursday possible steps to calm volatile financial markets roiled by fears about the deepening crisis in Japan.

Lehman Brothers Holdings Inc said it hopes to win court approval of its reorganization plan in mid-November, more than three years after filing the largest bankruptcy in U.S. history.

High-frequency traders have become a convenient scapegoat as markets for sugar, coffee, cocoa and cotton react to tight supplies and surging demand, the president of ICE Futures US said on Wednesday.

Two top energy market operators redoubled their defense of speculators on Wednesday amid renewed concerns in the oil market, arguing that speculators are misunderstood and often too quickly blamed for price spikes.

Accused hedge fund manager Raj Rajaratnam did not get secrets about Advanced Micro Devices Inc and eBay Inc from a former high-placed friend because the information was already public, his lawyer argued at trial on Wednesday.

The S&P and Nasdaq dropped into negative territory for the year on Wednesday in a crush of trading on the perception Japan's nuclear crisis would continue to be a headwind for equities.

The earthquake in Japan caused insured losses of $12 billion to $25 billion, making it one of the costliest natural disasters in history for global insurers, according to risk modeling firm Eqecat.

A rare Wall Street downgrade stoked fears that Apple Inc's torrid growth is slowing and sent its shares sliding for the second straight day as nervous investors ponder the impact on the tech industry from Japan's largest-ever earthquake.

The S&P 500 and Nasdaq turned negative for the year on 2011's highest volume in a sharp selloff on Wednesday as investors feared Japan's nuclear crisis could worsen.

Apple Inc shares slid for a second straight day after a rare broker downgrade stoked worries that the company's torrid pace of growth will slow.

Treasury Secretary Timothy Geithner said on Wednesday it is imperative that the United States cut its budget deficits, and he believes there is increasing bipartisan support in Congress to do so.