MARKETS / FINANCE

Wall Street was set for a lower open on Monday as shares fell globally following a surprise interest rate increase from China's central bank.

A consortium of Apax Partners and iGate are close to buying 63 percent of Patni Computer, a source with direct knowledge of the matter told Reuters on Monday, in a deal valued at about $915 million.

A blizzard pummeled the northeastern United States on Monday, dumping up to 29 inches of snow, disrupting air, rail and bus travel and forcing motorists to deal with blowing snow and icy roads at the end of the busy Christmas weekend.

U.S. stock index futures were lower on Monday as shares fell globally following a surprise interest rate increase from China's central bank.

Global banking supervisors tackling issues like bonuses, which drew ire during the economic crisis, said banks should disclose how an individual's pay is linked to the firm's performance, including longer-term profitability.

A winter blizzard moved across the northeastern United States on Monday, disrupting air and rail travel and forcing motorists to deal with blowing snow and icy roads at the end of the busy Christmas weekend.

Chinese shares slid and European stocks followed suit on Monday as the impact of China's Christmas Day interest rate rise sunk in to thin markets.

Asian shares edged up while the Australian dollar and commodities pared early losses as investors bet China's latest interest rate hike would not change the optimistic outlook for the global economy in 2011.

Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.45 percent, Dow Jones futures down 0.44 percent and Nasdaq 100 futures down 0.16 percent at 0850 GMT (3:50 a.m. ET).

China made fresh assurances that it will keep inflation in check, saying it will improve efforts to stabilize prices and ensure an abundant supply of essential commodities ahead of the Chinese New Year.

Singapore-listed ECS Holdings , which recently clinched nation-wide distribution rights for Apple's iPad and iPhone in China, hopes to raise gross proceeds of around $50 million from the listing of its Taiwan Depository Receipts.

China's government will be able to keep inflation in check, Premier Wen Jiabao said on Sunday, a day after the central bank raised interest rates, and he pledged to speed up efforts to rein in house price surges.

Wall Street will see the year-end rally carry into the last week of 2010, but the question on everyone's mind is, what's next?

Call it the year of feast and famine.Many of the world's big advanced economies have pledged frugality for 2011 while fast-growing emerging markets run the risk of overheating. The global economy must withstand both forces in order to live up to growth expectations.

Egypt has adopted a stimulus plan with the aim of injecting 10 billion-20 billion pounds ($1.72 billion-$3.44 billion) into the economy in the 2011 calendar year, the country's finance minister said on Sunday.

Property developer Nakheel's restructuring plan is being complicated by new claims from trade creditors that could lead to more legal headaches, two sources familiar with the matter said.

China's government will be able to keep inflation in check, Premier Wen Jiabao said on Sunday, a day after the central bank raised interest rates, and he pledged to speed up efforts to rein in house price surges.

China's government will be able to keep inflation in check, Premier Wen Jiabao said on Sunday, pledging to speed up efforts to rein in house price surges.

China raised mortgage rates by 25 basis points on Sunday, the Ministry of Housing and Urban-Rural Development said, the second increase this year, after benchmark interest rates increased on Saturday.

Egypt's gross domestic product is expected to grow by about 5.8 to 6.0 percent in the fiscal year to end-June 2011, the ruling National Democratic Party said in a statement on Saturday.

The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister said on Saturday, as other exporters indicated global production was unlikely to rise in 2011 because the market was well supplied.

China's central bank raised interest rates on Saturday for the second time in just over two months as it stepped up its battle to rein in stubbornly high inflation.

The People's Bank of China said on Saturday it would increase its one-year benchmark lending and deposit interest rates by 25 basis points, the second rate hike in just over two months.

The People's Bank of China said on Saturday it would increase its one-year benchmark lending and deposit interest rates by 25 basis points, the second rate hike in just over two months.

China's central bank raised interest rates on Saturday, the second rise in just over two months, stepping up its battle to rein in stubbornly high inflation.

World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011.

The Justice Department has opened a criminal investigation into small Swiss regional banks which may have helped Americans evade taxes, the New York Times reported, citing two people briefed on the matter.

Czech government ruled out adopting euro as its currency for now and the country will not put any effort to enter the exchange rate mechanism next year, said the nation’s Prime Minister Petr Necas on Thursday.

Credit rating agencies have yet to overcome underlying conflicts of interest that have contributed to the current crisis and their approach was a reason for concern, an ECB Executive Board member said.