MARKETS / FINANCE

Gold Prices slipped to a two-day low in London dealing on Wednesday, dropping 1.5% from yesterday's Dollar high at $1408 per ounce as Asian stock markets closed up to 2% lower and European stocks lost 0.7% on average.

Ratings agency Moody's warned Spain on Wednesday that its debt could be downgraded and Portugal took steps to revive its economy amid concerns about euro zone debt contagion on the eve of a European Union summit.

Stocks were little changed on Wednesday, trimming earlier gains as the dollar advanced, while investors tried to gauge how much further markets could run to year-end.

A deal that President Barack Obama struck with Republicans to extend expiring tax cuts for nearly every working American and spur job growth sailed through the U.S. Senate on Wednesday.

Ireland's parliament approved a multi-billion euro EU/IMF bailout package on Wednesday in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.

A deal struck by President Barack Obama and Republicans to extend expiring tax cuts for millions of Americans and stimulate the sluggish U.S. economy received the needed majority of votes for passage in the U.S. Senate on Wednesday.

The euro zone could create an optional set of stronger debt rules which financially sound countries could choose to adopt, European Central Bank Governing Council member Athanasios Orphanides said on Wednesday.

Bernard Madoff's son Mark, who committed suicide on the second anniversary of his father's arrest, has been cremated and a private gathering will be held in his memory, his wife said in a statement on Wednesday.

Ireland's government has injected an additional 525 million euros into EBS via special investment shares that will be translated into ordinary shares if the building society is converted into a company.

The United States will lead the rich world's economic recovery over the next two years while Japan and major European economies flounder by comparison, according to Reuters polls of more than 200 economists.

U.S. carrier Delta Air Lines Inc said it expects solid earnings growth in 2011, but its shares eased 1.4 percent as it pared its operating margin forecast for the current quarter, citing TransAtlantic softness.

Stocks rose modestly on Wednesday after encouraging economic data and as investors continued to favor shares that have seen strong gains.

Dutch financial institutions, many of which were hit in the 2008 crisis, are likely be on the list of global too-big-to-fail banks and will need to meet new extra capital requirements, the central bank said on Wednesday. Regulators and central bankers, headed by the Basel Committee on Banking Supervision, are still debating which global banks should be considered systemically important fin...

Industrial production rebounded in November in its biggest gain since July, pointing to an acceleration in the pace of the recovery during the fourth quarter.

Ratings agency Moody's warned Spain on Wednesday its credit rating could be downgraded, highlighting concerns about euro zone debt contagion on the eve of a European Union summit.

Stocks edged higher on Wednesday as better-than-expected data on U.S. manufacturing and industrial activity outweighed worries about euro-zone debt sparked by a warning on Spain's credit rating.

Stock index futures dipped on Wednesday after a warning for Spain about its credit rating, rekindling fears about euro-zone debt.

Ireland's main opposition party said on Wednesday it was obscene that a multi-billion euro EU/IMF bailout package protected senior bondholders in Ireland's banks at the expense of stretched taxpayers.

Ratings agency Moody's warned Spain on Wednesday that its debt rating could be downgraded, pushing Spain back into the euro zone debt spotlight ahead of an EU leaders' summit starting on Thursday.

Ireland's main opposition party wants to renegotiate the country's EU/IMF bailout to make holders of senior bank debt not covered by a government guarantee share the cost of bailing out the sector.

Ratings agency Moody's warned Spain it could be downgraded and frustration at Germany and France over their handling of the euro zone debt crisis boiled over on Wednesday, ahead of a European Union summit.

Ireland's parliament will vote on a controversial multi-billion euro EU/IMF bailout loan on Wednesday, putting pressure on opposition parties critical of the aid package ahead of a general election early next year.

China is on course to attract a record $100 billion in foreign direct investment this year, the commerce ministry said on Wednesday, evidence that it remains a top destination for global firms despite concerns about market barriers and rising labor costs.

Ratings agency Moody's put Spain on review for a possible downgrade on Wednesday, highlighting concerns over a looming funding crunch next year and prompting the euro and bank shares to slide.

Ratings agency Moody's said on Wednesday it has put Spain on review for a possible downgrade because of its high funding needs, doubts over its banking sector and concerns surrounding regional finances.

A downbeat assessment of the U.S. recovery from the Federal Reserve weighed on global equities on Wednesday while European shares and the euro came under pressure from a threat to downgrade Spain's debt.

Rating agency Moody's Investor Service on Wednesday put Spain's Aa1 sovereign credit rating on review for a possible downgrade, citing concerns over the country's mounting debt and its funding needs in 2011.

China attracted $91.7 billion in foreign direct investment in the first 11 months of 2010, nearly 18 percent more than in the same period of 2009, the Ministry of Commerce said on Wednesday.