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Europe banks told to test on 2 adverse scenarios

Europe's banks have been asked to estimate how much additional capital they would need under two adverse scenarios as part of stress tests aimed at reviving confidence among investors.

Major RBS order starts third day at Farnborough

Government-controlled British bank Royal Bank of Scotland acknowledged being the mystery buyer of nearly $8 billion in new passenger jets, as an expected flurry of new orders shook up the third day of the Farnborough Airshow.

Oil steady near $77.50

Oil held steady near $77.50 on Wednesday, as rising stock markets and a forming Atlantic storm countered mixed U.S. inventories and disappointing housing data. U.S. crude for September, the front month-contract after Tuesday's expiry of August, rose 5 cents to $77.63 a barrel at 0653 GMT (2:53 a.m. EDT). ICE Brent gained 3 cents to $76.25.

BOJ's Yamaguchi says watching fx moves carefully

Bank of Japan Deputy Governor Hirohide Yamaguchi said on Wednesday the central bank has not guided monetary policy with a specific currency rate level in mind, and will not do so.

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Euro licks wounds, Bernanke in focus

The euro inched up against the dollar on Wednesday, after being knocked from a 10-week high above $1.3000 the previous day due to profit-taking ahead of euro zone bank stress test results this week. Traders were also looking to Federal Reserve Chairman Ben Bernanke's semi-annual testimony before Congress on Wednesday and Thursday, with investors listening for any comments that could boost speculation about more monetary accommodation.

Gold slips in Asia on rising stocks

Gold prices eased in thin Asian trade Wednesday mainly on rising stocks despite the euro edged up against the dollar. Gold for immediately delivery was seen trading at $ 1190.64 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1,191.4 an ounce on the Comex division of the New York Mercantile Exchange

Get a gold coin with Gold IRA retirement plan

What about getting a gold coin while while enrolling for Gold IRA retirement plans? Regal Assets has launched an innovative gold retirement program whereby for a limited period of time new clients purchasing physical gold while setting up their Gold IRA retirement plans will receive a free gold coin in their hand, which can amount to as much as an ounce of gold valued at over $1,200.00.

Financial system support up $700 billion in past year: watchdog

Increased housing commitments swelled U.S. taxpayers' total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday.

Hedge funds still attracting billions in new cash

Hedge funds pulled in $9.5 billion during the second quarter with nervous investors preferring to send their money to the biggest and best established managers, according to industry tracker Hedge Fund Research Inc on Tuesday.

AXA Asia shares fall as guidance misses forecasts

AXA Asia Pacific , target of an $11.5 billion takeover battle, flagged a 5.7 percent rise in first-half operating earnings, shy of market expectations, as its Hong Kong operations were hurt by currency movements.

Judge OKs Goldman's $550 million SEC settlement

A federal judge has approved a $550 million settlement between Goldman Sachs and the U.S. Securities and Exchange Commission related to civil fraud allegations in a subprime mortgage product.

Yahoo revenue misses Wall Street expectations

Yahoo Inc missed Wall Street's revenue estimates in the second quarter as some customers unexpectedly cut spending on online display ads toward the end of June, and shares fell more than 6 percent.

Countrywide VIP program larger than disclosed: lawmaker

More than 40 employees at mortgage finance giants Fannie Mae and Freddie Mac received special perks on mortgage loans from Countrywide as part of its former CEO's special VIP program, a top Republican U.S. lawmaker said on Tuesday.

Australian Dollar Outlook 21/7/2010

The Australian Dollar has opened higher after the Reserve Bank of Australia (RBA) said the next rate movement was all but dependent on official inflation data due next week.

JPMorgan's Dimon not invited to U.S. bill signing

On Wednesday, JPMorgan Chase & Co Chief Executive Jamie Dimon will be left out in the cold.

Daily Forex Commentary 21/7/2010

The Aussie sprung to life either side of the Reserve Bank release of the July board meeting minutes moving to an intraday high of 0.8745 before slipping back towards US87 cents.

Two Fed banks still wanted discount rate hike in June

Two regional Federal Reserve banks, Kansas City and Dallas, last month continued to push for an increase in the rate the central bank charges banks for emergency loans, according to meeting minutes released on Tuesday.

Facebook unrestrained amid NY ownership lawsuit

Facebook may continue business as usual while it fights a New York man's claim he has a contract with founder Mark Zuckerberg that entitles him to 84 percent ownership of the world's leading social networking site, a U.S. court heard on Tuesday.

Wall Street rises on Goldman while Apple up late

U.S. stocks rose for a second consecutive day on Tuesday, led by gains in shares of Goldman Sachs and strength in beaten-down homebuilders and raw materials companies.

U.S. could lose $37 billion a year to tax havens: Levin

The U.S. government loses $37 billion per year in tax revenues because multinational corporations stash money in overseas tax havens, Democratic Senator Carl Levin and a group of small businesses said in a report on Tuesday.

Goldman earnings fall on trading slump and charges

Goldman Sachs could turn out to be a mere mortal after all.

Google to use wind energy to power data centers

Google Inc's energy unit has entered into a deal to buy wind power from NextEra Energy Inc for the next 20 years to power data centers.

Two Fed banks wanted discount rate hike in June

Two regional Federal Reserve banks, Kansas City and Dallas, continued to push for a modest increase in the rate charged to banks for emergency loans, according to minutes from a June meeting.

Fed to push rates lower? Some traders betting on it

The big question ahead of U.S. Federal Reserve Chairman Ben Bernanke's Congressional testimony on Wednesday is whether a weaker economy could prompt the Fed to push already rock-bottom borrowing costs even lower.

SEC chairman says more post-crisis cases in pipeline

The Securities and Exchange Commission is in the midst of more probes stemming from the financial crisis, its chairman said on Tuesday, a week after Goldman Sachs settled fraud charges for a record $550 million.

Surprise commercial orders eclipse defense

Large commercial airplane orders stole the show at the Farnborough Airshow on Tuesday, as Airbus raised its orders guidance for the year with the help of a resurgent leasing industry.

Surprise commercial orders overshadow defense

Large commercial airplane orders stole the show at the Farnborough Airshow on Tuesday, with Latin American companies sharing the spotlight with a resurgent leasing industry.

Goldman's earnings tumble 82 percent

Goldman Sachs could turn out to be a mere mortal after all.

Stocks edge up on Goldman, energy shares

Stocks edged higher on Tuesday, reversing losses, on a turnaround by shares of Goldman Sachs and gains in the energy and materials sectors.

Nokia jumps on hopes of CEO change

Shares in Nokia jumped on Tuesday on news that the world's top cellphone maker has sent out headhunters to find a replacement for Chief Executive Olli-Pekka Kallasvuo.

Global effort needed on bank capital: U.S. officials

Global cooperation will be crucial to hardening world banks' capital armor along the lines backed by Congress and the Obama administration, senior U.S. regulators said on Tuesday.

Global assets under management rebound: study

Global assets under management rebounded last year as markets rallied, but investor jitters about future returns will force managers to review the way they do business, according to a report released on Tuesday.

BNY Mellon, State Street post higher earnings

Bank of New York Mellon Corp and State Street Corp , the largest U.S. custody banks, reported higher quarterly profits on Tuesday as a rise in stock prices helped them earn more from managing client funds, helping to offset low interest rates.

Euro slips from 2-month high versus U.S. dollar

The euro slipped from a more than two-month high against the dollar on Tuesday as falling equities hit risk appetite, prompting investors to book profits ahead of the results from stress tests on European banks.

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