The euro surged to a two-month high and Asian stocks climbed to their highest in more than a week on Thursday after a bullish forecast fueled optimism about the coming U.S. earnings season and underpinned growing tolerance for risk.
Obama administration will keep tax rates at levels that benefit job-creating businesses and limit taxes on capital gains and dividends, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
The Australian dollar has received another boost overnight after an improvement in investor risk appetite.
J.P. Morgan Chase & Co is suing a former financial adviser who defected to Morgan Stanley Smith Barney and has already transferred $30 million of client assets to his new company, according to documents filed in the New York Supreme Court on Wednesday.
Traders were content to play the ranges between 0.8470 and 0.8510 during yesterday's domestic session in light of the sharp rally above US85 cents the previous day.
Asset management and custody firm State Street Corp said on Tuesday that quarterly operating earnings would easily top Wall Street forecasts, sending its shares up nearly 10 percent and boosting the broader market.
Europe listed 91 banks taking part in financial stress tests -- including many regional banks where markets suspect most of the sore spots are -- as it seeks to restore confidence in the sector.
Greek lawmakers agreed in principle on an overhaul of the country's ailing pension system in a preliminary vote on Wednesday, in a sign that a reform key to restoring the country's ailing finances is likely to pass.
The top U.S. securities regulator wants more feedback on its nearly year-old proposal to ban flash orders, and has asked additional questions about the wisdom of the ban in the options market.
U.S. stocks logged their best one-day gain in about six weeks on Wednesday after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level.
A government program to bail out banks at the height of the financial crisis has so far turned a profit, according to a report by investment bank Keefe, Bruyette & Woods Inc.
Goldman Sachs Group and Morgan Stanley have generated billions of dollars of revenue from fixed income trading over the last year, but that profit engine may have sputtered in the second quarter as bond markets grew turbulent.
Stress tests on European banks need to mark down the value of Greek government debt by about 16 percent, sources said, as regulators haggled over how much detail to reveal about the health checks.
Citigroup Inc has agreed to sell its private equity unit to Lexington Partners for more than $900 million, PE Hub said on Wednesday, citing multiple sources.
Family Dollar Stores Inc forecast a quarterly profit below analysts' estimates, sending its shares down 8 percent, as it faces an uncertain economy and increased discounting by rival Wal-Mart Stores Inc .
The S&P 500 index briefly rose 2 percent on Wednesday, rebounding from recent losses as a bullish earnings forecast from State Street Corp encouraged investors ahead of the earnings season.
U.S. stocks advanced more than 1 percent on Wednesday, rebounding from recent losses as a bullish earnings forecast from State Street Corp encouraged investors going into the earnings season.
The U.S. economic recovery is slowing, but the Federal Reserve does not need to do more to help it along, Dallas Fed President Richard Fisher said on Wednesday.
European regulators haggled over how much detail to reveal about health checks on the region's lenders in a fight that may undermine the exercise's aim of restoring confidence.
Sirius XM Radio Inc added about 583,000 net subscribers in the second quarter, bringing its total base to 19.5 million as healthier car sales lifted demand for satellite radio.
The euro fell from seven-week highs against the dollar on Wednesday on concerns about the growth outlook for the global economy and plans to test the financial health of European banks.
Stocks advanced more than 1 percent on Wednesday as a bullish earnings forecast by institutional investor State Street Corp lifted bank shares and higher crude oil prices boosted the energy sector.
Oil prices rose on Wednesday after six straight sessions of losses, lifted by hopes of a strong earnings season and expectations data will show a drop in U.S. crude inventories.
Gold edged higher on Wednesday, rising back above $1,190 an ounce, as fresh demand emerged for the precious metal after its correction from recent record highs, which helped offset pressure from a firmer dollar.
CPM, a New York-based commodities analysis firm, has predicted that platinum group metals are set to make a roaring investment option in the coming years.
Wall Street rose on Wednesday as a higher profit outlook from bank State Street Corp reinforced hopes of a better-than-expected earnings season and trumped fears of slower global economic growth.
The stress tests for European banks will not include a haircut on German sovereign bonds, two banking sources in Germany told Reuters on Wednesday.
CME Group Inc (CME.O), which runs the world's biggest clearinghouse for futures contracts, plans to start clearing over-the-counter interest-rate contracts in 2010, an executive said on Wednesday.
A sweeping financial regulatory reform bill that won passage this month in the U.S. House of Representatives will require trading and clearing of a swath of derivatives currently traded away from regulated exchanges. CME is among several clearinghouses that aim to take advantage of the new requirement...
Gold recovered in afternoon trade on Wednesday, but a firmer dollar and a report that China would not make gold a major part of its reserves undermined sentiment.
Physical interest in the metal at lower prices and strong chart support after its recent correction helped limit early losses, analysts said.
Zimbabwe has once again urged the Kimberley Process Certification Scheme to allow the country to export its diamonds to world market.
Zimbabwe finance minister tendai Biti said the KP should allow Zimbabwe to immediately start selling diamonds from Chiadzwa as the delay is affecting ordinary Zimbabweans.
