MARKETS / FINANCE

Visa may be everywhere you want to be, but not if you stick an e in front of it.

Europe's debt debacle poses some risks for the United States, but is unlikely to derail the country's solid economic recovery, top Federal Reserve officials said.

U.S. stocks ended slightly lower on Monday as gains in consumer-related stocks, including tobacco shares, were offset by losses in the energy sector.

U.S. consumer spending rose moderately in May, even as savings touched the highest level in eight months, indicating a tepid economic recovery was still intact.

Stocks were little changed on Monday as data showing a rise in consumer spending was offset by investors' anxiousness before economic reports, including monthly payrolls, later in the week.

Bankers voiced relief on Monday after world leaders abandoned a global bank levy and eased the timetable for new capital requirements at a G20 summit in Canada which posed questions about the forum's effectiveness.

The Supreme Court said on Monday that it rejected separate appeals by cigarette makers and the Obama administration stemming from the government's racketeering lawsuit against the tobacco industry, a case that initially sought $280 billion from the industry.

The Supreme Court said on Monday that it would hear an appeal by Janus Capital Group of a ruling that reinstated a class-action securities fraud lawsuit against the mutual fund company.

Stocks rose on Monday, rebounding after losses last week and data showed consumer spending rose slightly more than expected in May.

Consumer spending rose moderately in May even as savings touched the highest level in eight months, suggesting a tepid economic recovery was still intact.

Bankers voiced relief on Monday after world leaders abandoned a global bank levy and eased the timetable for new capital requirements at a G20 summit in Canada which posed questions about the forum's effectiveness.

The U.S. Supreme Court on Monday rejected separate appeals by cigarette makers and the Obama administration stemming from the government's racketeering lawsuit against the tobacco industry, a case that initially sought $280 billion from the industry.

Stock markets perked up on Monday after world leaders abandoned a global bank levy and eased the timetable for new capital requirements at a G20 summit in Canada which posed questions about the forum's effectiveness.

BP said it had spent $300 million on its Gulf of Mexico oil spill response effort in the past three days, hitting the $100 million/day spend rate for the first time and bringing its total bill to $2.65 billion so far.

Stocks fell on Monday as better-than-expected data on consumer spending failed to ease renewed caution about the economy.

Stock index futures edged higher on Monday after global leaders pledged to tackle government deficits and investors looked ahead to earnings and economic data for a rebound after Wall Street's steep decline last week.

Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis, the Bank for International Settlements said.

It was a long-held belief that cotunnite, the highest-known pressure phase of the mineral zirconia, was mechanically hard enough to be used for industrial abrasives, and therefore could possibly replace expensive diamond. It turns out, that is not the case.

Germany will not prohibit naked short-selling on transactions completed in a single day under certain conditions, coalition sources told Reuters on Monday.

Diamonds are the in-thing in India now. According to De Beers, demand for polished diamonds in India and China could reach the same level as in the US.

The Swiss franc hit a record high against the euro on Monday, helped by comments from a Swiss central bank broad member, while the dollar recovered after faltering in Asia on concerns about U.S. economic recovery.

U.S. stock index futures rose slightly on Monday after global leaders pledged to cut government deficits and adopted a more flexible timeline for banks to take on new capital rules.

As international gold prices nearing $1300 per ounce, experts in the Indian bullion markets are of the opinion that the current gold-rush is nothing but a bubble that can burst anytime in absence of the physical gold demand, which has been shrinking in recent months owing to exorbitantly high prices.

Consumer spending rose slightly more than expected in May even as savings touched their highest level in eight months, pointing to a recovery that remains on solid ground.

Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from the medicines prescribed against the global recession may create the next crisis, the Bank for International Settlements said.

The world's banks are still not out of the woods despite recent multi-billion profits as writedowns on loans loom and funding pressures remain high, the Bank for International Settlements said.

Gold nosed at last week's record highs on Monday, buoyed by a dip in the dollar in Asian trading and worries about the global economy, although a lack of consumer demand could push prices lower in the near term.

U.S. stock index futures pointed to a mixed opening on Wall Street on Monday, with futures for the S&P 500 up 0.4 percent, Dow Jones futures gaining 0.3 percent and Nasdaq 100 futures up 0.3 percent at 4:50 a.m. ET.

India used to be a totally gold oriented jewellery market with over 90% people buying gold jewellery. Traditionally, Indian families go for gold. But, now people want a different look when they pick up jewellery. So they go for platinum. Platinum looks different, looks cool and goes well with diamonds, that is the feeling most of Indians in the cities.