IBT Staff Reporter

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Gold holds at record high as Mideast simmers

Gold prices held just below the previous session's record high in Europe on Wednesday, as the acceleration of global inflation and the threat that violence in the Middle East and North Africa will spread supported interest in the metal as a haven from risk.

IEA economist says expensive oil here to stay

High oil prices are a threat to the global economic recovery and present a challenge the world will have to face over the long term, the International Energy Agency's chief economist said on Wednesday.

StanChart profit jumps as Asia booms

Asia-focused bank Standard Chartered <2888.HK> met expectations with a 19 percent rise in profits and said it was off to a record start this year as China, India and other Asian markets boomed.

Bankers bonuses down, but Europe still crying

The rancor over bank bonuses means investment bankers across the globe are now getting a higher level of fixed pay but industry groups in Europe still feel their financial sector is facing much tougher rules than the rest of the world.

Stock futures signal pause after sell-off

U.S. stock index futures pointed to a flat open on Wall Street on Wednesday following the previous session's sell-off, with futures for the S&P 500 up 0.02 percent, Dow Jones futures down 0.01 percent and Nasdaq 100 futures up 0.05 percent at 3.16 a.m. EST.

Costco Wholesale profit rises

Costco Wholesale Corp posted a 16 percent jump in quarterly profit, boosted by strong sales during the holiday season and higher gasoline prices.

Gupta, Rajaratnam calls on Goldman, P&G

U.S. market regulator said former Goldman Sachs Group Inc and Procter & Gamble Co board member Rajat Gupta tipped Galleon hedge fund founder Raj Rajaratnam in phone calls about confidential company information. Gupta's lawyer said the allegations are baseless.

SEC charges ex-Goldman director Rajat Gupta in insider case

Former Goldman Sachs Group Inc director Rajat Gupta leaked secret details to Galleon Group hedge fund manager Raj Rajaratnam about Warren Buffett's plan to invest $5 billion in the Wall Street bank at the height of the financial crisis, a U.S. securities regulator charged.

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