IBT Staff Reporter

A top Swedish prosecutor said on Wednesday she was reopening an investigation into rape allegations against Julian Assange, the founder of whistleblowing website WikiLeaks.

Prime Minister Naoto Kan and rival Ichiro Ozawa clashed over fiscal priorities Wednesday in a battle for party leadership that threatens a policy vacuum as Japan struggles to tackle a strong yen and weak economy.

Wall Street jumped on Wednesday as an increase in U.S. manufacturing activity and new signs of growth in China and Australia boosted investor confidence in the state of the global economy.

The U.S. manufacturing sector grew faster than expected in August but private employers unexpectedly cut jobs, showing the economic recovery still faces headwinds.

The meeting between the three Pakistan players at the centre of spot-fixing allegations and the country's High Commissioner has been postponed until Thursday, officials said on Wednesday.

A federal judge approved the creation of a $150 million fund for Bank of America Corp shareholders as part of a settlement with the Securities and Exchange Commission over the bank's 2009 acquisition of Merrill Lynch.

The U.S. manufacturing sector grew more quickly than expected in August, chalking up a 13th straight month of expansion, according to an industry report released on Wednesday.

With the launch of the Singapore Mercantile Exchange (SMX), a pan-Asian multi-product commodity and currency derivatives exchange, on Tuesday the focus of bullion traders has shifted from London to Asia.

A New York federal judge has approved the creation of a $150 million settlement fund for Bank of America Corp shareholders, as part of a larger settlement with the Securities and Exchange Commission over the bank's 2009 purchase of Merrill Lynch, the regulator said on Wednesday.

New powers from the financial reform law will help avoid a repeat of 2008's frenzied sale of Wachovia and the wreckage that followed the collapse of Lehman Brothers, U.S. regulators said on Wednesday.

U.S. banking regulators see new powers under the Dodd-Frank financial reform law helping avoid a repeat of 2008's frenzied sale of Wachovia and the wreckage that followed the collapse of Lehman Brothers.

Floods have ravaged Pakistan's economy, the prime minister said on Wednesday, with massive job losses and soaring inflation expected to hurt a nation whose stability is vital to the U.S. war against militancy.

President Barack Obama declared an end to the seven-year U.S. combat mission in Iraq on Tuesday and promised recession-weary Americans my central responsibility now is to repair the U.S. economy.

Departing White House economist Christina Romer said on Wednesday the United States needs to find the political will for more action to boost the economy and not let high deficits get in the way of creating jobs.

Adam Sandler's new comedy Grown Ups has knocked Sylvester Stallone's latest mercenary action movie off the UK box office top spot after just one week, according to Screen International on Wednesday.

Burger King Holdings Inc has been considering a possible sale and has held talks with potential buyers, a source familiar with the situation said on Wednesday, lifting its shares 18.5 percent.

Borders Group Inc reported a quarterly loss as the second-largest U.S. book store chain cut prices and continued to grapple with lower sales amid a shift to electronic books.

An intact Roman lantern made of bronze, believed by experts to be the only one of its kind in Britain, has been unearthed in a field by a metal-detecting enthusiast.

Burger King Holdings Inc has been considering a possible sale and has held talks with potential buyers, a source familiar with the situation said on Wednesday, lifting its shares 18.5 percent.

Wall Street jumped on Wednesday as an increase in U.S. manufacturing activity and new signs of growth in China and Australia boosted investor confidence on the state of the global economy.

Borders Group Inc reported another quarterly loss as the second-largest U.S. book store chain continued to grapple with lower sales and the shift to digital bookselling.

Citigroup's private banking arm has set up a global unit to target family offices, organizations that manage the financial affairs of rich dynasties, according to an internal memo seen by Reuters.

U.S. private employers unexpectedly cut 10,000 jobs in August compared to a revised gain of 37,000 in July, a report by a payrolls processor showed on Wednesday.

Manufacturing in China, India and Russia powered ahead in August while growth slowed in European factories, emphasising a growing divide in the pace of recovery between the rich and emerging worlds.

U.S. Defence Secretary Robert Gates told U.S. soldiers on Wednesday they were in the final phase of engagement in Iraq after ending combat missions, and history would judge if the invasion had been worth it.

Israel's defence minister said on Wednesday the Jewish state would be willing to hand over parts of Jerusalem in peace talks with the Palestinians to be launched by U.S. President Barack Obama.

At least four retailers from Europe and Asia are poised to submit first-round bids for Carrefour SA's roughly $1 billion (650 million pounds)-worth of Southeast Asian assets on Wednesday, sources said, showing robust demand for the retail operations.

private employers unexpectedly cut jobs in August, a report by a payrolls processor showed on Wednesday, delivering another blow to the already faltering economic recovery.

The number of planned layoffs at U.S. firms fell 17 percent in August from the prior month and hit the lowest level in 10 years, a report on Wednesday showed.