IBT Staff Reporter

The fate of a GlaxoSmithKline Plc diabetes drug may become clearer on Wednesday when U.S. advisers vote on whether the widely used pill carries too much heart risk to stay on the market.

Stock index futures rose on Wednesday on the heels of better-than-expected earnings from technology bellwether Intel Corp , setting the stage for a seventh straight day of gains.

Chinese social networking websites that provide Twitter-like services have suddenly reverted to testing mode and access has been spotty amid reports of a government clampdown.

World's top rice producer, China reduced the 2010 rice output forecast to 196.6 million metric tons from an estimate of 197.3 million tons made a month ago. According to China National Grain & Oils Information Center production forecasts for other crops were maintained at 168 million tons of corn, 115.1 million tons of wheat, 14.5 million tons of soybeans and 12.6 million tons of rapeseed.

Palladium's surplus is set to shrink by 62 per cent this year following an increase is car sales across the globe. The excess supply of platinum will also increase. Palladium demand will fall short of supply by 217,000 ounces this year, down from 578,000 ounces in 2009, said analysts. Consumption by the car industry will advance 15 per cent to 4.6 million ounces, they predicted. Palladium is used in catalytic converters in cars to reduce pollution.

World stocks hit a three-week high on Wednesday while government bonds fell broadly after Intel's forecast-beating quarterly results raised expectations of strong corporate earnings in the second quarter.

Stock index futures were higher on Wednesday, setting the stage for a seventh straight day of gains after tech bellwether Intel Corp reported better-than-expected quarterly earnings.

Stock index futures were higher on Wednesday, setting the stage for a seventh straight day of gains after tech bellwether Intel Corp reported better-than-expected quarterly earnings.

Euro holds near 2-mth highs on easing debt concerns Resistance seen at $1.2767 and then at $1.2780 Aussie holds previous day's gains, U.S. earnings help

U.S. cable provider Comcast won EU regulatory clearance on Wednesday for a landmark deal to buy a controlling stake in General Electric's NBC Universal.

World stocks hit a three-week high on Wednesday while government bonds fell broadly after Intel's forecast-beating quarterly results raised expectations of strong corporate earnings in the second quarter.

In all likelihood, India is set to go for commercial exploration of platinum following very promising discovery of the precious metal along the 150-km belt in Tamil Nadu and adjoining Kerala. Once the government takes a deeper exploration of 100-200 metres, the researchers expect the find to be even more substantial, which could lead to viable commercial exploration. Till now, the exploration has been carried out only up to 30 metres and it is very promising.

Global oil prices continued its overnight gains in Asian trade Wednesday mainly on signs of increase in fuel demand amid strong stocks and weak dollar. Light sweet crude for August delivery was seen trading at $77.19 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 76.75 a barrel in London. Stock markets across Asia rose to a three-week high, following the sixth straight rally for Wall Street, led by the technology sector after chip-maker Intel results beat expectations.

China's largest steel and iron conglomerate, Baosteel is planning to build a commercial plant near one of its factories to convert waste gas to ethanol. The plant, which will be built by New Zealand-based clean technology company LanzaTech, has an initial capacity to produce200 million litres of ethanol per year from the plant's waste gas.

Gold remained highly volatile in Asian trade Wednesday as prices mixed from overnight gains. Spot gold was seen trading at $ 1211.68 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $ 1212.02 am ounce on the Comex.

Chinese social networking websites that provide Twitter-like services have suddenly reverted to testing mode and access has been spotty amid reports of a government clampdown.

Asian stocks rose to a three-week high on Wednesday, led by gains in tech shares after Intel's results beat market expectations, while the euro held firm near two-month peaks against a softer U.S. dollar.

Smaller banks that got U.S. government bailout money are likely to run into trouble repaying it and may become vulnerable to takeovers as a result, a congressional watchdog agency warned on Wednesday.

GlaxoSmithKline Plc has agreed to pay $460 million to settle thousands of lawsuits over its Avandia diabetes pill, Bloomberg reported on Tuesday, on the eve of a crucial vote by U.S. experts on whether the pill should be withdrawn due to heart risks.

Resilient demand for PCs and servers helped Intel Corp's margin and revenue forecasts blast past Wall Street expectations, allaying fears of a technology spending slowdown and sending its shares up nearly 8 percent.

Senate Democrats on Tuesday appeared to nail down the votes needed to approve a historic overhaul of U.S. financial regulations and set up a final vote by the end of the week.

Asian stocks rose to a three-week high on Wednesday, led by gains in technology issues after Intel's results beat market expectations, while the euro held firm near two-month peaks against a softer U.S. dollar.

New AIDS plans released by the United Nations and the U.S. government on Tuesday stress smarter, targeted spending as a way to keep up the fight against the pandemic during a global recession.

Yum Brands Inc , parent of the KFC, Taco Bell and Pizza Hut chains, issued a disappointing full-year earnings outlook and said it expects labor costs to rise in its key China market, sending its shares down 3.2 percent.

The Australian Dollar has opened over one US cent higher this morning and is trading above USD0.8800.

The Australian Dollar climbed to its highest level in 3 weeks overnight as equities bounced upon expectations US corporate earnings will beat estimates.

CME Group Inc CEO Craig Donohue told employees he is pleased with many of the provisions in Washington's financial reform bill, but raised concerns about the leeway it gives regulators.

A new domestic AIDS policy rolled out by the White House on Tuesday asks states and federal agencies to find ways to cut new infections by 25 percent, get more patients treated quickly and educate Americans about the deadly and incurable virus.

The U.S. Commodity Futures Trading Commission risks hurting markets if it is too aggressive in flexing its regulatory muscle to rein in high-frequency traders, exchanges and participants are expected to tell the agency on Wednesday.