IBT Staff Reporter

Stock index futures rose on Wednesday after the previous day's tumble as investors expect a statement from the Federal Reserve's rate-setting committee that it will keep interest rates exceptionally low for an extended period.

China's yuan eked out a tiny gain on Wednesday after its biggest swings since 2005 earlier this week, suggesting Beijing's promise of currency flexibility will not produce the rapid gains its trading partners would like.

Slowly, gold import is picking up momentum in India with the Diamond India (DIL), formed by 58 diamond manufacturers for the direct import of rough diamonds, announcing that it will import around 100 kg of gold in July.

IPhone chief Steve Jobs and his tech titan friends take an unusual consulting opportunity on Wednesday: helping Russian President Dmitry Medvedev turn around his creaky economy.

In an attempt to better regulate its gold market, South Korea said Wednesday it will open a gold exchange inside its main bourse in January 2012.

Las Vegas Sands' bet on gambling-wary Singapore may be paying off. The world's most valuable casino firm said its $5.5 billion casino resort in the city state is on track to draw up to 150,000 visitors a day once things are in full swing, the highest number for any of its properties worldwide.

The yuan CNY=CFXS closed slightly higher on Wednesday after the central bank nudged the mid-point higher, but dollar buying by state-controlled banks suggested that officials were trying to keep currency gains in check.

Is Zimbabwe's negative image of producing blood diamonds a result of falsified documents? It is now alleged that a person heading a non-governmental organisation had created false documents regarding human rights violations in Chiadzwa diamond fields and gave it to Kimbler Process. Zimbabwe's high court has refused bail to a man accused of jeopardizing the country's ability to trade diamonds on the international market, prosecutors say.

The European Union formally requested in a letter on Wednesday that the world's largest economies explore the introduction of a global tax on financial transactions. Writing to the G20 before a summit in Toronto on June 26-27, Herman Van Rompuy, the president of the EU Council which represents EU member states, said the world needed a level playing field on bank levies and transaction taxes.

Nepal's central bank, Nepal Rastra Bank (NRB) has increased the quota of gold import by an additional 10 kg a day to 20 kilogram per day till July 7.

Gold prices continued to trade higher in Asian trade Wednesday mainly on weak equity markets while ETF holdings rose to another record. Gold for immediate delivery was seen trading at $1240.24 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1240.18 an ounce.

Stock index futures pointed to a stronger start for U.S. equities on Wednesday, rebounding from a fall in the previous session when stocks suffered due to weak housing data.

European and Asian stocks fell on Wednesday as poor U.S. home sales added to fears about the global economic recovery and optimism over China's new flexible yuan policy faded.

Asian stocks slid on Wednesday and European markets were expected to follow suit as poor U.S. home sales added to fears about the global economic recovery and optimism over China's new flexible yuan policy faded.

LOS ANGELES - Mark Burnett's Shark Tank will return to ABC this summer -- for one episode. The airing is a holdover from last season. The well-regarded, if ratings challenged, reality effort will air Thursday, July 15, at 8 p.m., with Shark repeats airing in the following weeks.

Apple Inc's hot-selling next-generation iPhone sports chips from Samsung Electronics, Micron Technology and STMicroelectronics, according to an early teardown, or disassembly analysis by technology firm iFixit.

The euro held steady on Wednesday but remained vulnerable as a recent risk rally appeared to have run its course and on concerns about the euro zone banking system. A sharp fall in U.S. stocks .SPX the previous day and a subsequent drop in the Nikkei .N225 helped support the dollar and the yen, which are favoured when risk aversion spikes and doubts over the health of the global economy emerge.

Oil prices fell for a second day on Wednesday, as much as 1 percent, on unexpected gains in U.S. crude and gasoline stocks in an industry report, while weak U.S. home sales drove equities lower and dampened risk appetite.

Gold edged up on Wednesday, tracking an increase in ETF holdings as investors sought a safe haven from sliding stock markets and worries about the pace of global economic recovery.

The dollar and the yen were broadly steady on Wednesday while the euro and high-yielders were on the defensive as a recent risk rally appeared to have run its course and the euphoria from China's new yuan policy waned.

The yuan CNY=CFXS inched up on Wednesday after the central bank nudged the mid-point higher, but dollar buying by state-controlled banks suggested that officials were trying to keep currency gains in check.

Free video website Hulu is in talks with CBS Corp, Viacom Inc and Time Warner Inc to add their television shows to its planned paid subscription service, Bloomberg reported, citing people with direct knowledge of the discussions.

Asian stocks slid on Wednesday as an unexpected fall in U.S. home sales added to worries about the fragility of the global economic recovery and optimism over China's promise to make the yuan more flexible faded further.

The Federal Reserve is expected to renew its promise to hold benchmark interest rates exceptionally low for an extended period on Wednesday and may acknowledge a slight slowdown in the pace of U.S. economic recovery.

The U.S. Federal Communications Commission on Tuesday approved Verizon Wireless's $2.35 billion wireless spectrum license sale to AT&T Inc.

A U.S. Congressional panel investigating Johnson & Johnson's widespread recall of consumer medicines wants the company's chief executive officer to testify at a second hearing.

British scientists who conducted the largest study yet into cell phone masts and childhood cancers say that living close to a mast does not increase the risk of a pregnant woman's baby developing cancer.

Adobe Systems Inc's revenue surged after it launched a new version of its widely used design software, giving the company fuel to back up its claim that sales are not being hurt by a high-profile dispute with Apple Inc .

Apple Inc has sold 3 million iPads in less than three months, a faster-than-expected pace that boosted its stock days before the company's newest iPhone hits store shelves.