IBT Staff Reporter

When the global economic crisis hit in the autumn of 2008 there was a joke in Portugal that the world was finally catching up, and stumbling as it had after its own, home-grown housing bust in the early 2000s.

The Australian dollar fell and bonds jumped on Wednesday on decreased chances of an interest rate rise in February, while Japanese bank shares surged on a report of a possible delay in new global bank capital rules.

The U.S. Federal Reserve is expected to stick to its super loose monetary policy stance on Wednesday as high unemployment constrains policy-makers' enthusiasm about the economy's recent improvement.

Shares of Japan Airlines Corp jumped 4 percent on Wednesday after the struggling carrier said most of its retirees were willing to accept cuts to pension payouts.

Thai investigators said Tuesday they have found mass weapons including rocket-propelled grenades, components for surface-to-air missiles and other armaments seized from a plane setting off via North Korea.

Top chief executives from the U.S. manufacturing sector will attend a meeting hosted by Vice President Joe Biden in Washington on Wednesday, a White House spokesman said on Tuesday.

Top Federal Reserve officials in charge of setting the nation's monetary policy are expected to continue offering banks at record low interest rates, when they finish their last scheduled meeting of the year Wednesday.

The U.S. government quietly agreed not to collect billions of dollars in potential taxes from Citigroup Inc as part of its deal to allow the bank to repay its taxpayer bailout, The Washington Post reported.

General Electric Co expects to record flat profit across its big industrial units next year, as a sluggish global economy crimps sales for jet engines, electric turbines and other heavy equipment.

Day trading is simply the buying and selling of any financial instrument in the same trading session. This is different from investing or swing trading.

Fed on Cruise Control; Flat Sales Ahead at GE; Boeing's Dream

Gold prices were flat at around $1,125 per ounce on Wednesday ahead of the conclusion of the U.S. Federal Reserve's two-day policy meeting, which could provide clues about the timing of interest rate moves.

Shares of Japan Airlines Corp jumped 4 percent on Wednesday after the struggling carrier said most retirees were willing to accept cuts to pension payouts.

Oil prices rose above $70 a barrel on Tuesday, snapping their longest losing streak since 2001, as traders bet that government data will show U.S. crude inventories fell last week and colder-than-normal weather will boost demand for heating oil.

On December 14, FedEx Corp's busiest day this year, when the shipper handled almost double its normal number of packages, the entire system stretched to accommodate the global gift-giving frenzy that culminates nearly two weeks later around Christmas.

So Shooters, today's big news: Citigroup to pay back $20 billion in TARP to government. Why stop so soon the magic IV drip known as TARP funding (which had just been so graciously extended by Treasury)? Well, it's not because the company is back in good health. They just want to keep ahead of the talent-poaching with the zombies doing jumping jacks - the likes of Goldman Sachs.

Regulators were poised to open up the U.S. cable market to more competitors by closing a cable loophole blocking access to some sports programs to competitors, a source familiar with the issue said on Tuesday.

U.S. bank regulators on Tuesday approved an initial proposal to jump-start the securitization market and strengthen standards to avoid abuses that helped lead to the economic crisis, but the board remained divided on what limits to impose on banks.

The United Nations Climate summit (COP15) is likely to reach a final deal as world leaders were beginning to arrive at Copenhagen.

Microsoft said it was temporarily suspending its MSN China microblogging site, Juku, as it investigates a complaint of plagiarism from a start-up, Plurk.

Chinese auto parts maker Ningbo Yunsheng Co (600366.SS) plans to buy a 79.1 percent stake in unlisted Japanese auto parts firm Nikko Electric Industry Co, the Nikkei business daily reported on Wednesday.

Federal Reserve Chairman Ben Bernanke, in a response to a lawmaker's questions made public on Tuesday, said the U.S. economy is operating so far beneath its potential that inflation is unlikely to become a problem.

Borders Group, the bookstore chain criticized by some for being late to enter the digital books and readers market, has teamed up with fledgling Kobo Inc to set up an online store for mobile devices by 2010's second quarter.

A U.S. grand jury on Tuesday indicted Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi on charges of securities fraud and conspiracy in an insider trading case involving employees of some of America's best-known companies.

- Hearings planned by a U.S. lawmaker to look into Exxon Mobil Corp's (XOM.N) takeover of XTO Energy Inc (XTO.N) would pose little risk to the completion of the merger, an analyst said.

Rather than talk about sweetening its 789 pence-per-share offer for Cadbury — say, to the 820-850 pence level analysts think is needed — Kraft is urging shareholders to take a long hard look at Cadbury's revenue growth targets

(Corrects to remove erroneous reference to GE 2010 revenues being down 5 percent and 10 percent in paragraph 6)

Stocks fell on Tuesday, with the Dow and S&P 500 moving off 14-month highs, as a climb in producer prices raised inflation concerns and economic bellwether General Electric issued a flat outlook for 2010.

The Italian Prime Minister Silvio Berlusconi issued his first public statement on Tuesday saying that love always defeats envy and hatred two days after he was attacked.