Investors gauge Fed's plans as ECB acts again
Investors weighed up on Wednesday the prospects of a near-term U.S. rate cut to calm a financial storm stemming from America's faltering home loan sector, as the European Central Bank moved to soothe money markets again. Indicating liquidity problems were far from over, the ECB said it would hold a tender to add 40 billion euros in 91-day funds to the euro money market on Thursday -- a technical measure aimed at supporting the normalisation of the market.
FDIC eyeing big banks as troubled home loans rise
The Federal Deposit Insurance Corporation, which insures bank deposits, said on Wednesday it is closely monitoring credit markets and the biggest U.S. banks' balance sheets as troubled real estate loans rose 36 percent in the quarter ended June 30.
Fed cash not reaching mortgage players forcing sales
The Federal Reserve's attempts to provide liquidity in the past few days are not reaching the players who need it since they cannot borrow directly from the central bank, leaving the $7.2 trillion U.S. mortgage bond market struggling to clear the volumes being offered.
Toyota to make small car in 2 years
Japanese car maker Toyota Motor Corp is looking to launch a small car within two years, and the first production facility may be in India, its chairman said on Wednesday.
Agency MBS succumbs to global credit squeeze
Tightening global credit markets have taken a toll on U.S. mortgage-backed securities issued by Fannie Mae and Freddie Mac and it will take more than recent Federal Reserve measures to boost liquidity.
Surge in international travel spurs online battle
Surging growth in international travel is driving revenue increases at the foreign units of U.S. online travel agencies and has spurred heated competition for a bigger slice of the lucrative and expanding market.
H&R Block unit taps working capital lines twice
H&R Block Inc said on Wednesday its Block Financial Corp. unit tapped working capital credit lines twice as a skittish market cuts off its access to short-term debt financing.
TD Ameritrade and E*Trade in merger talks: report
Online brokerages TD Ameritrade Holding Corp and E*Trade Financial Corp have been in serious merger discussions for weeks but are not close to a deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Bank shocks cast doubts on new risk rules
Shock losses at some of the world's biggest banks have left some people asking whether new global bank risk rules have failed their first test of fire.
Sharp says develops thinnest, lightest LCD TVs
Sharp Corp said it has developed the world's thinnest and lightest LCD TVs with enhanced picture quality, in a pre-emptive move before the release of organic light-emitting diode TVs, known for their thin displays and crisp images.
iRobot revamps vacuums, plans more home robots
iRobot Corp, a robot maker that sells floor cleaners as well as devices that defuse bombs, introduced on Wednesday a new line of vacuums in hopes of generating cash to invest in a wider range of products.
Google CEO says mobile auction bid still probable
Google Inc. is leaning toward bidding in upcoming U.S. mobile phone airwave auctions, despite a partial setback last month from Washington regulators, Chief Executive Eric Schmidt said on Tuesday.
Microsoft targets hard-core gamers with new mouse
Microsoft Corp. said on Tuesday it plans to introduce a computer mouse designed for PC gaming, in an effort to capture a growing segment of the computer peripheral equipment market.
EU-wide approval eyed for mobile satellite service
A new service for mobiles that would provide telephony, television and Internet via satellite could be operational within a few years under a proposal made by the European Union's executive arm on Wednesday.
Video game market to grow 50 pct in 4 yrs: Ubisoft
The market for video games is expected to expand by half over the next four years as it extends beyond hardcore gamers, the chief executive of French video game publisher Ubisoft said on Wednesday.
Google Earth to launch new service for stargazers
Popular mapping service Google Earth will launch a new feature called Sky, a virtual telescope that the search engine hopes will turn millions of Internet users into stargazers.
Investors more daring as U.S. rate cut talk grows
Shares rose on Wednesday as hopes grew of a U.S. interest rate cut to calm turbulent markets but an increase in risk appetite sent bonds lower and put the yen under pressure.
Yen retreats as carry trade regains favor
The yen fell and high-yielding currencies rose on Wednesday as growing expectations of a U.S. rate cut to ease tight liquidity conditions instilled a sense of calm and prompted investors to reenter risky carry trades.
Rate cut hopes and deal news lift stocks
Stocks gained on Wednesday, boosted by optimism about renewed deal activity and ongoing speculation the Federal Reserve might cut its benchmark interest rate to calm turbulent financial markets.
Toll Brothers quarterly profit falls sharply
Toll Brothers on Wednesday reported sharply lower quarterly profit amid tightening credit standards that the builder said would likely to shrink the number of potential home buyers.
Nasdaq listening to OMX owners, flexible on bid structure
Nasdaq Chief Executive Robert Greifeld said on Wednesday he was listening to OMX owners and repeated the U.S. exchange group was flexible on the terms of its offer for the Nordic firm.
China warns on U.S. soy as Chinese goods under scrutiny
China, the world's top soy importer, has accused the United States of exporting substandard soybeans even as its own exports come under growing scrutiny abroad over safety concerns.
Japan omits China, asks Asian democracies to unite
Japanese Prime Minister Shinzo Abe called on Wednesday for a broader Asia partnership of democracies that would include India, the United States and Australia but leave out the region's superpower, China.
Russia bans Italian poultry to stop bird flu
Russia banned poultry imports from Italy starting Monday to prevent the spread of the bird flu virus after outbreaks in the EU member state, but Italy said the strain was not dangerous and the ban impact was negligible.
Accredited Home halts lending, to cut 1,600 jobs
Accredited Home Lenders Holding Co said on Wednesday it has stopped taking loan applications and will cut 1,600 jobs, citing turmoil in the subprime mortgage industry. Accredited said it will close substantially all of its retail lending business, consisting of 60 branches and five central support operations.
Coal dependency seen braking China's climate drive
China will have trouble cutting its dependence on coal despite growing pressures to fight global warming, a leading Chinese official said.
Tesco launch stirs high hopes in U.S. food deserts
The site for one of Tesco Plc's first stores in the United States is a sun-scorched intersection in the sprawling Phoenix valley, opposite two pay-day loan firms and a gas station minimarket.
Indian left ponders how far to push nuclear row
Indian communists sought to forge a consensus on Wednesday over whether to end support to Prime Minister Manmohan Singh's coalition government over a controversial nuclear deal with the United States.
China mine safety slammed as hopes fade for 181
Desperate efforts to save 181 Chinese coal miners from two shafts flooded with water and mud faced near impossible odds on Wednesday, as a safety official said mine owners had failed to anticipate the threat of disaster.
Nicaragua embargoes Esso assets in tax dispute
A Nicaraguan judge has embargoed assets of U.S. oil company Esso Standard Oil in a tax payment dispute between the government of leftist President Daniel Ortega and the unit of giant ExxonMobil Corp, a government aide said on Tuesday.
