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KKR's lower earnings miss estimates, shares fall

Private equity firm KKR & Co reported lower-than-expected second-quarter earnings on Wednesday as investment income declined and the value of its investments rose less than the previous year, sending its shares lower.

Essar to invest up to $4 bln in Zimbabwe steel plant

Robert Mugabe
Indian conglomerate Essar plans to spend up to $4 billion constructing a plant to process iron ore from Zimbabwe's Mwanesi resource within the next five years, Industry and Commerce Minister Welshman Ncube said on Wednesday.
A couple walks on the grounds of the U.S. Capitol Building during a snow storm in Washington

U.S. rating maintained by Moody's and Fitch

The United States had its triple-A rating confirmed by two key ratings agencies on Tuesday after Washington struck a last-minute deal to avoid a debt default, but threats of future downgrades remain.
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At Issue: U.S. Debt Deal

Senate Expected to Pass Debt Deal Bill, Markets Relieved

The U.S. is one Senate vote away from averting a federal government default and toward taking a step in the direction of fiscal health: The Senate is expected to vote and pass the bipartisan debt deal legislation Tuesday around noon EDT, and President Barack Obama is expected to sign it quickly.
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'Headwinds' should keep RBA at bay

The TD-MI Monthly Inflation Gauge has indicated a 0.3% rise in July, bringing the year-on-year figure to 3.2%. The result takes inflation above the Reserve Bank's target band of two to three per cent.
The Bank of Korea governor Kim answers a reporter's question during a news conference after a rate setting meeting at the bank's headquarters in Seoul

Bank of Korea buys gold, first time since '97-'98

South Korea's central bank bought 25 tonnes of gold over the past two months in its first purchase in more than a decade, saying the time was ripe to boost its gold holding, but markets barely moved on the news.
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Synchronoss Q2 beats Wall Street, ups FY11 outlook

Communication software maker Synchronoss Technologies Inc posted better-than-expected quarterly results, helped by a 13 percent jump in revenue at its largest customer, AT&T Inc, and raised its full-year outlook.
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HighTower lands Merrill private banking team

HighTower Advisors, a firm that is expanding by poaching financial advisers from the big brokerages, on Monday said it hired a private banking team from Merrill Lynch managing more than $1 billion of client assets.
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HighTower lands Merrill private bankers

HighTower Advisors, a firm that is expanding by poaching financial advisers from the big brokerages, said on Monday it hired a private banking team from Merrill Lynch managing more than $1 billion of client assets.
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Why Twitter Isn't Worth $8 Billion

Twitter announced on Monday that it had received another significant investment, this time $800 million from Russian investment firm DST Global. The deal gives the social media company an $8 billion valuation, but a big question still remains--why?

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