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Asia stocks hit 10-month high on earnings, growth

Asian stocks climbed to a 10-month high on Thursday led by energy shares, though some investors wondered if upward momentum from corporate earnings reports justified increasingly pricey valuations.

Daily Wrap Up July 22 â€“ Finance

Federal Reserve chairman, Ben Bernanke spoke Wednesday for a second day of testimony on the Fed's semiannual monetary policy report. Bernanke tried to assure members of congress that the economy was on the mend and that tackling the rising unemployment rate is one of the most difficult and challenging parts of our task at this point. The overall economic situation remains very poor, he said. The Fed expects the recovery to start off very slow and pick up speed over time, he said.

Chinese firm seals $3.6B investment deal in Zambia

A Chinese firm has signed a $3.6 billion investment Promotion and Protection Agreement (IPPA) with Zambia in copper exploration and mining industry, a senior investment official said on Wednesday.

Loan losses drag on Wells Fargo, other big banks

Wells Fargo & Co and other major U.S. banks said the troubled economy drove big increases in loan losses, reducing second-quarter earnings.

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Beijing govt backs BAIC's bid for overseas assets-sources

The Beijing municipal government will fully support a bid by Beijing Automotive Industry Holding Corp (BAIC) for Ford Motor's (F.N) Volvo car unit if the Chinese automaker fails in its current quest for General Motors' Opel, sources said on Wednesday.

Morgan Stanley posts third straight quarterly loss

Morgan Stanley on Wednesday reported a third straight quarterly loss, falling further behind chief rival Goldman Sachs as fixed income and asset management results disappointed.

Wells Fargo loan losses rise

Wells Fargo said on Wednesday the loan losses increased in the second quarter as borrowers battled to keep their payments up to date. The bank dropped as much as 7.6 percent in New York trading.

CORRECTED: Morgan Stanley posts third straight quarterly loss

(Corrects revenues figures in 4th paragraph)

Maliki to meet Obama, seek support for investment

Iraqi Prime Minister Nuri al-Maliki meets President Barack Obama on Wednesday in a visit aimed at asserting Iraq's newfound sovereignty and encouraging foreign investors to return to the war-ravaged country.

Wells Fargo profit rises; credit losses up

Wells Fargo & Co on Wednesday said quarterly profit increased 47 percent as strong mortgage banking results and the acquisition of Wachovia Corp offset rising credit losses.

Delta Air Lines posts quarterly loss

Delta Air Lines Inc , the world's biggest carrier, reported a quarterly loss on Wednesday and said it was not planning for any meaningful rebound this year as the recession hurts air travel.

Futures point lower ahead of earnings

Stock index futures fell on Wednesday, a day after the Nasdaq stock index clinched a 10-day winning streak, as investors braced for another round of quarterly results from bellwethers including Morgan Stanley and Boeing Co .

Stock futures signal losses; eyes on Apple

U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, following recent gains, as investors braced themselves for more results from bellwethers such as Morgan Stanley , PepsiCo , Pfizer , Boeing and Wells Fargo .

Asia stocks extend rally, credit spreads shrink

Asian shares inched up to a 10-month peak on Wednesday, but gains were kept in check as investors booked profits in the belief that the run up in stocks had become overstretched.

Skeptical investors wade back into hedge funds

Investors vexed by losses and shoddy treatment last year are not abandoning hedge funds, as feared, but are making fund managers bend.

JPMorgan's Dimon makes $2.3 million from options

JPMorgan Chase & Co Chief Executive Jamie Dimon made a $2.29 million pretax profit by exercising stock options and then selling most of the resulting shares of the second-largest U.S. bank.

JPMorgan's Dimon makes $2.29 million from options

JPMorgan Chase & Co Chief Executive Jamie Dimon made a $2.29 million pretax profit by exercising stock options and then selling most of the resulting shares of the second-largest U.S. bank.

JPMorgan CEO Dimon makes $2.29 mln from options

JPMorgan Chase & Co Chief Executive Jamie Dimon made a $2.29 million pretax profit by exercising stock options and then selling most of the resulting shares of the second-largest U.S. bank.

China International Travel Service approved for $250 m IPO

China International Travel Service Corporation Limited got approval from the China Securities Regulatory Commission (CSRC) for an initial public offering (IPO) on the Shanghai Stock Exchange, the securities regulator said on Monday.

BlackRock profit, assets under management fall

Asset manager BlackRock Inc said second-quarter profit fell from a year earlier as assets under management declined, but results rebounded from the first quarter as markets recovered.

Commercial mortgage failure at 20-year high in U.S.: report

Commercial mortgages at U.S. banks have been failing at the fastest rate in nearly 20 years, the Wall Street Journal said, citing its own analysis.

Merrill may sell management of Asian property fund: source

Bank of America's (BAC.N) Merrill Lynch is in talks with several firms including Blackstone (BX.N) and Apollo Investment Management to sell management rights of its $2.65 billion Asian Real Estate Opportunity Fund, a source with knowledge of the deal said.

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