European shares extended a rally into a fourth session on Wednesday, with miners reversing earlier losses after resource-hungry China cut the reserve requirement for banks to ease credit strains and bolster its economy.
Australia's foreign minister on Wednesday backed the formation of a security pact with India and the United States, a tie-up that could fuel China's worries of being fenced in by wary neighbors.
China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.
India's economy grew at the slowest pace in more than two years, according to the recent Gross Domestic Product (GDP) numbers which shows the country's economy rose 6.9 percent in the July-September quarter.
Stock index futures rose on Wednesday after China unexpectedly cut its banks' reserve requirements in hopes of boosting an economy running at its weakest pace since 2009.
China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.
India's Gross domestic product growth fell to 6.9 percent in the second quarter of the financial year. The GDP growth figure is the weakest pace in more than two years.
Stocks fell and the euro weakened Wednesday after Standard & Poor's hit some of the world's leading banks with a credit downgrade and euro zone leaders' move to ramp up the regional bailout fund drew a tepid response.
Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
China announced a new standard for defining poverty Tuesday as it seeks to bridge the gap between the country's wealthier and poorer classes.
Europe's debt crisis threatens to undermine consumer confidence and cut off credit to businesses in the rapidly emerging markets that have been bright spots in an otherwise grim global economy, the head of the World Bank warned on Tuesday.
So far, it has been a tough week for the troubled Bank of America Corp. (BAC). The firm's stock hit a new 52-week low Tuesday, dropping more than 3 percent to $5.03 a share, the lowest level since March 12, 2009. After the market closed, more bad news came as Standard & Poor's downgraded the bank's long-term credit rating by a notch to A- from A.
In a speech at St. Anselm College in Manchester, N.H., on Tuesday, Rick Perry seemed to mix up the voting and drinking ages -- not to mention the date of the coming election. It was a slip of the tongue, not a substantive gaffe -- nobody really thinks Perry doesn't know the voting age -- but it was one of many YouTube-worthy moments of the Republican primary race.
Several airlines have cancelled flights in preparation for the Nov. 30 UK strike when Border Agency employees will walk off the job to protest pension reform.
French film and stage actor Alain Delon sold a thousand bottles of his wine collection on Saturday with a big Chinese buyer pushing the auction results well above pre-sale estimates.
Thomas H. Lee Partners is interested in buying the U.S. operations of Yahoo Inc, breaking away from other bidders that are for now eyeing either a minority stake or teaming up with the Internet giant's partners in Asia, sources familiar with the matter said.
China's Ministry of Industry and Information Technology has ordered local governments to shut small gold mines with a daily ore processing capacity of less than 50 tonnes and is working on a plan to consolidate the sector, the Shanghai Securities News said on Tuesday.
Three prospective school teachers have appealed to Chinese Premier Wen Jiabao to end discrimination against people with HIV after they said they were wrongly denied teaching jobs because their employers discovered they had the virus that causes AIDS.
Thomas H. Lee Partners is interested in buying the U.S. operations of Yahoo Inc, breaking away from other bidders that are for now eyeing either a minority stake or teaming up with the Internet giant's partners in Asia, sources familiar with the matter said.
Tiffany & Co gave a holiday quarter profit outlook that missed Wall Street expectations, and fears that its gross margin could slip further and the pace of sales gains is slowing sent shares down nearly 7 percent.
Worries about the euro zone's debt crisis worsened in November and dragged the European Commission's economic and consumer sentiment index to a two-year low, heightening the risks of a recession in Europe.
International air freight traffic was 4.8 percent lower in October than a year previously, while international passenger traffic grew 4.6 percent but at a slowing pace, the International Air Transport Association said on Monday.
