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The social cost of runaway bank pay

If only the economy were bouncing back as fast as banking compensation.

North Korea signals gentler approach to South

North Korea said on Wednesday leader Kim Jong-il had sent condolences on the death of former South Korean President Kim Dae-jung, the latest sign of a possible defrosting of relations between the rival Koreas.

Obama reaches out to Islamist parties in Pakistan

U.S. President Barack Obama has started reaching out to some of Pakistan's most fervent Islamist and anti-American parties, including one that helped give rise to the Taliban, trying to improve Washington's image in the nuclear-armed state.

Series of blasts kills 75, wounds 300 in Baghdad

A series of explosions killed at least 75 people and wounded more than 300 in central Baghdad on Wednesday, the deadliest day in the Iraqi capital since U.S. troops withdrew from urban centers in June.

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SEC warns investors on leveraged ETF holdings

U.S. securities regulators warned investors on Tuesday that leveraged exchange-traded funds could lead to big losses even if the market index or benchmark they track shows a gain.

UBS tax deal with U.S. seen as soon as today

Details of a deal to settle a U.S. tax case against Swiss bank UBS AG could come as soon as Wednesday and could have far-reaching implications for other wealth managers.

Macquarie buys U.S. asset manager for $428 million

Macquarie Group Ltd , Australia's top investment bank, agreed to buy U.S. asset manager Delaware Investments for $428 million in cash from Lincoln National Corp , continuing a trend of consolidation in the fund management business.

European banks identified in U.S. tax probe: report

Wealthy U.S. citizens using a government tax-evasion amnesty program have identified almost 10 European banks where they have accounts, the Wall Street Journal said, citing people familiar with the situation.

Stock futures signal losses; eyes on HP

Stock index futures pointed to a lower open on Wall Street on Wednesday, tracking a sell-off in Chinese shares on renewed worries the buoyant market had gone too far ahead of the economic recovery, and as oil prices dipped.

Oil slips towards $69 after surge on U.S. stock draw

Oil fell toward $69 on Wednesday, after surging more than 3 percent in the previous session on data that showed a surprise fall in U.S. crude stocks, boosting hopes of demand recovery in the world's top energy user.

U.S. regulators urged Citi to replace Kelly: report

Citigroup Inc was under direct pressure from U.S. regulators to replace former chief financial officer Ned Kelly, the Financial Times said, citing parts of a confidential agreement it viewed.

Asia stocks edge up but wary of China, oil jumps

Asian stocks edged up on Wednesday but hovered near three-week lows hit the previous day, with investors cautious ahead of Chinese bank results and wary that profit taking will continue to stall a six-month rally.

Oil rises towards $70 after surge on U.S. stock draw

Oil extended gains toward $70 on Wednesday, after surging more than 3 percent in the previous session on data that showed a surprise fall in U.S. crude stocks, boosting hopes of demand recovery in the world's top energy user.

Nikkei dips in cautious trade; Sanyo surges

Japan's Nikkei average dipped 0.2 percent in choppy trade on Wednesday, weighed down by investor caution after disappointing U.S. housing data, but blue-chip stocks such as Canon Inc and carmakers jumped after brokerage upgrades.

Oliver Stone to show

Film director Oliver Stone has a secret -- 10, at least -- and he is about to tell some them in a new documentary for U.S. cable television.

Nikkei dips in cautious trade

Banks switch one flawed pay system for another

Banks are lowering bonuses to defuse popular outrage, but by curtailing employee incentives, compensation experts say the banks and the U.S. government are failing to fix practices that led to the financial crisis.

Microsoft legal chief sees risk in Yahoo deal

Microsoft Corp has confidently described its planned search advertising deal with Yahoo Inc as a win-win, but the software company's legal chief is prepared to concede that the outcome is not certain.

Nikkei buoyed by Canon, automakers

Japan's Nikkei average rose 0.2 percent on Wednesday, buoyed by blue-chip stocks such as Canon Inc and carmakers after brokerage upgrades, while upbeat results from big U.S. retailers helped investor confidence.

Wednesday, 19 August 2009 - Market Commentary

The Australian Dollar opens higher today against the greenback at 0.8260.

Bank of America bolsters Canadian mergers team

Bank of America Merrill Lynch said on Tuesday it hired banking veteran Brad Cameron to head its Canadian mergers and acquisitions team, the latest sign a capital markets pick-up may be in the making in Canada.

Daily Wrap Up - August 18

Bing Creeping Up; Hedge Funds Soar; AIG's New Direction

China may seek more U.S. debts soon

China could still increase its holdings of US Treasuries if the dollar is stable, even though the long-term trajectory is to diversify its foreign exchange reserves, according to a former central bank governor.

GM to ink Tengzhong-Hummer deal in September

General Motor is to wrap up its Hummer deal with China's Tengzhong at the end of September, the Beijing Youth Daily reported on Monday.

AIG's new CEO takes scissors to restructuring plan

Robert Benmosche, the newly appointed chief executive of AIG , has started to cut up the insurer's restructuring plan, deciding it is better to hold on to an investment advisory unit that is part of the insurer's retirement services group.