UNITED STATES

Three of the world's biggest drugmakers posted better-than-expected quarterly earnings on Wednesday and gave bullish forecasts for the rest of the year, demonstrating the industry's resilience in the weak economy.

The Australian Dollar opens largely unchanged on Wednesday at 0.8160 and is pausing for breath after six days of steady gains versus its US counterpart. During the domestic session on Tuesday, the Aussie traded as high as 0.8178 after the minutes of the RBA's July 7 board meeting painted a picture of an economy in recovery mode.

U.S. Secretary of State Hillary Clinton sketched out on Wednesday how the United States might cope with a nuclear Iran -- by arming its allies in the Gulf and extending a defence umbrella over the region.

Surrounded by corn fields and cattle, the people of southeast Kansas seem far from the Washington debate on reforming U.S. healthcare but many care deeply about the issue and hope that change can come.

Some of the ideas proposed for U.S. healthcare reform could cost patients thousands of dollars a year out of their own pockets, and premiums could end up being too high, according to two reports.

U.S. President Barack Obama will plead his case for a broad healthcare overhaul in a prime-time news conference on Wednesday, with doubts growing about the plan even among his fellow Democrats and polls showing slipping public support.

Warnings that the world economy still faces a rocky road tempered market enthusiasms on Wednesday, with Japan indicating it might need to do more to ease credit pressures and Britain biding its time.

Apple Inc said it was awaiting results from an investigation into the death of a worker in China, after media reports said the man killed himself on learning he was suspected of leaking company secrets.

U.S. Secretary of State Hillary Clinton signed a friendship treaty with Southeast Asia on Wednesday, underlining Washington's renewed focus on a region that has increasingly come under China's influence.

Rising protectionism is a threat to a global economic recovery, the Asia-Pacific Economic Cooperation (APEC) group said on Wednesday, vowing to stamp out such policies.

Honduras' de facto government said on Wednesday that talks aimed at ending a deep political crisis following last month's coup have been delayed and it is waiting for new proposals from the mediator.

Prime Minister Benjamin Netanyahu rejected on Wednesday any notion he would order Israel's barrier in the West Bank to be torn down in response to the absence of Palestinian attacks from the occupied territory.

Research In Motion looks like an odd suitor for Nortel Networks' mobile network equipment unit but the deal could help the BlackBerry smartphone maker plug gaps in its technology patent portfolio.

Hyundai Motor Group, the world's No.5 automaker, said on Wednesday it would invest $3.3 billion in green projects to meet the government's stricter fuel efficiency and emission requirements, joining a recent series of eco-friendly investments by South Korean firms.

The United States is concerned about the possible transfer of nuclear technology from North Korea to military-ruled Myanmar, U.S. Secretary of State Hillary Clinton said on Wednesday.

Energy Conversion Devices Inc., a maker of thin-film flexible solar panels, will acquire Solar Integrated Technologies, Inc., for $16.3 million, the companies said in a statement Wednesday.

U.S. chipmaker Intel Corp on Wednesday appealed to Europe's second highest court against an antitrust finding and a 1.06 billion euro ($1.50 billion) fine levied by EU regulators.

PepsiCo Inc posted a bigger-than-expected quarterly profit, helped by growth in its international business, but revenue fell short of expectations as North American beverage sales fell, putting pressure on the company to close deals to buy its two big U.S. bottlers.

Major automakers asked the U.S. Environmental Protection Agency not to approve higher blends of ethanol in gasoline until the agency has adequate test results showing the fuel would not damage vehicles.

Bernanke on the Hill; Earnings Watch; Housing Index

U.S. stock index futures pointed to a lower open on Wednesday after a batch of corporate earnings mostly beat lowered expectations, but the key financial sector continued to show signs of weakness.