MARKETS / FINANCE

The euro is on the strong side against the dollar and could strengthen more because of carry trades and speculative play on its possible further rise, IMF European head Marek Belka said on Wednesday.

U.S. stock index futures were flat on Wednesday as investors awaited a private-sector employment report and the Federal Reserve's Beige Book of regional economic conditions.

Britain's top share index shed 0.4 percent by midday on Wednesday, with falls by banks and oils offsetting gains by miners, Vodafone (VOD.L) and some defensives.

U.S. stock index futures were flat on Wednesday as investors awaited a private-sector employment report and the Federal Reserve's Beige Book of regional economic conditions.

The yen weakened broadly on Wednesday as traders took Japan's new monetary policy measures unveiled the previous day as a cue to sell, while mixed signals from stocks and commodities kept the dollar in check.

Contagion from emerging markets Ukraine and Dubai, debt in the eurozone's weakest economies, British politics, climate talks in Copenhagen and tensions with Tehran could all affect Western European markets in December.

News, details on corporate bond issues in the European markets on Wednesday:

World stocks ticked higher on Wednesday with anxiety over Dubai's debt problems taking a backseat and focus shifting to this week's economic numbers and the European Central Bank's rate meeting.

European equities edged lower on Wednesday after their biggest one-day gain in more than 4 months in the previous session, as a decline in banking stocks offset higher pharma and food shares.

Wells Fargo & Co said on Tuesday that it would fold up 122 California branches due to its takeover of Wachovia Corp last year, the Los Angeles Times reported.

Dubai World's creditors have formed a committee comprising six banks that will meet with the troubled state-controlled conglomerate next week, a bank executive familiar with the matter said on Wednesday.

Federal Reserve Chairman Ben Bernanke vowed before taking office to follow in the footsteps of his storied predecessor, Alan Greenspan, but he will likely distance himself from the past as he seeks a second term.

Stock index futures pointed to U.S. shares mostly extending their gains on Wednesday, with the Dow Jones industrial average having hit a 14-month closing high in the previous session.

Foreign firms and individuals will be allowed to set up limited partnership firms in China from March 2010, a move that could make it easier for some overseas investors to tap the domestic market.

Gold surged to an all-time high above $1,200 an ounce on Wednesday, hitting a record for a second straight day, and Asian stocks advanced as investors chased riskier assets offering higher returns.

General Motors Co's chief executive Fritz Henderson abruptly resigned on Tuesday, after the company's board decided the automaker needed to push its restructuring faster under new leadership.

General Motors Chief Executive Frederick Fritz Henderson stepped down at the request of the company's board of directors on Tuesday and will be replaced by current Chairman Ed Whitacre.

Corrects month that Henderson was named CEO of GM, paragraph 4

General Motors Co's board of directors, citing a need to chart a new course, dismissed Chief Executive Fritz Henderson on Tuesday, a person with direct knowledge of the proceedings said.

Corrects paragraph 4 to show Henderson was named CEO of GM in March instead of April

The U.S. Federal Reserve must be prepared to raise interest rates if needed before the jobless rate has fallen to an acceptable level, or risk losing its inflation-fighting credibility, a senior Fed official said on Tuesday.

General Motors Co's board of directors fired Chief Executive Fritz Henderson on Tuesday, saying it wanted to chart a new course as the top U.S. automaker pushes ahead with its restructuring.

The Dow Jones industrial average climbed to its highest close in 14 months on Tuesday as a weak dollar boosted natural resource companies' shares and economic data reinforced hopes for a sustainable recovery.

The RBA increased interest rates by 0.25% for the third consecutive month taking the official cash rate to 3.75% in a move that surprised some sections of the market.

It is a good sign that many of the Federal Reserve's emergency facilities are winding down organically as the economy recovers and markets are no longer reliant on them, a senior Fed official said on Tuesday.

Regional Federal Reserve banks favored keeping interest rates low in November because of the risk an economic pickup might falter on weakening consumer spending.

U.S. stocks rose on Tuesday, sending the Dow Jones industrial average to its highest close in 14 months, as a weak dollar boosted natural resource companies' shares and housing data reassured investors about the recovery.

Nokia Siemens Networks (NSN) will object in bankruptcy court to Ciena's $769 million purchase of Nortel's optical networking and carrier ethernet business, and is ready to raise its offer to $810 million in cash, a Nokia Siemens spokesman said on Tuesday.

The U.S. manufacturing sector grew for the fourth straight month in November, though at a slower pace, and questions remain about the staying power of the incipient economic recovery.