MARKETS / FINANCE

Economist Joseph Stiglitz on Tuesday questioned the trustworthiness of a key European Union government test to measure the health of the banking industry.

Stocks were set to open lower on Wednesday after two days of strong gains, as investors await the unofficial beginning of the earnings season.

Financial institutions borrowed $25 billion for 70-days from the Federal Reserve this week as groups continue to advantage of a program to ease credit worries by injecting money into the economy.

Stock futures turned negative ahead of the open on Wednesday after a two-day run-up , as investors paused before the start of the quarterly earnings season.

The following are key comments from Hungarian Prime Minister Gordon Bajnai in an interview with Reuters on Wednesday.

Stock futures were little changed on Wednesday, but could build on the previous session's gains on the strength in commodities.

European shares were lower at midday on Wednesday after sharp gains in the previous session on global economic recovery hopes, with banking and industrial engineering shares leading the decline.

Britain's top share index eased in mid-session trade on Wednesday, with weakness in energy and food retailers offsetting some strength in miners and banks, as investors await the start of the third-quarter corporate results season in the United States.

Millions of American job-hunters risk permanent unemployment as industries undergo radical change and some skills become irrelevant in the wake of the worst U.S. economic recession in 70 years.

* U.S. stock index futures pointed to a higher open for Wall Street on Wednesday, extending the previous session's sharp gains and ahead of the start of third-quarter earnings season, with aluminium group Alcoa (AA.N) the first in line.

Stock index futures were little changed on Wednesday, but could build on the previous session's gains on the strength in commodities.

Stock futures pointed to a higher open for Wall Street on Wednesday, extending the previous session's sharp gains and ahead of the start of third-quarter earnings season, with aluminum group Alcoa the first in line.

Oil prices rose for the third straight day on Wednesday, edging above $71 a barrel after an industry report showed a drawdown in U.S. crude inventories, boosting the view demand was recovering.

Americans will have to save more in the future, transforming the global economy, and Europeans and Japanese must work to boost domestic demand, U.S. Treasury Secretary Timothy Geithner was quoted as saying on Wednesday.

Vivendi (VIV.PA) is likely to sell its 20 percent stake in media company NBC Universal (NBCU) and may discuss the matter at a board meeting on Oct. 14, a source close to the situation told Reuters on Wednesday.

European shares edged higher in early trade on Wednesday, building on a major gain in the previous session, with miners among the biggest risers. At 0838 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.2 percent at 995.15 points.

Britain's top share index was flat early on Wednesday as investors paused for breath after the previous session's sharp rise, with gains in miners offsetting weak energy stocks and ahead of the U.S. third-quarter earnings season.

U.S. stock index futures pointed to a higher open for Wall Street on Wednesday, extending the previous session's sharp gains and ahead of the start of third-quarter earnings season, with aluminium group Alcoa (AA.N) the first in line.

U.S. stock index futures pointed to a higher open for Wall Street on Wednesday, extending the previous session's sharp gains and ahead of the start of third-quarter earnings season, with aluminum group Alcoa the first in line.

Julius Baer will buy ING's Swiss private banking assets for 520 million Swiss francs ($507 million), the European wealth management industry's biggest deal since the crisis began.

A U.S. Federal Reserve report found that banks in the country are slow to take losses on their commercial real estate loans that have been hit by slumping property values and rental payments, the Wall Street Journal said.

Gold slipped slightly from its all time high on Wednesday as the dollar steadied, while global stocks rose for the third day in a row.

A Federal Reserve official said on Tuesday that while the U.S. economy is clearly rebounding, it is too soon to begin to withdraw the Federal Reserve's massive support.

U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.

Julius Baer , bulking up in its home market, has won the auction to buy the Swiss private banking assets of Dutch financial services group ING for around $500 million, two sources with knowledge of the deal said.

A private equity manager who wanted to buy the Sun-Times Media Group said on Tuesday that his attempt to bid on the bankrupt newspaper publisher was blocked, and that he wants the court to reopen the sale process.

Soccer's global governing body FIFA, gaming software-maker Electronic Arts and Sony Corp's PlayStation announced the start of the FIFA Interactive World Cup 2010 (FIWC10) season on Tuesday.

The U.S. may be exiting its worst recession since the Great Depression but there is still a small minority of Americans who rate the national economy as being excellent or great, according to a new survey.

Bank of America said it will not raise rates or change terms on consumer credit card accounts ahead of reform legislation slated to go into effect early next year, according to a letter released by a lawmaker on Tuesday.