MARKETS / FINANCE

The biggest U.S. pension fund has sued the top three ratings agencies in a complaint linked to big losses linked to complex investments.

Oil rose above $60 a barrel on Wednesday, supported by data showing a fall in U.S. crude oil inventories and after strong company earnings lifted expectations for economic recovery.

Stocks rose sharply on Wednesday as Intel Corp's solid quarterly results and outlook reinforced hopes for an economic recovery and a rebound in technology spending.

Some of the biggest U.S. investors and two former top securities regulators warned that a tarnished Federal Reserve should not be put in charge of preventing systemic risk in the financial system, a central plank of the administration's response to the credit crisis.

Capital One Financial Corp's U.S. credit card defaults rose in June as unemployment increased and Americans struggled to pay their debts, the company said on Wednesday.

U.S. crude futures rose on Wednesday on industry inventory data showing crude supplies fell last week along with gasoline stocks and as positive earnings results fueled a global equities rally.

A U.S. judge refused on Tuesday to dismiss an insider-trading charge against former Bear Stearns hedge fund manager Ralph Cioffi, court documents showed.

The pre-emptive attack on the rating agencies has begun. As Zero Hedge has long suspected, once the next major leg down in the market occurs,populist anger will again have to be directed away from its true focal point- the intersection of Wall Street and DC.

Stocks rose more than 1 percent at the open on Wednesday as Intel Corp's solid quarterly results and outlook reinforced hopes for an economic recovery and a rebound in technology spending.

U.S. industrial output declined at a slower pace in June and a key regional U.S. factory survey posted its strongest reading in a year this month, suggesting the recession was loosening its grip.

U.S. stocks headed for a sharply higher open on Wednesday as Intel Corp's solid quarterly results and outlook reinforced hopes for an economic recovery and a rebound in technology spending.

U.S. consumer prices rose at a slightly faster-than-expected 0.7 percent pace in June, but the bulk of the increase was due to soaring gasoline prices and the core measure of inflation remained relatively tame, government data on Wednesday showed.

U.S. consumer prices rose at a slightly faster-than-expected 0.7 percent pace in June, but the bulk of the increase was due to soaring gasoline prices and the core measure of inflation remained relatively tame, government data on Wednesday showed.

Stock futures pointed to a higher open on Wall Street on Wednesday as Intel Corp's solid results and upbeat outlook reinforced hopes for an economic recovery and a rebound in technology spending.

Higher costs for oil and gasoline likely pushed U.S. consumer prices up in June by the most for any single month since oil prices peaked last summer, according to a poll of economists.

Stock futures rose on Wednesday as Intel Corp's solid results and upbeat outlook reinforced hopes for an economic recovery and a rebound in technology spending.

Stock index futures pointed to a higher opening for Wall Street on Wednesday, as investor confidence was boosted by results and an upbeat outlook statement from chipmaker Intel .

Global stocks rose to their highest level in nearly two weeks on Wednesday as blockbuster results from major firms such as tech bellwether Intel Corp underpinned appetite for riskier assets.

Calpers, the biggest U.S. public pension fund, has filed a suit in a California state court in connection with $1 billion in losses that it says were caused by inaccurate credit ratings from the three leading ratings agencies, The New York Times reported.

U.S. asset manager Franklin Resources Inc has dropped out of a consortium negotiating to buy American International Group Inc's asset management unit, a source familiar with the matter said on Tuesday.

The U.S. Treasury Department and Federal Reserve are considering giving CIT Group Inc a temporary government loan to give it breathing room to strengthen its balance sheet, a source familiar with regulators' thinking said on Tuesday.

Worldwide OLED first quarter revenue fell 8 percent, according to DisplaySearch on Tuesday but its AMOLED revenue was up to 17 percent in the quarter.

Microsoft is going to open its 'Windows Marketplace Business Center' for Developers on July 27, this year. The announcement was made in an ongoing Worldwide Partner Conference event in New Orleans.

MetLife Inc, the largest American life insurer, said on Tuesday that it plans to combine some U.S. businesses as part of a revamp it undertook to increase growth opportunities.

Yum Brands Inc , parent of the Taco Bell, Pizza Hut and KFC chains, cut its full-year forecast for sales on weakness in its two biggest markets, the United States and China, and its shares fell 3.9 percent.

Goldman Sachs Group Inc. posted record second quarter earnings as revenue from trading and stock underwriting delivered all time high results. Revenue at the New York-based bank jumped 46 percent to $13.8 billion compared to the same period last year. Net earnings grew 65 percent to $3.43 billion compared to a year ago.

CIT Group Inc and government officials remained locked in talks on Tuesday as the lender to thousands of small businesses pushed for government aid in its fight to survive.

U.S. stocks managed modest gains on Tuesday as better-than-expected corporate profits overshadowed concerns about weak consumer demand.

Goldman Sachs Group Inc said quarterly earnings surged 33 percent on blowout trading results, trouncing forecasts and putting the bank on pace for hefty bonuses that could draw unwanted scrutiny.