MARKETS / FINANCE

Britain's economy has fallen into its second recession since the financial crisis after an shock contraction at the start of 2012, heaping pressure on Prime Minister David Cameron's government as it reels from a series of political missteps.

Caterpillar Inc reported a 29 percent rise in first-quarter profit on Wednesday and beat analyst expectations thanks to continued demand for replacement machinery in North America and growth in its mining business.

Caterpillar Inc reported a 29 percent rise in first-quarter profit on Wednesday and beat analyst expectations thanks to continued demand for replacement machinery in North America and growth in its mining business.

Stock index futures rose on Wednesday after forecast-beating results from Apple removed a weeks-old market overhang and lifted optimism in a corporate earnings season already outstripping expectations by a wide margin.

The Federal Reserve may appear slightly more upbeat on the economy on Wednesday, though investors should not mistake this cautious optimism for any desire to raise interest rates soon.

Stock index futures rose on Wednesday after forecast-beating results from Apple removed a weeks-old market overhang and lifted optimism in a corporate earnings season already outstripping expectations by a wide margin.

The Federal Reserve began a two-day meeting on Tuesday that will likely show the central bank is slightly more upbeat on the economy but in little hurry to raise borrowing costs.

Britain's economy is in its second recession since the financial crisis, data showed on Wednesday, heaping pressure on Prime Minister David Cameron's coalition government as it battles a series of political embarrassments.

The Dow and the S&P 500 rose on Tuesday after strong earnings and upbeat outlooks from big manufacturers like 3M Co , but Apple's slide ahead of its results drove the Nasdaq down.

European Central Bank President Mario Draghi gave no indication on Wednesday that the ECB was poised to provide more support for banks or governments but also said the time was not right to consider rolling back its crisis-fighting measures.

The euro hovered near a three-week high and global shares rose on Wednesday ahead of the U.S. Federal Reserve's policy meeting, due mainly to signs of good demand for euro zone sovereign debt before a German bond sale, and some strong corporate earnings.

German Chancellor Angela Merkel's cabinet passed a revised deal to tax secret deposits in Swiss bank accounts on Wednesday, betting that the opposition Social Democrats will drop their objections and back the accord in parliament.

European Central Bank President Mario Draghi gave no indication on Wednesday that the ECB was poised to provide more support for banks or governments but also said the time was not right to consider rolling back its crisis-fighting measures.

The doubling of the International Monetary Fund's firepower, an increase in Europe's bailout fund and liquidity injections should be enough to contain Europe's sovereign debt crisis, the head of the Organisation for Economic Cooperation and Development said on Wednesday.

A New York judge on Tuesday rejected an effort by American International Group Inc and other objectors to Bank of America Corp's proposed $8.5 billion mortgage bond settlement to convert the case to a proceeding that may have widened its scope.

American International Group Inc has sued the co-founder and former chief executive of its aircraft-leasing unit, Steven Udvar-Hazy, accusing him and other former employees of stealing several thousand electronic files containing trade secrets.

A recent acquisition spurt by Facebook Inc may add about a week to the social network's journey to public markets, a source with knowledge of the situation said on Tuesday.

Google's former CEO told jurors that he was confident that the Android smartphone platform was developed legally, and that top executives at Sun Microsystems did not object to the project now at the center of a high-stakes court battle.

A federal judge on Tuesday authorized the trustee liquidating MF Global Holdings Inc's brokerage unit to distribute as much as $685 million to customers whose accounts had been frozen when the futures brokerage went bankrupt.

Goldman Sachs Group Inc must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a New York state judge ruled, but she decided that the investment bank did not unjustly enrich itself.

Police in riot gear arrested two dozen people on Tuesday as protesters with a huge inflated rat sought to disrupt a Wells Fargo & Co annual shareholder meeting to express anger over foreclosures, executive compensation and corporate taxes.

Hedge fund manager Philip Falcone will face a united front when negotiating with key investors that own bank debt sold by LightSquared, the money-losing wireless telecom company controlled by his fund.

The Dow and the S&P 500 rose on Tuesday after strong earnings and upbeat outlooks from big manufacturers like 3M Co , but Apple's slide ahead of its results drove the Nasdaq down.

Over the past three decades, South Korea has catapulted itself from Third World-caliber poverty to becoming a technologically superior economic powerhouse.

Russian Prime Minister Vladimir Putin said on Tuesday that he will step down as the leader of United Russia, the nation's dominant political party, after he assumes the presidency in May.

Embattled Wal-Mart vice chairman Eduardo Castro-Wright has resigned from the board of MetLife, the largest life insurer in the United States, the company said on Tuesday.

The Dow and the S&P 500 rose on Tuesday after strong earnings from big manufacturers and AT&T, but the Nasdaq fell with Apple and other large-cap tech companies.

Assuming the $77 billion initial public offering by Facebook is approved, investors will likely clamor for shares just as in earlier web frenzies for Netscape Communications, Yahoo (Nasdaq: YHOO) and Google (Nasdaq: GOOG).. But dangers loom.

Newcrest Mining, the world's No.3 gold miner, on Tuesday cut its production forecast for this year, saying its major projects had struggled to reach output targets.