MARKETS / FINANCE

Italy's borrowing costs fell from recent record highs at a bond auction on Thursday but cautious investors still demanded a near 7 percent yield to buy 10-year debt, a level seen unsustainable over time for the euro zone's third-largest economy.

Gold fell to a three-month low on Thursday as prices were weighed down by a firm dollar, while investors remained cautious ahead of an important Italian bond auction later in the day.

When Ind-Barath Power Infra Ltd dropped plans for a $200 million IPO earlier this year, it not only thwarted the fundraising plans of its controlling shareholder, but blocked an exit route for a clutch of private equity investors.

Gold prices plunged 1.7 percent Thursday on a strengthening dollar, which was rising ahead of a crucial auction of Italian bonds and fresh worries about Eurozone banks.

When Ind-Barath Power Infra Ltd dropped plans for a $200 million IPO earlier this year, it not only thwarted the fundraising plans of its controlling shareholder, but blocked an exit route for a clutch of private equity investors.

Italian bond yields fell from recent record highs at auction on Thursday but cautious investors still demanded a near 7 percent yield to buy 10-year paper, a level seen unsustainable over time for the euro zone third-largest economy.

Italian bond yields are expected to fall from recent record highs in an auction on Thursday in a sign the European Central Bank has managed to ease market pressure, at least for now, with its big injection of longer-term funds earlier this month.

Asian stocks slipped on Thursday on weakness in the U.S. and European share markets and caution ahead of an Italian debt sale, though year-end window dressing of portfolios by some traders helped trim losses.

Alibaba Group has hired a Washington lobbying firm in a sign that the Chinese e-commerce company would be willing to make a bid for all of Yahoo Inc in the event that talks to unwind their Asian partnership fail.

Gold wallowed near a three-month low Thursday, remaining under pressure due to a firm dollar, while investors fretted over an important Italian bond auction later in the day.

U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.

Allen Stanford, accused of running a $7.2 billion Ponzi scheme, on Wednesday lost his bid for a three-month delay in his criminal fraud trial, clearing the way for jury selection to begin on January 23.

U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone's financial health.

The United States Mint said on Wednesday it has enough American Eagle gold and silver bullion coins to meet demand and does not expect to allocate them in early 2012.

The euro weakened about 1 percent against the dollar and the yen on Wednesday, one day before an important auction of long-dated Italian debt, while U.S. stocks slid more than 1 percent on concerns about the economy in early 2012.

While the Internet poker world salivates at the prospect of its business coming back to life thanks to an Obama administration ruling, a future president could reverse that decision and send the industry back to drawing board if it is not codified into law.

While the Internet poker world salivates at the prospect of its business coming back to life thanks to an Obama administration ruling, a future president could reverse that decision and send the industry back to drawing board if it is not codified into law.

U.S. stocks fell 1 percent on Wednesday as renewed concerns about the euro zones prompted investors to sell equities after last week's hefty year-end rally, wiping out the S&P 500's gains for the year.

U.S. stocks fell 1 percent on Wednesday as renewed concerns about the euro zones prompted investors to sell equities after last week's hefty year-end rally, wiping out the S&P 500's gains for the year.

The euro fell to its lowest level against the dollar in nearly a year on Wednesday, one day before an important auction of long-dated Italian debt, while U.S. stocks slid about 1 percent on concerns about the economy in early 2012.

Gold fell 2 percent to a three-month low on Wednesday, hit by a dollar rally against the euro, a technical sell-off and losses in U.S. equity and commodity markets.

The euro hit a fresh 11-month low against the dollar on Wednesday, one day before an important auction of long-dated Italian debt, while U.S. stocks fell about 1 percent on concerns about the economy in early 2012.

Italy's short-term debt costs halved at auction Wednesday as a new austerity package and an injection of cheap long-term money from the European Central Bank won Rome some respite in thin year-end markets.

Gold fell more than 1 percent in choppy trade on Wednesday, on track for its biggest one-day decline in two weeks, as a stronger dollar and risk-averse selling across the board also sent equities lower.

Pressure built on an Indonesian firm on Wednesday to resolve a local dispute with workers at a Freeport McMoran Copper & Gold Inc. mine that has prompted the union to halt a return to work after a three-month strike.

New Guinea Gold Corp. said it had to temporarily halt operations at a project in Papua New Guinea after representatives of landowner associations occupied the mine site.

The consensus among investment bankers and many traders is that gold prices will continue to climb in 2012.

Stocks fell on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year as investors shifted focus to what is expected to be a difficult start to 2012.

Investors didn’t get rich owning generalized technology stocks but they fared well with some of the traditional winners with good management and proven technology.