MARKETS / FINANCE

More than a dozen Italian banks, including top lenders UniCredit and Intesa Sanpaolo, tapped 116 billion euros ($143.52 billion) of new three-year loans offered by the European Central Bank, nearly a quarter of the total, three sources with direct knowledge of the matter told Reuters.

Stocks declined modestly on Wednesday as equities retreated from recent gains, while weak earnings from Oracle raised concerns about the health of the tech sector, pressuring the group and pushing the Nasdaq down more than 1 percent.

Stocks fell on Wednesday as weak earnings from Oracle raised concerns about the health of the tech sector ahead of the start of fourth-quarter earnings season in January.

Walgreen Co posted an unexpected drop in quarterly profit as the largest drugstore chain's margins were hurt in part by its contract dispute with pharmacy benefits manager Express Scripts Inc .

Daniel Mudd, the embattled former chief executive of mortgage financing company Fannie Mae, is taking a leave of absence from him current job as head of hedge fund Fortress Investment Group , the company said on Wednesday.

Home sales rose in November, adding to hints of recovery, but updated data showed the housing crash was much deeper than previously thought.

New York City's pension funds want three big Wall Street banks to impose tougher compensation-clawback rules for top executives.

U.S. commodity markets have shrunk almost 9 percent since MF Global's collapse as farmers, investors and traders close out positions, according to a Reuters analysis of data that suggests there may be lasting effects from the industry's most disruptive broker failure.

After breezing through the euro zone debt crisis for the past two years, Germany's economy could fall into recession as anxious businesses hold off on investment and exports wither.

The Toronto Stock Exchange is deferring consideration on whether to accept Crocodile Gold Corp.'s recently adopted poison pill plan so a securities commission can consider the matter.

Stocks fell on Wednesday as weak earnings from Oracle raised concerns about the health of the tech sector and on concerns that cut-rate loans from the European Central Bank will not filter down to help Europe's debt-stricken countries.

Walgreen Co posted a lower-than-expected quarterly profit on Wednesday as the largest U.S. drugstore chain's margins were hurt by lower reimbursement rates for prescriptions, fewer flu shots and its spat with pharmacy benefits manager Express Scripts Inc .

Financial advisers in the United States are seeing fewer benefits from their use of social media, a survey by Aite Group showed on Tuesday.

Electronic Arts invested more money and firepower into Star Wars: The Old Republic than it has on any game in its 30-year history. Starting today, the company will find out if the bet pays off.

Walgreen Co posted a lower quarterly profit as the largest U.S. drugstore chain's margins were hurt by lower reimbursement rates for the prescriptions it fills, fewer flu shots and its spat with pharmacy benefits manager Express Scripts Inc .

Sales of previously owned homes surged in November, but revisions to data for the last four years showed the housing recession was deeper than previously thought.

Activist hedge fund Starboard Value has taken a 4.5 percent stake in AOL Inc and requested a meeting with the Internet company's Chief Executive and board.

Stocks fell on Wednesday as hope faded that banks would use the European Central Bank's massive funding operation to buy regional sovereign debt and help mend the deep-rooted debt crisis.

KGHM, Europe's No.2 copper producer, and Abacus Mining will need to invest $795 million in their joint Canadian copper and gold project Afton-Ajax, according to a feasibility study cited by KGHM on Wednesday.

Hecla Mining Co. aims to resume production at its big Lucky Friday silver mine in Idaho by the end of February.

Stock index futures pointed to a lower open on Wednesday as enthusiasm waned after strong bank demand for the European Central Bank's record funding operation and fears over the debt crisis resurfaced.

Banks took a huge 489 billion euros at the European Central Bank's first ever offering of three-year funding on Wednesday, raising hope a credit crunch can be avoided and that the money may be used to buy Italian and Spanish bonds.

Research In Motion Ltd has turned down takeover overtures from Amazon.com Inc and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge of the situation.

Stock index futures rose Wednesday, putting the benchmark S&P 500 index on track to extend the prior session's big gains as banks borrowed more than anticipated at the European Central Bank's record cash injection aimed at easing the debt crisis.

KGHM, Europe's No. 2 copper miner, raised its 2011 net profit forecast by 16 percent on Wednesday thanks to the stronger dollar and higher silver prices and volumes.

Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.38 percent, Dow Jones futures up 0.62 percent and Nasdaq 100 futures up 0.61 percent at 4:10 a.m. EST.

Europe's banks borrowed nearly 490 billion euros from the European Central Bank at its first-ever offer of three-year loans on Wednesday, encouraging demand for the euro and stocks on hopes the funding will ease the two-year old debt crisis.

European stocks and the euro firmed on Wednesday, enjoying a brief surge after banks borrowed around $489 billion euros from the European Central Bank at its first-ever offer of three-year loans on hopes it will be a significant step toward easing the region's two-year old debt crisis.

Global stocks and commodities fell Wednesday as investors shrugged off heavy European Central Bank lending and eyed a troublesome U.S. earnings report.