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Mortgage servicers targeted for poor performance

The Obama administration said on Wednesday it will keep the pressure on two big banks to help ease the foreclosure crisis, withholding payments to them under a foreclosure relief program.

Monti popularity dips over austerity, unions call strikes

Italy's new Prime Minister Mario Monti, trying to push through a tough austerity package he says is vital for the country's financial salvation, faced two calls for national strikes and saw a dip in his public support on Wednesday.

Gold Prices Rise as Investors Eye Eurozone

Gold prices rose Wednesday as purchases by cost-conscious investors offset worries about the Eurozone debt crisis and a rising dollar.

U.S. Downplays Suggestions of Containing China's Rise in Asia-Pacific

Taking A Cue From Occupy Wall Street, Democrats Make Populist Push

Occupy Wall Street's reverberations have finally crossed into the political realm, as prominent Democrats at all levels of government -- from the president to Congress to state houses -- have begun echoing the movement's lambasting of the under-representation of the poor and the unemployed and capitalism's ills.

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Europe's Markets Close Lower Wednesday on EU Summit Concerns

European shares slipped back slightly in cautious trade on Wednesday, ahead of a EU summit this week, amid uncertainty about the chances a comprehensive deal would be reached to help end the region's debt crisis.

Citi begins London investment bank layoffs

Citigroup began a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide.

Paris, Berlin seek action on company, financial tax

France and Germany want a new EU framework to speed up progress towards a common corporate tax base and a financial transaction tax as well as convergence of financial regulation and labor market policies, a Franco-German letter sent on Wednesday to European Council President Herman Van Rompuy showed.

Exclusive: D.Boerse, NYSE mull spin-off on EU demands

Deutsche Boerse AG and NYSE Euronext could spin off parts of their derivatives arms to create a third-party competitor as a way to allay anti-trust concerns about their $9 billion merger, two sources familiar with the Boerse's thinking said.

Conga Mine Opponent Held after Congressional Meeting

Foes of Newmont Mining's $4.8 billion Conga mine project in Peru said on Wednesday they were practically kidnapped by counterterrorism police in a crackdown on left-wing activists by President Ollanta Humala.

Mortgage applications jumped last week: MBA

Applications for U.S. home mortgages jumped last week, recouping the previous week's steep decline as interest rates continued to fall, an industry group said on Wednesday.

Wall Street drops on worries ahead of EU summit

Stocks fell on Wednesday with investors on edge ahead of a summit to hammer out a plan to combat the euro zone debt crisis and finding few reasons to continue buying after two days of gains.

Banks seek to avoid Volcker rule fire sale

U.S. banks want regulators to give them more time to liquidate investments in certain private equity funds under the Volcker rule, arguing that without more leeway they will have to hold fire sales.

Stock futures point to weak open ahead of Europe summit

Stocks index futures pointed to slight losses at the open on Wednesday as investors found little reason to keep buying after two gains of gains and ahead of a European summit on the region's debt crisis.

Great Basin Gold Credit Line Opens Dec. 15

Great Basin Gold Ltd. expects to be able to draw on a new $150 million credit line by Dec. 15, the Vancouver-based mining company said Wednesday.

An employee picks up a gold bar at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna

Gold Eyes EU Summit, Could Approach $2000

The European Union (EU) summit this Friday will consume market attention, as it will discuss steps to resolve the Eurozone debt crisis. Price sensitivity to headlines will persist, if not intensify, and make for jerky market moves.

Palladium Prices Extend Two-Month Rally

Palladium prices extended a two-month rally Wednesday as rising U.S. car and truck sales signaled increased demand for the white metal.

Stock futures flat on caution over EU summit

Stocks index futures were little changed on Wednesday after two days of gains as investors waited to see if European officials can craft a plan to combat the region's debt crisis at a summit this week.

Stock futures rise on EU summit optimism

Stock index futures rose on Wednesday as optimism continued to grow that European Union leaders would craft bold measures to combat the region's debt crisis at a summit this week.

Shanghai aims to expand financing to tech firms

The Shanghai municipal government unveiled a plan on Wednesday that will create incentives for foreign private equity and venture capital funds to invest in early-stage technology companies in the city.

India Gold Extends Gains for Another Session

India gold extended gains for another session on Wednesday to meet the highest level in about a week, stoked by firm overseas markets, analysts said.

Stock index futures signal gains for equities

Stock index futures pointed to a higher open for equities on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and Nasdaq 100 up 0.6-0.8 percent.

Cautious optimism on EU deal lifts world stocks

Growing optimism that euro zone leaders are on track to produce a confidence-boosting package of measures to solve the debt crisis at Friday's summit lifted risk appetite on Wednesday, with the euro and global equity markets posting gains.

J.C. Penney to buy stake in Martha Stewart Living: report

U.S. department store chain J.C. Penney Co Inc is to buy a 16.6 percent stake in Martha Stewart Living Omnimedia Inc for $38.5 million, the New York Times said, citing people briefed on the matter.

Analysis: Foreign insurers miss the China party

Ten years ago, foreign insurers were lining up to celebrate China's entry into the World Trade Organization, eager to tap what was certain to become the world's next big insurance frontier.

China growth to ease as export outlook darkens

China's annual rate of export growth slowed in November versus October, Vice Commerce Minister Chong Quan said on Wednesday, confirming market expectations that deteriorating external conditions are dragging on the world's No. 2 economy.

China growth calls ease as export outlook darkens

China's annual rate of export growth slowed in November versus October, vice commerce minister Chong Quan told reporters on Wednesday, confirming market expectations that deteriorating external conditions are dragging on the world's No. 2 economy.

Global stocks and euro rise before summit, ECB decision

Asian shares and the euro gained on Wednesday on hopes that the threat of mass credit rating downgrades will pressure European leaders to come up with a convincing framework for resolving the euro zone debt crisis at a crucial summit later this week.

China export outlook darkens, officials say

China's annual rate of export growth slowed in November versus October, vice commerce minister Chong Quan told reporters on Wednesday after an official media briefing.

Ford begins search for post-Mulally CEO: source

Ford Motor Co has begun considering successors for Alan Mulally, the chief executive credited with turning around the No. 2 U.S. automaker over the past five years, according to a person with knowledge of the matter.

Boeing sees no aircraft financing gap in 2012

Airlines will avert a shortfall in aircraft financing next year by relying increasingly on capital markets and alternative sources as pressure grows on European banks, Boeing Co forecast.

S&P says Franco-German fiscal plan promising

A plan by France and Germany to increase fiscal integration in Europe is promising and could help avoid a mass debt downgrade of euro zone countries by Standard & Poor's, a director with the ratings agency said on Tuesday.

Bernanke to Hill: Flawed reporting on Fed loans

Federal Reserve Chairman Ben Bernanke on Tuesday pushed back against reports that the Fed had lent banks $7.77 trillion or more during the financial crisis, saying they contained egregious errors and mistakes.

Broadcom CEO says bar is low for European demand

Chipmaker Broadcom's chief executive downplayed the risk to tech sales from Europe's debt crisis, saying expectations have already been lowered and that demand would stay strong in the long term.