MARKETS / FINANCE

The central banks of the United States, euro zone, Japan, Canada, Britain and Switzerland announced on Wednesday coordinated global action to provide liquidity to the financial system, lowering the price on existing dollar swaps.

Private sector job growth accelerated in November as employers created the most jobs in nearly a year, prompting some economists to raise their forecasts for Friday's more comprehensive government labor report.

The pace of job growth in the private sector accelerated in November, with U.S. employers adding 206,000 jobs, a report by a payrolls processor showed on Wednesday.

Billionaire philanthropist and investor George Soros is seen investing at least $50 million to subscribe for shares in the initial public offering of Chow Tai Fook Jewellery Group Ltd, Ming Pao Daily News reported on Wednesday citing sources close to the deal.

Newmont Mining has temporarily suspended work on its $4.8 billion Conga gold project to calm violent protests and restart talks with the local community, the company's Peru chief said late onTuesday.

A Chinese tourism company listed in the United States wants investors to pour their money down a dark hole. Literally.

Morgan Stanley said it prefers exposure to gold, silver and livestock in the coming year, as such commodities perform well in a global economic slowdown.

Severstal, Russia's biggest steelmaker, is set to spin off its Nord Gold unit and could list the standalone business in London, less than a year after being forced to pull a planned $1.5 billion public offering.

China's central bank cut reserve requirements for commercial lenders on Wednesday for the first time in three years, a policy shift to ease credit strains and shore up an economy running at its weakest pace since 2009.

Wells Fargo Securities said there are still many signs that California's labor market remains deeply ill, despite the better job creation performance this year.

Japanese authorities may take weeks to make any arrests over the accounting scandal at Olympus Corp, though initial findings by an investigative panel of experts are due to be released in days, lawyers said.

Precious metals prices jumped Wednesday, with palladium surging nearly five percent, after the world's top central banks announced a coordinated rescue of the Eurozone's rapidly deteriorating finances.

Banks face a double hit to costs and revenues from a spate of credit rating downgrades, another burden for a sector already struggling because of the European Union's failure to deal decisively with its financial crisis.

Public sector unions object to having their members work longer to earn their pensions, while paying more into the programs themselves.

LONDON - U.S. and British institutional investors walked away from euro zone bonds during November as fears for the future of the currency bloc grew, Reuters asset allocation polls showed on Wednesday.

Stocks were set to gain more than 2 percent at the open on Wednesday as a coordinated action by major central banks to provide liquidity to the global financial system boosted investors' appetite for risky assets.

China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.

Stock index futures soared on Wednesday as investors welcomed a coordinated action by major central banks to provide liquidity to the global financial system.

China's central bank cut the reserve requirement ratio for its banks on Wednesday for the first time in nearly three years to ease credit strains and shore up activity in the world's second-largest economy.

Dutch cooperative bank Rabobank lost its cherished triple-A rating from Standard & Poor's as the global banking crisis finally caught up with the only bank still holding the top rating.

Stock index futures rose on Wednesday after China unexpectedly cut its banks' reserve requirements in hopes of boosting an economy running at its weakest pace since 2009.

The world's top four audit firms will have to split up and rename themselves under a draft European Union law to crack down on conflicts of interest and shortcomings highlighted by the financial crisis.

China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.

Europe faces a crucial 10 days to save the euro zone after agreeing to ramp up the firepower of its bailout fund but acknowledging it may have to turn to the International Monetary Fund for more help to avert financial disaster.

Europe's debt crisis has significantly worsened, threatening global markets, so it is essential to stabilise the region's bond markets, European Central Bank governing council member Christian Noyer said on Wednesday.

India gold futures rose by more than half a percent on Wednesday to hit their highest level in two weeks on firm global leads fanned by a weaker rupee at home.

There is no quick fix to Europe's debt woes that threaten to escalate into a more widespread credit crunch, Bank of Japan Deputy Governor Kiyohiko Nishimura warned on Wednesday, voicing policymakers' growing concern about the deepening damage from the crisis.

Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.