MARKETS / FINANCE

The Bank of Canada on Wednesday emphasized the temporary nature of February's high inflation, a figure that has raised market expectations of an interest rate increase. Paul Jenkins, senior deputy governor at the bank, warned against reading too much into a single number and said the central bank must try to understand the real forces pushing prices higher.

The U.S. economy is still in a tough spot but is gradually regaining its balance after a series of policy mistakes that made the country weaker and less secure, Treasury Secretary Timothy Geithner said on Wednesday. We are coming back, and we are coming back faster and stronger than most people predicted -- faster and stronger than Europe and Japan, Geithner said after meeting with steel executives and union leaders here.

The director of economic policy at Brazil's central bank stepped down on Wednesday, kicking off a shuffle of the bank's board that could also include its president, Henrique Meirelles. Mario Mesquita, one of the strongest advocates of the central bank's inflation-targeting regime, left for personal reasons, the bank said in a statement. His departure had been rumored for months and was widely expected.

The New Zealand dollar is currently overvalued by 10 to 25 percent, the International Monetary Fund said on Wednesday. In a statement at the end of consultations with authorities, the IMF said the overvaluation of the currency may be temporary and the exchange rate may depreciate as the interest rate differential narrows with eventual tightening by the U.S. Federal Reserve.

PITTSBURGH, March 31 (Reuters) - U.S. Treasury Secretary Timothy Geithner expressed confidence on Wednesday that China will decide it is in its interest to make its yuan currency more flexible, but did not say when that might happen.

Morgan Stanley Smith Barney is suing a former St. Louis-based brokerage manager after he defected to rival Wells Fargo Advisors last Friday.

Dow Chemical Co Chief Executive Andrew Liveris' total compensation jumped 16 percent for 2009, when the chemical maker bought rival Rohm & Haas and its stock nearly doubled, according to filings with the U.S. Securities and Exchange Commission.

The Aussie Dollar was shaken yesterday after a disappointing set of retail sales figures and building approvals.

Stocks fell on Wednesday as a report showing a surprising drop in private- sector employment stoked concerns about the health of the labor market two days before the government's key jobs data.

Private employers unexpectedly shed jobs in March, dampening hopes about the strength of the recovery two days before the more closely watched government payrolls report.

Former Federal Reserve Chairman Alan Greenspan and ex-Citigroup Chief Executive Chuck Prince will appear next month before a U.S. panel investigating the roots of the financial crisis that brought global markets to their knees in 2008.

U.S. stocks fell on Wednesday as a report showing a surprising drop in private- sector employment stoked concerns about the health of the labor market two days before the government's key jobs data.

U.S. stocks fell on Wednesday as a report showing a surprising drop in private- sector employment stoked concerns about the health of the labor market two days before the government's key payrolls data.

Charles Schwab Corp violated federal law when it failed to get approval from shareholders of its YieldPlus mutual fund before putting roughly half the fund's assets into uninsured mortgage-backed securities, a federal judge ruled.

Nationalized Anglo Irish Bank posted a 12.7 billion euro ($17 billion) loss on Wednesday, the largest in Irish corporate history, as it got a second government cash injection and may need more.

Private employers unexpectedly shed jobs in March, dampening hopes about the strength of the recovery two days before the government employment report.

Toyota Motor Corp brand sales chief Bob Carter hinted on Wednesday that the automaker would extend sales incentives beyond April 5, but he did not offer specifics.

Stocks barely budged on Wednesday following reports that stoked unease about the health of the labor market and regional manufacturing, offsetting the energy sector's strength.

The previous edition of This Week In Petroleum reported negative earnings for major refiners during the fourth quarter of 2009, reflecting declining petroleum product demand and a weak economy over the past 18 months. One consequence of the sharp decline in oil demand has been the development of significant excess refining capacity and the shutdown or idling of several U.S. refineries. Two East Coast refineries have been closed in recent months; and several smaller plants have been idled, but co...

Rite Aid Corp posted a worse-than-expected quarterly loss and forecast a wider fiscal year loss than Wall Street was anticipating, sending its shares down 7.1 percent.

U.S. Department of Energy announced that it will work with organizations in China on joint research initiatives over the next five years. A total of $37.5 million will be invested in the joint research, said the department, adding that around $75 million will be used for the improvement of energy efficiency, clean coal technologies, carbon sequestration and green vehicles.

The area under wheat cultivation is expected to shrink in 2010-11, in the Northern hemisphere that includes North America, about two-thirds of Africa, all of Asia and Europe due to the falling global prices for the grain.

Gold is driving the gems and jewellery export orders from India. According to the Investment Commission of India, exports are likely to grow to US$ 25 billion by 2012. Following are some of the India government steps to boost gold trade in the country.

U.S. private employers unexpectedly shed jobs in March, dampening hopes about the strength of the recovery two days before the government employment report.

U.S. stocks kept close to the break-even point on Wednesday after weak reports on the labor market and regional manufacturing were offset by strength in the energy sector.

(Corrects paragraph 17 to read February factory orders)

The yen continues to weaken against its major counterparts, nearing its lowest levels against the US dollar in 2010. The 2010-high for the USD/JPY was made on January 8, when the pair reached 93.76. In trading today, the pair reached a high of 93.63, but has since fallen to the 93.40 level.

U.S. stocks fell on Wednesday as weaker jobs and regional manufacturing data dented hopes of improvements in the economy, and a rating downgrade of five Greek banks heightened worries about the euro zone economies.

U.S. stocks fell on Wednesday as weaker jobs and regional manufacturing data dented hopes of improvements in the economy, and a rating downgrade of five Greek banks heightened worries about the euro zone economies.