MARKETS / FINANCE

The euro sank to a 10-month low against the dollar and a lifetime trough versus the Swiss franc on Wednesday as speculation Greece may have a difficult time securing debt aid highlighted instability in the euro zone.

JPMorgan Chase is closing in on a deal with the Federal Deposit Insurance Corp that could result in a tax refund of about $1.4 billion for the bank, the Wall Street Journal reported, citing people familiar with the talks.

The Organisation for Economic Cooperation and Development is considering coming up with a code of conduct for banks on how they help clients with taxes, a senior official said on Wednesday.

U.S. auto finance company GMAC Financial Services may sell its factoring business unit to Wells Fargo & Co , Bloomberg said, citing two people with direct knowledge of the matter.

Settlements of U.S. class-action securities lawsuits rose 39 percent in 2009, and the amounts could rise further as cases stemming from the financial crisis work their way through the courts.

The euro plumbed record lows on Wednesday as investors remained skeptical about a solution for Greece's fiscal woes, while Asian stocks tracked Wall Street's rally overnight to push toward two-month highs.

Skype's popular telephony application will be available on nine phone models sold by Verizon Wireless starting on Thursday.

Wynn Macau on Wednesday posted a 77.6 percent jump in second-half earnings, as more Chinese gamblers placed their bets in the Macau operations of Las Vegas casino operator Wynn Resorts , thanks to soaring economic growth.

One of the biggest insider trading cases to hit London in years cast a shadow on Tuesday on European banks Deutsche Bank AG and BNP Paribas SA , as well as U.S. hedge fund Moore Capital.

The moribund Manhattan office market regained a pulse in the first quarter, after a year that saw only eight properties sold for more than $30 million.

The Aussie dollar continued to pull back in early offshore trade weighed down by persistent selling in EUR/USD to eventually find a bottom around 0.9135 against the Greenback.

The United States on Tuesday said Google's action to shut its mainland Chinese-language portal was a business decision by the company that did not involve the U.S. government.

Treasury Secretary Timothy Geithner on Tuesday launched what could be a years-long process of overhauling the government's role in helping Americans buy homes, a first step toward rebuilding the housing finance system at the heart of the financial crisis.

The Obama administration's pay czar on Tuesday clamped down on 2010 pay at five U.S. firms that still depend on a government lifeline, but boasted that his burdensome restrictions are not sending talented workers fleeing for the exits.

Stocks rallied on Tuesday, led by the tech, industrial and materials sectors, driving the Dow and the S&P 500 to 18-month highs.

Sales of previously owned homes fell for a third straight month in February and the supply of unsold houses on the market surged, showing the housing market was struggling to find its feet.

Stocks rallied on Tuesday, led by the tech, industrial and materials sectors, driving the Dow and the S&P 500 to 18-month highs.

Better regulation is needed to dissuade financial market players from taking excessive risks after the too big to fail problem undermined discipline, a senior Federal Reserve official said on Tuesday.

Germany signaled for the first time on Tuesday that it may accept European financial aid for Greece as a last resort, but only if the IMF is involved and euro zone partners accept tougher budget discipline rules.

U.S. stocks advanced on Tuesday on gains in the industrial and technology sectors and after U.S. existing homes sales fell less than expected in February.

Europe's highest court ruled Google Inc did not infringe trademark law by selling keywords to trigger ads after Louis Vuitton and others said the practice undermined their brands.

KB Home posted a wider-than-expected quarterly loss on Tuesday as prices and demand for its houses sagged and expenses climbed.

U.S. stocks advanced on Tuesday, as sales of previously owned U.S. homes fell less than expected in February, while the industrial and technology sectors underpinned the market.

Stocks rose on Tuesday, as sales of previously owned U.S. homes fell less than expected in February, while the industrial and technology sectors buoyed the market.

Stocks were modestly higher on Tuesday after data showed existing home sales declined less than expected in February, while healthcare stocks gave back some gains from the previous session.

The dollar edged higher versus the Japanese yen on Tuesday after a report showed sales of previously owned U.S. homes fell less than expected in February.

World's second largest oil consumer, China imported 18.51 million tons of crude oil in February this year, according to General Administration of Customs of China. In a statement issued here, GAC said this was equal to 4.8 million barrels per day and is up 59.6 percent year on year.

Former heads of Sprint Nextel Corp and RadioShack Corp have launched a company aimed at refurbishing or recycling the estimated 65,000 metric tons of old cellphones U.S. consumers ditch every year and named Sprint as its first customer.

The prices of sugar and pulses in Indian markets for the last week were seen declined while the prices of other commodities remained steady, according to a data collected by the Department of Consumer Affairs. Sugar prices have declined at 12 centres including Delhi, Shimla, Raipur and Patna, said the data. Gram dal prices have remained steady at all the reporting centers and declined at Shimla and increased at only Thiruvananthapuram.