MARKETS / FINANCE

Ten years ago today, before the dot-com bubble burst, the Nasdaq composite index hit a record 5,132.52 points -- a peak that the technology-heavy market shows no sign of scaling again any time soon.

The S&P 500 rose on Wednesday as investors snapped up shares of bailed-out financial companies on hopes the sector may be poised for a recovery as the U.S. economy improves, while a drop in oil producer Chevron's stock pushed the Dow slightly lower.

Boeing Co is poised to win a sole-source U.S. contract for aerial tankers that could provide a much-needed boost for the company, but the impact is less certain on Northrop Grumman Corp , which dropped out of the race.

Shares in several big financial companies bailed out by the U.S. government rose on Wednesday on what analysts said were momentum bets and short-covering on hopes the entities were on the road to recovery.

Telecom firms risk losing a key revenue stream to rivals like Google by leaving valuable customer client data largely untapped and hesitating to invest extra cash to leverage customer information.

French Prime Minister Francois Fillon criticized the United States' handling of a multi-billion-dollar aerial tanker competition that saw Northrop Grumman and European partner EADS drop out of the race.

U.S. wholesale inventories fell modestly in January, while sales rose to their highest level since October 2008, suggesting that inventories would continue to support economic growth in the first quarter.

U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.

U.S. wholesale inventories unexpectedly fell in January, while sales rose much faster than expected to their highest level since October 2008, a government report showed on Wednesday.

Fertilizer producer Terra Industries Inc told proposed merger partner Yara International to improve its takeover bid, saying an offer from CF Industries Holdings Inc is superior.

Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt-strapped neighbor, sources close to the discussions said.

Munich Re sees star investor Warren Buffett's stake in the reinsurer as evidence that he backs its long-term strategy aimed at creating stability, Munich Re's chief executive said on Wednesday.

Shares in Citigroup Inc , one of the big financial companies bailed out by the U.S. government, rose more than 4 percent on Wednesday, while another, American International Group Inc , jumped 10 percent.

The stock market edged higher on Wednesday as stocks in the transportation and financial sectors made significant gains.

In September 2008, as Lehman Brothers was breaking into a million pieces, a young investment bank was pushing up through the rubble.

Shareholders may have to wait for months to retrieve capital after U.S. regulators told banks not to increase dividends or buy back shares amid political and economic uncertainty surrounding the financial industry, the Financial Times reported on Wednesday.

U.S. stocks drifted higher on Wednesday following several merger and acquisition deals, overshadowing an unexpected drop in January wholesale inventories.

After a growth spurt at the end of 2009, the U.S. economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed.

A dark corner of corporate America is being thrust into the harsh glare of disclosure.

After a growth spurt at the end of 2009, the U.S. economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed.

Ministry of Power and Tehri Hydro Development Corporation Ltd - THDC India Ltd has signed a memorandum of understanding (MoU) defining the performance guarantee parameters for the FY 2010-11. An energy generation target of 3000 MU (Million Units) has been set for the year 2010-11 for the company. THDC India Limited shall expedite the works of Koteshwar H.E. Project (400 MW), Tehri Pumped Storage Plant PSP (1000 MW) and Vishnugad Pipalkoti Project (444MW).

U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.

World's largest rice exporter, Thailand's exports of rice and other foods are expected to rise this year by five to ten percent, according to country's Commerce Ministry. The ministry, in a statement said food exports in particular would recover to growth of as much as 10% after dropping by 7.37% in 2009 to $19.56 billion, mainly because of the global recession.

A leading mutual fund in India has announced the launch of a unique gold savings fund which the company says will boost gold investment in exchanged traded funds (ETFs) the country. Quantum Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Quantum Gold Savings Fund, an open ended fund of fund scheme. The new fund offer (NFO) price for the scheme will be Rs 10 per unit.

The outlook for precious metals remain positive over the medium term and bearish over the long term.The sharp rise in gold prices over prior months, set against the prospects for economic recovery over the coming quarters, have eroded gold's attractiveness for investors, pushing capital towards riskier assets such as equities. Meanwhile, unwinding of government stimulus measures and monetary easing have dulled gold's lustre as a hedge.

Barclays is on the lookout to buy a retail bank in the United States, according to reports, to build on its successful investment bank build-up there and create a buffer against regulatory reform.

The U.S. stock market is poised for a slightly lower opening after disappointing data from Germany and the U.K.

U.S. stock index futures pointed to a flat open on Wednesday as investors awaited January wholesale sales and inventory data and digested a slew of new corporate deals.

State-owned Northern Rock shrank its losses in 2009, helped by a lower bad debt charge in the second half as house prices stabilized, but arrears rose and the lender warned loan impairments would stay high in 2010.