MARKETS / FINANCE

The U.S. economy will recover slowly and the unemployment rate will take some time to come down, Atlanta Federal Reserve Bank President Dennis Lockhart said on Wednesday.

General Growth Properties Inc said on Wednesday it was ready to give suitors information, as it squared against creditors at a hearing over how much time it should be allowed to be the only party that can file a reorganization plan.

Economic activity strengthened modestly across most of the 12 Federal Reserve districts during February and likely would have done better if not for heavy snowstorms that battered many areas.

U.S. stocks rose on Wednesday after data on U.S. private employment and the vast services sector reassured investors nervous about the pace of economic recovery.

A former Atheros Communications Inc executive pleaded guilty on Wednesday to conspiracy and fraud charges in the Galleon hedge fund insider trading case.

A revival of consumer cost concerns did not boost results enough for the biggest U.S. warehouse clubs, as margin constraints weighed on Costco Wholesale Corp , while BJ's Wholesale Club Inc faced pricing pressure from rival supermarket chains.

U.S. private employers eliminated fewer jobs last month, suggesting the job market may be on the mend, while the U.S. services sector grew at its fastest pace since the recession began.

U.S. private employers eliminated fewer jobs last month, suggesting the job market may be on the mend, while the U.S. services sector grew at its fastest pace in more than two years.

A new consumer protection agency is an urgent need as the United States seeks better financial regulation but putting it in the Federal Reserve is unacceptable, George Soros, chairman of Soros Fund Management, said on Wednesday.

Greece targeted civil servants, the rich and the church on Wednesday in a sweeping new 4.8 billion euro ($6.5 billion) austerity program designed to secure European help to tackle its crippling debt burden.

The U.S. stock market rose on Wednesday after positive developments from Greece and encouraging U.S. economic data.

Stocks rose on Wednesday after data on the labor market and the U.S. services sector encouraged investors who had been uncertain about the pace of economic recovery.

U.S. employers shed 20,000 private-sector jobs in February according to a report by ADP on Wednesday, fewer than the 60,000 jobs lost in January and inline with analysts' expectations.

Low U.S. interest rates were not the sole cause of the housing bubble, a top Federal Reserve official said on Wednesday, adding that ultra-low interest rates are appropriate now.

U.S. private employers shed 20,000 jobs in February, fewer than the 60,000 jobs lost in January, a report by a private employment service said on Wednesday.

The U.S. services sector grew in February at its fastest pace in more than two years, according to an industry report released on Wednesday.

Jobs shed by U.S. private employers in February dropped from the prior month, while U.S. firms' planned layoffs fell to the lowest since 2006, suggesting the job market may be starting to recover.

Wait and watch, that is the game bullion market is playing now. With India's new tax on gold imports hitting the demand in global market, investors and importers are now waiting and observing the movements for a clear hint. However, gold scrap sales have picked up slowly in Southeast Asia but witnessed no major movements.

The U.S. stock market continues its rally on Wednesday, boosted by encouraging U.S. economic data and a surging basic materials sector.

U.S. stocks rose on Wednesday after separate reports showed private employers cut fewer jobs in February and the U.S. services sector grew at its fastest pace in more than two years.

Greece targeted civil servants, the rich and the church in a sweeping new austerity program it hopes Europe will reward by helping tackle a crippling debt burden.

Opera Software said on Wednesday it had seen a surge in downloads of its browser after Microsoft started making it easier for Europeans to choose smaller rivals' browsers.

Banks that are seen as too large to fail should be broken up in order to make the financial system more stable, Dallas Federal Reserve President Richard Fisher said on Wednesday.

U.S. stocks edged higher at the open on Wednesday after a report showed private employers cut fewer jobs in February, adding to optimism ahead of a critical employment report later in the week.

The number of planned layoffs at U.S. firms fell in February to the lowest level since 2006, and employers appear to have shifted away from downsizing even though hiring may be a while off, a report on Wednesday showed.

U.S. stock index futures pointed to a higher open on Wednesday as a report showed private employers cut fewer jobs in February, adding to optimism ahead of a critical employment report later in the week.

The euro rose against the U.S. dollar on Wednesday after the Greek government endorsed a 4.8 billion euro austerity package, boosting hopes the heavily indebted country would get help from the European Union. The euro gained roughly half a U.S. cent after a government source told Reuters the Greek cabinet decided on the plan, which included a rise in value added tax to 21 percent and a cut in public sector salary bonuses by 30 percent.

The euro rose against the dollar and Greek borrowing costs fell to their lowest level since mid-February as Greece's cabinet approved new steps to fight a budget deficit, seen as key to secure EU fiscal support. European shares, however, were flat as traders said most of the news had been priced in and ahead of U.S. jobs data, though world stocks gained, on track to gain for the fourth consecutive day and near their five-week high.

U.S. stock index futures were little changed on Wednesday as investors awaited data on the labor market for clues ahead of a critical employment report and Greece took steps to meet fiscal targets.