MARKETS / FINANCE

The Aussie dollar collapsed in early European exchange following the announcement from the PBOC to lift the reserve ratio required by banks by 0.5%, a move aimed at limiting asset bubbles which will also have the effect of slowing economic growth in China.

Japan will start discussing tax reform, including consumption tax, in March, Finance Minister Naoto Kan said on Sunday, in a clear sign ever that it will consider a rise in sales tax to deal with a yawning fiscal gap.

Billionaire activist investor Nelson Peltz disclosed that the value of stocks held by his firm Trian Partners fell about 18 percent in the fourth quarter as the company sold stakes in several holdings.

Eurogroup Chairman Jean-Claude Juncker warned on Saturday against a further drifting apart of euro zone economies in an interview with a German newspaper.

High-level talks in Luxembourg on Sunday will assess whether there is a future for what remains of bank secrecy in Europe in the face of international pressure, but offshore centers are struggling to find common ground.

The trio of top executives at British bank Barclays , including Chief Executive John Varley and President Bob Diamond, will forgo a cash bonus for 2009, a person familiar with the matter said.

Groundhog Day, which is celebrated in the U.S. and Canada on February 2nd, has its origins in European weather folklore, where a badger rather than a groundhog is the weather forecaster. The most famous Groundhog Day celebration occurs in Punxsutawney, Pennsylvania. Tradition holds that if Punxsutawney Phil sees his shadow when emerging from his burrow, as he did this year, there will be six more weeks of winter weather. Overcast conditions and the absence of a shadow signify warmer weather for ...

The euro zone economic recovery is fragile and there are no medium term inflation risks, European Central Bank Governing Council Member Mario Draghi said on Saturday.

The fragility of the euro zone economy and public finances underline the need to extend and strengthen euro-wide economic management, European Central Bank Governing Council Member Mario Draghi said on Saturday.

A fight over an Obama administration proposal to create a new U.S. watchdog for consumer financial products threatened on Friday to derail progress toward tighter bank and capital market regulation, amid much posturing on both sides.

Goldman Sachs Group Inc announced on Friday a management shuffle atop its investment management division, according to internal memos.

U.S. stocks finished slightly lower on Friday as China took another step towards monetary policy tightening and Europe reported a weaker than expected Gross Domestic Product (GDP).

The Dow and S&P 500 dipped on Friday as China's move to curb bank lending and U.S. and European economic data raised fears the global recovery might be in jeopardy.

Warren Buffett's train has left the station, and millions of investors are joining him for the ride.

Members of President Barack Obama's Cabinet announced nearly $1 billion in grants on Friday to increase the use of health information technology, pushing a key component of Obama's healthcare overhaul and job creation plans.

The Dow and S&P 500 dipped on Friday as China's move to curb bank lending and U.S. and European economic data raised fears the global recovery might be in jeopardy.

Sales at retailers were unexpectedly strong last month, suggesting consumers were feeling a little more comfortable to spend and improving prospects for first-quarter economic growth.

The euro fell to a nearly nine-month low against the U.S. dollar on Friday as questions persisted about a rescue deal for debt-stricken Greece, while higher-yielding currencies weakened after China unexpectedly raised bank reserves. The euro headed for its fifth weekly drop versus the safe-haven greenback as a lack of details in Thursday's pledge by the European Union to help Greece fanned fears of a wider euro zone debt crisis.

U.S. stocks were slightly lower on Friday, paring losses earlier in the trading session as technology sector stocks led the market.

Microsoft is expected to secure unconditional EU approval for its landmark search deal with Yahoo Inc to challenge market leader Google , sources familiar with the situation said on Friday.

Greece's economy shrank more than feared last quarter and the government on Friday sharply revised down its figures for the previous three quarters as well, increasing doubts about its ability to resolve its debt crisis.

The Dow and S&P edged lower on Friday after a surprise move by China to restrict bank lending, while the Nasdaq was little changed as strength in technology shares offset other losses.

Ingersoll-Rand Plc's fourth-quarter profit and first-quarter forecast fell short of Wall Street expectations as demand for its heating and cooling systems showed few signs of picking up.

Online video sharing service Veoh Networks Inc plans to file for bankruptcy protection and liquidate the business, according to the company's founder.

U.S. consumer confidence slipped in February, but a stronger than expected rise in retail sales last month suggested households were feeling a bit more comfortable to spend and sustain the economic recovery.

U.S. stocks fell on Friday after a surprise move by China to restrict bank lending to cool its surging economy weighed on commodity prices and resource shares.

Private-sector economists see the economy growing more quickly than previously forecast in the first three quarters of 2010, but growth would be slower than expected toward the end of the year, a Federal Reserve Bank of Philadelphia survey said on Friday.

U.S. consumer sentiment slipped in early February, with high unemployment expected to continue and with most looking for no gain in income or home values in the year ahead, a survey released on Friday showed.

U.S. stocks fell on Friday as investors adjust to a more aggressive monetary policy from China, mixed data on U.S. consumers and disappointing reports of euro zone Gross Domestic Product (GDP).