IBT Staff Reporter

Wall Street jumped on Wednesday as an increase in U.S. manufacturing activity and new signs of growth in China and Australia boosted investor confidence on the state of the global economy.

Borders Group Inc reported another quarterly loss as the second-largest U.S. book store chain continued to grapple with lower sales and the shift to digital bookselling.

Citigroup's private banking arm has set up a global unit to target family offices, organizations that manage the financial affairs of rich dynasties, according to an internal memo seen by Reuters.

U.S. private employers unexpectedly cut 10,000 jobs in August compared to a revised gain of 37,000 in July, a report by a payrolls processor showed on Wednesday.

Manufacturing in China, India and Russia powered ahead in August while growth slowed in European factories, emphasising a growing divide in the pace of recovery between the rich and emerging worlds.

U.S. Defence Secretary Robert Gates told U.S. soldiers on Wednesday they were in the final phase of engagement in Iraq after ending combat missions, and history would judge if the invasion had been worth it.

Israel's defence minister said on Wednesday the Jewish state would be willing to hand over parts of Jerusalem in peace talks with the Palestinians to be launched by U.S. President Barack Obama.

At least four retailers from Europe and Asia are poised to submit first-round bids for Carrefour SA's roughly $1 billion (650 million pounds)-worth of Southeast Asian assets on Wednesday, sources said, showing robust demand for the retail operations.

private employers unexpectedly cut jobs in August, a report by a payrolls processor showed on Wednesday, delivering another blow to the already faltering economic recovery.

The number of planned layoffs at U.S. firms fell 17 percent in August from the prior month and hit the lowest level in 10 years, a report on Wednesday showed.

North Korea vowed to strengthen military ties with China on Wednesday, days after the North's leader Kim Jong-il finished a visit aimed at bolstering the bond with his isolated country's sole major supporter.

Sweden's Chief Prosecutor said on Wednesday she was reopening a preliminary investigation into rape charges against WikiLeaks founder Julian Assange.

Growth in the country's manufacturing sector slowed more than expected last month, led by the weakest expansion in new orders for more than a year, a purchasing managers' survey showed on Wednesday.

Growth in the country's manufacturing sector slowed more than expected last month, led by the weakest expansion in new orders for more than a year, a purchasing managers' survey showed on Wednesday.

Social networking website Facebook is dipping into the brick-and-mortar world by selling gift cards at retailer Target that can be used toward purchasing virtual products for games hosted on the site.

India on Wednesday launched a clampdown on major Internet communications firms, including Google and Skype, and began accessing some BlackBerry traffic in a campaign driven by security fears.

Michael Wei and Lucy Hornby

Wall Street was set for a higher open on Wednesday as new signs of growth in China and Australia eased concerns about the global economy's health and investors shrugged off an unexpected cut in U.S. private sector payrolls.

World stocks kicked off September on a stronger note on Wednesday as data showed a manufacturing rebound in China and stronger-than-expected growth in Australia, while the yen held near recent 15-year peaks against the dollar.

Corrects timing of comments made about same-store sales in paragraph 8

Stock index futures trimmed gains slightly on Wednesday after data showed private employers unexpectedly cut 10,000 jobs in August.

Private employers unexpectedly cut 10,000 jobs in August compared to a revised gain of 37,000 in July, a report by a payrolls processor showed on Wednesday.

Growth in the country's manufacturing sector slowed more than expected last month, led by the weakest expansion in new orders for more than a year, a purchasing managers' survey showed on Wednesday.

The union representing British Airways' cabin crew is considering balloting members over a fresh wave of strike action if no progress on a peace deal is made soon.

Manufacturing activity in the euro zone expanded in August at its slowest pace since February as the pace of recovery among member countries diverged further, a survey showed on Wednesday.

U.S. regulators did not grant Lehman Brothers the same assistance as its competitors, knocking out the possibility of an orderly unwind of the firm and aggravating the global crisis, former Lehman Chief Executive Dick Fuld said on Wednesday.

Amazon.com Inc has approached media companies with a proposal for a subscription service that gives users unlimited access to some television shows and movies over the Internet in a bid to rival Netflix Inc, two people familiar with the talks said on Tuesday.

Stock index futures rose on Wednesday as new signs of growth in China and Australia eased concerns about the global economy's health and investors awaited data on the labor market and housing.

Stock index futures rose on Wednesday as new signs of growth in China and Australia eased concerns about the global economy and investors awaited data on the labor market and housing.