S.Africa's parliament to elect Jacob Zuma president
South Africa's parliament is set to choose Jacob Zuma as state president on Wednesday after his ruling ANC's resounding election victory, capping a remarkable political comeback.
Mumbai attack accused says not guilty of charges
The man accused of being the lone surviving gunman from last year's Mumbai attack pleaded not guilty Wednesday to 86 charges against him, including murder and waging war against India, lawyers said.
Nasdaq slips on tech, but Dow and S&P up
The Nasdaq turned negative on Wednesday as investors rotated bets out of technology companies and into financials. The KBW Bank index jumped 7 percent.
Truck bomb kills 10 in Baghdad market
A truck bomb killed 10 people and wounded 37 others when it exploded early on Wednesday morning in a wholesale vegetable market in southern Baghdad, police said.
Elections in Indian Kashmir, a test for separatists
Kashmir's separatist leaders are struggling to win back popular support, and are hoping that a boycott of Thursday's election to the Indian parliament may yet breathe new life into the 20-year movement.
Marsh & McLennan posts profit
Marsh & McLennan Cos Inc , the second-largest global insurance broker, posted a first-quarter profit on Wednesday, reversing a year-earlier loss, as lower costs helped offset a decline in revenue.
NATO holds Georgia war games, Russia critical
NATO began military exercises in Georgia on Wednesday in a move Russia said threatened stability in the region just nine months after a war between the former Soviet neighbors.
TIMELINE: Chrysler's road to bankruptcy
A U.S. bankruptcy judge has approved bidding procedures for the rapid sale of most of bankrupt vehicle maker Chrysler's assets.
China says concerned by U.S. naval incident
China said on Wednesday it was concerned after a standoff in the Yellow Sea between a U.S. Navy surveillance ship and two Chinese fishing vessels, accusing the U.S. vessel of contravening international laws.
Obama wants alliance with Afghan, Pakistan heads
U.S. President Barack Obama will urge the leaders of Pakistan and Afghanistan to put aside a history of mistrust and join Washington in an alliance against Islamic extremists at a White House meeting on Wednesday, senior administration officials said.
BofA and Citi need capital as stress tests results loom
Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, an industry source familiar with results of a government stress test said late on Tuesday.
Obama, lawmakers agree on
President Barack Obama and Democratic lawmakers reached agreement on Tuesday on a legislative proposal designed to stimulate U.S. auto sales, which have fallen to near 30-year lows.
U.S. private-sector job losses slow
U.S. private-sector job losses slowed much more than expected in April, hitting their lowest since November last year, according to a report by ADP Employer Services on Wednesday.
Oil breaks above $55 on jobs data
Oil rose more than $1 and broke above $55 a barrel on Wednesday, bouncing up from moribund early trade around $54 after data showed U.S. private sector job losses had slowed in April.
EU agrees billions to make energy grid crisis-proof
Europe's energy networks will receive a 4-billion-euro ($5.3 billion) upgrade to make them more robust and flexible in future energy crises following a vote in the European Union assembly on Wednesday.
The post-recovery US economy will still be weak and will get clobbered by commodities prices
By now, most smart money has typically pegged the US recovery in late 09, early 2010.
China hydropower subprime carbon flood may slow
China's booming hydropower sector is facing mounting criticism for generating subprime carbon credits from projects that don't need extra earnings to succeed, raising the risk of tougher rules and putting billions of dollars of clean energy investments at risk.
Wall Street to open higher after encouraging data
Wall Street was poised for a higher open on Wednesday as encouraging signs about the job market offset renewed concern about the health of banks after a source told Reuters stress tests show Bank of America has a $34 billion capital shortfall.
Retailers mustn't cut back on being green: study
Retailers, seeking to cut costs in the economic downturn, need to continue investing in environmental sustainability if they want to retain customers, according to a report published on Wednesday.
Solar good long-term investment bet: strategist
Solar, like much of the cleantech industry, should prove a profitable bet for investors over the next decade as demand grows and costs fall, a top cleantech strategist said on Wednesday.
U.S. private sector job losses at 5-month low
U.S. private sector job losses slowed in April, according to a report by ADP Employer Services on Wednesday, hitting their lowest since November last year and surprising economists who had expected a much worse result.
RIM chief bids for NHL's Coyotes
Jim Balsillie, the co-chief executive of Canadian smartphone maker Research in Motion, is trying to import a professional hockey team to Canada for the third time in a move that looks likely to put him on a collision course with the National Hockey League.
Stock futures turn positive on ADP data
Stock index futures turned positive on Wednesday after better-than-expected data on private-sector employment.
Bank jitters weigh on stock futures
Wall Street was set for a lower open on Wednesday on renewed concern about the health of banks after a source said government stress test results show Bank of America needs as much as $34 billion in capital.
BofA and Citi shares sink on stress test worries
Bank of America needs $34 billion in extra cash, a source familiar with U.S. government stress tests on leading banks told Reuters, unsettling markets and stoking talk of a possible asset sale in China.
CORRECTED: Bank jitters weigh on stock futures
Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes were down 0.2-0.4 percent at 5:02 a.m. EDT, pointing to a lower start on Wall Street.
Oil steadies above $54 ahead of EIA data
Oil held above $54 a barrel on Wednesday, supported by news of an unexpected fall in U.S. crude and gasoline stocks, but gains were limited by persistent uncertainty about any economic recovery.
Boston Globe Guild, NY Times reach tentative deal
The Boston Globe's biggest union forged a tentative deal early on Wednesday with owner New York Times Co, which had threatened to shut the money-losing daily newspaper, the Globe said.
Stock futures point to lower Wall Street open
Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.2-0.4 percent at 5:02 a.m. EDT, pointing to a lower start on Wall Street.
Bank of America to need $34 billion in capital: source
Bank of America Corp has been deemed to need as much as $34 billion in additional capital, according to the results of a government stress test, a source familiar with the results told Reuters late on Tuesday.