INVESTMENT

After a lengthy absence, [other] asset managers and central bankers are readmitting gold back into the group of prudent asset classes, writes Thomas Kaplan, chairman of New York's Tigris Financial advisory and asset-management group, in today's Financial Times.

Citigroup Inc named investment bank chief John Havens president and chief operating officer on Wednesday, expanding its most senior level of executives and elevating a long-time friend of Chief Executive Officer Vikram Pandit.

Goldman Sachs earned less money in fourth quarter 2010, led by declines in their ultra-profitable market making business.

Russia's gross domestic product (GDP) is projected to expand 5.4 percent in 2011 and 5.7 percent in the following year, Nordea Bank said on Wednesday.

Futures on major U.S. indices point to a lower opening on Wednesday after Goldman Sachs reported a decline in quarterly profit and a government report showed that U.S. housing starts fell more than expected in December.

Citigroup Inc named investment bank chief John Havens president and chief operating officer on Wednesday, expanding its most senior level of executives and elevating a long-time adviser to Chief Executive Officer Vikram Pandit.

The companies that reported earnings before the markets open on Wednesday are: Goldman Sachs, Wells Fargo, U.S. Bancorp, State Street, Northern Trust, Bank of New York Mellon and Hudson City Bancorp.

Taiwan Semiconductor Manufacturing Co Ltd, the world's largest contract chip maker, could boost investment by 35.6 percent in 2011 as it seeks to boost efficiency with new technology, a media report said on Wednesday.

US automaker Ford Motors on Tuesday announced that it would invest $400 mln in the Kansas City plant to install a new body shop, new tooling and other upgrades.

The companies which are expected to see active trade on Wednesday are Apple, Goldman Sachs, eBay, IBM, Cree, Wells Fargo, U.S. Bancorp and Xilinx.

Futures on major U.S. indices point to a flat opening on Wednesday ahead of quarterly earnings from top investment bank Goldman Sachs and key housing data due to be released before market opens.

Australia's government is reportedly considering a taxpayer levy to help pay for massive flood rebuilding, while preserving the budget's path back to surplus in 2012-13, as one major bank warned on Tuesday the damage bill could reach A$20 billion.

An increasing number of U.S. companies in China say the enforcement of intellectual property rights has deteriorated in the last year and that the regulatory environment is the biggest hurdle to doing business there, a survey showed on Wednesday.

Swiss Bank UBS will revise its dress code 44-page dress code telling its Swiss staff how to present themselves, which sparked worldwide ridicule for its micro-management of their dressing and dining habits.

Taiwan Semiconductor Manufacturing Co Ltd, the world's largest contract chip maker, could boost investment by 35.6 percent in 2011 as it seeks to boost efficiency with new technology, a media report said on Wednesday.

Tata Steel has raised 5.08 billion rupees ($111.8 million) from anchor investors at the upper end of an indicated price range ahead of a public share offering, reflecting investor optimism in the company's prospects in India's fast-expanding economy.

Goldman Sachs Group Inc's decision to scale back a heavily publicized sale of shares in social network site Facebook shows how the bank risks losing its edge as financial regulation intensifies.

Executives from General Electric, Microsoft, Goldman Sachs, Coca-Cola, Boeing, Intel and Carlyle Group will be among U.S. business leaders at a meeting on Wednesday hosted by U.S. President Barack Obama with Chinese President Hu Jintao, a White House official said.

Washington Mutual Inc could be out of bankruptcy in March after reworking its recently rejected plan of reorganization, the attorney overseeing the company's bankruptcy said on Tuesday.

Chinese President Hu Jintao and President Barack Obama will meet with U.S. and Chinese business leaders at the White House on Wednesday to discuss ways to expand trade and investment opportunities, with the U.S. executives seeking deals to tap into China's economic growth.

Clothing retailer J Crew Group Inc is set to settle a shareholder lawsuit over its proposed takeover by private equity firms TPG Capital and Leonard Green & Partners LP.