INVESTMENT

Gold consumers across Asia greeted bullion's run to a record high cautiously on Wednesday, with a few moving to cash in gains but the majority opting to wait for the rest of a rally they believe has only just begun.

Julius Baer will buy ING's Swiss private banking assets for 520 million Swiss francs ($507 million), the European wealth management industry's biggest deal since the crisis began.

Gold received a lukewarm reception a day after racing to a record high, with consumers in Asia more likely to be cashing in than panic buying.

Julius Baer , bulking up in its home market, has won the auction to buy the Swiss private banking assets of Dutch financial services group ING for around $500 million, two sources with knowledge of the deal said.

Gold eased from record highs on Wednesday as investors took profits, but sentiment remained bullish and a fresh record was within sight as the dollar's weakness and inflation concerns reinforced bullion's appeal as a hedge.

Texas oil tycoon T. Boone Pickens said on Tuesday he has increased his long oil and natural gas position in recent weeks.

Bank of America said it will not raise rates or change terms on consumer credit card accounts ahead of reform legislation slated to go into effect early next year, according to a letter released by a lawmaker on Tuesday.

Fund manager BlackRock remains bullish on stocks, particularly in the United States and in emerging markets, forecasting U.S. equity markets will offer annual returns of 6 to 8 percent over the next several years.

Fund manager BlackRock remains bullish on stocks, particularly in the United States and in emerging markets, forecasting U.S. equity markets will offer annual returns of 6 to 8 percent over the next several years.

Gold surged to a record high above $1,040 per ounce on Tuesday, as investors piled into the metal to preserve the value of their dollar-denominated assets against erosion by a weakening dollar and inflation.

Fund manager BlackRock remains bullish on stocks, particularly in the United States and in emerging markets, forecasting U.S. equity markets will offer annual returns of 6 to 8 percent over the next several years.

Broker dealers must be held to a higher standard if they provide financial advice to clients, regulators told lawmakers on Tuesday as Congress weighs changes to the U.S. financial regulatory system.

Gold surged to a record high above $1,040 per ounce on Tuesday, with buying fueled by dollar weakness after a report, later denied, that Gulf Arab states were considering abandoning the U.S. currency for oil trade.

The following financial services industry appointments were announced on Tuesday.

Boeing Woes Continue; Gold's Record High; Stock, Not Cash Pay

UBS AG said on Tuesday it had hired 18 investment bankers in the United States to focus on lending in the energy sector.

Stock futures rose on Tuesday on renewed hopes for a global economic recovery after Australia raised interest rates and in anticipation of the start of an improved earnings season.

Stocks are expected to trade higher on Tuesday as the futures for the Dow Jones industrial average, S&P 500 and Nasdaq Composite were up 0.2 to 0.3 percent at 4.18 a.m. ET.

European shares rose in early trade on Tuesday, adding to gains in the previous session as further evidence of global economic recovery boosted demand for riskier assets like equities.

U.S. stocks are expected to trade higher on Tuesday as the futures for the Dow Jones industrial average DJc1, S&P 500 SPc1 and Nasdaq Composite NDc1 were up 0.2 to 0.3 percent at 0818 GMT.

A group of investors led by Starwood Capital Group and private equity firm TPG have won the auction for assets of failed Corus Bank, in a deal that will see them invest about $554 million, a source familiar with the situation said on Tuesday.