INVESTMENT

Stocks fell and currency markets churned on worries about worsening credit markets and a move away from risky investments.

The recent slide in European stock markets has not signaled the turning point in the four-year bull run, chart analysts say, but stocks could struggle to recover those losses in the short term.

First Data Corp. said on Tuesday its shareholders voted in favor of its $26 billion leveraged buyout by Kohlberg Kravis Roberts & Co., but some investors remained unsure about whether the deal will close on time at current terms.

Investors worry that deteriorating borrowing conditions will saddle lenders -- and not just Citigroup -- with too many soured investments.

Stocks around the world bounced back sharply on Tuesday as volatile credit markets stabilized and after Wall St took heart from still-brisk corporate earnings growth and the smooth wind-up of another troubled hedge fund.

Hedge fund Citadel Investment Group, LLC said on Monday that it took over Sowood Capital's credit portfolio following speculation last week that heavy losses might force the smaller hedge fund to shut down.

U.S. gold futures bounced in quiet trade early on Monday, after a volatile week when the market sold off heavily on risk aversion, as investors looked for new impetus during the usually slower summer months.

Getting back on the bull will be no easy task next week, particularly after the meltdown stock investors endured over the past two days.

Shares of Blackstone Group LP, the private equity firm that went public late last month, fell as much as 7 percent on Friday, amid a debt market freeze that has shut off funding for leveraged buyouts. Blackstone's stock has fallen 21 percent since its June 21 debut, making it one of the year's worst performers for U.S. IPOs.

Outdoor advertising company Clear Channel Outdoor Holdings Inc. said on Friday its quarterly profit rose 43 percent, helped by growth in ads by automotive, telecommunications and retail companies.

Stocks and high-yield corporate bonds are back to appropriate levels, the world's biggest bond fund manager said on Friday, a day after fears of spreading problems in the housing market triggered a rout in global stock and credit markets.

The current brutal conditions in markets from mortgages to corporate loans should be giving banks good reason to think long and hard about their loans to hedge funds.

European shares bounced back while the yen and government bonds erased gains in volatile trade on Friday after robust corporate results eased credit fears which have triggered sharp moves across financial markets.

Japan's Nikkei average dropped 2.36 percent to its lowest in nearly three months on Friday on a plunge in the U.S. market and a stronger yen, while this Sunday's parliamentary election kept the market in check.

Britain's Cadbury Schweppes said on Friday it was extending the timetable for the sale of its North American drinks business due to the turbulence in debt markets, although it said buying interest was keen.

The yen hit a three-month high against the dollar and a six-week high versus the euro on Friday as a sell-off in credit and stock markets forced investors to cut back on risky carry trades.

Warren Buffett's Berkshire Hathaway Inc. has bought a small stake in Kraft Foods Inc., according to The Wall Street Journal.

Near record oil prices are expected to keep most investors keen, even though one of the Dutch pension funds that helped to lead an inrush of financial players is reviewing its exposure.

European stocks hit a one-month low and the yen and government bonds rose on Wednesday after disappointing U.S. earnings results fanned concerns that the U.S. mortgage sector's malaise may hurt the broader economy.

Accounting firm Ernst & Young plans to nearly double its transaction advisory team in Asia over the next three years, to meet rising mergers and acquisition activity in China and India, an executive said on Wednesday.

A surging U.S. market for initial public offerings has intensified competition between the two largest U.S. stock exchanges for new listings, with both markets campaigning for many of the companies that have recently gone public.