Gold Recovers by 1% After Plunge on Bernanke Comments

Spot gold rose more than 1 percent Thursday, recovering from its biggest fall in more than three years in the previous session when U.S. Federal Reserve Chairman Ben Bernanke failed to signal further monetary easing.

Swiss Lawmakers Back U.S. Tax Plan, Part of Bank Probe

Swiss lawmakers threw their support behind a tax proposal which could help to strike a deal with the United States on Wednesday, a move which is seen as instrumental to settling a U.S. probe into Swiss banks with hidden offshore accounts.

GM Hesitates Over Peugeot Alliance Plan: Report

French car maker PSA Peugeot Citroen's alliance talks with General Motors may yet fail as the U.S. automaker hesitates over criticism from investors, a source with knowledge of the discussions said.

Fed To Sell Rest of Toxic Waste Bonds From Bailout: Bloomberg

At least one large financial institution has approached the Federal Reserve Bank of New York with an offer to buy out the remaining mortgage-backed toxic waste bonds it received from AIG as collateral for a $19.5 billion bailout in 2008, according to Bloomberg News, as banks are looking to profit from what many see as an incipient turnaround in the U.S. housing market.

Newmont Mining Expects Strong 4Q

As one of the world's top gold producers, Newmont Mining Corp (NYSE:NEM) seems to have a lot of advantages on its side. But uncertainty about peripheral items, including the effect of recent acquisitions and political developments that could hurt its bottom line, are keeping Wall Street analysts skeptical on the company.

Analysis: Goldman's Top Brass Gun for Cash Bonuses

While Wall Street slashes pay and freezes cash awards, Goldman Sachs Group's top five executives may reap special bonuses of $10.5 million apiece if the firm hits historically easy profit targets over the next two years.

American International Group Earnings Preview: Q4 Swings to Profit on Tax Gain

Bailed-out insurance giant American International Group Inc. (NYSE:AIG), boosted by a one-time accounting gain, is expected to return to profitability when it reports its fourth-quarter earnings after markets close Thursday. Favorable stock market conditions and less reserve charges may also helped offset large losses stemmed from Thailand floods.

Asian Stocks Unmoved by Greece's Bailout Deal

The euro jumped and U.S. Treasuries dipped on Tuesday after eurozone policymakers agreed to a second bailout package for Greece in talks that went deep into the night in Brussels, but concerns that the deal is only a short-term fix kept stocks subdued and Asian stocks unaffected.

Alibaba to Secure Loan, Eyes HK Unit Buyout

Chinese e-commerce firm Alibaba Group is set to sign on Monday a $3 billion loan it plans to use to take private its Hong Kong-listed unit,, Thomson Reuters publication Basis Point reported.

Nasdaq Looks to Congress to Win Market Reforms

Exchange operator Nasdaq OMX is trying to gain support for a legislative proposal that would give it a competitive edge over both rival exchanges and banks that operate anonymous trading venues known as "dark pools."


A man walks past a logo of Alibaba (China) Technology Co. Ltd at its headquarters on the outskirts of Hangzhou Shares Halted; Yahoo Update?

Trading in shares of Ltd was halted on Thursday pending an announcement regarding its parent, Chinese e-commerce giant Alibaba Group, which reportedly plans to buy back the 40 percent stake in it held by Yahoo Inc.
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Wegelin Boss Gives Up NZZ Role After U.S. Tax Probe

The head of Wegelin -- Switzerland's oldest private bank and which the U.S. has indicted for helping clients dodge taxes -- is standing back from his role as chairman of the country's influential Neue Zuercher Zeitung daily.
IBTimes Logo shares halted; Yahoo update?

Trading in shares of Ltd was halted on Thursday pending an announcement regarding its parent, Chinese e-commerce giant Alibaba Group, which reportedly plans to buy back the 40 percent stake in it held by Yahoo Inc.
A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange

Goldman Sachs Buys $6.2B in Mortgage Bonds from Fed

Goldman Sachs Group Inc. (NYSE:GS) has purchased mortgage bonds valued at $6.2 billion from the Federal Reserve Bank of New York, previously owned by the insurance giant American International Group Inc. (NYSE:AIG), until its government bailout in 2008.