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  • LONDON, Oct 10- Global household wealth will grow by nearly 50 percent in the next five years to $330 trillion, with the Chinese overtaking the Japanese as the world's second richest people, Credit Suisse said in a report on Wednesday.

  • Stocks down again at midday Wednesday, 10 Oct 2012 | 11:47 AM ET

    NEW YORK-- Stocks are down again on Wall Street, this time because of the prospect of weaker earnings for Alcoa and Chevron. Just before the lunch hour, the Dow Jones industrial average is down 67 points at 13,406. The Standard& Poor's 500 index is down three at 1,437. And the Nasdaq composite index is off three at 3,061..

  • Oct 10- Activist investor Clinton Group said it will no longer push for a sale of Wet Seal Inc, which it won control of last week, but will instead focus on turning around the women's clothing retailer.

  • European shares hit by weak earnings outlook Wednesday, 10 Oct 2012 | 11:36 AM ET

    LONDON, Oct 10- European shares fell for a third straight session on Wednesday, dragged lower by expectations of weak corporate earnings in the region after a subdued start to the U.S. reporting season. It added to investor concerns after U.S. bellwether aluminium maker Alcoa. cut its demand forecasts and oil major Chevron Corp issued a profit warning.

  • Analyst downgrades Home Depot after strong gains Wednesday, 10 Oct 2012 | 11:33 AM ET

    NEW YORK-- Home Depot, the largest U.S. home-improvement retailer, should benefit substantially from the expected housing market recovery, according to an Oppenheimer analyst. But until the recovery starts to gain traction, Home Depot's shares are expected to trade sideways, the analyst said Wednesday, and downgraded the stock.

  • Oct 10- Record-high retail prices for gasoline in California began to ease on Wednesday, receding from an unprecedented rally to nearly $5 a gallon, even as further refinery disruptions threatened to slow the decline.

  • Ex-GM vice chair joins board of steel materials company Wednesday, 10 Oct 2012 | 11:31 AM ET

    Oct 10- Former General Motors Co Vice Chairman Robert Lutz has joined the board of a steel materials design company in which the U.S. automaker has invested, NanoSteel Co Inc said on Wednesday.

  • Progressive 3Q profit jumps on investment gains Wednesday, 10 Oct 2012 | 11:29 AM ET

    MAYFIELD VILLAGE, Ohio-- Auto insurer Progressive said Wednesday that its third-quarter net income jumped 84 percent, boosted by gains on its investments. Progressive earned $277 million, or 46 cents per share, in the three months ended in September, up from $150.7 million, or 24 cents per share, in the same quarter last year.

  • NEW YORK Oct. 10, 2012-- Standard& Poor's Ratings Services today lowered its ratings on three classes of commercial mortgage pass-through certificates from GMAC Commercial Mortgage Securities Inc.' s series 2001- C1 due to current and potential interest shortfalls.

  • Romney's Bain advisers aided China, Russia growth Wednesday, 10 Oct 2012 | 11:16 AM ET

    WASHINGTON-- As Bain& Co. head in the early 1990 s, Mitt Romney presided over the corporate strategy firm's expanding operations into China and Russia, helping their initial attempts to move into the world's free market system. In his campaign, China and Russia are prime targets for criticism.

  • U.S. Fed sells $7.8 bln of shorter-dated Treasuries Wednesday, 10 Oct 2012 | 11:11 AM ET

    NEW YORK, Oct 10- The Federal Reserve on Wednesday sold on the open market $7.8 billion of U.S. Treasuries maturing April 2014 through February 2015, the New York Fed said on its website. Dealers submitted a total of $44.482 billion of Treasuries for the sale, the New York Fed said.

  • Wal-Mart to accelerate small store growth Wednesday, 10 Oct 2012 | 11:09 AM ET

    NEW YORK-- Wal-Mart Stores Inc. is accelerating the expansion of small stores, particularly its Neighborhood Market stores, as it looks to compete with a variety of rivals from dollar stores to drug chains.

  • TEXT-S&P rates NorthStar Student Loan Trust I 2012-1 notes Wednesday, 10 Oct 2012 | 11:08 AM ET

    --NorthStar Student Loan Trust I's issuance is an ABS securitization backed by student loans that are at least 97% reinsured by the U.S. federal government. NEW YORK Oct. 10, 2012-- Standard& Poor's Ratings Services today assigned its preliminary' AA+' rating to NorthStar Student Loan Trust I's $674.6 million class A student loan asset-backed notes series 2012-1.

  • NEW YORK, Oct 10- Elevated general collateral repo rates indicated the Treasury's $40 billion four-week bill auction Wednesday is likely to be dominated by dealers.

  • Sudan, South Sudan pledge peace, seek investment Wednesday, 10 Oct 2012 | 11:06 AM ET

    *Rare chance for Sudan to meet Western firms. *Sudan and South came close to war in April. VIENNA, Oct 10- Sudan and South Sudan pledged to work together to rebuild their shattered economies and not to return to war in a joint plea for foreign investment after signing a critical trade and border agreement last month.

  • Willie Geist joins 'Today' show Wednesday, 10 Oct 2012 | 11:06 AM ET

    NEW YORK-- Willie Geist will no longer have to be at work way too early. The MSNBC personality will join Al Roker and Natalie Morales as a host of the 9 a.m. hour of the "Today" show, and contribute to the program during its first two hours, NBC News said Wednesday. "There is a sense of just loosening up the show a bit," said Geist, son of CBS News reporter Bill Geist. "

  • Beatles romp at latest Woodstock Film Festival Wednesday, 10 Oct 2012 | 11:04 AM ET

    Also highlighted at the film festival this year will be "Vamps," director Amy Heckerling's comedic take on the travails of club-hopping vampires, which reunites her with "Clueless" star Alicia Silverstone.

  • RPT-Buyout firms, Discovery eye ProSieben units-sources Wednesday, 10 Oct 2012 | 11:04 AM ET

    *BC Partners, EQT, Providence, Discovery showed interest* Price tag seen at up to 1.4 bln euros* Final bids due later this months By Sven Nordenstam and Arno Schuetze STOCKHOLM/ FRANKFURT, Oct 10- ProSiebenSat1.

  • Brent crude futures up more than $1 Wednesday, 10 Oct 2012 | 11:04 AM ET

    Brent November crude was up 89 cents at $115.39 a barrel at 11:02 a.m. EDT, having traded from $113.77 to $115.59.

  • Investors increase Treasuries holdings in week - survey Wednesday, 10 Oct 2012 | 11:00 AM ET

    Treasury debt prices in the latest week as worries over the outcome of Europe's debt crisis supported safe-haven buying of U.S. government debt, a survey released on Wednesday showed. The share of investors who were "short", or holding fewer Treasuries than their benchmarks, was unchanged on the week at 15 percent, according to the latest J.P. Morgan survey.