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  • Oil rises on strong company earnings, Spain hopes Wednesday, 17 Oct 2012 | 7:22 AM ET

    Strong corporate earnings reports and hopes that Spain may be close to requesting a bailout to alleviate its debt crisis helped oil prices move higher above $92 a barrel on Wednesday. By early afternoon in Europe, benchmark oil for November delivery was up 24 cents at $92.33 a barrel in electronic trading on the New York Mercantile Exchange.

  • Bailed-out Portugal raises $2.4B in debt auction Wednesday, 17 Oct 2012 | 7:12 AM ET

    LISBON, Portugal-- Portugal managed to raise 1.85 billion in a debt auction Wednesday despite the country's bleak economic prospects and growing political tension over austerity policies.

  • PepsiCo's profit dips amid turnaround push Wednesday, 17 Oct 2012 | 7:10 AM ET

    NEW YORK-- PepsiCo Inc.' s net income dipped 5 percent in the third quarter, as the food and beverage maker poured more money into bolstering its flagship brands and developing new products that position it for the future.

  • Willis Group names Casserly CEO, effective Jan 7 Wednesday, 17 Oct 2012 | 7:09 AM ET

    Insurance broker Willis Group Holdings has named McKinsey& Co. senior partner Dominic Casserley its next CEO, starting Jan. 7. The London- based company also said Wednesday that Steve Hearn, 46, will serve as Willis Group deputy CEO.

  • Knight Capital posts 3Q loss on software glitch Wednesday, 17 Oct 2012 | 7:02 AM ET

    JERSEY CITY, N.J.-- Knight Capital Group Inc. reported a large loss in its third quarter because of the fallout from a disastrous software glitch. The glitch in Knight Capital's trading software, which occurred in August, flooded the market with erroneous trades. Knight Capital takes orders from big brokers like TD Ameritrade and E-Trade.

  • *Kosovo police clash with protesters in capital Wednesday, 17 Oct 2012 | 6:57 AM ET
  • Akzo Nobel CEO to return by end of year Wednesday, 17 Oct 2012 | 6:44 AM ET

    AMSTERDAM-- The chief executive of Akzo Nobel, the world's largest maker of paints by sales, will return to work by the end of this year, the company says.

  • Spanish hopes buoy markets ahead of EU summit Wednesday, 17 Oct 2012 | 6:37 AM ET

    However, rising speculation that Spain will soon ask for help to keep its borrowing costs down continues to shore up European markets, particularly in Madrid. The surprise decision late Tuesday by Moody's to maintain its credit rating on Spain has also helped shore up sentiment.

  • Ahead of the Bell: eBay to post 3Q results Wednesday, 17 Oct 2012 | 6:35 AM ET

    NEW YORK-- EBay Inc. is expected to post higher third-quarter earnings and revenue Wednesday after the market closes, thanks to strength in its PayPal unit as well as its e-commerce platforms.

  • Spain: decision on bailout within weeks Wednesday, 17 Oct 2012 | 6:33 AM ET

    Spain is under pressure to tap a eurozone financial aid system that would give the European Central Bank the green light to buy the country's government bonds. That would lower Spain's borrowing rates in bond markets, relieving its financial burden.

  • Ahead of the Bell: US Housing Starts Wednesday, 17 Oct 2012 | 6:29 AM ET

    WASHINGTON-- Builders likely started construction on more homes in September than August, as many gained confidence in their prospects for sales in the coming months. If the forecast is correct, that would be the fastest pace since October 2008. The Commerce Department will release the report at 8:30 a.m. EDT Wednesday.

  • *Bailed-out Portugal raises $2.4 BN in debt auction Wednesday, 17 Oct 2012 | 6:25 AM ET
  • German government cuts 2013 growth forecast Wednesday, 17 Oct 2012 | 6:18 AM ET

    BERLIN-- Europe's debt crisis and waning economic growth around the world, particularly in emerging markets, prompted the German government to cut its forecast for growth next year.

  • HK officials charged in housing fraud scandal Wednesday, 17 Oct 2012 | 6:05 AM ET

    HONG KONG-- Hong Kong's anti-corruption watchdog charged a former government secretary with fraud Wednesday over a housing scandal that erupted days after he was appointed by the city's new leader.

  • Oil steady on Wall Street gains, hope for Spain Wednesday, 17 Oct 2012 | 6:00 AM ET

    BANGKOK-- A positive day for stock markets and hopes that Spain might be on the verge of requesting a bailout to fix its debt crisis kept oil prices steady Wednesday. Benchmark oil for November delivery was unchanged at $92.09 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Germany: No decision on banking union at EU summit Wednesday, 17 Oct 2012 | 5:45 AM ET

    BERLIN-- A top German government official on Wednesday dashed hopes of swift progress on strengthening Europe's financial sector, saying this week's summit of the bloc's 27 leaders won't make any final decisions on setting up a single banking supervisor.

  • Greek bank Alpha to buy unit from Credit Agricole Wednesday, 17 Oct 2012 | 5:33 AM ET

    ATHENS, Greece-- Greece's Alpha Bank says it has agreed to buy loss-making competitor Emporiki Bank from French lender Credit Agricole for the symbolic sum of 1. Credit Agricole, France's third-largest bank, is selling its Greek business due to concern over the country's financial crisis, which has caused massive losses on loans and government bond holdings.

  • Bank of England panel divided on future stimulus Wednesday, 17 Oct 2012 | 5:00 AM ET

    LONDON-- The likelihood that the Bank of England might approve more economic stimulus next month decreased on Wednesday as minutes from the latest policy meeting showed the rate-setters disagreed on the program's effectiveness and official figures showed the unemployment rate has dropped.

  • Stocks shine as Thais, Filipinos nurture stability Wednesday, 17 Oct 2012 | 4:42 AM ET

    BANGKOK-- The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand's SET index is up a whopping 33 percent.

  • Market pressure eases on Spain amid bailout hopes Wednesday, 17 Oct 2012 | 4:04 AM ET

    MADRID-- Rising speculation that Spain will soon ask for outside help to keep a lid on its borrowing costs has helped ease the pressure on the country in financial markets. There was also some relief in the markets that Moody's did not cut its credit rating on the country as had been widely-feared.