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Stock futures signal higher open; Facet eyed
(Reuters) - Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.07 percent, Dow Jones futures up 0.09 percent and Nasdaq 100 futures up 0.25 percent.
AIG devises new formula for employee bonuses: report
(Reuters) - American International Group Inc <AIG.N> has formulated a new "forced ranking" system to determine bonuses and rate employee performance, Wall Street Journal said, citing people familiar with the matter.
China's Geely secures financing to buy Volvo: report
STOCKHOLM (Reuters) - The parent of China's Geely Automobile <0175.HK> has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.
French minister says U.S. tanker affair not closed
PARIS (Reuters) - A top French minister on Wednesday attacked the United States' handling of an aerial tanker contract, which has seen Europe's EADS <EAD.PA> drop out of the race, and said the matter was not over yet.
Insurers' Chile quake hit won't up prices
MUNICH/ZURICH (Reuters) - Last month's huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world's top two reinsurers said, but it looks unlikely to raise reinsurance prices.
Strong China trade data point to rise in yuan
BEIJING (Reuters) - Chinese exports and imports grew faster than expected in February, underlining the momentum behind the world's third-largest economy and reinforcing the case for a rise in the yuan.
Northern Rock shrinks losses, arrears rise
LONDON (Reuters) - State-owned Northern Rock shrank its losses in 2009, helped by a lower bad debt charge in the second half as house prices stabilized, but arrears rose and the lender warned loan impairments would stay high in 2010.
China plans new trade office as global disputes grow: sources
BEIJING/GENEVA (Reuters) - China is setting up a new agency to help streamline its trade negotiating bureaucracy as the world's third-largest economy faces a growing number of commercial disputes.
Economists trim 2011 U.S. growth forecast
WASHINGTON (Reuters) - U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Oil struggles for clear direction from $81.50
LONDON (Reuters) - Oil failed to find momentum in either direction for a clear move away from $81.50 on Wednesday as investors waited for data on U.S. stocks or OPEC's monthly report ahead of next week's meeting to provide impetus.
World stocks, commodities up; sterling down
LONDON (Reuters) - Weak data and concerns over Britain's fiscal problems hit sterling on Wednesday, while world stocks inched up to hover near their recent six-week highs and commodities rose on the back of strong trade data from China.
Swiss Re sees $4-$7 billion insurance losses from quake
ZURICH (Reuters) - Swiss Re <RUKN.VX> said on Wednesday the insurance sector stood to lose $4-$7 billion from the earthquake in Chile, a sum unlikely to bring the long hoped-for increase in reinsurance prices.
BofA ending overdraft fees on debit cards
NEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America said on Tuesday it will no longer charge overdraft fees on debit card purchases as of this summer, a move that may cost millions in fee income.
Toyota to fix more Tundras for rust problems
DETROIT (Reuters) - Toyota said on Tuesday it would fix all Tundra pickups sold in the United States for the 2000 to 2003 model years to address a risk that part of the truck's frame could corrode, causing spare tires or even the gas tank to drop to the road.
Greece says G20 to review financial speculation
WASHINGTON (Reuters) - Greece, pressing for curbs on financial speculation it blames for worsening the country's debt crisis, said on Tuesday the idea would be examined by the Group of 20 leading powers at their next summit.
Chevron seeks UK refinery sale, to cut 2,000 jobs
NEW YORK (Reuters) - Chevron Corp <CVX.N>, the second-largest U.S. oil company, put some of its downstream operations up for sale, including its Pembroke refinery in the UK, and said it would eliminate 2,000 jobs this year.
Senators to seek wider "Volcker rule"
WASHINGTON (Reuters) - Two Senate Democrats said they will propose on Wednesday placing new limits on proprietary trading by banks and nonbank financial firms, widening the 'Volcker rule' backed by the White House.
Cisco leapfrogs rivals with faster router
NEW YORK (Reuters) - Cisco Systems Inc introduced its first major new routers in six years and said they can be configured to handle Internet traffic up to 12 times faster than rival products.
J Crew beats in quarter, posts robust sales
SAN FRANCISCO (Reuters) - Apparel retailer J Crew Group Inc <JCG.N> on Tuesday posted a net profit in its holiday quarter that beat Wall Street estimates, helped by tight inventory and double-digit sales growth.
Bailed-out U.S. financial stocks surge
NEW YORK (Reuters) - The shares of companies bailed out by the U.S. government during the financial crisis surged on Tuesday, fueled by speculation about money-making asset sales, cheap valuations and a recovery.
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