NEW YORK - Global equity markets fell on Wednesday, reversing earlier gains driven by solid corporate earnings and mild U.S. inflation data that may let the Federal Reserve keep interest rates lower for longer, as U.S. stocks retreated after some big corporate names sold off.
WASHINGTON - U.S. consumer prices rose marginally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while.
LONDON - It is too late to change the allowances paid to top banking staff that have been deemed to breach European Union law, a senior Bank of England official said on Wednesday.
LONDON - Sterling fell around half a percent against a stronger dollar on Wednesday after Bank of England minutes showed policymakers were firmly against raising interest rates when they met earlier this month.
LONDON - Fixed income investment firm Pimco's global banking specialist, Philippe Bodereau, expects 18 banks will be seen to have failed the European Central Bank's stress test of 130 regional lenders when results are published by the ECB on Sunday.
MADRID/VIENNA - The European Central Bank cautioned on Wednesday against speculation over the outcome of its stress tests after a media report said at least 11 banks had failed the landmark financial health checks, driving some banking shares lower.
LONDON - Most Bank of England policymakers are firmly against raising interest rates, seeing little evidence of inflation pressures while the slowing euro zone poses growing risks, minutes of their latest meeting showed.
MADRID/VIENNA - Austria's Erste Bank rejected a report that it was one of at least 11 banks that had failed the European Central Bank's landmark health check, while other banks named by Spanish newswire Efe did not comment.
TOKYO - Izuru Kato is a soft-spoken and bookish economist, but his dismissal of the Bank of Japan's stimulus policy as "monetary shamanism" is ringing loud in the ears of bank Governor Haruhiko Kuroda.
BEIJING - China's central bank is likely to hold its line against an interest rate cut even as growth slows to a quarter-century trough, as the politics of reform influence the conduct of monetary policy, government sources involved in internal policy discussions say.