S&P says Europe may be heading for a recession

A flurry of fresh economic data suggests that initial expectations of Europe remaining relatively immune from the U.S. slowdown were overly optimistic, according to the latest economic forecast from Standard & Poor's

U.S. July durables orders surprisingly strong

New orders for long-lasting U.S. manufactured goods jumped a surprising 1.3 percent in July, while a gauge of business investment also rose unexpectedly, a government report showed on Wednesday. Orders for durable

Wall Street set for a weaker open

Futures fell by around 0.4 percent on Wednesday as concerns lingered about the banking sector. The Federal Deposit Insurance Corporation said on Tuesday that the number of troubled U.S. banks rose 30

Fidelity-Goldman ties probed: report

The New York attorney general's office is probing the relationship between Fidelity Investments and Goldman Sachs Group Inc. in connection with the sale of auction-rate securities, the Wall Street Journal said, citing