Spain's funding costs are set to fall at auction on Thursday after Moody's affirmed the country's investment-grade credit rating and as markets expect Madrid to ask for aid soon. The Treasury plans to raise 3.5 billion to 4.5 billion euros ($4.6 billion-$5.9 billion) in an auction of three bonds maturing in 2015, 2016 and 2022.

Greek police fired teargas to disperse anti-austerity protesters hurling stones and petrol bombs on the day of a general strike that brought much of the near-bankrupt country to a standstill. It was the second time in three weeks that Greek workers had walked off the job, with Thursday's strike aimed at showing EU leaders meeting

European leaders will try to bridge deep differences over plans for a banking union at a summit on Thursday but no substantial decisions are expected, reviving concerns about complacency in tackling the three-year-old debt crisis. It will be the fourth time EU leaders have met this year and the 22nd summit held since the crisis

European Union countries are considering creating a body inside the European Central Bank to find a legally watertight way to involve states outside the euro zone in a banking union, officials said on Wednesday. European leaders meet on Thursday for a two-day summit where they will try to bridge divisions over a banking union that

The S&P 500 edged higher for its third straight day of gains on Wednesday, lifted by signs of strength in the housing market, but gains were limited by weak tech company results. Both Intel Corp and IBM tumbled a day after they reported results, keeping the Dow in negative territory as IBM alone contributed a

Two British parliamentary committees are due to quiz tax officials about how Starbucks was able to avoid paying tax on 1.2 billion pounds ($1.93 billion) of sales since 2009. Lawmakers said a Reuters report that showed Starbucks had been telling investors its UK unit was highly profitable while telling British authorities the unit was lossmaking,

Groundbreaking on new U.S. homes surged in September to its fastest pace in more than four years, a sign the housing sector's budding recovery is gaining traction and supporting the wider economic recovery. Housing starts increased 15% last month to a seasonally adjusted annual rate of 872,000 units, the Commerce Department said on Wednesday. That

French bank Credit Agricole will take a 2 billion euro ($2.6 billion) loss on the sale of its ailing Greek lender Emporiki, closing the final chapter in its dismal investment in the crisis-torn country. Credit Agricole was the most exposed to Greece among French banks, which have spent the past year slashing investments there after