Gold prices hit a record high of more than $1,625 an ounce on Wednesday and Asian stock markets were largely flat as news out of Washington indicated politicians were making little progress in ending a deadlock over raising the U.S. debt ceiling. Republicans had to delay bringing a plan to a vote in the U.S.

Analysts expect Boeing Co to report a narrowed quarterly profit on Wednesday, but Wall Street will be looking for executive comments on its high-profile commercial airplane programs. The world's largest aerospace and defense company is expected to post a second-quarter profit of 97 cents a share, according to analysts polled by Thomson Reuters I/B/E/S. A

Japan could face a power shortage of more than 9% next summer if all its nuclear reactors are shut, media reported on Wednesday. Public concerns about nuclear power flared after a deadly earthquake and tsunami in March caused the world's worst nuclear disaster in 25 years. By May 2012, all 54 of Japan's reactors could

British cable company Virgin Media lost 36,000 customers in the second quarter, taking its total to 4.78 mln, but those who remained spent more as the company pursued a strategy of selling more of its telecoms and television services to each one. Virgin Media, which has Britain's fastest broadband connections, increased sales by 2% to

The U.S. dollar fell broadly on Tuesday as U.S. lawmakers remained deadlocked over raising the nation's debt ceiling to avoid a devastating default, while U.S. and European shares also declined. Unless lawmakers reach a deal to raise the $14.3 trln ceiling by August 2, the United States faces the prospect of a default on some

Russia will increase by half the amount it spends on modernising and re-arming its ailing military in 2011 compared to last year, Prime Minister Vladimir Putin told defence and finance officials on Tuesday. About 750 bln roubles ($27.20 bln) will be spent this year on purchasing arms, defence-related research and development work, Putin said. "We