The Dow Jones industrials rose 186.79 points, or 1.52%, to 12453.54, the highest closing level since June 5, 2008. Wednesday's climb represented the measure's largest one-day gain since March 3.
Workers began removing radioactive water from one of the reactors at Fukushima Daiichi nuclear complex, a long-delayed step that could prevent further toxic ocean spills.
German finance officials are warming to the candidacy of Mario Draghi for ECB president, potentially removing a hurdle to his ascendancy to one of the world's most important central-banking jobs.
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Spain's Treasury sold €3.37 billion in two long-dated government bonds, in a well-received auction that eased fears that speculation of a Greek debt restructuring will hurt Spain's ability to borrow in the market.
The prospect of an increase in U.K. borrowing costs any time soon diminished following the publication of a dovish set of minutes from the Bank of England's policy meeting and a survey showing a drop in Britons' inflation expectations.
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A year after UBS mounted an ambitious effort to restore its investment bank to past glory, the efforts have been undercut on several fronts. Poor pay packages have sparked an exodus of talent.
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The Swiss government backed a raft of measures sent to Parliament aimed at better insulating the economy from a collapse of one or both big Swiss banks, saying taxpayers shouldn't be perceived as lenders of last resort to UBS and Credit Suisse.
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Berkshire Hathaway agreed to take on $3.5 billion in potential asbestos liabilities from American International Group, removing some uncertainty from AIG's books ahead of its re-IPO and giving Warren Buffett new funds to invest.
The Irish government could eventually raise $7.17 billion from the sale of its state-owned assets to help pay down some of the country's debts, a report for the Irish finance ministry said.
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Tim Hetherington, the Oscar-nominated co-director of the 2010 film "Restrepo" was killed Wednesday in Libya amid a battle between rebel and government forces.
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Investors are looking for progress on Nokia's joint venture with Microsoft to build smartphones, but they are also eyeing the other half of Nokia's business -- basic cellphones.
ECB President Trichet has been spending some time at the typewriter, writing a pair of letters to European parliamentarians from Greece and Portugal defending his recent decision to raise interest rates.
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One of the bright spots for BayernLB is Deutsche Kredit Bank, a unit with roots in communist East Germany, which dominates the apartment building and management business in eastern Germany.
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The euro zone remains unattractive when compared to the Czech Republic's current autonomous monetary policy and sovereign currency, says the vice governor of the Czech central bank.
One year after the BP oil spill, Gulf of Mexico energy output is beginning to show the impact of the Obama administration's freeze on deep-water drilling.
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BMW is embracing social media, online documentaries and smartphone apps to create demand for its all-electric vehicles long before customers can buy one.
France and Italy are joining Britain in sending military officers to Libya to help rebel forces organize and to bolster the NATO air campaign that has failed to rout Gadhafi's military.
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The U.K. High Court rejected a bid by British banks to seek a review of rules covering the compensation they must pay customers who were missold payment-protection insurance.
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European stocks rose sharply Wednesday, boosted by strength in the auto and technology sectors, as worries about sovereign debt abated following relatively successful Spanish and Portuguese bond auctions.
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Amazon.com said it will allow readers to borrow Kindle books free at more than 11,000 U.S. libraries, a new twist in the growing battle for market share among electronic tablet makers.
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When the staggering costs of BP PLC's deep-water Gulf of Mexico oil spill became clear, investors feared that small, independent oil and natural-gas producers would have to leave the area. A year later, surprisingly few companies have abandoned their offshore positions.
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Federal firefighters and officials from other federal agencies joined the fight against a massive fire burning 70 miles west of Fort Worth. Meanwhile, a Texas firefighter died from injuries suffered while battling a blaze earlier this month.
Visitors to the Hollywood sign have grown in number in the past two years, sparking a war in the neighborhood over what to do.
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Better an orderly restructuring in Greece than a Lehman re-run.
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In today's pictures, a Christian woman takes part in a baptism in the Jordan River, Italian police investigate a recently found ancient mausoleum, cyclists race across Belgium, reindeer show their strength and more.
Russian Prime Minister Vladimir Putin Wednesday criticized U.S. monetary policy, calling it "hooliganism."
The four-game battle between Real Madrid and and FC Barcelona, a soccer nut's dream come true. Plus: Young pitchers hedge their financial bets; remembering Grete Waitz, and more.
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This five-bedroom home in Salò, Gargano, overlooking Lake Garda, has direct access to the lake through a lemon orchard.