Morgan Stanley (MS) has named Deutsche Bank AG (DB, DBK.XE) banker Eric Heaton president of its institutional and retail bank, reflecting the securities firm's latest efforts to build out its banking capabilities.

Ratings agency Standard & Poor's has upgraded its credit outlook for BP PLC (BP.LN), citing the U.K. oil major's improving financial position and the diminishing impact of costs stemming from 2010's Gulf of Mexico oil spill.

U.S. stocks opened a touch lower Wednesday as a cautious outlook from Intel and renewed concerns in Spain put investors in a cautious mood.

The markets shook off morning losses and turned higher, led my a strong performance among technology and industrial stocks.

Barnes & Noble Inc. (BKS) is hoping a $50 gift card will prompt students to take the Nook back to school.

The top executive of Knight Capital Group Inc. (KCG) said the trading firm continues to weigh its legal options after it lost $35.4 million due to Nasdaq OMX Group Inc.'s (NDAQ) bungling of the Facebook Inc. (FB) initial public offering.

Crude oil exports of top oil exporter Saudi Arabia rose to 7.668 million barrels a day in May, from 7.583 million barrels a day a month earlier, despite a drop in the kingdom's output, official data showed Wednesday Oil production in the Arab world's largest economy fell in May to 9.807 million

In its most prescriptive recommendations to date, the International Monetary Fund urged euro-area policymakers Wednesday to act immediately to stem the relentless spread of the debt crisis across the currency bloc.

U.K. Chancellor of the Exchequer George Osborne will announce Wednesday his latest plans to stimulate the recession-hit U.K. economy that will see government guarantees provided on around GBP50 billion ($78 billion) of private investment in infrastructure projects and exports.