A one-page proposal gaining traction in Congress could turn back the clock on Wall Street 10 years, forcing the breakup of banks, including Citigroup Inc.

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Reviving Glass-Steagall Means Escalating ‘War’ on Wall Street

LONDON (Reuters) – Oil rose more than $1 and broke above $55 a barrel on Wednesday, bouncing up from moribund early trade around $54 after data showed U.S. private sector job losses had slowed in April.

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Oil breaks above $55 on jobs data

WASHINGTON/NEW YORK (Reuters) – Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, an industry source familiar with results of a government stress test said late on Tuesday.

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BofA and Citi need capital as stress tests results loom

NEW YORK (Reuters) – Wall Street was poised for a higher open on Wednesday as encouraging signs about the job market offset renewed concern about the health of banks after a source told Reuters stress tests show Bank of America has a $34 billion capital shortfall.

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Wall Street to open higher after encouraging data

NEW YORK (Reuters) – U.S. private sector job losses slowed in April, according to a report by ADP Employer Services on Wednesday, hitting their lowest since November last year and surprising economists who had expected a much worse result.

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U.S. private sector job losses at 5-month low

NEW YORK (Reuters) – U.S. private sector job losses slowed in April, coming in below economists’ expectations, according to a report by ADP Employer Services on Wednesday.

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U.S. private sector job losses slow in April

NEW YORK (Reuters) – Stock index futures turned positive on Wednesday after better-than-expected data on private-sector employment.

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Stock futures turn positive on ADP data

NEW YORK (Reuters) – Marsh & McLennan Cos Inc , the second-largest global insurance broker, posted a first-quarter profit on Wednesday, reversing a year-earlier loss, as lower costs helped offset a decline in revenue.

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Marsh & McLennan posts profit

LONDON (Reuters) – Bank of America needs $34 billion in extra cash, a source familiar with U.S. government stress tests on leading banks told Reuters, unsettling markets and stoking talk of a possible asset sale in China.

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BofA and Citi shares sink on stress test worries

LONDON (Reuters) – Oil held above $54 a barrel on Wednesday, supported by news of an unexpected fall in U.S. crude and gasoline stocks, but gains were limited by persistent uncertainty about any economic recovery.

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Oil steadies above $54 ahead of EIA data

NEW YORK (Reuters) – Stock futures pointed to a lower open on Wednesday on concern about the health of banks after a source said government stress test results show Bank of America needs as much as $34 billion in capital.

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Bank jitters weigh on stock futures

BOSTON/NEW YORK (Reuters) – The Boston Globe’s biggest union reached a tentative accord early on Wednesday with owner New York Times Co to secure the money-losing newspaper’s survival after a month of intense negotiations.

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Boston Globe union, NY Times reach accord

(Reuters) – Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.2-0.4 percent at 0902 GMT, pointing to a lower start on Wall Street.

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Stock index futures point to lower Wall Street open

STOCKHOLM (Reuters) – Sweden’s Saab Automobile, owned by ailing U.S. auto maker General Motors , would welcome talks with Italy’s Fiat about a takeover, Saab said on Wednesday.

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GM’s Saab says would welcome talks with Fiat

ZURICH (Reuters) – Adecco , the world’s biggest staffing firm said on Wednesday it was bracing for challenging conditions in the short term as it posted an 83 percent drop in first-quarter net profit, beating forecasts.

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Adecco says tough market ahead as profit falls