The day ahead: Wednesday


Light on economic data, investors will look to a smattering of quarterly results and the UBS tax case for direction. Below are the key points for the day:

    Deere & Co, the world’s largest maker of tractors and harvesters, reports second-quarter earnings. Results from rivals show farmers in North America holding back on equipment purchases despite strong crop prices because of economic uncertainty. Retailers reporting include warehouse club operator BJ’s Wholesale Club and specialty store operator Limited Brands, giving investors another cross-section view of the consumer’s willingness to open up her wallet. More details of a landmark settlement of the U.S. tax case against UBS could emerge, with the Swiss cabinet having held its first regular meeting following the summer recess, industry insiders said.

How has the credit crisis affected you?


The demise of Lehman Brothers a year ago sparked a collapse in financial market confidence and set of a series of reactions that have spread hardship into the four corners of the globe.

Reuters News has charted the key events and their impact in “Times of Crisis” — a major new multimedia production on (See it here.)

Mining gold in Russia’s remote Chukotka region


Chukotka, a region revived in the last eight years by the $2.5 billion investment of Chelsea soccer club owner Roman Abramovich, produced a fifth of Russia’s gold in the first half of this year. Gold is the region’s passport to growth after Abramovich quit as governor last July.

Only South Africa holds more gold than Russia, but Moscow’s fragmented industry has struggled to access vast reserves in its inhospitable Far East. The region was first mined in the 1930s by prisoners of the Gulags set up by Soviet leader Josef Stalin.

Graphic: Iran protests


Thousands of supporters of Iran’s defeated presidential candidate Mirhossein Mousavi marched in Tehran on Tuesday following a disputed poll prompting the biggest street protests since the 1979 Islamic revolution.

Click here for full coverage of the election aftermath.