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Toll Brothers profit rises 46 percent
(Reuters) - Toll Brothers Inc posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices, indicating that the housing recovery is spreading across the industry.

EU leaders shine spotlight on Amazon, Google over tax policy
BRUSSELS (Reuters) - European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated 1 trillion euros a year the EU loses to tax evasion or avoidance.

'Great Gatsby' director, cast come home with Sydney premiere
SYDNEY (Reuters) - Director Baz Luhrmann brought "The Great Gatsby" home on Wednesday for its Australian premiere, with box-office success for the Sydney-produced film bolstering hopes for the resurgence of the local film industry.

UK regulator says satisfied with Lloyds, RBS capital plans
LONDON (Reuters) - Britain's financial regulator said it had finalized capital requirements for Royal Bank of Scotland and Lloyds Banking Group and was comfortable with their plans.

Iran, Hezbollah increasing support for Assad: Britain's Hague
AMMAN (Reuters) - Iran and its militant Shi'ite Lebanese ally Hezbollah are "propping up" President Bashar al-Assad and giving him increasing support, British Foreign Secretary William Hague said on Wednesday.

Afghanistan's Karzai gives India military equipment 'wish list'
NEW DELHI (Reuters) - Afghan President Hamid Karzai said on Wednesday he had given a "wish list" of military equipment to India during a visit this week, presenting a conundrum for New Delhi as it weighs whether arming the Afghan army is in its interests.

Nerves of steel and hairspray are musts for Cannes red carpet
CANNES (Reuters) - Walking the red carpet of the world's most famous film showcase is a test of nerves for celebrities, not helped by wind, rain and the chaos of hundreds of photographers shouting their names.

Disgraced ex-congressman Weiner announces candidacy for NYC mayor
NEW YORK (Reuters) - Two years after resigning from Congress in a lewd photo scandal, former U.S. Representative Anthony Weiner announced in a video message early on Wednesday he is running for New York City mayor.

CAS reject Murofushi appeal against IOC election block
BERLIN (Reuters) - The Court of Arbitration for Sport have rejected Japanese hammer thrower Koji Murofushi's appeal against the blocking of his election to the International Olympic Committee's Athletes Commission, CAS said on Wednesday.

Mercedes dealer review opens home front in luxury war
FRANKFURT (Reuters) - How many Mercedes staff does it take to sell a car? The answer, in the luxury carmaker's German showrooms, is more than it takes to shift an Audi - just part of the cost gap Daimler wants to close with its premium rivals.

Bank of Japan vows market steps to curb bond turbulence
TOKYO (Reuters) - The Bank of Japan vowed on Wednesday to take necessary steps to reduce volatility in bond markets that has threatened to jeopardize the government's fight to end deflation and revive growth.

Sweden's capital hit by worst riots in years
STOCKHOLM (Reuters) - Hundreds of youths have set fire to cars and attacked police and rescue services in poor immigrant suburbs in three nights of rioting in Stockholm, Sweden's worst disorder in years.

Immune system cancer drugs tipped to be a $35 billion market
LONDON (Reuters) - A new wave of medicines that tap the power of the immune system to fight cancer could become the biggest drug class in history, with potential sales of $35 billion a year.

Mugabe signs Zimbabwe constitution into law
HARARE (Reuters) - Zimbabwe President Robert Mugabe signed a new constitution into law on Wednesday, paving the way for elections later this year.

Entertaining change: Sony to look at activist's spin-off idea
TOKYO (Reuters) - Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking value.

Iran's Ahmadinejad to challenge ally's ban from election
DUBAI (Reuters) - President Mahmoud Ahmadinejad said on Wednesday he would ask Iran's supreme leader to reverse a ban preventing his aide from running in next month's presidential poll, a test of stability after the violent trauma of the 2009 vote.

Impoverished Malawi sells presidential jet for $15 million
LILONGWE (Reuters) - Malawi's luxury presidential jet, bought by late leader Bingu wa Mutharika, has been sold for $15 million to raise cash for the impoverished African country, a government official said on Wednesday.

DBS-Danamon deal hinges on Singapore's invite to Indonesian banks
SINGAPORE/JAKARTA (Reuters) - Southeast Asia's largest bank merger now depends largely on cooperation between Singaporean authorities and Indonesian politicians.

Dollar, German bond yields ease before Bernanke
LONDON (Reuters) - The dollar and benchmark German debt yields eased on Wednesday as expectations hardened that the head of the U.S. central bank will later in the day signal no tapering back of its ultra-loose monetary policy.

SocGen CEO to face shareholders after Rosbank arrest
PARIS (Reuters) - Societe Generale management will face investors later on Wednesday for the first time since the shock arrest of the French bank's top Russian executive on charges of bribery.