Wall St edges higher as Greece draws up bailout terms

NEW YORK (Reuters) - Stocks traded edged higher on Tuesday as investors awaited the outcome of discussions on a bailout package for Greece that would help the country avoid a chaotic default.

Greece drafts bailout text for parties as talks inch forward

ATHENS (Reuters) - Greece's government is preparing a document with a list of painful reforms needed to clinch a new financing package, a government official said on Tuesday, moving Athens one step closer to a deal needed to avoid a chaotic debt default.

Coca-Cola beats Street, eyes cost savings

NEW YORK (Reuters) - Coca-Cola Co reported better-than-expected quarterly results and announced a new cost-savings program on Tuesday that it will use to boost its brands and mitigate higher commodity costs.

Glencore-Xstrata deal meets shareholder opposition

LONDON (Reuters) - At least two top 10 shareholders in miner Xstrata plan to vote against a takeover by commodities trader Glencore, threatening the creation of a powerhouse spanning mining, agriculture and trading.

Bernanke repeats vow to shield U.S. from Europe fallout

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.

Fidelity money fund clients react negatively to SEC proposals

BOSTON (Reuters) - Fidelity Investments, the largest money-market fund manager, recently warned U.S. regulators that more than half of its money fund clients would move all or some of their assets out of the investments if the net asset value of the funds was allowed to fluctuate.

Job openings rise to 3.4 million in December

WASHINGTON (Reuters) - The number of jobs waiting to be filled rose in December as employers tried to ramp up hiring in factories, retail and business services, the government said on Tuesday.

CalSTRS invests $500 million in infrastructure

(Reuters) - The California State Teachers' Retirement System, the second-largest public pension fund, has made what it called one of the largest single U.S. fund management commitments to infrastructure, investing up to $500 million.

BlackRock's top lawyer to leave company

(Reuters) - The top lawyer at BlackRock Inc is leaving the company, a spokeswoman at the global asset management firm confirmed.

Watchdogs to drag shadow banks into the light

LONDON (Reuters) - Beyond the reach of regulators, and about half the size of the world's banking industry, a thriving breed of "shadow banks" is emerging that could trigger the next chapter in the global financial crisis.