(Reuters) - Comcast Corp's quarterly earnings beat Wall Street expectations on a better-than-expected rise in Internet and phone subscribers and advertising sales growth at its NBC Universal joint venture. The No. 1 U.S. cable operator 144,000 high-speed Internet customers and 193,000 phone customers. Analysts at Collins Stewart had forecast additions of 120,000 Internet customers and 190,000 phone customers. But the Philadelphia-based company lost 238,000 basic video customers as it contends with rival phone and satellite companies as well as a weak U.S. economy.

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(Reuters) - The Swiss National Bank announced a shock cut in interest rates and threatened more action to cap a soaring Swiss franc, but was seen fighting a losing battle as investors seek respite from debt crises elsewhere. The SNB said on Wednesday it would cut its target rate to "as close to zero as possible" from an already rock-bottom 0.25 percent, and said it would very significantly increase the supply of francs to the money market over the next few days.

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(Reuters) - Time Warner Inc posted better-than-expected quarterly results, helped by stronger advertising, and ratcheted up its full-year outlook. For the second quarter, the parent of CNN, HBO, Time magazine and Warner Bros studios, reported adjusted earnings per share of 60 cents, ahead of the average analyst forecast of 56 cents, according to Thomson Reuters I/B/E/S.

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(Reuters) - Private equity firm KKR & Co (KKR.N) reported lower-than-expected second-quarter earnings on Wednesday as investment income declined, sending its shares down 4.5 in early trading. Economic net income (ENI), a measure used by private equity firms to report earnings, was $315 million, down 27 percent from $433 million a year earlier.

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(Reuters) - Stocks declined on Tuesday, putting the S&P 500 on track for its longest down streak since October 2008, on worries over the United States' debt and economic outlook. Investors feared a possible downgrade of U.S. credit despite passage by the U.S. House of Representatives Monday of a last-minute compromise to raise the U.S. debt ceiling and avert a U.S. debt default.

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(Reuters) - Congress was poised on Tuesday to grant final approval to a deficit-cutting package that will avert a debt default but may not be enough to prevent a damaging downgrade of the top-notch American credit rating. Just hours before the Treasury's authority to borrow funds runs out, the Senate and President Barack Obama were expected to seal the deal to lift the government's $14.3 trillion debt ceiling enough to last beyond the November 2012 elections.

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(Reuters) - Consumer spending dropped in June for the first time in nearly two years and incomes barely rose, signs the economy lacked momentum as the second quarter drew to a close. The Commerce Department said on Tuesday consumer spending slipped 0.2 percent, the first decline since September 2009, after edging up 0.1 percent in May. Adjusted for inflation, spending was flat after a 0.1 percent decline.

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(Reuters) - Pfizer Inc showed further weakness in its main business of prescription medicines, sending shares down as much as 3.2 percent on concern over future growth as the company prepares to divest better-performing non-pharmaceuticals businesses. The world's largest drugmaker saw sales declines in primary care, specialty care, branded generic and oncology medicines during the second quarter, although drug sales grew in fast-growing emerging markets.

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(Reuters) - A worsening euro zone debt crisis may ultimately force the bloc to expand its 440 billion euro ($625 billion) bailout fund, despite political opposition in key contributing countries, some officials and analysts say. An emergency summit of euro zone leaders last month agreed to let the fund, the European Financial Stability Facility, deploy its money in new ways to fight the crisis. But it did not take a major step for which investors were hoping: give the EFSF more firepower.

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(Reuters) - Emboldened by a favorable court ruling, JPMorgan Chase & Co (JPM.N) and UBS AG (UBSN.VX) urged a federal judge to throw out many claims by the bankruptcy trustee seeking to recover billions of dollars for victims of Bernard Madoff's Ponzi scheme. The requests came after U.S. District Judge Jed Rakoff in Manhattan, in a case against HSBC Holdings Plc (HSBA.L), last Thursday said the trustee Irving Picard exceeded his power in suing third parties such as banks on behalf of former customers of Bernard L. Madoff Investment Securities LLC.

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