European stocks were mostly flat on Wednesday morning as an appetite for defensive shares such as GlaxoSmithKline (GSK.L) offset losses in energy shares, with Total (TOTF.PA) extending this week's fall to 8 percent after it warned it could take six months to halt the flow of a leak from a well on its Elgin gas and condensate field in the UK North Sea.

Bank of America Corp (BAC.N) is looking to create an international advisory board that could help steer chief executive officer Brian Moynihan's overseas strategy, according to sources familiar with the matter.

Senior executives within Goldman Sachs (GS.N) have talked about splitting the roles of chief executive and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labor union pension fund.

Goldman Sachs Group Inc's (GS.N) first-quarter earnings are expected to benefit from the increased use of derivatives by European clients seeking ways to hedge risk, according to an internal report seen by Reuters.

BATS Global Markets Inc stripped Chief Executive Joe Ratterman of the chairman's role on Tuesday, days after the third-biggest U.S. exchange operator's botched initial public offering.

Canadian miner Goldcorp (G.TO) would consider acquiring early-stage gold projects to boost its reserve base, but the country's second largest gold miner has no real interest in buying producing assets that generate little value for its shareholders, Chief Executive Chuck Jeannes said on Tuesday.

Wells Fargo & Co (WFC.N) was ordered to face a class-action lawsuit in Minnesota federal court by investors who accuse the bank of improperly touting a lending program as safe when in fact it was risky.

Apple Inc (AAPL.O) will email all Australian buyers of its new iPad to offer them a refund, a lawyer for the company said on Wednesday, after the nation's consumer watchdog accused it of misleading advertising over a key aspect of the product.

PVH Corp (PVH.N) reported a better than expected quarterly profit on strong sales of its Tommy Hilfiger and Calvin Klein brands, but the clothing maker forecast first-quarter earnings below market estimates citing higher product costs.

Sealy Corp (ZZ.N) posted a surprise first-quarter profit, as strong demand for its new line of higher-priced mattresses partially offset a drop in sales volumes in the middle and lower price points, sending its shares up 16 percent after the bell.

Robbins & Myers Inc's (RBN.N) quarterly results topped market expectations, as the maker of oil and gas drilling equipment gained from strong demand, sending its shares up 8 percent after the bell.

On the macro economic front, investors awaited February durable goods orders at 1230 GMT. Economists in a Reuters survey were expecting a 3 percent rise in orders compared with a 3.7 percent drop in January.

U.S. stocks retreated from near four-year peaks on Tuesday, while a batch of large-cap shares hit new highs, with the help of portfolio managers snapping up top performers near the end of the quarter.

The Dow Jones industrial average .DJI shed 43.90 points, or 0.33 percent, to close at 13,197.73. The Standard & Poor's 500 Index .SPX dropped 3.99 points, or 0.28 percent, to 1,412.52. The Nasdaq Composite Index .IXIC dipped 2.22 points, or 0.07 percent, to 3,120.35.

(Reporting by Blaise Robinson; Editing by Greg Mahlich)

• A Permanent Economic Emergency