U.S.
Stocks, Commodities Climb on Economic Growth Outlook; Dollar, Yen Decline Stocks rose around the world,
commodities advanced and the dollar and the yen fell as sales of
U.S. homes increased more than forecast and speculation grew
that central banks will keep interest rates near record lows.
Existing U.S. Home Sales Jump to Highest Level Since 2007 on Tax Incentive Sales of existing U.S. homes jumped
10 percent in October to the highest level since February 2007
as Americans rushed to take advantage of a tax credit, cheaper
properties and lower mortgage rates.
Morgan Stanley Names Ex-Merrill Manager Moffitt to Securitization Business Morgan Stanley, preparing for a
resurgence in securitized debt sales, hired former Merrill Lynch
& Co. executive David Moffitt to lead the effort within the
firm’s capital markets division.
Caterpillar Beating Komatsu as Dow Industrials Climbs on Dollar Index Drop For the first time since the equity
rally began in March, the biggest U.S. stocks are beating the
smallest as the dollar’s descent sends investors to companies
with the most business in international markets.
Kroszner Says Paul's Audit Legislation Would Curtail Independence of Fed Former Federal Reserve Governor
Randall Kroszner said a measure in Congress to subject the
central bank’s monetary policy to audits would limit its
independence and ability to control inflation.
People's United Financial Agrees to Buy Financial Federal for $738 Million People’s United Financial Inc., the
Connecticut lender that had $2.5 billion earmarked for
acquisitions, agreed to buy Financial Federal Corp. for $738
million in cash and stock to expand in equipment financing.
Palm Director Dutta Is Said to Join Elevation Partners to Raise Tech Fund Palm Inc. director and former EBay
Inc. executive Rajiv Dutta is joining Elevation Partners LP and
will help the private equity firm raise money for a second fund,
according to a person familiar with the decision.
King Pharmaceuticals May Climb as Battered Drug Firms Lure Private Equity King Pharmaceuticals Inc., LifePoint
Hospitals Inc. and Endo Pharmaceuticals Holdings Inc. may be
buyout targets as private-equity firms seek companies battered
by the economy and poised to gain from the U.S. health overhaul.
Origin Agritech Climbs After China Approves Seed Producer's Modified Corn Origin Agritech Ltd., China’s third-
biggest seed producer, surged in Nasdaq trading after the
company won approval to sell the nation’s first genetically
modified corn seed.
Gates Asks U.S. Military to Probe Why Fort Hood Shooter Won Army Promotion The U.S. military’s review of the
Fort Hood shootings must include an assessment of the accused
shooter’s career path and whether he should have been promoted,
according to Defense Secretary Robert Gates.
Chinese Drywall Corroding Metal, Wires in U.S. Homes, Safety Agency Says Sulfur emissions from imported
Chinese drywall is linked to corroding metal and wires in U.S.
homes, and may be causing eye irritation and other health
complaints by homeowners, federal investigators said.
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