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November 24, 2009

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Wall St weighed by GDP, home prices data (2009-11-24) NEW YORK (Reuters) - U.S. stocks fell on Tuesday, a day after the Dow hit a 13-month high, after data showed the economy grew in the third quarter, but at a slower rate than expected.

U.S. Q3 economic growth revised down, house prices up (2009-11-24) WASHINGTON (Reuters) - The U.S. economy grew more slowly than first thought in the third quarter, but house prices rose for the fifth month in September and U.S. consumer confidence was up in November in data published on Thursday, suggesting a slow economic recovery is still intact.

FDIC fund falls into the red, Bair urges lending (2009-11-24) WASHINGTON (Reuters) - The fund used to safeguard U.S. bank deposits dropped to a negative balance of $8.2 billion in the third quarter, the first shortfall since 1992, the Federal Deposit Insurance Corp said on Tuesday.

Rajaratnam gives detailed denial of insider charges (2009-11-24) NEW YORK (Reuters) - Galleon Group hedge fund founder Raj Rajaratnam, accused in one of the biggest insider trading cases ever, on Tuesday gave a detailed denial of the charges and said government wiretaps violated his constitutional rights.

Fed asks U.S. banks to submit TARP repayment plans (2009-11-24) WASHINGTON (Reuters) - The U.S. Federal Reserve this month asked banks that were part of "stress tests" conducted earlier this year that have not yet repaid money injected under the Troubled Asset Relief Program (TARP) to submit plans to do so, a person familiar with the situation said on Tuesday.

Saab sale for GM collapses; buyer backs out

(2009-11-24) DETROIT (Reuters) - A deal by General Motors Co to sell its Saab brand collapsed on Tuesday when the buyer pulled out in a move that threatens the Swedish luxury brand with closure.

EU drops antitrust case against Qualcomm (2009-11-24) BRUSSELS/NEW YORK (Reuters) - The European Commission closed antitrust proceedings against Qualcomm as big technology companies dropped their four-year old complaints against the U.S. mobile chip supplier.

Heinz, Hormel optimistic about sales in 2010

(2009-11-24) CHICAGO (Reuters) - U.S. food makers H.J. Heinz Co and Hormel Foods Corp said they expect sales to rise in the coming months as consumers stick to more frugal habits such as eating meals at home instead of going out.