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Stocks gain as hope rises for stimulus plan
(Reuters)
Reuters - Stocks gained on Tuesday as bets rose on the likelihood of a government stimulus package after the release of minutes from the last Fed policy meeting painted a dismal picture of the U.S. economy.
Home sales tumble to 7-year low
(Reuters)
Reuters - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.
German tycoon Adolf Merckle commits suicide
(Reuters)
Reuters - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.
N.Y. judge restrains Merkin funds in Madoff lawsuit
(Reuters)
Reuters - A judge on Tuesday extended an order barring well-known hedge fund founder Ezra Merkin from withdrawing or liquidating millions of dollars in his funds, which invested with accused swindler Bernard Madoff.
November factory orders drop more than expected
(Reuters)
Reuters - New orders received by U.S. factories plunged a much-greater-than-expected 4.6 percent in November, the fourth straight monthly decline and a sign the sharp drop in manufacturing is deepening the recession, a government report showed on Tuesday.
Brazil stocks up in early trading
(AP)
AP - Brazil's stocks rose in early trading, with the Ibovespa stock index up 1.1 percent at 41,956 an hour into the session.
Madoff scandal, SEC role under scrutiny
(AP)
AP - Two more months of mortgage payments and retiree Allan Goldstein says he'll be broke, just another victim in what may be the biggest Ponzi scheme in history.
British house prices sink by record amount in 2008
(AP)
AP - House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday.
Talbots shares jump after it secures committed credit
(Reuters)
Reuters - Talbots Inc shares jumped 24 percent on Tuesday, a day after the women's apparel retailer said it entered into agreements with three banks to secure a total $150 million in committed lines of credit.