U.S. economy growth revised down again
The third government estimate of the U.S. Gross Domestic Product in the Third Quarter was lowered to an annual rate of 2.2 percent on Tuesday from an initial 3.5 percent growth estimate on October 29. Read Full Article here.
Existing home sales up 7.4 percent in November
Sales of previously owned homes in the United States surged last month as prices continued to fall and buyers rushed to take advantage of a popular tax credit, the National Association of Realtors (NAR) said on Tuesday. Read Full Article here.
State Street buys Intesa services unit for $2.5 billion
State Street has agreed to buy the securities services activities of Intesa Sanpaolo for about 1.75 billion euros ($2.50 billion), boosting the Italian bank's key capital ratio by near a fifth of its target. Read Full Article here.
U.K. competition watchdog changes view, OK's Ticketmaster, Live Nation merger
The U.K.'s competition regulator reversed its initial findings on the merger of Ticketmaster and Live Nation, saying it considered new evidence and arguments to conclude that the combined company will not result in a substantial lessening of competition in the markets for live music ticket retailing, promotion or venues. Read Full Article here.
Greek credit rating downgraded faces long-term challenges: Moody's
Moody's Investors Service downgraded Greece's government bond ratings to A2 from A1 on Tuesday, noting a negative outlook for the nation unless the government can follow through on its plan by increasing tax revenues and/or reining in expenditure. Read Full Article here.
China CNR raises $2.04 billion in Shanghai IPO
China CNR Corp, one of the country's two big train makers, has priced its A-share initial public offering at 5.56 yuan a share, the top of an indicated range, raising 13.9 billion yuan ($2.04 billion). Read Full Article here.
AIG pauses plan for Chartis IPO: report
U.S. insurer American International Group Inc (AIG.N) has paused its plan for an initial public offering of Chartis Inc, its global property-casualty division, Bloomberg reported. Read Full Article here.