Daily Wrap Up - Nov 2

Speeding Up Climate Reform; Fed Weighs Economy; U.S.-China Currency Stake

on November 02 2009 10:57 PM

Senate panel tries bypassing climate bill boycott

Democrats who control a key U.S. Senate panel said they would begin debating a climate change bill on Tuesday, despite a planned boycott by minority Republicans who are demanding more study of the issue. Read Full Article here.

What the Fed is considering at its November meeting

U.S. Federal Reserve officials meeting this week must weigh improving economic data against the risk, reinforced by a persistently weak job market, that a burgeoning recovery remains on shaky ground. Read Full Article here.

Q+A: What are the stakes in the U.S.-China yuan tussle?

China's reluctance to let markets play a freer hand in setting the value of the yuan, also called the renminbi, is a festering irritant that both the United States and China want to keep from getting out of hand. Read Full Article here.

Rough road ahead for financial reform in Senate

The top Republican on the U.S. Senate Banking Committee wants bipartisan financial reform, but sees key issues as unsettled and opposes a new consumer protection watchdog, an aide told Reuters on Monday. Read Full Article here.

GM IPO talk now dumbest thing in world: York

Talk of an initial public offering for General Motors Co by the second half of next year is so premature as to border on the ludicrous, a former director of the largest U.S. automaker said on Monday. Read Full Article here.

Manufacturing, pending home sales fuel recovery hopes

U.S. manufacturing activity hit its highest level in 3-1/2 years last month and pending home sales contracts unexpectedly surged in September, allaying fears the economy's budding recovery would falter. Read Full Article here.

Online holiday sales seen up 8 percent

U.S. online sales are expected to rise 8 percent this holiday season, with mass market retailers who can offer discounts performing best, according to Forrester Research Inc. Read Full Article here.

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