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ECB's Stark: Crisis cure needed to avoid disaster

An urgent solution to the euro zone debt crisis needs to be found otherwise there will be widespread macroeconomic and financial disaster, Juergen Stark, one of the European Central Bank's top policymakers, warned on Friday.
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U.S., Canada to set security deal at White House

U.S., Canada to set security deal at White House

The United States and Canada are scheduled to announce a new security agreement next Wednesday designed to lower obstacles between the two nations while ensuring the perimeter around them is secure.
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GM explores Volt battery design changes

December 2 - General Motors Co is exploring design changes to the Chevrolet Volt battery to address issues raised after federal safety officials opened a probe into the plug-in electric car, a top executive said on Friday.
us rail traffic

U.S. Rail Volume Post Continued Gains, Led by Sectors Including Automobile, Petroleum Products: AAR

U.S. rail traffic, a snapshot of the weekly economic well-being, continued to climb in late November. During the week ending Nov. 26, U.S. railroads originated 265,304 carloads, up 4 percent compared with the same week last year, while intermodal volume for the week totaled 190,866 trailers and containers, up 3.7 percent compared with the year-ago-period, the Association of American Railroads reported.
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Office Cleaners Authorize Potential Strike

Several thousand unionized office cleaners gathered at the Sheraton in Midtown Manhattan on Thursday. They voted to authorize a strike when their contract expires in December.
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Loonie ends weaker on soft jobs data, euro fears

The Canadian dollar ended weaker against the U.S. currency on Friday, following the euro lower, as worries about Europe's debt crisis and disappointing domestic employment data ended a four-day winning streak.
Traders work on the floor of the New York Stock Exchange

Global Bank Stocks Rally to Best Week of the Year

Bank stocks finished up one of the best-performing weeks of the year Friday, as a global coordinated stimulus by the world's top central bankers announced Wednesday injected some badly needed liquidity into the credit markets and signaled a willingness for future intervention if the going gets tougher.
TSX little changed, Kinross drop offsets China

TSX climbs on banks, Europe hopes

Toronto's main stock index was higher on Friday morning, on track to post its biggest weekly gain in more than two years, pushed up by strong bank earnings, encouraging U.S. jobs data and talk of more action to ease Europe's debt.
Canada sees U.S. approving Keystone pipeline

Expanding oil exports top priority: Canadian minister

Canada believes the United States will ultimately approve TransCanada's proposed Keystone XL pipeline, which Washington put on hold last month for more than a year, Natural Resources Minister Joe Oliver said on Friday.
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Wall Street posts best week since 2009

Stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low.
Safe boxes are pictured in the vault of a Swiss bank in Basel

Does BASEL Stand for "Banks Acting Silly to Enhance Liquidity?"

As banks around the world race to satisfy international capital requirements, they are going through a veritable fire sale, getting rid of non-core businesses no matter how much they will fetch. Beyond that, they are engaging in some odd transactions, including a substantial amount of balance sheet engineering.
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ECB's Stark-Crisis cure needed to avoid disaster

An urgent solution to the euro zone debt crisis needs to be found otherwise there will be widespread macroeconomic and financial disaster, one of the European Central Bank's top policymakers Juergen Stark warned on Friday.
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Bishop Eddie Long's Wife Files for Divorce, Then Retracts

On Thursday, Vanessa Long filed for divorce from her husband, Bishop Eddie Long -- the anti-gay preacher of the New Birth Missionary Baptist Church who was accused of coercing four men into having sexual activity with him. She even released a statement about the filing. But now she's planning to remain married.

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