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Wall Street drops on home builder fears, financials

Stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears that a federal home buyer tax credit might be phased out, while commodity shares succumbed to pressure from the higher U.S. dollar.

US STOCKS-Wall Street drops on home builder fears, financials

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U.S. stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears that a federal home buyer tax credit might be phased out, while commodity shares succumbed to pressure from the higher U.S. dollar.

Wall Street sinks on home builder worry, financials

IBTimes Logo
U.S. stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears that a federal home buyer tax credit might be phased out, while commodity shares succumbed to pressure from the higher U.S. dollar.
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GM's CEO has very good outlook on Brazil: report

General Motors said Brazil's car market has a very good outlook and the automaker will reinvest profits from the country's unit locally, Chief Executive Fritz Henderson told newspaper O Estado de S. Paulo in an interview on Monday.
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Obama plans big smart grid announcement

President Barack Obama will announce the largest investment of economic stimulus funds in clean energy during a visit to Florida, an Obama administration official said on Monday.
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How much is too much government debt?

When it comes to borrowing trillions of dollars, it helps to have a golden reputation, a steady income stream, and plenty of rich, trusting friends.
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Wall St falls on financial, commodity shares

U.S. stocks fell on Monday as financial shares tumbled over concern that a federal tax credit for home buyers would expire and as commodity-related shares lost ground on falling oil prices.
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Economic reports point to bumpy recovery

Regional economic reports on Monday suggested the U.S. economy has clambered back to levels associated with the end of recession, but recovery will be patchy and may prove fleeting.
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Toromont results sag, current quarter to fall short

Toromont Industries said on Monday that lower activity in key sectors, including natural gas and construction, had a negative impact on its quarterly profit and revenue, and the company expects more of the same for the current period.
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Caterpillar cuts 2,500 workers, recalls others

Caterpillar Inc, the world's biggest maker of heavy machinery, said on Monday it plans to permanently cut 2,500 workers even as increasing demand will allow it to recall some employees who were laid off during the economic downturn.
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Orexigen obesity drug shows added benefits: studies

Nearly half of patients who completed 56 weeks of treatment with Orexigen Therapeutics Inc's experimental obesity treatment, Contrave, lost at least 10 percent of their weight in a late-stage study and the drug also appeared to help cholesterol and blood sugar levels.
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Senate Democrats close in on health reform votes

Senate Democratic leaders are close to securing enough votes to advance a sweeping healthcare reform backed by President Barack Obama, a top Senate Democrat said on Sunday, adding that it likely would include a national health plan that would allow states the option of dropping out.
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Healthcare system wastes up to $800 billion a year

The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes and fighting fraud, according to a Thomson Reuters report released on Monday.
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Deloitte says 2009 global revenue falls 4.9 pct

Global accounting firm Deloitte Touche Tohmatsu said on Monday revenue at its member firms slipped 4.9 percent in fiscal 2009 to $26.1 billion, hurt by a decline in deal activity in the worldwide economic downturn.

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