MARKETS / FINANCE

U.S. consumer spending rises, new home sales slump

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U.S. consumer spending rose in November as incomes recorded their biggest gain in six months, but a surprise drop in new home sales to a seven-month low was a reminder that the economic recovery would be bumpy.
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Geely nears Volvo buy, as China ascends in autos

Ford Motor Co said on Wednesday it is nearing an agreement to sell its Volvo Swedish cars unit to China's Geely in a deal that underscores China's arrival as a major force in the global auto industry.
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MGIC shares fall on insurance denial complaint

Shares of MGIC Investment Corp fell nearly 10 percent, a day after the largest U.S. mortgage insurer said two units of Bank of America Corp filed a complaint for declaratory relief against it in the Superior Court of the State of California.
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Fund manager Shaughnessy ignores her index

Maura Shaughnessy, manager of the MFS Utilities fund, has bicycled across New Zealand and Italy and in the Grand Canyon, not to mention completing an annual 192-mile charity ride in Massachusetts 16 times.
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Baby Boomers Beware...Avoid Outdated Résumé Techniques

There are a number of strategies you can employ as a seasoned professional to avoid unnecessarily aging your candidacy on a résumé, while minimizing potentially disqualifying factors that you may or may not have considered, a few of which include...
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India's Tata Tele adds 3.3 mln mobile users in Nov

Tata Teleservices [TATASL.UL], India's sixth-largest mobile operator, said it signed 3.3 million users in November, leading industry additions for the fourth straight month and taking its customer base to 54 million.
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New home sales hit seven-month low in November

Sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, data showed on Wednesday, dealing a blow to the housing market's recovery.
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New home sales hit seven-month low in Nov

Sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, data showed on Wednesday, dealing a blow to the housing market's recovery.
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Nasdaq, S&P 500 rise on tech and materials

The Nasdaq and the S&P 500 rose toward session highs on Wednesday as shares of technology and those of natural resource companies advanced on the back of U.S. dollar weakness, but the Dow traded near breakeven after briefly turning positive.
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Wells Fargo repays government bailout

Wells Fargo & Co , the fourth-largest U.S. bank by assets, on Wednesday said it repaid the $25 billion government bailout it received during the financial crisis, after last week selling $12.25 billion in stock.
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Treasury to seek easing of bailout fund rules

The Treasury Department will ask Congress to ease restrictions on the use of bank bailout funds so that it can use some of the money to encourage more lending to small businesses, a department official said on Wednesday.
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Geely near Volvo buy, sign of China's rise in autos

Ford Motor Co said on Wednesday that it expected to finalize the sale of Volvo to China's Geely in the first half of 2010 in a deal that underlines China's arrival as a major force in the global auto industry.
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Wall Street slips after weak homes sales report

The Dow industrials and the S&P 500 index turned negative after a report showed sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, shaking confidence in recent signs of stabilization in the housing market.
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Personal spending and income rise in November

Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, data showed on Wednesday, boosting hopes of a self-sustaining economic recovery.
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Outage cripples BlackBerry Americas network

North and South American users of Research in Motion Ltd's BlackBerry smartphone suffered widespread delays in message services on Tuesday, just a week after another outage struck the popular corporate network.
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Geithner sees U.S. job growth by spring

Americans looking for work are unlikely to find new jobs before next spring, U.S. Treasury Secretary Timothy Geithner said on Wednesday, though he insisted the economy was on the mend.
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Rostelecom eyes stake in Russian IT firm NVision

Rostelecom (ROS.N), Russia's largest long-distance fixed-line call operator, is to buy a significant stake in IT company NVision Group to diversify its business in the face of stiff competition from mobile phones.
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From science fiction to desktop for telepresence

Telepresence was science fiction in the 50s, a Disneyland attraction in the 60s, and eventually morphed into costly corporate “telepresence rooms” and other high-end systems, which relied on expensive dedicated communications lines.
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Major hurdles cleared in Geely bid for Volvo: source

Ford Motor and Zhejiang Geely have addressed most of the big issues in the pending sale of Ford's Volvo car unit to the Chinese automaker, a source with knowledge of the talks said on Wednesday, paving the way for the biggest acquisition of a foreign automaker by a Chinese company.
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Stock index futures signal extended rally

U.S. stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.3 percent, Dow Jones futures up 0.25 percent and Nasdaq 100 futures up 0.35 percent.

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