NEW YORK

The mood among consumers hit the skids in November as gasoline prices soared and the housing market downturn threatened to ensnare more Americans, a report showed on Wednesday.A drop in weekly mortgage applications, signs of stress in the labor market and crude oil prices on the cusp of $100 per barrel threw up caution flags on the eve of the critical holiday spending rush.

A growing number of consumers say they plan to spend less on gifts this holiday season than last year, according to a Reuters/Zogby poll, the latest sign of a potentially bleak Christmas for retailers. A total of 38.8 percent of those surveyed said they would spend a little less or a lot less this year, up from 31.1 percent a month ago, according to the poll.

Concerns of a relapse in financial conditions trumped hawkish rhetoric from the minutes of the U.S. Federal Reserve's October rate meeting, keeping market expectations for a near-term interest-rate cut intact. Minutes from the October 30-31 Federal Open Market Committee meeting showed the Fed's decision to cut benchmark rates last month was a close call and an insurance policy against the risk the economy would weaken even more than officials expect.

A bipartisan group of lawmakers including a Democratic presidential hopeful is calling on the makers of video games to review the industry's ratings system.

U.S. President George W. Bush's White House adviser on counterterrorism and homeland security has resigned, he announced on Monday, the latest in an exodus of top aides with 14 months left of his presidency.

Forget Paris, New York and Rome. The real home of gourmet dining is Tokyo, according to the new Michelin restaurant guide unveiled on Monday.

Fannie Mae said it will hold a conference call on Friday to answer accounting questions, after Fortune magazine reported that the U.S. mortgage lender may be camouflaging credit losses.

IBM is staking out a major new source of business helping clients like banks or retailers manage data centers on a par with Internet players such as Google or Microsoft, a top official said on Wednesday.

Stocks fell for a third session on Friday after a disappointing outlook from Qualcomm Inc triggered more weakness in technology shares and helped send the Nasdaq down to its biggest weekly point loss since the September 11, 2001, attacks. The wireless technology developer late Thursday forecast 2008 earnings and revenue below analysts' expectations, a day after Cisco Systems Inc warned about demand from its customers in the banking sector.

Marsh & McLennan Cos, one of the world's largest insurance brokers, said on Thursday quarterly profit soared eleven-fold from a sale of its Putnam Investments unit, but operating earnings missed forecasts.

Morgan Stanley on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion. The Wall Street investment bank said the loss occurred in September and October, and might change before its fiscal quarter ends this month.

New York Attorney General Andrew Cuomo issued subpoenas to mortgage financiers Fannie Mae and Freddie Mac on Wednesday as he seeks information about allegations that Washington Mutual Inc pressured appraisers to inflate home values.

Stocks fell on Wednesday as fear of more credit market turmoil raised worry about prospects for the economy and profits. New York Attorney General Andrew Cuomo said his office was sending subpoenas to government-sponsored mortgage financiers Fannie Mae and Freddie Mac as part of a probe of the home loan industry.

New York Attorney General Andrew Cuomo announced on Wednesday that his office was sending subpoenas to Fannie Mae and Freddie Mac as part of his expanding probe of the home mortgage industry. The subpoenas seek information on the mortgage loans that the two companies purchased from banks, including Washington Mutual, Cuomo said.

New York Attorney General Andrew Cuomo is expected to announce on Wednesday he is examining what role Fannie Mae and Freddie Mac might have played in an alleged scheme to inflate appraisals of home values, sources familiar with the investigation said.

Investors banking on more interest-rate cuts may get some clues about what comes next from Federal Reserve Chairman Ben Bernanke, who testifies before the Joint Economic Committee of Congress on Thursday.

MasterCard Inc said on Wednesday that quarterly earnings rose 63 percent, helped by rising spending volume and the sale of part of its stake in a Brazilian credit and debit card network.

The rapid fall of Stanley O'Neal from the helm of Merrill Lynch & Co Inc has left investors wondering who else in the banking industry may pay a price for the U.S. subprime mortgage crisis.

The dollar fell to fresh lifetime lows versus the euro and a basket of currencies on Friday as investors fretted an anticipated Federal Reserve interest rate cut next week would not be the last.

Australia slapped financial sanctions on Myanmar's generals and their families on Wednesday as supporters of opposition leader Aung San Suu Kyi marked her 12 years in captivity with protests in 12 cities across the world.

They say if you can make it in New York you can make it anywhere. But these days, it seems you haven't really made it unless you have that most prized of status symbols -- your very own page on Wikipedia.