Markets manage advance
Stocks struggled higher Thursday, at the end of a bumpy session in which investors mulled weak home sales and mixed corporate news ahead of a key speech from Fed chairman Ben Bernanke in the evening.

Oil jumps $4 after pipeline blast
Crude oil climbed $4.55 in early trading to $95.17 amid fears the pipeline which feeds Canadian crude to refineries in the US Midwest had been crippled ahead of the peak winter season. The pipeline system has the capacity to supply 20 per cent of US crude imports.

Gold closes down below $800 amid dollars gain
Gold futures finished below $800 an ounce on Thursday, as gains in the U.S. dollar squeezed demand for the precious metal.

Bernanke signals financial strains dimming outlook
Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again.

Fed will protect economy; not the individuals
The Federal Reserve will act to protect the wider economy from financial turmoil but not to shelter individual investors from losses, Fed Board Governor Frederic Mishkin said on Thursday.

U.S. Says China Agrees to End Some Sudsidies
Bowing to American pressure on the eve of high-level talks to reduce economic tensions, China agreed today to end a dozen subsidies that promote exports and discourage imports of steel, wood products, information technology and other manufactured goods.

Banks, US near deal to freeze subprime rates
The Bush Administration is close to agreeing on a pact with major financial institutions that would temporarily freeze interest rates on certain subprime loans, the Wall Street Journal reported Friday, citing sources familiar with the negotiations.

Google ready to bid on mobile airwaves
Google Inc was set to announce on Friday it will bid on coveted airwaves to launch a U.S. wireless network, the Wall Street Journal reported on Thursday, citing sources familiar with the matter.

Sprint Nextel Corp (S.N: Quote, Profile, Research) has rejected a $5 billion investment by a group including former chairman Tim Donahue, South Korea's SK Telecom Co Ltd (017670.KS: Quote, Profile, Research) and Providence Equity Partners, a source familiar with the matter said on Thursday.

Dell profits rise; but outlook remains murky
Dell's shares fell more than 10% in after-hours trading, as the maker of PCs and server gear warned that future earnings could be hurt by shifts in the market, though it declined to give an exact forecast.

Sears Holding profit tumbles on declining sales
Sears Holdings Corp.'s quarterly profit tumbled 99% after declining sales at both its Kmart and Sears chains led to steep discounts, and the company said Thursday it doesn't anticipate any significant near-term improvement. Shares dropped to a 2 1/2-year low.

Morgan Stanley's Cruz Replace After Mortgage Losses
Zoe Cruz, co-president of Morgan Stanley and Wall Street's highest-paid female executive, was ousted three weeks after the firm disclosed $3.7 billion of losses on mortgage-related securities at the division she oversaw.

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This entry was posted by David Choi, on Thursday, November 29, 2007. You can leave your response.