12/6/ 2007
Stock rallies, day 2
Stocks rallied Thursday afternoon, gaining for the second session in a row, as investors welcomed the White House's plan to help troubled homeowners and geared up for Friday's jobs report and next week's Fed policy meeting.

Rio Chief Claims BHP Proposal "Dead in the Water"
Rio Tinto Ltd/Plc (RIO.AX: Quote, Profile, Research) (RIO.L: Quote, Profile, Research) Chief Executive Tom Albanese said on Friday BHP Billiton Ltd/Plc's (BHP.AX: Quote, Profile, Research) (BLT.L: Quote, Profile, Research) $140 billion takeover proposal to assemble super mining house was now "dead in the water."

Palm warns of loss
Palm Inc (PALM.O: Quote, Profile, Research) warned on Thursday that it will post a loss for the quarter ended November 30 as revenue fell short due to a product delay, driving the company's shares down 16.5 percent.

12/7/2007
Wall St. wary ahead of Fed's Meeting
Stocks struggled for direction Friday as investors welcomed a mostly upbeat November jobs report and geared up for an expected interest rate cut from the Federal Reserve.

Wall St. Ends Flat on oil and jobs; eyes on Fed
Stocks ended little changed on Friday as a sharp drop in oil prices and signs of resiliency in the labor market offset concerns that tighter credit is hurting consumer spending.

S&P Cuts Capital Notes of 13 SIVs, More Cuts Possible
Standard & Poor's said it lowered credit ratings on capital notes of 13 structured investment vehicles and placed debt of 18 SIVs on negative outlook as the funds struggle to finance themselves.

U.S. sees job growth, but rate cut still likely
The number of jobs in the United States swelled more than expected last month. The favorable economic data, however, probably will not enough to dissuade the Federal Reserve from cutting interest rates Tuesday.

Oil and gas companies' expense seen up: Lehman
Global spending on exploration and production by oil and natural gas companies is expected to rise more than 11 percent to $369 billion in 2008, fueled by investment outside North America, according to a survey by Lehman Brothers released on Friday.

Chrysler to recall more than 575,000 vehicles
Chrysler LLC said on Friday it would recall 575,417 vehicles as long-term wear on the gear shift assembly could cause them to shift out of park without the key in the ignition.

ConocoPhilips to set 13% spending hike in 2008
ConocoPhillips (COP.N: Quote, Profile, Research), the third-largest U.S. oil company, said on Friday its 2008 capital spending would total $15.3 billion, an increase of about 13 percent from the top end of its expected 2007 budget.

New IMF chief plans to cut up to 15 percent of staff
The new head of the International Monetary Fund plans to cut up to 15 percent of the organization's staff in an attempt to stabilize the fund's finances as demand for its loans drops, the Wall Street Journal reported on Friday.

CompUSA to close after holidays
CompUSA, the computer retailer that Mexican billionaire Carlos Slim owned since 2000, will shut its doors after 23 years, succumbing to competition from Best Buy Co. and Wal-Mart Stores Inc.

Citigroup is close to picking a new CEO
Citigroup is scheduled to hold its year-end board meetings early next week, where its directors could decide on a new chief executive, according to people briefed on the search process.

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12/4/2007 (Tuesday)

Oil settles higher waiting for OPEC
Oil prices crept back up over $88 a barrel Tuesday as traders reacted to mixed signals on whether OPEC would decide to increase production during its meeting this week.


12/5/2007 (Wednesday)Stocks jump on Fed hopes
Stocks rallied Wednesday, bouncing after a two-session slide, on strong economic news and bets that the Federal Reserve will cut interest rates again at its policy meeting next week.

Oil soars after OPEC keeps the supply unchanged
OPEC dashed hopes that it would step up production at its meeting Wednesday, news that sent oil prices shooting back towards the $90 a barrel mark in early trading.

Economic Data Boosts NYSE
A slew of positive economic news gave a boost to the NYSE on Wednesday, with the S&P 500 and the Dow industrials each racking up a 1.5% gain. The NYSE composite jumped 1.4%.

Chrysler Chief sees $1.6 bln losses this year
Chrysler LLC Chief Executive Robert Nardelli expects the automaker to lose $1.6 billion this year, the Wall Street Journal reported in its online edition, citing sources familiar with the matter.

President to outline 5-year rate freeze plan
President George W. Bush is expected to outline on Thursday a plan to freeze mortgage rates for five years for many U.S. homeowners facing sharp increases in their monthly payments, industry sources said on Wednesday.

Private sector adds 189,000 jobs in Nov
Private employers added 189,000 jobs in November, a report by a private employment service said on Wednesday, much higher than market expectations and the biggest monthly increase in a year.

UBS, Goldman leads as Asia banking fee up 36 percent
Investment banking fees in the Asia Pacific region rose 36 percent to a record $11.7 billion so far this year -- roughly the gross domestic product of oil-rich Brunei -- with UBS (UBSN.VX: Quote, Profile, Research) and Goldman Sachs (GS.N: Quote, Profile, Research) the top earners.

Fannie Mae to sell $7 bln stock
Fannie Mae (FNM.N: Quote, Profile, Research) said on Tuesday it will sell $7 billion of preferred stock and slash its dividend 30 percent to shore up its capital base through 2008 as the U.S. housing slump worsens.

Ex-Morgan Stanley analysts and her husband get 18 months
A former Morgan Stanley financial analyst and her husband, an ex-hedge fund analyst at ING, were sentenced to a year and half each on Tuesday for insider trading.

Exxon Chief awarded close to $20 mln in bonus
Exxon Mobil Corp (XOM.N: Quote, Profile, Research) on Tuesday said it gave Chief Executive Rex Tillerson a cash bonus and restricted stock currently valued at close to $20 million under its short-term incentive plan for 2007.

Google looks to ad partners beyond DoubleClick
Google Inc is looking at more advertising partners outside its proposed purchase of DoubleClick Ltd and sees a move to a single system for selling ads across media taking up to five years, a top executive said on Tuesday.

Traders See 50% Odds Fed Will Cut Rate by Half Point
Odds the Federal Reserve will cut interest rates by half a point next week surpassed 50 percent for the first time, according to trading in futures contracts, reflecting concern banks face more losses on securities tied to subprime loans.

Merrill hires Financial chief
The new chief executive of Merrill Lynch, John A. Thain, made his first big move at the brokerage firm yesterday by hiring his former finance chief at the New York Stock Exchange.

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Wall St. struggles higher
Stocks were mixed Monday afternoon as investors welcomed news that the White House is taking steps to aid subprime mortgage holders, but held back after last week's rally and ahead of key economic news due later this week.

Fedex chief sees U.S. slowdown, but not steep decline
The chief executive of package delivery company FedEx Corp (FDX.N: Quote, Profile, Research) said on Sunday that although the U.S. economy has slowed down, he does not think it will go into a "precipitous decline."

Dollar falls on Fed speak, economic data
The dollar fell back against major currencies on Monday, after comments by a Federal Reserve official further cemented expectations that the central bank will cut interest rates next week.

Crude Oil closes to five-week low before OPEC meeting
Crude oil futures declined to their lowest in more than five weeks before an OPEC production meeting and amid signs of an economic slowdown in the U.S., the world's largest energy user.

Gold ends higher after last week's steep fall
Gold futures closed with gains on Monday, rebounding from their steep decline last week, as weakness in the dollar boosted demand for the precious metal.

Li-Ka Shing foundation buys Facebook stake
Online social network Facebook.com has closed a $60 million investment by Li Ka-shing through the billionaire Hong Kong tycoon's foundation, a source familiar with the deal confirmed on Monday.

Buffet to buy $2.1 billion in TXU junk bonds from Goldman
Warren Buffett's Berkshire Hathaway (BRKa.N: Quote, Profile, Research) is paying $2.1 billion to buy TXU junk bonds from Goldman Sachs (GS.N: Quote, Profile, Research), CNBC reported on Monday.

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OPEC to weight a modest oil supply boost
OPEC will weigh a modest boost to oil supply at a meeting on Wednesday, but a $10 retreat last week in crude prices from a record high near $100 a barrel could tip the balance away from pumping more.

OPEC says oil supply is adequate as prices retreat
OPEC members, the producers of more than 40 percent of the world's oil, say they are pumping enough to meet global demand and an increase would do little to ease prices.

Mortgage industry hashes out rate-freeze plan
Mortgage industry executives worked on Saturday to hammer out details of a homeowner rescue plan that would freeze interest rates on some U.S. subprime mortgages for up to seven years, but questions remained over how to avoid investor lawsuits and other legal challenges.

Starbucks plan 2nd farm support center in Rwanda
Starbucks Corp (SBUX.O: Quote, Profile, Research) said on Saturday it would open a support centre for coffee farmers in Rwanda, the second in Africa after Ethiopia.

Dell to form venture with WPP to handle ads
U.S. computer manufacturer Dell Inc (DELL.O: Quote, Profile, Research) said on Sunday it will invest $4.5 billion in marketing over three years as part of an agreement to form a new agency with Britain's WPP (WPP.L: Quote, Profile, Research) that will handle all of the company's advertising and marketing.

IRS considers delaying start of tax season
The Internal Revenue Service is looking hard at whether to delay the start of tax-filing season if Congress, in the next two weeks, doesn't pass a law exempting millions of people from the Alternative Minimum Tax.

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