Reuters – Efforts by Dubai World to restructure about $26 billion in debt out of the estimated $59 billion it owes reassured investors that the emirate’s debt problems can be contained, helping global markets edge higher on Tuesday.
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Reuters – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed “short sales” of homes and other loan modification alternatives to stem a rising tide of foreclosures.
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Reuters – General Electric Co and Vivendi SA have agreed in principle to a deal in which GE would buy the French company’s 20 percent stake in NBC Universal for $5.8 billion, a source familiar with the matter said on Monday, paving the way for Comcast Corp’s proposed joint venture with GE.
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Reuters – The dollar recovered early losses on Tuesday as the yen came under pressure ahead of a special central bank meeting while Asian shares were steady as investors paused after Monday’s bounce.
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Reuters – When U.S. retail chains report November sales this week, investors will learn whether they have gone far enough to protect profits against a weak start to the holiday shopping season.
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Reuters – Geely, the Chinese carmaker tagged as the preferred bidder for Ford Motor’s Volvo unit, is seeking at least $1 billion in loans from Chinese banks to finance its $1.8 billion bid, sources said on Tuesday.
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AP – European and U.S. stock markets fell Monday amid concerns about the start of the Christmas shopping season in the U.S. and despite relief over the pledge from the United Arab Emirates’ central bank to back lenders exposed to Dubai’s debt problems.
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AP – Chelsea Clinton, the 29-year old daughter of former President Bill Clinton and Secretary of State Hillary Rodham Clinton, has become engaged to her longtime boyfriend, investment banker Marc Mezvinsky.
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Reuters – Dubai’s government said on Monday it was not responsible for the debts of its flagship conglomerate, offering little clarity on a plan to delay billions in debt repayments that has rattled world markets.
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Reuters – Manufacturing in parts of the United States was picking up steam, data showed on Monday, but jobs were lagging the recovery and consumers remained cautious, economists said.
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