1. New-home sales rise as supply starts to wane 4 hours ago   permalink

Dina ElBoghdady / Wash Post Business

Sales of newly built homes rose to the highest level in more than a year while the supply of these homes dropped to new lows, according to government data released Wednesday.

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CARPE DIEM / Economics Roundtable :   New Home Sales Highest in a Year, Inventory Measure of New Homes Lowest Since 2006

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Latest stock market news from Wall Street Oil rises after supply report   —  LONDON (Reuters) -- Oil rose near $77 a barrel on Wednesday after a report showed U.S. crude and gasoline inventories rose, adding to ample stockpiles in the world's top consumer.

USATODAY.com Money New-home sales up; mortgage rates match record low   —  Sales of new U.S. homes rose more than expected last month to the highest level in more than a year as the housing market shows ...

2. Metals Stocks: Gold pares gains after climbing to a fresh record 42 minutes ago   permalink

MarketWatch.com

Gold futures erased nearly all their gains Thursday after climbing to a record just below $1,200 an ounce, as the dollar rebounded against its rivals, pressuring the precious metal.

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Www.dani2989.com Gold production 2009   —  Historically goldmines are poor in precious yellow metal despite all the difficulties the world production of gold was able to grow. It was multiplied by 4 in one century. However, since 2001 the world production of gold seems to have peaked. Gold production still has declined by 50 tonnes in 2008, despite a price of gold record ounce to 872 ... Luis de Sousa / The Oil Drum :    Peak Gold, Easier to Model than Peak Oil? - Part I Tim / The Mess That Greenspan Made :    Wednesday morning links

Latest stock market news from Wall Street Gold hits record on talk of Indian buying   —  LONDON (Reuters) -- Gold prices hit record highs at $1,180.00 an ounce in Europe on Wednesday, boosted by a report that India may consider buying more bullion from the International Monetary Fund, and the weaker dollar.

FT.com Sri Lanka buys gold from IMF   —  Gold renewed its record-breaking run, driving towards the $1,200-an-ounce level, while oil prices made modest gains ahead of the latest US weekly inventories data The Seattle Times Asian stocks fall as dollar slides; gold at record   —  Asian stock markets dropped Thursday as mostly positive economic news in the U.S. failed to inspire investors and the dollar tumbled to a 14-year low against the Japanese yen.

3. INSIDE WASHINGTON: Lobbyists, health care heavyweights visited White House early and often 1 hour ago   permalink

StarTribune.com Business

WASHINGTON - President Barack Obama's top aides met frequently with lobbyists and health care industry heavyweights as his administration pieced together a national health care overhaul, according to White House visitor records obtained by The Associated Press.

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The Seattle Times INSIDE WASHINGTON: Stream of WH health care visits   —  President Barack Obama's top aides met frequently with lobbyists and health care industry heavyweights as his administration pieced together a national health care overhaul, according to White House visitor records obtained by The Associated Press.

Reuters U.S. will be out of Afghanistan by 2017: White House   —  WASHINGTON (Reuters) - The United States will not be in Afghanistan eight years from now, the White House said on Wednesday, as President Barack Obama prepared to explain to Americans next week why he is expanding the war effort.

Inquirer Business Benefits plans stable amid health-care turbulence tansaed, barron jmcl, for publication As health-care bill debated, employers standing pat   —  With the nation's health-care system in legislative flux, employers are maintaining the status quo when it comes to designing employee benefits. Online / Detnews.com Obama to push for emissions limits at Copenhagen   —  Washington -- President Barack Obama will propose a sweeping global reduction in greenhouse gas emissions when he attends a climate change conference next month. Reuters Uninvited guests crash White House dinner   —  WASHINGTON (Reuters) - The Secret Service is investigating how an uninvited couple was admitted to U.S. President Barack Obama's White House state dinner, penetrating layers of security, a spokesman said on Wednesday. The Seattle Times Obama to vow greenhouse emissions cuts in Denmark   —  Putting his prestige on the line, President Barack Obama will personally commit the U.S. to a goal of substantially cutting greenhouse gases at next month's Copenhagen climate summit. He will insist America is ready to tackle global warming despite resistance in Congress over higher costs for businesses and homeowners.

4. Dollar lurches to 15-month low 35 minutes ago   permalink

Financial Times

12:05 GMT. Gold leapt to another high on Wednesday as the dollar tumbled below significant support levels to hit near 16-month lows. After trading within a tight range for nearly three weeks, the greenback suddenly lurched lower, breaching 74.50 on a trade-weighted basis and decisively cutting through the $1.5050 mark versus the euro.

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Latest Business Headlines Dollar Falls to 14-Year Low Against Yen   —  (AP) The dollar has tumbled to 14-year low against the Japanese yen after the U.S. Federal Reserve indicated it wasn't overly concerned about the dollar's recent decline versus major currencies.

BBC News Dollar falls to a 14-year yen low   —  The dollar hits a 14-year low against the yen as low US interest rates make the currency less attractive to investors.

Yahoo! News Dollar hits 14-year low vs. yen, gold at new high   —  Reuters - The dollar slumped to a 14-year low against the yen on Thursday, helping gold scale another record high, while Asian stocks faltered as investors digested a mixed batch of economic data. FT.com Dollar hits 14-year low on yen   —  The dollar tumbled to its lowest in 14 years against the yen and hit a one-year low on the Swiss franc, tripping sell orders as investors sold on the view its broadbased weakness has further to go MarketWatch.com Currencies: Dollar falls to 14-year low against yen   —  The dollar was mostly down but off broad lows in late Asian trading Friday, after notching a 14-year low against its Japanese counterpart, as investors expect the U.S. Federal Reserve to keep interest rates at current low levels sold the U.S. unit. The Seattle Times Dollar falls to 14-year low vs yen on US outlook   —  The dollar tumbled to 14-year low against the yen Thursday, adding to pressure on Japan's beleaguered exporters, amid indications U.S. interest rates will remain low and the Federal Reserve isn't overly concerned about the dollar's slide.

5. Thanksgiving 2 hours ago   permalink

Brad DeLong / J. Bradford DeLong

Thanksgiving I: Making Light: Thanksgiving : By the President of the United States of America. A Proclamation. The year that is drawing towards its close has been filled with the blessings of fruitful fields and healthful skies. To these bounties, which are so constantly enjoyed that we are prone to forget the source from which they come, others ...

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Ezra Klein The behavioral economics of Thanksgiving   —  This column originally appeared in the Food section . It happens every year. It's not that you resolve to be virtuous on Thanksgiving, just reasonable. Two plates of food, and no more. One piece of pie, and that's enough. But when you're sitting at that table, staring at that food, there is no more self-control. No more reasonable. You stop when ... Megan McArdle / Economics Roundtable :    Holiday Moderation Tyler Cowen / Marginal Revolution :    Assorted links

Meg Marco / The Consumerist 1936 Thanksgiving Camel Ad: Smoke After Each Course!   —  This advertisement for Camel cigarettes appeared in the November 23, 1936 edition of LIFE magazine. It earnestly demands that you smoke a Camel after each course of Thanksgiving dinner -- "for digestion's sake." Some of our favorite quotes from the ad include, "smoke a camel right after the soup," "By all means enjoy a second helping, but before ...

Jon Ogg / BloggingStocks Closing Bell: Economic Catapult for Thanksgiving & Black Friday   —  Filed under: Google (GOOG) , Microsoft (MSFT) , Wal-Mart (WMT) , Target Corp. (TGT) , Garmin Ltd (GRMN) The day before Thanksgiving is always an unusual one. We had a slew of economic data today and that all propelled shares higher than what the pre-market indications were.The largest figure today was that jobless claims finally broke under the ... Tim / The Mess That Greenspan Made The gold price over Thanksgiving   —  Up until last year, the Thanksgiving holiday in the U.S. has been a very favorable two-day period for the gold price as shown below. Of course, lots of things were different last year. Who knows what to expect this year, but, due to New York trading being closed on Thursday and there being only light trading on both Wednesday and Friday, this ... MarketWatch.com Peter Brimelow: An extra Thanksgiving for Linde Equity Report   —  Editor Teal Linde won’t be celebrating Thanksgiving today. But maybe he should -- his Linde Equity Report is having a thanks-worthy year, writes Peter Brimelow. Blogmaster / BizDeansTalk The meaning of Thanksgiving   —  Thanksgiving Day is a harvest festival celebrated primarily in Canada and the United States. Traditionally, it is a time to give thanks for the harvest and express gratitude in general. Tyler Cowen / Marginal Revolution Markets in everything, Thanksgiving day edition   —  Get the dog involved in the festivities with Merrick Thanksgiving Day Dinner Dog Food! 12 cans for $21.99 on Amazon . The description: "The house is filled with love and the wonderful smells of Thanksgiving infiltrate the air. Could it... Money Smart Life / Pfblogs.org Thanksgiving – 24 Daily Thankful Moments   —  Thanksgiving seemed the perfect time for me to look at things that I complain about in my daily life and to instead look for reasons to be thankful for them. What I did was break down a day into 1 hour chunks, look at something I typically complain about in each of those time slots, [...] ... The Seattle Times Thanksgiving last full day in space for shuttle   —  Shuttle Atlantis undocked from the International Space Station early Wednesday, headed home with one astronaut eager to hold his newborn daughter for the first time and another who's been away from her young son since the summer.

6. Dubai asks for debt payment delay 1 hour ago   permalink

BBC News

Dubai's financial health is under scrutiny after a government-owned investment company asks for a delay on repaying its debts.

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DEALBOOK / DealBook Dubai World Asks for Time to Reorganize Debts   —  Dubai will ask creditors of two of its flagship firms for a standstill on debt worth billions of dollars as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate's breakneck growth.

Yahoo! News Dubai seeks debt delay, some units cut to junk   —  Reuters - Dubai said on Wednesday two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate's breakneck growth.

RTÉ Business Dubai seeks debt delay for flagship firms   —  Dubai will ask creditors of two of its flagship firms for a standstill on debt worth billions of dollars as a first step towards restructuring Dubai World. Finance and Business. Latest breaking news Dubai recovery hopes hit by debt 'standstill' call   —  Dubai, the credit-crunched Gulf playground, has asked for a six-month "standstill" on major parts of its debt. Times Online Dubai World and properties built on sand   —  The world’s tallest building will open in Dubai in just five weeks’ time and visitors to its observation deck on the 124th floor will be able to look down on the half-finished buildings and empty construction sites that now litter the Gulf emirate. Alphaville / Pfblogs.org Dubai shock after debt standstill call   —  Dubai on Wednesday shocked investors by asking for a debt standstill at Dubai World, the emirate’s flagship holding company and developer of some famously extravagant real estate projects. The move raised the spectre of default in the Middle East’s trading hub. Dubai’s surprise move angered some investors who had been told for months that ...

7. Plans to force UK banks to reveal high earners 1 hour ago   permalink

RTÉ Business

British banks will be forced to reveal how many of their staff earn more than £1m sterling a year, under recommended reforms of the financial sector to be released later today.

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BBC News Banks 'must reveal £1m earners'   —  The UK's banks should be forced to disclose the number of staff who earn more than �1m, a report concludes.

Finance and Business. Latest breaking news Walker Review wants banks to reveal number of staff earning more than £1m   —  Banks will be forced to publish the number of staff earning more than �1m under Walker Review proposals.

Finance and Business. Latest breaking news Overdraft ruling saves banks £2bn   —  UK banks will be more than �2bn richer as a result of Supreme Court's surprise ruling that their overdraft charges are not unfair. Alphaville / Pfblogs.org UK banks face pressure to reveal pay   —  Big UK banks will have to disclose how many of their UK employees are paid more than £1m under proposals to be published on Thursday by City banker Sir David Walker. Sir David will say that half the bonuses paid to employees should be deferred for three to five years. He will also propose that non-executive directors accept more responsibility ... Alphaville / Pfblogs.org UK banks win overdraft battle   —  Britain’s banks won a surprise victory on overdraft fees on personal bank accounts as the Supreme Court in London ruled on Wednesday that the charges cannot be assessed for fairness by the competition regulator. The ruling shocked many of the 1m customers who want to reclaim bank charges for unauthorised overdrafts that they argued were unfair,..

8. A bump up in stocks as jobless claims fall 1 hour ago   permalink

Inquirer Business

NEW YORK - Stocks climbed yesterday after a drop in weekly unemployment claims to the lowest level of the year and a rise in new-home sales.

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USATODAY.com Money In a mixed bag of economic news, jobless claims fall   —  Three reports delivered mixed news on the economy heading into the Thanksgiving holiday: The good newes is that Unemployment ...

MarketWatch.com Latin American Markets: Mexico stocks, peso higher as U.S. data improve   —  Stocks are buoyed by data indicating that the United States, its biggest export market, remains on course for recovery.

Latest financial news Dow hits new '09 high ahead of holiday   —  Stocks climbed Wednesday in a thinly-traded session ahead of Thanksgiving, as investors welcomed a bigger-than-expected drop in weekly jobless claims.

9. Recall another blow to Toyota's reputation 1 hour ago   permalink

L.A. Times

Some say the Japanese company has sacrificed its legendary quality in recent years to reach the goal of becoming the world's No. 1 automaker. The largest recall in Toyota Motor Corp. history will probably put a serious dent in the Japanese automaker's pocketbook. But the hit to Toyota's image could prove even more damaging.

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Latest Business Headlines Video: Largest Toyota Recall Ever   —  Automaker heavyweight Toyota has announced the largest manufacturer recall in that corporation's history, as over 4 million cars may feature a defective accelerator pedal. Jim Axelrod reports.

Associated Press / Wash Post Business Toyota to replace 4 million accelerator pedals   —  Toyota Motor said Wednesday it will replace accelerator pedals on about 4 million recalled vehicles in the United States because the pedals can get stuck in the floor mats, another blow to the reputation of the world's largest automaker.

Blogs.consumerreports.org Toyota recalls 3.8 million cars to modify gas pedals, carpets, and software   —  Today, Toyota announced a more definitive recall on eight models to address what has been reported as sudden acceleration. Beginning next month, the company will begin modifying the accelerator pedals of certain Toyota Avalon, Camry, Prius, Tundra and Tacoma, and certain Lexus ES 350, IS 250, and IS 350 models to reduce the likelihood that they ... Laura Northrup / The Consumerist :    Toyota Will Shorten Recalled Vehicles' Gas Pedals USATODAY.com Money Toyota to replace gas pedals on 3.8M recalled vehicles   —  Toyota Motor will replace gas pedals on 3.8 million recalled vehicles in the United States to address problems with sudden acceleration ... The Seattle Times Toyota slashes bonuses for managers by 20 percent   —  Toyota is slashing bonus pay for managers as the Japanese automaker tackles a massive recall in the U.S. and deep losses for the second straight fiscal year.

10. Information: Better Press Corps/Journamalism 50 minutes ago   permalink

Delong.typepad.com

The Semi-Daily Journal of an Economist: A Fair, Balanced, Reality-Based, and Multi-Appendaged Look at the World Department of Economics, U.C. Berkeley #3880, Berkeley, CA 94720-3880; 925 708 0467; delong@econ.berkeley.edu.

discussions

Doug Merrill / A Fistful Of Euros » A Fistful Of Euros :   Wasn’t Someone Else Involved?

11. Fed sees risks in low rates policy 35 minutes ago   permalink

Financial Times

Federal Reserve officials have expressed concerns that near-zero interest rates could fuel “excessive risk-taking in financial markets” but believe the possibility of such an outcome is “relatively low”, minutes from its November meeting show.

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Joseph Lazzaro / BloggingStocks Talk about a low interest rate: U.S. Treasury borrows $44 billion for less than 1%   —  Filed under: Federal Reserve , Recession , Financial Crisis With more than $23 trillion pumped into the financial system via monetary and fiscal policy in the last 12 months, there's good reason to fear a rise in inflation, particularly if the U.S. Federal Reserve's quantitative easing is not withdrawn in time. Further, rising inflation ...

Inquirer Business Companies tapping bond market's low rates   —  Philadelphia-area companies have been busy tapping the bond market in the last four weeks, eager to take advantage of low interest rates and investors' open wallets.

USATODAY.com Money Fed credit card tips coming to big screen near you   —  Movie theater audiences can now add another item to the list of things to expect before the film actually begins: Federal Reserve ...

12. From NASA rockets to Tesla's electric car, LA suburb seeks reinvention as a high-tech hub 44 minutes ago   permalink

StarTribune.com Business

DOWNEY, Calif. - This city that once helped send men rocketing into the space now wants to help earth-bound motorists to become more fuel efficient. Downey's City Council has approved an agreement aimed at luring Tesla Motors' electric car manufacturing plant to the former site of a NASA plant that helped develop the Apollo program and the space ...

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USATODAY.com Money GM working with the blind to give electric cars a little noise   —  General Motors will announce today that it's working with one of the largest advocacy organizations for the vision-impaired to ... Latest Business Headlines :    GM's Electric Cars Seek To Make Some Noise

DEALBOOK / DealBook Tesla to Build Model S in a Plant Near Los Angeles   —  Tesla Motors is close to a deal to build an electric car factory at the site of a former N.A.S.A. manufacturing plant in Downey, Calif., a blue-collar city south of Los Angeles.

The Seattle Times LA suburb's rebirth rides on electric car plant   —  This blue-collar suburb on the edge of Los Angeles once helped send men to space. After the collapse of its aerospace industry, its ambitions are now more down-to-earth but still looking toward the future.

13. Small cut in cost of water bills 47 minutes ago   permalink

BBC News

Average water bills in England and Wales will be reduced slightly over the next five years, says regulator Ofwat.

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The Independent Watchdog turns off the tap on water bills   —  Households will see a �3 fall in average water bills to �340 before inflation over the next five years, industry regulator Ofwat said today.

Times Online Water companies told to cut bills by £3 a year   —  Ofwat, the water regulator, today ordered Britain's utility companies to cut the average water bill by a less-than-expected £3 to take the average bill to £340 a year.

Finance and Business. Latest breaking news Britain's households will see water bills cut   —  Britain's households will see their average water bills cut by �3 to �340 within the next five years under a final proposal announced by the regulator.

14. National Express loses rail route 1 hour ago   permalink

BBC News

National Express will have its East Anglia rail franchise terminated three years early, the government says.

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The Independent Now National Express loses East Anglia rail franchise   —  Struggling transport group National Express is to be stripped of its East Anglia rail franchise three years early, the Government said today.

Times Online National Express loses remaining rail franchise   —  National Express is to be stripped of its remaining rail franchise three years early, leaving the troubled transport company with just its bus business.

15. Group says Chinese stimulus-fueled overinvestment could drive up exports, strain trade ties 1 hour ago   permalink

StarTribune.com Business

BEIJING - China's stimulus spending has fueled massive overexpansion in industrial capacity that could drive a surge in low-priced exports amid weak global demand, possibly igniting a protectionist backlash abroad, a European business group warned Thursday.

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By JOE McDONALD / SFGate Group: Chinese overinvestment could strain trade   —  China's stimulus spending has fueled massive overexpansion in industrial capacity that could drive a surge in low-priced exports amid weak global demand, possibly igniting a protectionist backlash abroad, a European business group warned Thursday. Industries... China - Trade - Protectionism - Business - Asia

The Seattle Times Group: Chinese over-investment could strain trade   —  China's stimulus spending has fueled massive overexpansion in steel and other industries that could force companies to boost exports, igniting a protectionist backlash abroad, a European business group warned Thursday.

16. ONS paints picture of slow recovery 35 minutes ago   permalink

Financial Times

Britain’s economy contracted in the third quarter by slightly less than initially reported, but still showed output falling as was widely expected. According to the Office for National Statistics, gross domestic product contracted by 0.3 per cent in the three months to September, less than the 0.4 per cent drop reported in the provisional ...

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Finance and Business. Latest breaking news British economy contracts by 0.3pc in third quarter   —  The British economy shrank by slightly less than first thought in the third quarter but remained in recession, official figures showed on Wednesday .

17. Vietnam shares fall on devaluation move 35 minutes ago   permalink

Financial Times

Hanoi intervenes in effort to end uncertainty

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MarketWatch.com Emerging Markets Report: Vietnam stocks lower after rate hike, devaluation   —  Intraday data provided by Interactive Data Real Time Services, a division of Interactive Data Corp. and subject to terms of use. Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, ...

18. SBA and Treasury’s Small-Business Forum Discusses Access to Capital 3 hours ago   permalink

Smallbiztrends.com

You may have missed the news last week, but on November 18, the Small Business Administration and the Treasury Department held a forum to discuss ideas for increasing small business’s access to capital.

19. Daily Mail beats forecast with 23% profit drop 51 minutes ago   permalink

RTÉ Business

Daily Mail & General Trust said profitability at its UK consumer businesses had sharply improved in the second half.

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DEALBOOK / DealBook London Exchange's First-Half Net Profit Drops 40 Percent   —  The London Stock Exchange posted a 40 percent drop in first-half earnings on Wednesday on the back of lower trading and warned that market conditions remain uncertain.

20. Social Media Activities on Various Mobile Platforms 55 minutes ago   permalink

Paulballen / Paul Allen (the lesser)

via mail.google.com The newest member of our accounting department emailed this to me today. You gotta love it when even your G&A staff are adding value and joining in the strategy discussions. Posted via web from Paul’s posterous

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Paulallen.posterous.com   —  The newest member of our accounting department emailed this to me today. You gotta love it when even your G&A staff are adding value and joining in the strategy discussions. Paulballen / Paul Allen (the lesser) :    Social Media Activities on Various Mobile Platforms