U.S. Jobless Rate Jumps to 26-Year High of 10.2%, Posing Risk to Recovery The unemployment rate in the U.S.
jumped to 10.2 percent in October, the highest level since 1983,
threatening the emerging economic recovery and giving President
Barack Obama and Democrats a bigger hurdle to overcome before
next year’s Congressional elections.
U.S. Treasury Two-Year Notes Gain as Unemployment Rate Tops 10% in October Treasury two-year note yields touched
the lowest since May after the U.S. unemployment rate rose to a
26-year high of 10.2 percent and the Federal Reserve said it
will keep rates at record lows for an “extended period.”
Berkshire Net Income Triples to $3.2 Billion on Buffett's Stock, Bond Bets Billionaire investor Warren Buffett’s
Berkshire Hathaway Inc. said third-quarter profit tripled on
gains in derivatives tied to stocks and bonds.
UCBH Holdings' Bank Is Seized, Becomes 120th U.S. Lender Closed This Year UCBH Holdings Inc.’s United
Commercial Bank, a San Francisco-based lender with $11.2 billion
in assets, was seized by regulators, becoming the 120th U.S.
bank to fail this year.
Fannie Mae Bid to Sell Tax Credits Vetoed by U.S., Thwarting Goldman Sachs Fannie Mae’s request to sell $2.6
billion in low-income housing tax credits would be a bad deal
for taxpayers and won’t be allowed, the U.S. Treasury said.
Top Cadbury Holder Franklin Resources Bought for M&A, Awaits Kraft Offer Franklin Resources Inc. fund manager
Anne Gudefin, whose company is the biggest investor in Cadbury
Plc, said she targeted the U.K. confectioner as a takeover
candidate before Kraft Foods Inc.’s unsolicited approach.
Mexico's Largest Companies Say Calderon Budget Will Avert Rating Downgrade Executives from Mexico’s largest
companies said tax increases President Felipe Calderon pushed
through Congress will likely allow the country to avert a
credit-rating downgrade.
Brazil Real Posts Best Weekly Gain in 3 Months as Tax Fails to Stem Rally Brazil’s currency posted its biggest
weekly gain in three months, heightening speculation the
government may be planning measures to curb dollar inflows after
a tax on stocks and bonds failed to reduce gains in the real.
Venezuela Allows Central Bank to Trade PDVSA Bonds to Help Prop Up Bolivar Venezuela’s government authorized the
central bank to buy and sell bonds issued by state-run oil
company Petroleos de Venezuela, setting the stage for increased
intervention to strengthen the bolivar.
Brazil Stocks Drop, Pare Weekly Gain, as U.S. Data Sparks Recovery Concern Brazil’s Bovespa index fell for the
first time in four days as a jump in the U.S. unemployment rate
hurt the export outlook for commodity producers, overshadowing a
surge in profits at Lojas Americanas SA and Gafisa SA.
Mexico's Peso Falls on U.S. Jobless, Biggest Weekly Decline Since Sept. Mexico’s peso fell, capping the
biggest weekly decline since September, on rising unemployment
in the U.S. and investor concern the country won’t be able to
stave off its first credit-rating downgrade since 1995.
Televisa Unit to Invest $450 Million to Upgrade Its Mexico City Internet Grupo Televisa SA plans to spend
$450 million to upgrade its Mexico City cable network, improving
Web speeds to win more Internet clients, said Jean Paul Broc,
chief executive officer of the division.