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Tuesday, November 3, 2009 12:01 AM PST

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Today's Business News: Asia markets fall as US recovery doubts linger Oil hovers near $78 amid positive US economic data Stanley sees cost savings in Black & Decker deal Whistleblower recounts money problems at Petters 3 strong economic reports lift recovery hopes US bank failure jolts stock markets FDIC's Bair pushes for regulatory changes Ford posts surprise earnings, sees solid profit rise UK's bailed-out banks forced into overhaul Calif. boosts income tax collection by 10 percent Peet's Coffee buying Diedrich Coffee for $213M Oil steady above $78, eyes U.S. crude stocks Oil gains, dollar falls after strong data Report: Goldman Sachs looks to buy tax credits IBD's Top 10 - Monday The Biggest Bet in Vegas New-Home Sales in Surprise Decline Asia markets fall as US recovery doubts linger Mon, 2 Nov 2009 11:09 pm PST AP - Asian stock markets were mostly lower Tuesday despite improvement in U.S. manufacturing as doubts lingered about the durability of a rebound in the world's largest economy. Full Story Top Oil hovers near $78 amid positive US economic data Mon, 2 Nov 2009 09:56 pm PST AP - Oil prices hovered near $78 a barrel Tuesday in Asia as investors welcomed new U.S. manufacturing and construction figures as positive signs of an economic recovery. Full Story Top Stanley sees cost savings in Black & Decker deal Mon, 2 Nov 2009 09:58 pm PST AP - Tool makers Stanley Works and Black & Decker Corp. are betting that together they can wring out more profit and better position themselves for a housing market recovery than they could apart. Full Story Top Whistleblower recounts money problems at Petters Mon, 2 Nov 2009 05:57 pm PST AP - A longtime aide to a Minnesota businessman accused of operating a $3.65 billion Ponzi scheme said Monday that he was struggling to find new money and hold off nervous investors by the time she went to federal prosecutors to report the alleged scheme. Full Story Top 3 strong economic reports lift recovery hopes Mon, 2 Nov 2009 01:24 pm PST AP - Hopes for the fledgling economic recovery got a boost Monday from better-than-expected news on manufacturing, construction and contracts to buy homes. Full Story Top US bank failure jolts stock markets Mon, 2 Nov 2009 03:48 am PST AFP - Asian stock markets tumbled on Monday with investors rattled by the bankruptcy of US bank CIT and sharp pre-weekend falls on Wall Street, but Europe edged up on bargain-hunting, analysts said. Full Story Top FDIC's Bair pushes for regulatory changes Mon, 2 Nov 2009 01:35 pm PST AP - The head of the Federal Deposit Insurance Corp. on Monday said Congress needs to provide regulators greater tools to control the risky financial behavior that helped trigger the recession and to unwind major firms on the verge of collapse. Full Story Top Ford posts surprise earnings, sees solid profit rise Mon, 2 Nov 2009 05:43 pm PST AFP - Ford Motor Co. on posted surprise earnings of nearly a billion dollars in the third quarter and said it was on track to become "solidly profitable" by 2011 after years of painful losses. Full Story Top UK's bailed-out banks forced into overhaul Mon, 2 Nov 2009 08:32 am PST AP - News that Britain's bailed-out banks may have to sell more of their businesses in return for being rescued jangled market nerves Monday, with Royal Bank of Scotland, Lloyds Banking Group and the wider financial sector facing a crucial week in the road to recovery. Full Story Top Calif. boosts income tax collection by 10 percent Mon, 2 Nov 2009 12:18 pm PST AP - California wage earners will soon notice a little less money in their paychecks. Full Story Top Peet's Coffee buying Diedrich Coffee for $213M Mon, 2 Nov 2009 04:30 pm PST AP - Coffee chain retailer Peet's Coffee & Tea Inc. said Monday it will buy wholesale roaster and distributor Diedrich Coffee Inc. for $213 million in a move to enter the rapidly growing single-cup coffee market. Full Story Top Oil steady above $78, eyes U.S. crude stocks Mon, 2 Nov 2009 11:21 pm PST Reuters - Oil held steady above $78 a barrel on Tuesday, after rising more than 1.5 percent a day ago, as traders weighed the impact of a possible rise in U.S. crude stocks against positive manufacturing and home sales data. Full Story Top Oil gains, dollar falls after strong data Mon, 2 Nov 2009 10:00 pm PST Reuters - Crude oil rose and the dollar fell on Monday on strong worldwide factory data and a surprise jump in U.S. pending home sales, but U.S. stocks see-sawed before ending higher after a sell-off in banking shares. Full Story Top Report: Goldman Sachs looks to buy tax credits Mon, 2 Nov 2009 06:24 am PST AP - Wall Street giant Goldman Sachs Group Inc. is reportedly in talks to buy tax credits from Fannie Mae, a government-controlled mortgage financier. Full Story Top IBD's Top 10 - Monday Mon, 2 Nov 2009 03:48 pm PST Investor's Business Daily - 1 ISM's Oct. manufacturing index rose 3.1 points to 55.7, the highest since April '06. Readings over 50 signal growth. Economists had expected a slight rise to 53. The jobs subindex turned positive for the first time in over a year. Meanwhile, pending home sales shot up 6.1% to their best level since Dec. '06. Surging homebuilding lifted Sept. construction spending. Full Story Top The Biggest Bet in Vegas Mon, 2 Nov 2009 05:08 am PST BusinessWeek - Every Friday morning, James J. Murren heads to the Las Vegas Strip in his chauffeur-driven SUV to check on the status of his dream project. "Look at that," says the chairman and CEO of MGM Mirage (NYSE:MGM - News), pausing inside the Aria Resort & Casino. "The marble, the vaulted ceiling -- it looks like the Vatican." Full Story Top New-Home Sales in Surprise Decline Fri, 30 Oct 2009 05:08 am PDT BusinessWeek - The Oct. 28 report by the government that the rate of new-home sales posted a surprising 3.6% drop in September from August is likely to give a boost to advocates of extending a federal first-time home-buyer tax credit that is due to expire at the end of November. Full Story Top

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