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Thursday, December 3, 2009 12:01 AM PST

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Today's Business News: AP sources: Comcast to pay $13.75B for NBC stake Up for second term, Fed chief heads to Congress American, partners offer $1.1B to Japan Airlines NYC tree lighting ushers in tourist season Siemens reports 4Q net loss of $1.65 billion Lifting of pay restraints to ease BofA CEO search SEC ramps up probes of hedge funds: source Quotes on the To do list of GM's next CEO Sigma Designs reports 3Q loss EU in bank supervision deal, despite British 'veto' Fed's Lacker flags need for exit, favors asset sales Wal-Mart to pay $40M to workers in Mass. More cash down proposed for FHA-backed loans Oil higher but inventories, spreads worry Vanguard: 60 percent of 401k accounts recovered Mortgage applications edge higher, rates hit 6 month low Home Lenders Face Sanctions Over Failed Modifications AP sources: Comcast to pay $13.75B for NBC stake Wed, 2 Dec 2009 09:26 pm PST AP - After months of negotiations, Comcast Corp. is finally about to seal its deal for a majority stake in NBC Universal, turning the nation's largest cable TV provider into one of its most powerful media companies. Full Story Top Up for second term, Fed chief heads to Congress Wed, 2 Dec 2009 09:30 pm PST AP - He angered Congress and the public for bailing out Wall Street. He failed to detect early signs of the housing collapse. And now, he may be helping feed another speculative bubble. Full Story Top American, partners offer $1.1B to Japan Airlines Wed, 2 Dec 2009 11:24 pm PST AP - American Airlines upped the ante in the tug-of-war over Japan Airlines, vowing Thursday to lead a $1.1 billion investment in the struggling carrier to prevent it from falling into the orbit of rival Delta. Full Story Top NYC tree lighting ushers in tourist season Wed, 2 Dec 2009 11:44 pm PST AP - Mayor Michael Bloomberg has lit the Rockefeller Center Christmas tree, ushering in tourist season in one of New York's busiest holiday shopping districts. Full Story Top Siemens reports 4Q net loss of $1.65 billion Wed, 2 Dec 2009 11:41 pm PST AP - Germany's Siemens AG has reported a net loss for its fiscal fourth quarter of euro1.1 billion ($1.65 billion), caused mostly by a write-down on its Nokia Siemens Networks business. Full Story Top Lifting of pay restraints to ease BofA CEO search Wed, 2 Dec 2009 09:41 pm PST AP - Bank of America Corp. has been having a tough time finding a new CEO willing to accept the restrictions that came as a condition of bailout funds. But recruitment is sure to be easier now that the bank plans to pay back its $45 billion in aid in just a few days to free itself from government oversight and pay restraints. Full Story Top SEC ramps up probes of hedge funds: source Wed, 2 Dec 2009 10:54 am PST Reuters - U.S. securities regulators have stepped up their probes of hedge funds and are asking some firms to hand over information about their performance and trades, a source familiar with the matter said on Wednesday. Full Story Top Quotes on the To do list of GM's next CEO Wed, 2 Dec 2009 03:46 pm PST AP - • "The board has been second guessing (Henderson) on what's the next priority. Is it pay back the government? Is it to do an IPO? ... Just get those things out of the picture. Concentrate on vehicle attractiveness and quality, safety, fuel economy — the basic blocking and tackling of an automobile company." — Gerald Meyers, University of Michigan business professor and former chairman of American Motors. Full Story Top Sigma Designs reports 3Q loss Wed, 2 Dec 2009 05:00 pm PST AP - Sigma Designs Inc. reported a third-quarter loss Wednesday, citing a drop in demand for its Internet protocol television products for a drop in revenue. Full Story Top EU in bank supervision deal, despite British 'veto' Wed, 2 Dec 2009 11:21 am PST AFP - Europe took a first major step on Wednesday toward insulating the continent from future financial crises despite British reservations that nonetheless secured an emergency "veto." Full Story Top Fed's Lacker flags need for exit, favors asset sales Wed, 2 Dec 2009 02:00 pm PST Reuters - The U.S. Federal Reserve must remain alert to lurking inflation risks, and could begin removing monetary stimulus by selling some of the mortgage debt it acquired during the financial crisis, a top central bank official said on Wednesday. Full Story Top Wal-Mart to pay $40M to workers in Mass. Wed, 2 Dec 2009 05:22 pm PST AP - Wal-Mart Stores Inc. has agreed to pay $40 million to 87,500 Massachusetts employees who claimed the retailer denied them rest and meals breaks, manipulated time cards and refused to pay overtime, according to court documents filed Wednesday. Full Story Top More cash down proposed for FHA-backed loans Wed, 2 Dec 2009 04:54 pm PST AP - Homebuyers insured by the Federal Housing Administration would have to provide more cash up front and meet higher credit scores under an Obama administration plan to protect the financially stretched agency. Full Story Top Oil higher but inventories, spreads worry Wed, 2 Dec 2009 10:52 pm PST Reuters - U.S. crude futures edged higher Thursday after slipping 2.3 percent a day earlier on a larger-than-expected build in U.S. crude inventories. Full Story Top Vanguard: 60 percent of 401k accounts recovered Wed, 2 Dec 2009 09:49 am PST AP - Another major provider of 401(k) accounts says the typical retirement saver now has more money in their account than they did before the stock market began tumbling two years ago. Full Story Top Mortgage applications edge higher, rates hit 6 month low Wed, 2 Dec 2009 06:40 am PST Reuters - U.S. mortgage applications nudged higher last week, data from an industry group reported on Wednesday, as consumers showed a subdued reaction to the lowest interest rates in six months. Full Story Top Home Lenders Face Sanctions Over Failed Modifications Wed, 2 Dec 2009 05:08 am PST BusinessWeek - (Bloomberg) The U.S. Treasury Dept. will begin taking action against lenders that aren't doing enough to ease mortgage payments for troubled homeowners as part of the Obama Administration's $75 billion pledge to curb foreclosures. Lenders> The> The> "We> Seriously>The> The> Eligible> Mortgage> The> A>Robert> One> The> Bank> "As> The> Full Story Top

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