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Friday, December 4, 2009 12:02 AM PST

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Today's Business News: Job creation near but likely to be painfully slow Suzuki, General Motors to end Canada partnership Asia stocks drop amid caution ahead of US job data IBD's Top 10 - Thursday Chinese official raps foreign banks on derivatives S. Korea's 3Q growth revised higher to 3.2 percent Biotech cos. rise as gov't OKs new stem cell lines After rough year, Obama seeks Christmas cheer Marvell Technology posts higher 3Q profit Clinton arrives for NATO talks, praises allies Rates on 30-year mortgages set new record low Ulta Salon 3rd-qtr profit rises 69 percent Existing housing sales way up on Oahu Sinopec, Exxon sign deal for Papua New Guinea gas Getting a Mortgage in 2010: 10 Things to Know Toll Bros. loses $111 million in Q4, but sees hope Home Lenders Face Sanctions Over Failed Modifications Job creation near but likely to be painfully slow Thu, 3 Dec 2009 10:55 pm PST AP - The economy is getting closer to generating jobs for the first time in two years, but it probably won't be enough to stop the unemployment rate from rising. Full Story Top Suzuki, General Motors to end Canada partnership Thu, 3 Dec 2009 11:12 pm PST AP - General Motors Co. and Suzuki Motor Corp. say they have agreed to end their automaking partnership in Canada. Full Story Top Asia stocks drop amid caution ahead of US job data Thu, 3 Dec 2009 10:06 pm PST AP - Asian stock markets dropped Friday as investors tread carefully ahead of a U.S. jobs report that could help determine the durability of the U.S. economic recovery. Full Story Top IBD's Top 10 - Thursday Thu, 3 Dec 2009 03:53 pm PST Investor's Business Daily - 1 75% of chains reported same-store sales below forecasts, including Buckle (NYSE:BKE - News), Costco (NasdaqGS:COST - News), J.C. Penney (NYSE:JCP - News), Target (NYSE:TGT - News) and TJX (NYSE:TJX - News), Retail Metrics said. A small bump from Black Friday weekend didn't offset weakness earlier in the month. Total same-store sales rose just 0.7%, despite very easy year-earlier comparisons. But Limited (NYSE:LTD - News) and Kohl's (NYSE:KSS - News) did well. Full Story Top Chinese official raps foreign banks on derivatives Thu, 3 Dec 2009 11:18 pm PST AP - A senior Chinese official criticized foreign banks for selling derivatives with "fraudulent characteristics" that led to heavy losses for state-owned airlines and other companies. Full Story Top S. Korea's 3Q growth revised higher to 3.2 percent Thu, 3 Dec 2009 11:20 pm PST AP - South Korea's economy expanded 3.2 percent in the third quarter, the central bank said Friday, a better performance than initially estimated amid stronger growth in manufacturing, exports and services. Full Story Top Biotech cos. rise as gov't OKs new stem cell lines Wed, 2 Dec 2009 12:39 pm PST AP - Shares of companies developing stem cell therapies surged Wednesday on news that the federal government has cleared 13 new stem cell lines for testing, bringing to a close nearly a decade of restrictions. Full Story Top After rough year, Obama seeks Christmas cheer Thu, 3 Dec 2009 03:51 pm PST AFP - After months dealing with economic misery, soaring unemployment, and a war going wrong, President Barack Obama sought solace in the season Thursday, by lighting the US national Christmas tree. Full Story Top Marvell Technology posts higher 3Q profit Thu, 3 Dec 2009 03:48 pm PST AP - Chip maker Marvell Technology Group Ltd. said Thursday its fiscal third-quarter profit jumped sharply as expenses declined and revenue edged higher. Full Story Top Clinton arrives for NATO talks, praises allies Thu, 3 Dec 2009 10:57 pm PST AP - U.S. Secretary of State Hillary Rodham Clinton, arriving Friday at NATO headquarters, welcomed an expected series of announcements by allied nations of additional military, civilian and financial support for the war effort in Afghanistan. Full Story Top Rates on 30-year mortgages set new record low Thu, 3 Dec 2009 11:36 am PST AP - The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs. Full Story Top Ulta Salon 3rd-qtr profit rises 69 percent Thu, 3 Dec 2009 03:25 pm PST AP - Beauty supplies retailer Ulta Salon Cosmetics & Fragrance Inc. said Thursday its profit rose 69 percent in the third quarter as sales rose by a double-digit percentage. Full Story Top Existing housing sales way up on Oahu Thu, 3 Dec 2009 04:49 pm PST AP - November saw Oahu's existing single-family homes and condominiums market rise sharply compared with November 2008, with one economist saying the market has begun to bounce back after bottoming out. Full Story Top Sinopec, Exxon sign deal for Papua New Guinea gas Thu, 3 Dec 2009 11:24 pm PST AP - State-owned Sinopec Corp. said Friday it has signed a 20-year contract with Exxon Mobil Corp. to buy gas from Papua New Guinea, in the latest of a flurry of foreign deals to secure fuel for China's booming economy. Full Story Top Getting a Mortgage in 2010: 10 Things to Know Thu, 3 Dec 2009 10:05 am PST U.S. News & World Report - More than three years into a painful housing crash, the real estate market has sent recent--albeit tentative--signs of stabilization. Home sales have increased, inventory levels are down, and price declines have become less precipitous. Along with more affordable home prices and a tax perk from Uncle Sam, attractive mortgage rates--which remained below 5 percent as of late November--have been a driving force behind this development. The availability of low mortgage rates will play a decisive role in the performance of the 2010 housing market as well. ... Full Story Top Toll Bros. loses $111 million in Q4, but sees hope Thu, 3 Dec 2009 10:54 am PST AP - Toll Brothers Inc. lost $111.4 million in the fiscal fourth quarter, but the luxury homebuilder is seeing signs of a turnaround in the housing market. 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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