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Saturday, December 18, 2010 12:01 AM PST

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Today's Business News: Wall Street hovers at highs; profit-taking eyed Investors placing bets on 2011 Irish debt downgraded as EU eschews crisis Intel's $7.68 billion McAfee bid raises EU concern: report Retailers focus on convenience as Christmas nears A look at economic developments around the globe Obama says tax deal will help middle-class BlackBerry Torch lights up RIM results Most Irish welcome EU-IMF bailout: poll Arizona, Nevada sue BofA over loan modifications Dubai ruler's firm reaches deal on $2.5B in loans Analysis: Christmas to be decisive for Borders, Barnes & Noble Two states sue Bank of America on mortgage servicing 4 state AGs urge spill victims to get lawyers Obama signs tax bill, praises bipartisan spirit GM recalling 111,000 new small SUVs Tsinghua University -- MIT Sloan Wall Street hovers at highs; profit-taking eyed Fri, 17 Dec 2010 01:51 pm PST Reuters - The S&P clung to a two-year high on Friday as investors predicted a pause as volumes are expected to dry up in the days ahead, and after a 5 percent gain already so far in December. Full Story Top Investors placing bets on 2011 Fri, 17 Dec 2010 07:26 pm PST Reuters - Investors will be taking advantage next week of the some of the last remaining trading days of the year to place their bets on what will be the winners of 2011. Full Story Top Irish debt downgraded as EU eschews crisis Fri, 17 Dec 2010 02:23 pm PST Reuters - Ratings agency Moody's gave an emphatic thumbs-down on Friday to Europe's efforts to resolve a debt crisis, slashing Ireland's credit rating as EU leaders took no new action to prevent market turmoil spreading. Full Story Top Intel's $7.68 billion McAfee bid raises EU concern: report Fri, 17 Dec 2010 07:35 pm PST Reuters - Intel Corp (INTC.O)'s $7.68 billion deal to buy security-software specialist McAfee (MFE.N) Inc is running into close scrutiny from European officials that could delay the transaction, the Wall Street Journal reported on Friday. Full Story Top Retailers focus on convenience as Christmas nears Fri, 17 Dec 2010 02:27 pm PST Reuters - Retailers are focusing on convenience in the holiday season's home stretch. Full Story Top A look at economic developments around the globe Thu, 16 Dec 2010 11:41 am PST AP - A look at economic developments and activity in major stock markets around the world Thursday: Full Story Top Obama says tax deal will help middle-class Fri, 17 Dec 2010 01:16 pm PST AP - President Barack Obama says a tax cut package that's about to become law will give a much-needed holiday-season boost to middle class Americans and spur the ailing economy. Full Story Top BlackBerry Torch lights up RIM results Thu, 16 Dec 2010 11:46 pm PST Reuters - Research In Motion's Torch, a touchscreen challenger to Apple's iPhone, lifted the BlackBerry maker's quarterly profit above analyst expectations on Thursday and the company forecast strong results from the current holiday season quarter. Full Story Top Most Irish welcome EU-IMF bailout: poll Fri, 17 Dec 2010 10:44 pm PST AFP - A majority of Irish people welcome a European Union-International Monetary Fund bailout but believe the country has surrendered its sovereignty, according to an opinion poll published Saturday. Full Story Top Arizona, Nevada sue BofA over loan modifications Fri, 17 Dec 2010 04:17 pm PST AP - Attorneys general in Arizona and Nevada filed civil lawsuits Friday against Bank of America Corp., alleging that the lender is misleading and deceiving homeowners who have tried to modify mortgages in two of the nation's most foreclosure-damaged states. Full Story Top Dubai ruler's firm reaches deal on $2.5B in loans Fri, 17 Dec 2010 10:02 pm PST AP - An investment firm owned by Dubai's ruler says it has reached a deal with leading creditors to extend the terms on $2.5 billion worth of debt. Full Story Top Analysis: Christmas to be decisive for Borders, Barnes & Noble Thu, 16 Dec 2010 10:33 am PST Reuters - The two largest U.S. bookstore chains have offered up a compelling cliffhanger this holiday season that will seal the fate of brick-and-mortar bookselling. Full Story Top Two states sue Bank of America on mortgage servicing Fri, 17 Dec 2010 02:32 pm PST Reuters - The states of Arizona and Nevada sued Bank of America Corp on Friday, accusing the largest U.S. bank of routinely misleading consumers about home loan modifications. Full Story Top 4 state AGs urge spill victims to get lawyers Fri, 17 Dec 2010 09:18 pm PST AP - Attorneys general in four Gulf states are urging oil spill victims to consult lawyers before accepting final payments from a $20 billion compensation fund and agreeing not to sue BP. Full Story Top Obama signs tax bill, praises bipartisan spirit Fri, 17 Dec 2010 02:51 pm PST Reuters - President Barack Obama on Friday signed into law a bill extending Bush-era tax cuts and said he hoped the bipartisan spirit that had made it possible would help restore Americans' faith in Washington. Full Story Top GM recalling 111,000 new small SUVs Fri, 17 Dec 2010 09:16 am PST Reuters - General Motors Co said on Friday it is recalling about 111,000 Chevy Equinox, GMC Terrain and Cadillac SRX 2011 small SUV models because the anchor to the seatbelt buckle may fail, which could lead to injury in a crash. Full Story Top Tsinghua University -- MIT Sloan Fri, 17 Dec 2010 05:08 am PST BusinessWeek - noted that the school is now his "most cherished project" in a speech last year, and he's followed up on it. MBA students meet with the active octogenarian once a year at an exclusive banquet, giving them coveted access to one of the country's most powerful politicians. Full Story Top

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