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Monday, January 3, 2011 12:00 AM PST

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Today's Business News: Hangover or after-party for stocks? Goldman, Digital Sky Technologies invest in Facebook: report Jobs trickle in. Whither workers? Apple's iPhone woes continue as some in Asia sleep in Hyundai, Kia eye 10 percent 2011 sales rise after strong Dec European stocks drop at end of mixed year US dollar seen rising in 2011 after rough 2010 Earnings schedule for week of 1/03/11 EU hails kickoff for new financial surveillance bodies Bonds' dramatic year sets stage for higher rates Oil falls below $90 amid light year-end trading Blizzard delays $1 billion in holiday sales Mortgage lenders now advertising as crisis solvers Oil extends rally above $91 on optimism, eyes U.S. data Britain set for rocky economic ride in 2011 Winterkorn to remain at Volkswagen helm until end-2016 Canadians Spend Like Crazy Americans Hangover or after-party for stocks? Sun, 2 Jan 2011 08:30 am PST Reuters - A bout of profit taking seems likely early in the new year after the S&P 500 ended its best December in almost two decades, but stocks may have further to run at the start of 2011. Full Story Top Goldman, Digital Sky Technologies invest in Facebook: report Sun, 2 Jan 2011 10:41 pm PST Reuters - Facebook has raised $500 million from Goldman Sachs and Russian Internet investment group Digital Sky Technologies in a deal valuing the social networking site at $50 billion, the New York Times reported citing people involved in the transaction. Full Story Top Jobs trickle in. Whither workers? Sun, 2 Jan 2011 12:10 pm PST Reuters - U.S. private employers have recorded 11 consecutive months of job gains, yet the number of people who are so discouraged that they have given up searching for work stands at an all-time high. Full Story Top Apple's iPhone woes continue as some in Asia sleep in Sun, 2 Jan 2011 11:37 pm PST Reuters - Some iPhone users in Asia complained of malfunctioning alarms on the first working day of 2011, even after Apple reassured users that its phones' built-in clocks will work from Monday. Full Story Top Hyundai, Kia eye 10 percent 2011 sales rise after strong Dec Sun, 2 Jan 2011 11:40 pm PST Reuters - Hyundai Motor Group (005380.KS) and its affiliate Kia Motors (000270.KS) aim to boost vehicle sales by 10 percent this year after robust December sales, as the sector shows a gradual recovery, led by China and the United States. Hyundai Motor shares rose 2 percent on Monday, while shares in Kia Motors jumped 3.75 percent in a broader market (.KS11) up 0.9 percent, with Hyundai expected to outperform other car makers this year. Full Story Top European stocks drop at end of mixed year Fri, 31 Dec 2010 06:31 am PST AFP - European stock markets slid on Friday at the end of a mixed year for the region's indices amid the eurozone debt crisis. Full Story Top US dollar seen rising in 2011 after rough 2010 Fri, 31 Dec 2010 02:42 pm PST AP - Never mind the lackluster economy, the huge trade deficit or the government's piles of debt: The U.S. dollar is still expected to outperform most of the world's major currencies next year. Full Story Top Earnings schedule for week of 1/03/11 Thu, 30 Dec 2010 10:45 am PST AP - Major companies tentatively scheduled to report quarterly earnings next week: Full Story Top EU hails kickoff for new financial surveillance bodies Sun, 2 Jan 2011 12:23 pm PST AFP - The European Union hailed the 2011 kickoff this weekend of a series of new post-crisis pan-European watchdogs aimed at tightening regulation of the finance industry. Full Story Top Bonds' dramatic year sets stage for higher rates Fri, 31 Dec 2010 02:59 pm PST AP - It was a dramatic ride for bonds and the mortgage market in 2010 as an economic crisis in Europe and wonky concepts like "quantitative easing" helped push down yields to levels not seen since the 1950s. Full Story Top Oil falls below $90 amid light year-end trading Fri, 31 Dec 2010 08:11 am PST AP - Oil prices slipped further below $90 a barrel Friday as investors took profits amid light year-end trading volume. Despite the fall, oil prices are set to end the year around 12 percent higher than where they started — a clear signal that the global economy has returned to growth following the worst recession since World War II . Full Story Top Blizzard delays $1 billion in holiday sales Wed, 29 Dec 2010 06:35 pm PST Reuters - A blizzard in the Northeast this weekend postponed about $1 billion in holiday retail sales by keeping shoppers out of stores in the days after Christmas, research firm ShopperTrak said on Wednesday. Full Story Top Mortgage lenders now advertising as crisis solvers Fri, 31 Dec 2010 01:17 pm PST AP - PacWest Funding's CEO watched in late 2007 as rival mortgage brokerages, banks and collaborators collapsed under the weight of the declining housing market. Full Story Top Oil extends rally above $91 on optimism, eyes U.S. data Sun, 2 Jan 2011 11:50 pm PST Reuters - Oil extended its rally above $91 a barrel on Monday on optimism the global economic rebound is gathering momentum, which could drive demand growth and send prices above $100 later this year. Full Story Top Britain set for rocky economic ride in 2011 Sat, 1 Jan 2011 08:37 pm PST AFP - An austere tax increase, huge cuts in state spending and rising unemployment are all set to be unleashed on Britain in 2011, risking widespread strike action by disgruntled workers. Full Story Top Winterkorn to remain at Volkswagen helm until end-2016 Sun, 2 Jan 2011 11:14 am PST AFP - Martin Winterkorn will remain as head of German carmaker Volkswagen until the end of 2016 after his contract was extended by five years, the company said Sunday. Full Story Top Canadians Spend Like Crazy Americans Fri, 31 Dec 2010 05:08 am PST BusinessWeek - Spendthrift Canada? Many Americans would find that hard to believe. Throughout the subprime crisis that rocked the U.S., Canada's economy and banking industry remained rock solid. Full Story Top

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