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Economy


Consumer Spending, Home Sales Probably Rose as U.S. Recovery Takes Root Consumer spending probably rebounded in October, showing that mounting unemployment is restraining, not derailing, the biggest part of the U.S. economy, analysts said before reports this week.

Bills Yielding Zero as Stocks Soar Give Investors Bernanke Moment of 1938 For the first time in seven decades, Treasury bills are paying no interest while stocks continue to appreciate -- a divergence in U.S. financial markets that might be perilous if Federal Reserve Chairman Ben S. Bernanke didn’t know all about 1938.

Pakistanis Pay Economic Toll as Regrouping Taliban Threaten to Widen War Taliban fleeing a Pakistani offensive are regrouping in the country’s northwest, threatening to spread and prolong a conflict that has strained the nation’s economy and may hamper efforts to attract foreign investment.

Dubai Ruler Removes Aides in Effort to Court Investors Ahead of Bond Issue Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum fired one senior aide and removed three others from the board of Dubai’s main holding company as the debt-laden emirate tries to secure a second $10 billion injection of funds.

British Would-Be Borrowers Resist Approved Bank Credit as Loan Demand Dips A year ago, as Britain’s property market began to collapse, housebuilder Persimmon Plc owed 960 million pounds ($1.6 billion). Today, Chief Financial Officer Michael Killoran has slashed that debt by 58 percent.

New Zealand Annual Immigration Accelerates to Highest Level in Five Years New Zealand’s annual immigration growth accelerated to the highest level in more than five years in October, adding to signs consumer spending and demand for housing may speed the economy’s recovery from a recession.

Brown, Cameron to Set Out U.K. Spending Plans as Conservative Lead Narrows Gordon Brown and David Cameron will offer business leaders rival views of how to return the U.K. to economic growth after a poll showed the gap between their parties at its narrowest this year.

Hungary May Cut Key Interest Rate to 3-Year Low on Recession, Inflation Hungary’s central bank will probably cut the benchmark interest rate to the lowest in more than three years today to speed the country’s recovery from its worst recession in 18 years, which helps keep inflation in check.

New Zealand's Consumer Confidence Declined in November, Hampering Recovery New Zealand consumer confidence declined for the first time in five months in November, hampering the economy’s recovery from a recession.

Norway to Phase Out Stimulus to Avoid Krone Surge, Finance Minister Says Norway must remove government stimulus or risk faster interest-rate increases that would strengthen the krone and stifle an export recovery, Finance Minister Sigbjoern Johnsen said.


Fed Watch


Bullard Says Fed's Independence Vital to Stable Prices, Economic Recovery The Federal Reserve must retain its independence in setting monetary policy to contain the threat of inflation and avoid impeding the economic recovery, Federal Reserve Bank of St. Louis President James Bullard said.

Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

Fed's Shield Against Interest-Rate Audits Takes Blow as Paul Bill Advances The Federal Reserve’s shield from congressional audits of interest-rate decisions took a blow from lawmakers who want to open the central bank’s books to greater congressional scrutiny.


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