Banks cut U.S. Treasury debt holdings
The 18 banks and securities firms that trade directly with the Federal Reserve are sharply cutting their holdings of U.S. Treasury debt. Since Nov. 24, the firms’ net holdings of federal debt have fallen from $81.3 billion to $2.3 billion. In a bet on faster growth, their holdings of corporate bonds have risen steeply.
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Foreclosures drop
U.S. home foreclosures took a one-month tumble of 21 percent in November 2010 as banks held off seizing residences amid rising scrutiny of foreclosure practices. Fewer foreclosed homes on the market could translate into rising prices for residential real estate.
The New York Times
Consumers remain wary of debt
Consumer credit grew a scant $1.3 billion in November, with most of the loans going toward car purchases or education. Total consumer indebtedness stands at $2.4 trillion, nearly 7 percent below July 2008’s peak of $2.6 trillion.
USA Today
Price of Volkswagen's new Passat sedan drops
Volkswagen said this week it would build its largest sedan, the Passat, at its new $1 billion facility in Chattanooga, Tenn. Due in showrooms next autumn, the redesigned Passat will carry a sticker price of about $20,000, down from the $26,000 charged for the previous model.
Nashville Business Journal
Apple's rising value
Although Apple CEO Steve Jobs did not add to his holdings of company stock in 2010, his shares increased in value by more than $620 million, to $1.79 billion. Apple’s per-share price rose from $210.73 at the end of 2009 to $322.56 at the close of 2010.
247WallSt.com
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The bottom linefeature Working families continue to struggle; The least-trusted industries; The bestselling vehicle; Mobil device use triples; Global unemployment among the young
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The bottom line
feature The cost of e-filing; Dipping into nest eggs early; What Americans are drinking; Planning for death; How tax refunds are spent
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The bottom line
feature Building bigger houses; And tuition at OSU is?; Christmas at McDonald's; Self-gifting at Christmas; Lloyd’s prepares for Hurricane Sandy claims; Google's billions
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The bottom line
feature Good results for the third quarter; Compensation at financial firms hits a high; Three cities with recovering economies; Good year for car sales; Broadway's best performance ever; Tax bite is less in 2010 than in 1980
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The bottom line
feature Airlines cut domestic flights; Income up in small cities and rural areas; Bond and Lincoln lift box office earnings; Don't be fooled by Black Friday; The high toll of identity theft
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The bottom line
feature The gender pay gap; U.S. economic growth; Parents who argue about money; Online subscriptions rise
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The bottom line
feature Can the U.S. keep up?; Airlines spend billions on runway taxiing; Americans exaggerate their working hours; The Dow Jones's 67.9 percent gain; Success and summer babies
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The bottom line
feature Consumer confidence jumps; Wall Street cuts jobs, raises pay; Goldman Sachs's muppet hunt; Desktop web searches decline; Pizza Hut scraps debate freebie