Hong Kong shares advance, but Shanghai stocks drop
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1 hour, 26 minutes ago
Hong Kong shares climbed early Monday after U.S. stocks posted gains in spite of weaker-than-expected jobs data Friday, with insurers and airlines pacing the advance. The Hang Seng Index rose 1.1% to 22,066.88, with China Life Insurance Co.
GE, Comcast set $30 billion value for NBC: report
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2 hours, 30 minutes ago
General Electric Co. and Comcast Corp. have agreed on a valuation of about $30 billion for GE's NBC Universal unit, ironing out what has been a key obstacle in talks to form a joint venture between NBC and Comcast, according to a Reuters report Sunday, citing an unnamed source familiar with the matter.
Japanese shares fall, but consumer lenders rise
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Sun 7:37 pm ET
Japan's Nikkei 225 Average fell by 0.3% to 9,764.99, and the Topix was at 869.07, down 0.6% Monday morning in Tokyo as financial shares declined, with Sumitomo Mitsui Financial Group Inc. down 1.6%, and Aozora Bank Ltd. losing 0.9%.
Australian stocks gain early, financials strong
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Sun 6:36 pm ET
Australian stocks moved broadly higher in early Monday morning trade, with the benchmark S&P/ASX 200 starting the week up 0.6% at 4,622.1. Financials were among the top gainers, with Commonwealth Bank of Australia up 2.7% after issuing a first-quarter trading update that showed cash profit at about 1.4 billion Australian dollars for the period.
Northrop to sell TASC consulting arm for $1.65 bln
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Sun 6:25 pm ET
Northrop Grumman Corp. said Sunday it has signed an agreement to sell TASC Inc., its advisory-services business, for $1.65 billion in cash to an investor group led by General Atlantic LLC and affiliates of Kohlberg Kravis Roberts & Co.
House passes U.S. health-care overhaul legislation
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Sat 11:15 pm ET
On a 220-215 vote late Saturday night, the U.S. House of Representatives passed and sent to the Senate controversial legislation that would overhaul the nation's health-care system.
Detroit's Home Federal Savings 117th bank failure
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Fri Nov 6
The Office of Thrift Supervision on Friday shut down Home Federal Savings Bank of Detroit, Michigan, making it the 117th bank closure of 2009. All deposit accounts have been transferred to Liberty Bank and Trust Company of New Orleans, Louisiana.
Berkshire to borrow $8B to pay for Burlington
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Fri Nov 6
Berkshire Hathaway said late Friday that it plans to borrow roughly $8 billion to help the company pay for its acquisition of railroad operator Burlington Northern Santa Fe . Berkshire agreed earlier this week to pay $26 billion for the rest of Burlington it doesn't already own.
Berkshire quarterly net income more than doubles
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Fri Nov 6
Berkshire Hathaway said late Friday that third-quarter net income more than doubled as the insurance-focused conglomerate run by Warren Buffett benefited from a rebound in the value of its large equity investments and derivatives exposures.
Georgia's United Security year's 116th failed bank
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Fri Nov 6
United Security Bank of Sparta, Ga, became the 116th U.S. bank of the year to fail, according to the Federal Deposit Insurance Corp. on Friday. Ameris Bank of Moultrie, Ga. will purchase the bank's assets and assume all of the deposits at a 0.36% premium.
Freddie Mac narrows quarterly loss
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Fri Nov 6
Freddie Mac late Friday reported its third-quarter net loss attributable to Freddie Mac narrowed to $5.01 billion from a loss of $25.3 billion in the same quarter a year earlier. After payment of $1.3 billion dividend on its senior preferred stock to the Treasury Department, Freddie Mac's net loss attributable to common stockholders was $6.3 billion, or $1.94 a share.
Sun Microsystems narrows first-quarter loss
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Fri Nov 6
Sun Microsystems Inc. said late Friday that its fiscal first-quarter loss narrowed to $120 million, or 16 cents a share, from $1.68 billion, or $2.24 a share, in the year-ago period.