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News Summary: US homebuilder confidence rises

Submitted by Fox First at Ten on November 19th

By The Associated Press BULLISH BUILDERS: A survey of 417 U.S. homebuilders shows they are feeling more confident in their prospects for sales than they have in six and a half years. THE NUMBERS: The National Association of Home Builders/Wells Fargo builder sentiment index increased to 46 this

SAS avoids bankruptcy after unions approve plan

Submitted by Fox First at Ten on November 19th

By JAN M. OLSENAssociated Press COPENHAGEN, Denmark (AP) - Scandinavia's flagship airline SAS averted imminent bankruptcy on Monday after all eight unions signed new collective agreements that will see jobs, salaries and pensions cut in the hope of restoring the company's

Judge dismisses $25B suit over AIG rescue

Submitted by Fox First at Ten on November 19th

NEW YORK (AP) - A federal judge has dismissed a $25 billion lawsuit arising from the government rescue of the insurance company American International Group during the 2008 financial crisis. Starr International, a company run by former AIG CEO Maurice "Hank" Greenberg, accused the Federal Reserve

Fiat Industrial sweetens CNH merger offer

Submitted by Fox First at Ten on November 19th

MILAN (AP) - Capital goods maker Fiat Industrial SpA said Monday that it has sweetened its offer for a full merger with its U.S. subsidiary, the farm equipment maker CNH Global N.V., raising the value of the deal by more than 25 percent. Fiat Industrial said its "best and final offer" to buy the 12

Fishing nations maintain tuna quotas

Submitted by Fox First at Ten on November 19th

By PAUL SCHEMMAssociated Press AGADIR, Morocco (AP) - Fishing countries on Monday voted to keep up strict limits on catching Atlantic Bluefin tuna, overruling fierce opposition from critics who argue that the key sushi ingredient is on the rebound. Observers at a week-long meeting in the

Oil up on Middle East fears, 'fiscal cliff' hopes

Submitted by Fox First at Ten on November 19th

NEW YORK (AP) - The price of oil closed at its highest point in nearly a month Monday on rising concerns about the Middle East and less worry about the U.S. "fiscal cliff." President Barack Obama and leaders of the House and Senate appeared to have constructive discussions Friday to avoid a series

US stocks rise on hopes for budget deal, Europe

Submitted by Fox First at Ten on November 19th

By DANIEL WAGNERAP Business Writer The stock market finally shook its post-election slump. Investors seized on hope that Washington will reach a deal on the federal budget and drove stocks Monday to their biggest gain in two months. A pair of strong corporate earnings reports also helped. The

Steady US housing recovery is boosting economy

Submitted by Fox First at Ten on November 19th

By ALEX VEIGA and CHRISTOPHER S. RUGABERAP Business Writers WASHINGTON (AP) - From purchases and prices to builder sentiment and construction, the U.S. housing market is making consistent gains. The latest evidence came in reports Monday that sales of previously occupied homes rose solidly in

US homebuilder confidence at 6-year high

Submitted by Fox First at Ten on November 19th

By ALEX VEIGAAP Real Estate Writer LOS ANGELES (AP) - Confidence among U.S. homebuilders rose this month to its highest level in six and a half years, driven by strong demand for newly built homes and growing optimism that the housing recovery will strengthen next year. The National Association

US stocks open higher

Submitted by Fox First at Ten on November 19th

NEW YORK (AP) - The stock market is starting the holiday week with a big gain. Just after the opening bell on Wall Street, the Dow Jones industrial average is up 102 points at 12,690. The Standard & Poor's 500 index is up 12 at 1,372. And the Nasdaq composite index is up 32 to 2,885.