Worldwide
U.S. Stocks, Commodities Slide as Bonds, Dollar Gain on Dubai Debt Crisis U.S. and emerging-market stocks
slumped and commodities dropped as Dubai’s attempt to delay debt
repayments unnerved investors. Treasuries and the dollar rose
while credit-default swaps surged.
Dubai Woes May Escalate to `Major Sovereign Default,' Bank of America Says Dubai’s debt woes may worsen to
become a “major sovereign default” that roils developing
nations and cuts off capital flows to emerging markets, Bank of
America Corp. said.
RBS Led Dubai World Lenders, HSBC Has Most at Stake in UAE, JPMorgan Says Royal Bank of Scotland Group Plc was
the biggest underwriter of loans to Dubai World, the state
company seeking to reschedule debt, while HSBC Holdings Plc has
the most at risk in the United Arab Emirates, according to
JPMorgan Chase & Co.
Dubai Debt May Exceed $80 Billion on Off-Balance-Sheet Liability, UBS Says Dubai, the Persian Gulf emirate
whose state-run companies are seeking to defer debt payments,
may owe more than the $80 billion to $90 billion in liabilities
assumed by investors, UBS AG analysts said.
Black Friday Shoppers Crowd Best Buy, Target in Pursuit of `Elusive' Gifts Shoppers took advantage of Black
Friday discounts to snap up televisions, laptop computers and
robot hamsters at Best Buy Co., Target Corp. and Toys “R” Us
Inc. stores from New Jersey to Texas.
Miami May Delay $120 Million Bond Offering on Audit, Possible SEC Inquiry Miami may delay a $120 million bond
sale after an audit showed lax budget practices and the city
learned of a possible U.S. Securities and Exchange Commission
inquiry, Mayor Tomas Regalado said.
AvtoVAZ to Get $1.7 Billion From Russia in Technology Accord With Renault Russia pledged to inject 50 billion
rubles ($1.7 billion) into OAO AvtoVAZ in return for technology
from 25 percent shareholder Renault SA.
Secret Service Investigating How Couple Crashed White House State Dinner The Secret Service is reviewing
whether criminal charges may be warranted for a Washington-
area couple who got past security to crash a state dinner at the
White House, a spokesman for the agency said.
Corzine Seeks Cuts at Schools, Hospitals as New Jersey's Budget Gap Widens New Jersey Governor Jon Corzine
plans to cut pension contributions as well as aid to schools,
cities and hospitals to close a deficit of more than $1 billion
that has emerged less than five months into the fiscal year.
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