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    Last update: December 22, 2009

    +Stocks eye retailers as jobless ranks swell
      NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.

    +GM to stick to Opel cuts plan: future chairman
      ZURICH (Reuters) - General Motors Co will probably stick to a plan to cut costs at Opel by 30 percent after deciding to restructure the European subsidiary itself rather than sell it, Bob Lutz, a GM executive set to become Opel's chairman, was quoted as saying on Sunday.

    +Geithner: need stimulus, not financial transactions tax
      ST ANDREWS, Scotland (Reuters) - Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior.

    +UK gives impetus to global banks tax
      ST ANDREWS, Scotland (Reuters) - Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly.

    +UK, Australia seek UBS data after U.S. tax case
      ZURICH (Reuters) - Authorities in Britain and Australia have requested information from UBS after the Swiss bank agreed in August to disclose some 4,450 client names to settle a U.S. tax case, the bank confirmed on Sunday.

    +Wall Street firms skittish about RUSAL IPO: report
      CHICAGO (Reuters) - Wall Street firms are in a quandary about getting involved with a planned public offering of Russian aluminum producer UC RUSAL because its founder has been barred from getting a U.S. visa on account of allegations that he is connected to organized crime, the Wall Street Journal reported on Saturday.

    +Jobless rate surges to 10.2 percent
      WASHINGTON (Reuters) - The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.

    +Freddie Mac posts $5 billion loss
      NEW YORK (Reuters) - Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.

    +Berkshire Hathaway's net income triples
      NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

    +Regulators close Gateway Bank, Prosperan Bank
      WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.

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