Housing starts fell 4.1 percent in December

New construction of U.S. houses retreated in December, putting an end to a year in which builders broke ground on a record-low number of single-family homes, the Commerce Department estimated Thursday.
Housing starts fell 4.1 percent to an annualized rate of 679,000 last month, after a strong gain in November had put starts at their highest […]

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Vietnam Signals Cuts in Interest Rates as Asia

Vietnam signaled that it may cut policy interest rates to

Rate on 30-year fixed mortgage falls to 3.98 pct.

The average rate on the 30-year fixed mortgage hovered above its record low for a fourth straight week. But cheap mortgage rates have done little to boost home sales or refinancing.
Freddie Mac says the rate on the 30-year fixed loan fell to 3.98 percent from 4 percent the previous week. Seven weeks ago, it dropped […]

Clinton meets flood victims on quick Thailand trip

U.S. Secretary of State Hillary Rodham Clinton played with a toddler and asked a little girl if she misses school during a quick visit Thursday to an evacuation center for Thai flood victims, a day after announcing a $10 million aid package.
Clinton exchanged the traditional Thai greeting known as “wai” _ bowing deeply while pressing […]

Push for Pacific free trade block gains traction

Leaders working to forge a Pacific free trade bloc plan to announce an outline for achieving that goal at an annual Asia-Pacific summit this weekend, one of many initiatives aimed at keeping growth on track and fending off recession.
U.S. Trade Representative Ron Kirk ended a meeting of regional trade ministers with praise for Japan’s decision […]

Foreign vineyards keen to tap China wine market

As growth slows in their traditional markets, wine makers from around the world are eager to tap demand in China but industry players say the increased competition and a lack of wine drinking culture mean it won’t be easy money.
Thousands of people attending a major wine and spirits trade fair last week in Hong Kong […]

Revenues up at Torstar

Torstar Corp., publisher of the Toronto Star, reported higher revenues in its third quarter despite the challenging economy, the company said.
Revenue was $378.7 million for the three months ended Sept. 30, up $25 million from the year-earlier quarter, Torstar said Wednesday.
Earnings before interest, taxes, depreciation and amortization, commonly known as EBITDA, for the third […]

Air France-KLM board to meet Monday

An Air France-KLM official says directors of Europe’s largest airline will hold an extraordinary board meeting later Monday, amid reports the company’s chief executive will be replaced.
An Air France-KLM spokeswoman said the board meeting in Paris would take place around 4 p.m. (1400 GMT). She declined to comment on a report in French daily Les […]

TSX steps back after two days of strong gains

TORONTO

Big banks are healthier this go-round, but fears persist

The scariest thing about the recent stock market selloff has been the way investors are treating the major U.S. banks.
Shares of Bank of America and Citigroup have lost almost a third of their value in the past month, falling twice as much as the broad market averages. Wells Fargo, US Bancorp and PNC Financial Services […]