Stocks erase losses on Fed promise of low rates

Stocks turned mixed Wednesday afternoon, erasing earlier losses, after the Federal Reserve said it will keep interest rates near zero for much longer than it had previously announced. Demand for ultra-safe Treasurys soared, pushing bond yields lower.
The Fed’s monetary policy committee said it is unlikely to raise interest rates before 2014, extending a period of […]

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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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Troubled Kodak creates new business structure

Struggling Kodak is seeking to simplify its structure and cut costs by reducing the number of its business segments from three to two. Shares shot up 34 percent in premarket trading.
Eastman Kodak Co., once a photography pioneer, was pummeled by consumers’ switch to digital. Its fortunes deteriorated further last year, and it said in November […]

Irish-Backed Bank Bonds Tempt Buyers Again - Bloomberg

Ireland, whose financial system came closer to collapse than that of any euro nation, may now entice investors back to its bank bonds.
Bank of Ireland Plc (BKIR)

Indonesian Inflation Slows, Giving Central Bank Room to Cut Interest Rates - Bloomberg

Indonesia

Japan to Double Sales Tax by 2015 as Noda Fights Off Ruling Party Revolt - Bloomberg

Japan

What the payroll tax deal will do

Well, that was painful.
The House and Senate on Friday finally approved and President Obama signed into law a short-term extension of the payroll tax cut and federal unemployment benefits, and staved off a steep cut in pay to Medicare doctors.

But, once again, Congress took a tortured path. And on legislation that, in the scheme […]

In 2012 race, both sides seek middle-class voters

Fighting to win over unhappy American voters, President Barack Obama and his Republican challengers are seizing on one of the most potent issues this election season: the struggling middle class and the widening gap between rich and poor.
Highlighted by the Occupy movement and fanned by record profits on Wall Street at a time of stubborn […]

White Castle to serve booze?

COLUMBUS, Ohio • The White Castle hamburger chain is sipping on the idea of selling alcoholic beverages at its restaurants.
The 90-year-old company is testing beer and wine sales at a location in Lafayette, Ind., that combines a traditional White Castle burger joint with a Blaze Modern BBQ, a new restaurant concept also being tried out.
“White […]

Stocks sell off as banks tank

U.S. stocks closed sharply lower Monday as bank shares took a beating amid fresh concerns about the debt crisis in Europe.
The Dow Jones industrial average () fell 100 points, or 0.8%, to end at 11,766. The S&P 500 () sank 14 points, or 1.2%, to 1,205. The Nasdaq () slid 32 points, or […]