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Democrats' health reform moves ahead after Harry Reid snares 60 votes
Democratic leaders secured the last two votes to move ahead on historic health care legislation, clearing the way for a Saturday night showdown on President Barack Obama's top domestic initiative. In long-awaited speeches, centrist Sens. Blanche Lincoln of Arkansas and Mary Landrieu of Louisiana said they would stand with their party and vote "yes" on the crucial test vote despite deep reservations with elements of the 2,074-page bill to remake the nation's health care system."The truth is this issue is very complex. There is no easy fix and it's imperative that we build on what's already working in health care in America," Lincoln told her Senate colleagues. Hours earlier, Landrieu had delivered her news. The two represent votes 59 and 60 for Senate Majority Leader Harry Reid, D-Nev. (pictured), who needs that many in the 100-member Senate to go forward. The Senate's 40 Republicans are unanimously opposed.
Stocks end lower as investors grow skittish about the rising dollar
The stock market ended a losing week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt. After two strong weeks, investors tried unsuccessfully to extend the market's rally after major stock indexes closed at 13-month highs on Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market's eight-month rally.Stocks fell for the third straight day Friday as a disappointing earnings report from computer maker Dell (DELL) weighed on technology shares. The Nasdaq composite index, with a big representation of tech stocks, logged the weakest performance of the major indexes for the week.
Dell profit falls 54%, missing forecasts and a tech recovery
Dell (DELL) said Thursday that its net income dropped 54% in the latest quarter amid signs the company isn't fully benefiting from the computer industry's fledgling recovery. Dell's numbers missed Wall Street's forecasts, and the shares fell almost 6% in extended trading.In the last quarter, Dell lost its ranking as the world's No. 2 personal computer maker, a slot now held by Taiwan's Acer Inc. Dell rivals such as Acer and Hewlett-Packard (HPQ) have stolen market share in part by exploiting their bigger presence in retail stores. That has been a big weapon because consumer interest in little laptops called "netbooks" has helped the PC industry start to pull out of its worst slump in years.
FAA glitch disrupts air travel nationwide
A problem with the FAA system that collects airline flight plans caused widespread flight cancellations and delays nationwide Thursday, the second time in 15 months that a glitch created such problems.
The Federal Aviation Administration said the problem was fixed around 10 a.m., but it was unclear how long flights would continue to be affected. Doug Church, a spokesman for the National Air Traffic Controllers Union, said controllers were still entering flight plans manually in some locations.
FAA spokesman Paul Takemoto said the problem started between 5:15 and 5:30 a.m. and affected mostly flight plans but also traffic management, such as ground stops and ground delays.
The Federal Aviation Administration said the problem was fixed around 10 a.m., but it was unclear how long flights would continue to be affected. Doug Church, a spokesman for the National Air Traffic Controllers Union, said controllers were still entering flight plans manually in some locations.
FAA spokesman Paul Takemoto said the problem started between 5:15 and 5:30 a.m. and affected mostly flight plans but also traffic management, such as ground stops and ground delays.
Retailer Sears posts second consecutive quarterly loss
Sears Holdings Corp. (SHLD) posted a smaller third-quarter loss Thursday because it cut costs and better matched inventory with falling sales.The news sent the retailer's stock up $2.80, or 3.7 percent, to $78.57 in premarket trading.
The company led by hedge fund financier Edward Lampert has struggled for years, with shoppers dwindling at its Sears and Kmart stores. But the retailer recently launched a major campaign to win over holiday shoppers - with measures like its new Christmas Club cash savings card good at Sears and Kmart stores - and capitalize on last year's successful holiday layaway program.
Stocks sag on drop in home construction and disappointing tech forecasts
Investors turned cautious Wednesday as an unexpected drop in home construction and disappointing forecasts from technology companies raised concerns about the pace of the economy's recovery. The modest drop came a day after major stock indicators closed at 13-month highs, including the Dow Jones industrial average, which has risen 9 of the past 10 days. Analysts said the quick ascent means the market is due for a rest.John Brady, senior vice president of global interest rate products at MF Global in Chicago, said as the end of the year approaches traders are looking foremost at preserving the gains amassed in an eight-month rally that has given the benchmark Standard & Poor's 500 index a gain of 22.9 percent for the year. In late afternoon trading, the Dow fell 29.02, or 0.3%, to 10,408.40. The broader S&P 500 index fell 2.50, or 0.2%, to 1,107.82, while the technology-heavy Nasdaq composite index fell 15.33, or 0.7%, to 2,188.45.
Ford, Subaru, Volkswagen top list of safest new vehicles
Ford, Subaru and Volkswagen sit atop the insurance industry's annual list of the safest new vehicles, according to a closely watched assessment used by car companies to lure safety-conscious consumers to showrooms.The Virginia-based Insurance Institute for Highway Safety awarded its "top safety pick" on Wednesday to 19 passenger cars and eight sport utility vehicles for the 2010 model year. The institute substantially reduced the number of awards compared with 2009, because of tougher requirements for roof strength.
Major indexes float to 13-month highs as commodity prices lift energy stocks
Major stock indexes managed to post modest gains Tuesday as higher commodity prices lifted energy and materials stocks. The advances were enough to push major stock indexes to new 13-month highs, though more stocks fell than rose at the New York Stock Exchange. The gains came after the market zigzagged for much of the day.A rebound in the dollar after three down days sapped investors' appetite for stocks. Higher oil prices lifted energy stocks, and trading volume remained light. Traders focused on retailers' earnings reports for insight into one of the market's biggest worries: how much consumers are spending.
Home Depot reports 8.9% profit drop in Q3, beats expectations
Home Depot Inc.'s third-quarter earnings fell 8.9 percent as the housing and renovation markets remained weak, the nation's largest home improvement retailer said Tuesday.The company also raised its full-year earnings outlook as the quarter's earnings topped expectations. CEO Frank Blake said the company has seen signs of stabilization in real estate and has added market share in the quarter.
GM posts $1.2 billion loss, to begin repaying U.S. aid next month
General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.The company also says it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It could pay off the full amount by 2011, four years ahead of schedule.
GM said its improved performance was fueled by new products including the Chevrolet Camaro muscle car, and the Chevrolet Equinox and GMC Terrain midsize crossover vehicles. The company's top sellers through October were the Chevrolet Silverado pickup truck and Impala full-size car.














































