Financial Freedom

AP - Sales of previously owned homes nudged up in November, but that didn’t improve the broader picture of a feeble housing market racked by record-high foreclosures and harder-to-get credit.

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Reuters - The pace of existing home sales
edged up in November from a record low, according to a report
on Monday that offered some tentative signs of stabilization in
the still-ailing housing market.

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Reuters - Projections for S&P 500 companies’
fourth-quarter earnings swung to a 6.1 percent drop on Monday
from an 11.5 percent rise on October 1, in the biggest
quarterly move since Reuters Estimates started compiling
analysts’ forecasts in 1999.

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An Adriatic fishing zone off Croatia prompts EU warnings of negative consequences.

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Reuters - Internet-based calling company Vonage
Holdings Corp said it has agreed to settle a patent
dispute with Nortel Networks with no payment of
damages, sending its share up more than 8 percent.

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FT.com - US stocks pared earlier losses but remained in negative territory in mid-morning trade on Monday, the last trading day of the year, as investors digested fresh data on the housing market.

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Reuters - Single-family home builder M/I Homes
Inc. said on Monday it has sold some Florida land to
reduce debt, and is exiting the West Palm Beach market in that
state, sending shares up 3 percent in early trading.

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AFP - Europe’s main stock markets fell in shortened trade on Monday — the final dealing day of a year in which gains for equities have been curtailed by worries about the troubled US economy.

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Reuters - As more banks report write-downs tied
to the global credit crunch, analysts say Wachovia Corp
may have losses lurking in an area that has garnered less
investor attention.

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The value of timber has been rising and private properties have been targeted by rogue loggers

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