Kodak breaking up with the Oscars

Eastman Kodak is trying to end its sponsorship of the Hollywood theater that bears its name and hosts the Academy Awards as part of the photography company’s bankruptcy process.
Kodak, which filed for Chapter 11 bankruptcy protection on Jan. 19, filed court documents on Wednesday requesting that it sever its contract with the Kodak Theatre […]

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Fed Needs Clear Low-Rate Pledge or

Federal Reserve Bank of Chicago President Charles Evans said the central bank needs a clear low- rate commitment or a third round of purchases of Treasuries and mortgage bonds to further stimulate a still struggling economy.
People outside the Fed have

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Zoo wants company to stop using chimps in TV ads

A Chicago zoo is mounting a campaign to stop a company from airing a Super Bowl Sunday commercial featuring mischievous suit-and-tie wearing chimpanzees playing tricks on their human co-worker, saying all that monkey business proves deadly for the endangered species.
Lincoln Park Zoo officials fear images of the frolicking chimps broadcast worldwide do little to help […]

Bernanke Moves Fed Toward More Openness - Bloomberg

Ben S. Bernanke achieved one of his primary goals as Federal Reserve chairman yesterday by setting a numeric goal for inflation, advancing his legacy of greater transparency at the world

Stocks open mixed ahead of Fed policy statement

Stocks are opening mostly lower ahead of a statement from the Federal Reserve and a news conference by its chairman.
The Fed will offer details Wednesday about how long it plans to keep interest rates very low. It also will release an economic forecast. Later, Fed Chairman Ben Bernanke will take questions from reporters.
Traders continue to […]

Iran dismisses sanction impact on currency

Iran said Tuesday that the steep depreciation in the country’s currency against the U.S. dollar was not linked to U.S. new sanctions targeting its Central Bank, while officials geared up for a meeting to assess possible measures to shore up the riyal in an already ailing economy.
Since President Barack Obama on Saturday signed into law […]

What might you buy this year?

EQUITIES
Analysts tend to favor large U.S. stocks. Things abroad are still too worrisome, they say.
Mark Keller, CEO of Confluence Investment Management, likes big stocks with dividends. On his list are Ferguson-based Emerson along with 3M, PepsiCo, Microsoft and Wal-Mart. “They’re reasonably priced, pay a nice dividend, and they have rising dividends,” he says.
“They might go […]

Ex-Fannie CEO Mudd leaves Fortress after SEC charges

Daniel Mudd is taking an immediate leave of absence from his role as CEO of investment firm Fortress Investment Group, less than a week after the Securities and Exchange Commission announced fraud charges against him and other former executives of Fannie Mae and Freddie Mac.
Mudd, who has headed Fortress () since August 2009, had […]

Home builder sentiment rises for third month: NAHB

+%3Cp%3E+Homebuilder+sentiment+perked+up+in+December+for+the+third+month+in+a+row%2C+to+its+highest+level+in+a+year+and+a+half%2C+the+National+Association+of+Home+Builders+said+on+Monday.%3C%2Fp%3E+%3Cp%3EThe+NAHB%2FWells+Fargo+Housing+Market+index+rose+to+21+from+a+downwardly+revised+19+in+November%2C+the+group+said.+Economists+polled+by+Reuters+had+predicted+a+reading+of+20.%3C%2Fp%3E+%3Cp%3EThe+index+was+at+its+highest+level+since+May+2010.%3C%2Fp%3E+%3Cp%3E%22While+builder+confidence+remains+low%2C+the+consistent+gains+registered+over+the+past+several+months+are+an+indication+that+pockets+of+recovery+are+slowly+starting+to+emerge+in+scattered+housing+markets%2C%22+NAHB+Chairman+Bob+Nielsen+said+in+a+statement.%3C%2Fp%3E+%3Cp%3EAfter+stagnating+in+a+tight+range+for+about+a+year%2C+the+index+has+been+improving+since+October%2C+giving+weight+to+analysts%27+views+that+the+housing+market+is+finally+finding+a+bottom.%3C%2Fp%3E+%3Cp%3EEven+with+December%27s+gain%2C+home+builder+sentiment+is+still+historically+low+and+well+below+the+50+mark%2C+indicating+more+builders+view+market+conditions+as+poor+than+favorable.+The+index+has+not+been+above+50+since+April+2006.%3C%2Fp%3E+%3Cp%3E%22We%27re+not+looking+for+numbers+next+year+to+come+anywhere+close+to+the+kind+of+numbers+that+we+saw+pre-recession%2C+but+we+do+think+the+housing+market+is+setting+up+for+a+plus+year+in+2012+in+terms+of+new+home+construction%2C+as+well+as+sales%2C%22+said+Steve+Blitz%2C+senior+economist+at+ITG+Investment+Research+in+New+York.%3C%2Fp%3E+%3Cp%3EThe+current+sales+component+rose+to+22+from+20%2C+while+the+gauge+of+sales+expectations+for+the+next+six+months+rose+to+26+from+25.%3C%2Fp%3E+%3Cp%3EThere+was+little+impact+in+financial+markets+from+the+data+as+investors+focused+on+developments+in+the+euro+zone+and+uncertainty+following+the+death+of+North+Korean+leader+Kim+Jong-il.%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fwww.reuters.com%2Fassets%2Fprint%3Faid%3DUSTRE7BI0ZA20111219%27+rel%3D%27nofollow%27%3ERead+more%3C%2Fa%3E%3C%2Fp%3E+

Homes sales are up, but prices still decline

The St. Louis home market seems to be going in two directions at once