NOT BUYING IT: Traders believe the Fed is underestimating the fallout from the housing slump and bank writedowns of assets pummeled by subprime defaults
US Federal Reserve Chairman Ben Bernanke's plan to increase transparency may have little short-term sway over investors who see financial carnage that will force the Fed to cut interest rates further.

[ FULL STORY ]

TIME IS MONEY: Google Inc is concerned that a lengthy investigation into its planned purchase of DoubleClick could cause it to lose ground to rivals
EU antitrust regulators launched an in-depth probe on Tuesday into Google Inc's US$3.1 billion bid for online ad tracker DoubleClick, saying an initial investigation showed the deal would raise competition concerns.

[ FULL STORY ]

The US and Europe, embroiled in perhaps the biggest commercial dispute ever, may be unable to reach a settlement on government support for rival plane makers Boeing Co and Airbus for another two years, or even longer, the EU trade chief said on Tuesday.

[ FULL STORY ]

Global banks are likely to be hit with hefty losses of up to US$400 billion stemming from mortgage investments that have soured in the US housing slump, according to an industry report.

[ FULL STORY ]

Lawmakers submitted a bill yesterday calling for an independent investigation into escalating allegations of bribery at Samsung Group, saying they cannot trust state prosecutors who allegedly took kickbacks from the largest South Korean conglomerate.

[ FULL STORY ]

NOT ALL BAD NEWS: The National Association of Realtors said sales will rise slightly next year to 5.69 million, but that is down from last month's estimate
Sales of existing homes in the US are forecast to decline to a five-year low this year, a trade group for real estate agents said on Tuesday, and the outlook for next year is worsening.

[ FULL STORY ]