Detroit's Home Federal Savings 117th bank failure
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Fri 6:22 pm ET
The Office of Thrift Supervision on Friday shut down Home Federal Savings Bank of Detroit, Michigan, making it the 117th bank closure of 2009. All deposit accounts have been transferred to Liberty Bank and Trust Company of New Orleans, Louisiana.
Berkshire to borrow $8B to pay for Burlington
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Fri 6:04 pm ET
Berkshire Hathaway said late Friday that it plans to borrow roughly $8 billion to help the company pay for its acquisition of railroad operator Burlington Northern Santa Fe . Berkshire agreed earlier this week to pay $26 billion for the rest of Burlington it doesn't already own.
Berkshire quarterly net income more than doubles
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Fri 5:22 pm ET
Berkshire Hathaway said late Friday that third-quarter net income more than doubled as the insurance-focused conglomerate run by Warren Buffett benefited from a rebound in the value of its large equity investments and derivatives exposures.
Georgia's United Security year's 116th failed bank
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Fri 5:20 pm ET
United Security Bank of Sparta, Ga, became the 116th U.S. bank of the year to fail, according to the Federal Deposit Insurance Corp. on Friday. Ameris Bank of Moultrie, Ga. will purchase the bank's assets and assume all of the deposits at a 0.36% premium.
Freddie Mac narrows quarterly loss
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Fri 5:16 pm ET
Freddie Mac late Friday reported its third-quarter net loss attributable to Freddie Mac narrowed to $5.01 billion from a loss of $25.3 billion in the same quarter a year earlier. After payment of $1.3 billion dividend on its senior preferred stock to the Treasury Department, Freddie Mac's net loss attributable to common stockholders was $6.3 billion, or $1.94 a share.
Sun Microsystems narrows first-quarter loss
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Fri 4:43 pm ET
Sun Microsystems Inc. said late Friday that its fiscal first-quarter loss narrowed to $120 million, or 16 cents a share, from $1.68 billion, or $2.24 a share, in the year-ago period.
U.S. stocks tally solid weekly gains
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Fri 4:21 pm ET
U.S. stocks closed with weekly gains of more than 3% after the October jobs report had unemployment rising to 10.2% but details included positive revisions. Industrials paced the day's modest gains, which had the Dow Jones Industrial Average adding 17.46 points, or 0.2%, to 10,023.42, with the blue chips up 3.2% for the week.
Consumer debt drops for record 8th straight month
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Fri 3:02 pm ET
Outstanding consumer debt fell at a 7.2% annual rate in September, the eighth consecutive decline, the Federal Reserve reported Friday. Consumer credit fell by $14.8 billion to $2.46 trillion in September, down 4.7% compared with a year ago.
Hedge funds lost 0.05% in October, HFR says
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Fri 2:47 pm ET
Hedge funds generated a small loss on average in October as this year's rally in equity and credit markets took a breather towards the end of the month, Chicago-based Hedge Fund Research said Friday.
Orlando shooting suspect apprehended, mayor says
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Fri 2:44 pm ET
The suspect in the shooting at an Orlando, Fla., office building that has left at least one person dead Friday is in custody, Mayor Buddy Dyer said. One person is confirmed dead and at least five are injured, according to Chief Val Demings of Orlando's police department.
Gold ends at new record, after topping $1,100
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Fri 2:20 pm ET
Gold futures for immediate delivery ended at a new record closing level on Friday, after news that the U.S. unemployment rate rose above 10% fueled expectations the Federal Reserve will keep easy money available at least well into next year.
Eight shot at Orlando office building: reports
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Fri 1:13 pm ET
At least eight people have been shot at a high-rise Orlando office building, according to media reports Friday. The suspect is reportedly still at large. It marks the second U.S. mass shooting in less than 24 hours following the rampage that killed 13 people at Fort Hood Army Base in Texas on Thursday.