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  • Profits soar at 2 largest mortgage lenders Friday, 12 Oct 2012 | 5:03 PM ET

    The country's two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits. JPMorgan CEO Jamie Dimon declared that the housing market "has turned the corner." JPMorgan wrote $47 billion in mortgages, compared with $37 billion last year.

  • Ludovic Lefebvre says he is done with pop-ups Friday, 12 Oct 2012 | 5:01 PM ET

    NEW YORK-- Ludovic Lefebvre can stomach just one more bite. After five years of LudoBites _ hugely popular guerrilla-style, short-lived eateries held mostly around Los Angeles _ Lefebvre says he is done with so-called pop-up restaurants. By the end of the year, he plans to pop up _ and stay put _ with a new and permanent Los Angeles restaurant.

  • Buffeted by debt crisis, EU wins Nobel Peace Prize Friday, 12 Oct 2012 | 5:01 PM ET

    Then, out of the blue, after three years of back-biting and seemingly daily financial crisis, the European Union won the Nobel Peace Prize for fostering peace on a continent long ravaged by war.

  • At a Glance: Oil falls below $92 per barrel Friday, 12 Oct 2012 | 4:52 PM ET

    NEW YORK-- The price of oil dropped Friday after a new report predicted a slower pace of growth in demand for oil, overshadowing concerns about unrest in the Middle East. On the New York Mercantile Exchange:. _ Benchmark oil fell 21 cents to end at $91.86 per barrel.

  • Eric Clapton's Richter sells for $34.2 million Friday, 12 Oct 2012 | 4:51 PM ET

    LONDON-- A Gerhard Richter painting owned by Eric Clapton has sold for 21.3 million pounds, handily beating pre-sale estimates and setting a new auction record for the German abstract artist.

  • Losses in Conn. fraud could total $600 million Friday, 12 Oct 2012 | 4:42 PM ET

    HARTFORD, Conn.-- Documents filed in the criminal case against a Venezuelan-American financier say losses from a Connecticut- based fraud scheme could total as much as $600 million.

  • Countries ranked by gov't debt as percent of GDP Friday, 12 Oct 2012 | 4:42 PM ET
  • Southern California home prices rise in September Friday, 12 Oct 2012 | 4:41 PM ET

    SAN DIEGO-- Southern California home prices posted a sixth straight annual increase in September as buying shifted to more expensive houses along the coast and the supply of heavily discounted foreclosed properties dwindled, a research firm reported Friday.

  • Industry sues over NYC crackdown on sugary drinks Friday, 12 Oct 2012 | 4:38 PM ET

    NEW YORK-- Soda makers, restaurateurs and other businesses sued Friday to try to block the city's unprecedented move to restrict sales of super-sized, sugary drinks, an effort the city called a coup for public health but the industry views as unfair and undemocratic.

  • On the Call: Wells Fargo CEO John Stumpf Friday, 12 Oct 2012 | 4:21 PM ET

    Wells Fargo said Friday that its third-quarter net income and revenue rose as the bank increased consumer lending and collected more fees. In a call with analysts, Wells Fargo Chairman, President and CEO John Stumpf explained why interest income might not be such a grave threat.

  • Earnings Preview: Mattel to report 3Q results Friday, 12 Oct 2012 | 4:13 PM ET

    NEW YORK-- Analysts expect that Mattel Inc.' s third-quarter net income and revenue to rise as shoppers snap up its Monster High and Barbie dolls, among other toys, ahead of the busy holiday season.

  • Stock market has its worst week since June Friday, 12 Oct 2012 | 4:11 PM ET

    Major indexes closed little changed on Wall Street Friday. Banks fell after Wells Fargo missed analysts' revenue estimates. Falling stocks outnumbered rising ones nearly two-to-one on the New York Stock Exchange.

  • News Summary: Investors mull candidates' tax plans Friday, 12 Oct 2012 | 3:57 PM ET

    CHANGE INEVITABLE: With the outcome of next month's presidential election increasingly hazy, here's a shred of clarity that investors can cling to: The tax rates they pay on investment income like stock profits and dividends are almost certain to change.

  • Ninetowns shares jump after CEO-led buyout offer Friday, 12 Oct 2012 | 3:53 PM ET

    NEW YORK-- Shares of China's Ninetowns Internet Technology Group Co. jumped on Friday after the company said it had received a preliminary, non-binding proposal from a group including the chief executive to take the company private.

  • How would candidates' tax plans affect investors? Friday, 12 Oct 2012 | 3:52 PM ET

    WASHINGTON-- With the outcome of next month's presidential election increasingly hazy, here's a shred of clarity that investors can cling to: The tax rates they pay on investment income like stock profits and dividends are almost certain to change.

  • News Summary: Wheat falls on weekend rain forecast Friday, 12 Oct 2012 | 3:48 PM ET

    AG DRAIN: Wheat prices fell 3.3 percent as weekend storms are expected to deliver much-needed moisture to fields in part of the growing region. SLUGGISH OIL: Oil prices fell after the International Energy Agency predicted a slower pace of growth in demand over the next five years.

  • Ranking countries by their government debt to GDP Friday, 12 Oct 2012 | 3:34 PM ET
  • US budget deficits, and 1 surplus, dating to 2001 Friday, 12 Oct 2012 | 3:27 PM ET
  • Wheat falls on forecast for rain in the Midwest Friday, 12 Oct 2012 | 3:24 PM ET

    Wheat for December delivery fell 29.25 cents to finish at $8.5675 per bushel. The weekend rains are expected to help winter wheat crops that have been plagued by dry weather in western Kansas, western Nebraska and eastern Colorado.

  • XenoPort extends slump after analyst's downgrade Friday, 12 Oct 2012 | 3:24 PM ET

    NEW YORK-- Shares of XenoPort Inc. fell Friday after a Piper Jaffray analyst downgraded the stock, saying the company's experimental multiple sclerosis drug is years away from marketing approval or a development partnership.