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| Wall Street jumps on Coke and other defensive plays
(Reuters)
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 Reuters - Stocks rose for a second day on Wednesday as investors flocked to shares of Coke and other companies that hold up well in recessions following another round of disappointing economic data and corporate outlooks.
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| Congress briefed by auto companies on revamp plans
(Reuters)
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 Reuters - The chief executives of the major U.S. auto companies prepared on Wednesday for make-or-break congressional hearings on their request for $34 billion in government bailout loans, while lawmakers considered options including one or more of the Detroit Three going bankrupt.
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| Private jobs, services slump show recession toll
(Reuters)
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 Reuters - Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.
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| U.S. working on affordable mortgage plan: sources
(Reuters)
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| Reuters - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on a 30-year mortgage by making fresh investments in those assets, sources familiar with the plan said on Wednesday. |
| Paulson said weighing bailout's next $350 billion
(Reuters)
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 Reuters - Treasury Secretary Henry Paulson is weighing whether to ask Congress for the remaining $350 billion of the financial bailout fund, with White House aides approaching President-elect Barack Obama's transition team about the idea, an Obama aide said on Wednesday.
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| Gulf stocks higher in quiet pre-holiday trading
(AFP)
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 AFP - Stock markets in the Gulf region closed higher on Wednesday in very quiet trading as investors began preparing for a long Muslim holiday ending in Eid Al-Adha.
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| SEC adopts new rules for credit-rating agencies
(AP)
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| AP - Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street's credit-rating industry, widely faulted for its role in the subprime mortgage debacle and ensuing credit crisis. |
| Financial industry pushes for lower mortgage rates
(AP)
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| AP - Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market. |
| Online retailers see surge on 'Cyber Monday'
(AP)
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 AP - Like their counterparts at the malls, online merchants finally got some relief with the unofficial start of the holiday shopping season, spurred by a bevy of deals and free shipping offers. But the stronger-than-expected bump in online sales Monday couldn't cancel out a lackluster November.
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