Jobless claims are down slightlythis week to 631,000, from 643,000 the prior week, a change of -1.8%, but still a negative sign for the economy, moving the market south. Many analysts point to the US auto industry as a source of many lay offs. Nationally, the unemployment rate now stands at 8.9 percent, according to Barron's Econoday. Things are tough on the other side of the Atlantic as well; S&P just lowered its outlook on Britain from stable to negative. The full story is linked below with other news around the world:
S&P: Britain's outlook is "negative:" NYT
Northrop Grumman (NOC) raises its dividend: RTT News
IMF: Britain may have to nationalize more banks: Telegraph
Without Fiat deal, Chrysler may close all dealerships: Daily Finance
Perdigao (PDA) will take over Sadia (SDA): Bloomberg
Petrobras (PBR) gets $10 billion loan from China: Brazzil Magazine
Recession killing-off shopping malls: WSJ
Florida's BankUnited - this year's biggest failure: Forbes
3 companies with 'safe' dividends: Money Morning
Home prices drop 19.1% over last year: WSJ
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