Business news for Thu, 29 Nov 2007 & with word expected. 42 news.

WASHINGTON -- The economy barreled ahead in the summer, growing at a 4.9 percent pace. The performance was the strongest in four years but isn't expected to last through the current quarter amid the housing slump and credit crunch. Sales of new homes edged up in October but sales activity still...

Get ready for big capital gains taxes on mutual funds this year.

The chief executive breaks the company's financial silence with analysts by enticing them with new PC and server offerings that are expected to generate buzz among consumers.

FOREIGN developers and corporations will start to pay a land-use tax from next year in Shanghai, according to a notice issued by the city government. The land-use tax will range between 1.50 yuan and 30 yuan (US$4.06) per square meter per year depending on the size and location of the property, the notice said late on Wednesday. Foreign companies are exempted from the tax before the notice takes effect but they still need to pay certain fees for land use. Domestic companies have been paying the tax since 1988. Individuals are exempt from the tax on their residences. The new policy means that developers have to pay tax for the land approved by authorities for construction of property projects. The move is widely expected to add costs to developers which are hoarding land in order to fetch higher selling prices in the future. "The tax won't affect the city's housing prices since it has been imposed for many years," said Xue Jianxiong, head of research at Shanghai

AP - The deteriorating housing market forced the White House to lower its projection for economic growth next year and raise its forecast for unemployment. Inflation was expected to moderate.

The economy was robust before the credit crisis hit this fall, growing at nearly a 5 percent rate,...

The Bush administration said the U.S. economy is growing faster than expected in 2007, but weaker productivity is lowering growth potential for 2008 and beyond.

The deteriorating housing market forced the White House to lower its projection for economic growth next year and raise its forecast for unemployment. Inflation was expected to moderate.

SAN FRANCISCO (MarketWatch) -- Natural gas futures erased earlier gains Thursday after data showed U.S. inventories fell less than expected in the latest week. Natural gas futures for January delivery were last down 1.9 cents, or 0.3%, to $7.465 per million British thermal units. Earlier they rose to an intraday high of $7.676. The U.S. Energy Information Administration reported on Thursday U.S. natural gas storage fell 12 billion cubic feet in the week ending Nov. 23, less than the decline of 17 billion cubic feet that analysts at Global Insights were expecting. Natural gas inventories stood at 3,528 billion cubic feet in the latest week, 106 billion cubic feet higher than last year at this time and 301 billion cubic feet above the 5-year average, the EIA said.

The Bank of England is expected to keep rates on hold next week with a cut most likely in January or February. Futures markets expect rates to fall from 5.75% to 5.25% next year

Tribune's $8.2 billion buyout backed by real estate mogul Sam Zell looks set to clear another hurdle after a top government regulator proposed to grant waivers the media giant needs to complete the deal. Federal Communications Chairman Kevin...

The pace of new home sales were much weaker than expected in October even as prices tumbled, according to the government's latest reading on the battered housing and home building markets.

AP - The economy barreled ahead in the summer, growing at a 4.9 percent pace. The performance was the strongest in four years but isn't expected to last through the current quarter amid the housing slump and credit crunch. New-home sales edged up in October but sales activity still hovered near an 11-year low.

The economy barreled ahead in the summer, growing at a 4.9 percent pace. The performance was the strongest in four years, but isn't expected to last through the current quarter amid the continuing housing slump and credit crunch. New-home sales edged up in October but sales activity still hovered near an 11-year low.

WASHINGTON (MarketWatch) - Builders slashed prices at the fastest pace in 26 years in October, boosting sales of new homes from a much lower level of sales in September than was originally reported, according to Commerce Department data released Thursday. Sales rose 1.7% to a seasonally adjusted annual rate of 728,000 in October from a downwardly revised 716,000 in September, which was a 11-year low. September's sales pace was originally reported as 770,000. August's sales were also revised sharply lower to 717,000 from 735,000 estimated a month ago, and 795,000 estimated in the first release. Sales are down 23.5% in the past year. The October sales pace was much weaker than the 740,000 expected by economists surveyed by MarketWatch.

Commerce Department reports 4.9% growth rate; performance not expected to continue The economy barreled ahead in the summer, growing at a 4.9 percent pace. The performance was the strongest in four years, but isn't expected to last through the current quarter amid the continuing housing slump and credit crunch.

WASHINGTON (MarketWatch) -- Freddie Mac will limit its recently announced $6 billion stock offering to non-convertible, non-cumulative perpetual preferred stock. Freddie no longer plans to offer convertible non-cumulative perpetual preferred stock. The offering is expected to price in the near term, Freddie Mac said Thursday. The company is offering the stock in an effort to raise capital following a big loss in the third quarter. Shares of the mortgage buyer were recently up 4% to $30.54.

SAN FRANCISCO (MarketWatch) - Technology stocks opened mostly flat Thursday morning, as the broader market declined shortly after the opening bell. The tech-heavy Nasdaq Composite Index , the Morgan Stanley High Tech 35 Index and the Philadelphia Semiconductor Index were all trading down fractionally. The Dow was off about 24 points. Dell Inc. , which is expected to report third-quarter results today, was up more than 1% on Wall Street projections of a 17% earnings growth.

The economy barreled ahead in the summer, growing at a 4.9 percent pace. The performance was the strongest in four years, but isn’t expected to last through the current quarter amid the continuing housing slump and credit crunch.

Zimbabwe's food import bill is expected to more than double in 2007, Finance Minister Samuel Mumbengegwi says.