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• Stocks seek direction after Fed and elections (Reuters)
• U.S. and China step back from tussle on economic policy (Reuters)
• Bernanke answers Fed's global critics (Reuters)
• Obama rejects view of India as "land of call centers" (Reuters)
• Oil price rise not threat to global recovery: IMF (Reuters)
• FTSE up 0.41 percent (AFP)
• China, India, Brazil become 'major players' at IMF (AP)
• Fannie Mae asks for $2.5 billion in new US aid (AP)
• Sarkozy takes non-confrontational tone with Hu (AP)
• AP Exclusive: New Kan. gov. eyes income tax cuts (AP)
• IMF writes new page in history of its reform (AFP)
• Fresh Market stock surges in its trading debut (AP)
• BofA, Citi, Wells warn of mortgage lawsuits (AP)
• BP to sign exploration deal with Chinese company: report (AFP)
• Obama to GOP: Let's extend middle-class tax cuts (AP)
• Kuwait may buy GM stocks: investment chief (AFP)

Stocks seek direction after Fed and elections (Reuters) Posted: 06 Nov 2010 04:32 AM PDT Reuters - Wall Street navigated through three major landmines this week -- the elections, the U.S. Federal Reserve meeting and jobs report -- with barely a scratch. Now what?

U.S. and China step back from tussle on economic policy (Reuters) Posted: 06 Nov 2010 03:51 AM PDT Reuters - The United States and China on Saturday appeared to take a step back from mounting criticism of each other's economic policies, but Beijing made clear it was still wary of Washington's latest move to print more money.

Bernanke answers Fed's global critics (Reuters) Posted: 05 Nov 2010 03:28 PM PDT Reuters - Federal Reserve Chairman Ben Bernanke on Friday defended the U.S. central bank's bond-buying against beggar-thy-neighbor criticism, saying the return to a strong U.S. economy was critical for global stability.

Obama rejects view of India as "land of call centers" (Reuters) Posted: 06 Nov 2010 06:28 AM PDT Reuters - President Barack Obama hailed India on Saturday as a vital source of U.S. growth and jobs as his administration announced relaxation of U.S. export controls to spur trade between the two countries.

Oil price rise not threat to global recovery: IMF (Reuters) Posted: 06 Nov 2010 07:07 AM PDT Reuters - The International Monetary Fund does not see a rise in oil prices as a threat to the global economic recovery and will closely monitor a new round of U.S. policy easing, a senior IMF official said on Saturday. "No, it seems that in the current environment the energy prices seem to be responding to strengthening growth certainly relatively close to a range that has appeared consistent with continued expansion in the global economy," first managing director John Lipsky told reporters on the sidelines of a meeting of Gulf policymakers in Kuwait.

FTSE up 0.41 percent (AFP) Posted: 05 Nov 2010 01:24 AM PDT AFP - Stocks rose at the start of trading on Friday, with the benchmark FTSE 100 index up 0.41 percent to 5,886.70 points.

China, India, Brazil become 'major players' at IMF (AP) Posted: 05 Nov 2010 06:18 PM PDT AP - China and India received long-sought recognition Friday as global economic heavyweights as the International Monetary Fund gave them and other emerging powers a significantly larger role in stabilizing the world economy.

Fannie Mae asks for $2.5 billion in new US aid (AP) Posted: 05 Nov 2010 07:43 PM PDT AP - Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in additional federal aid after posting a narrower loss in the third quarter.

Sarkozy takes non-confrontational tone with Hu (AP) Posted: 05 Nov 2010 01:43 PM PDT AP - World leaders should avoid playing the blame game in discussions about how currencies such as China's undervalued yuan are affecting trade and the global economy, President Nicolas Sarkozy told his Chinese counterpart Friday during talks on the French Riviera.

AP Exclusive: New Kan. gov. eyes income tax cuts (AP) Posted: 05 Nov 2010 02:14 PM PDT AP - Kansas Gov.-elect Sam Brownback said Friday he's looking for bold action on taxes next year and sees lowering the state's individual income taxes as crucial for economic growth.

IMF writes new page in history of its reform (AFP) Posted: 06 Nov 2010 03:04 AM PDT AFP - The International Monetary Fund has decided to double its capital and adopted other reforms that will give China and other emerging-market economies a greater say in the financial institution.

Fresh Market stock surges in its trading debut (AP) Posted: 05 Nov 2010 09:29 AM PDT AP - Shares of food retailer The Fresh Market soared about 46 percent Friday in their first day of trading on the Nasdaq.

BofA, Citi, Wells warn of mortgage lawsuits (AP) Posted: 05 Nov 2010 01:00 PM PDT AP - Large U.S. banks are saying they could face rising costs related to litigation related to mortgage loans.

BP to sign exploration deal with Chinese company: report (AFP) Posted: 06 Nov 2010 08:40 AM PDT AFP - British oil giant BP is set to sign a major exploration deal with China's biggest offshore oil and gas producer when Prime Minister David Cameron visits Beijing next week, a report said on Saturday.

Obama to GOP: Let's extend middle-class tax cuts (AP) Posted: 06 Nov 2010 06:39 AM PDT AP - President Barack Obama is appealing to victorious Republicans to go along with his plan to extend tax cuts for the middle class, saying the election is over and it's time to down to business.

Kuwait may buy GM stocks: investment chief (AFP) Posted: 06 Nov 2010 07:36 AM PDT AFP - Kuwait Investment Authority, the oil-rich Gulf state's sovereign wealth fund, will take part in the US General Motors new stock offering if it is "feasible," the KIA chief said on Saturday.

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