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NY FED BUYS FANNIE, FREDDIE LOANS - 8 hours ago - The Federal Reserve Bank of New York has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market. The program allows the Fed to spend 500 billion to buy mortgage-backed securities guaranteed by 0133 : New London Day

Wall Street Open Stocks Rise Moderately - 5 hours ago - Investors waded back into the market Tuesday, sending stocks moderately higher ahead of a fresh round of readings on the service sector, factory orders and pending home sales. Wall Street expects the data to show more deterioration, but 0133 : Fox Birmingham

Israeli bombs hit school, Hamas rockets hit Israel - 4 hours ago - GAZA CITY, Gaza Palestinian medical officials say at least 12 people are dead in an Israeli airstrike outside a U.N. school in the northern Gaza Strip. It is the second deadly Israeli airstrike to hit a U.N. school in the past few hours. 0133 : Salt Lake Tribune

Sharp drop in small business loans - 3 hours ago - CNNMoney.com The credit freeze afflicting America's small businesses shows no signs of thawing. In the last three months of 2008, the Small Business Administration's flagship loan-guarantee program backed less than half the number of 0133 : CNN Money

PSU banks fear NPA rise as govt pushes for more loans - 2 hours ago - Finance Secretary Arun Ramanathan On Monday had a meeting with top officials from state-owned banks, including the State Bank of India, to review credit offtake during December 5-19. The government wants us to clear all proposals loans 0133 : Business Standard

Taiwan moves to save chipmakers - 3 hours ago - The Taiwanese government is moving closer to a 6bn bailout of the country's chipmakers who are suffering from the credit crunch and falling prices for DRAM despite production cuts. There are also rumours that the Taiwanese government could 0133 : Channel Register

Truckers stir to hit economy - 2 hours ago - Recently the country has faced adverse effect of inflation. Hike in prices of petroleum oil has badly hit the world economy. Global slowdown led to decrease in job opportunities. The increase in prices of petrol-diesel had jacked up 0133 : Central Chronicle

Jobless claims dive while mortgage rates ease again - 2 hours ago - WASHINGTON Reuters - U.S. weekly jobless claims plummeted last week but the improvement was probably a seasonal quirk rather than a turning point for the recession-ravaged labor market. Separate reports on Wednesday on business activity 0133 : AOL