Financial news on October 2nd, 2010

Business and Financial news
Changes on Reverse Mortgages Will Alter Fee Structure

The reverse mortgage product known as the Saver will nearly eliminate upfront costs, but will increase other charges. Read more..


Deal Near for ‘Hobbit’ Films in 3-D

A deal between Warner and MGM could allow the director to begin shooting J. R. R. Tolkien’s “Hobbit” next year. Read more..

By MICHAEL CIEPLY - The New York Times

G.M. Said to Scale Back I.P.O. Expectations

General Motors has reduced the expected size of its initial public offering from $12 billion to $8 billion, as the automaker faces difficult market conditions, The Financial Times reported. Read more..

By DEALBOOK - The New York Times

Good Job Offer, but What About the House?

Some executives offered job opportunities in new cities encounter daunting problems when trying to sell one house and buying a new home in a bad housing market. Read more..

By PAUL SULLIVAN - The New York Times

In Comments, Fed Officials Signal New Economic Push

The Fed appears increasingly likely to resume large-scale purchases of Treasury securities after the Nov. 2 midterm elections. Read more..

By SEWELL CHAN - The New York Times

New Models Help Sales for Automakers

While sales were up, overall demand continued to be lower than automakers had expected it to be at this point in the recovery. Read more..

By BILL VLASIC and NICK BUNKLEY - The New York Times

New Role Proposed for U.N. in Combating Global Warming

Rather than focus on a binding climate agreement, the United Nations should take a stronger role in making sure that countries promote cleaner energy sources, the former U.N. climate chief says. Read more..

By JAMES KANTER - International Herald Tribune

Nonprofit Group Wins Pepsi Contest

A nonprofit group that complained that Pepsi had allowed organizations with political agendas to participate in its online giving contest, Pepsi Refresh, won one of the two $250,000 prizes. Read more..

By STEPHANIE STROM - The New York Times

Repsol Sells 40% Stake to Chinese Oil Producer

The $7.1 billion deal will finance Repsol’s plan to develop offshore fields in Brazil. Read more..

By CHRIS V. NICHOLSON - The New York Times

Still Stuck in Denial on Wall St.

A hedge fund manager who feels beat up on — and can’t imagine why — might need a reality check. Read more..

By JOE NOCERA - The New York Times

See what else happened on October 2nd, 2010