Financial news on November 29th, 2008

Business and Financial news
All Eyes on Holiday Shopping Turnout in Bleak Economy

The nation’s retailers are facing weak sales, reluctant customers and the prospect of the worst holiday shopping season in decades. Read more..


Americans Have Lost Their Appetite for Spending

As the holiday shopping season begins, consumers in America say they are less interested in consuming than at any other time in the past four decades. Read more..

By FLOYD NORRIS - The New York Times

Andrew J. McKelvey, 74, Builder of, Dies

Mr. McKelvey jumped into Internet commerce as the executive who built into the leading job recruitment Web site. Read more..

By STEVE LOHR - The New York Times

A Rookie Reports From the Syracuse Sidelines

Harry Hurt III takes a turn at sportscasting for ESPN during a football game between Syracuse University and the University of Connecticut. Read more..

By HARRY HURT III - The New York Times

Britain Hopes to Lure Shoppers With Weak Pound

Compared to last year, the British pound has dropped substantially, with retailers hoping to lure American tourists while also enticing Britons to shop at home. Read more..

By JULIA WERDIGIER - The New York Times

Drug Company Withdraws Application

Eli Lilly withdrew its application for approval of the antidepressant Cymbalta as a treatment for chronic pain, after regulators questioned whether the drug was shown to work for that purpose. Read more..

By BLOOMBERG NEWS - The New York Times

Fears That a Weakened British Pound May Grow Weaker

Some in Britain fear that the government’s plan to borrow and spend to counter the current recession may lead to a run on the pound. Read more..

By LANDON THOMAS Jr - The New York Times

Goldman Sachs Gets N.Y. Banking License

Goldman Sachs Group won approval for a New York State banking license to transform into a bank holding company and take deposits. Read more..

By BLOOMBERG NEWS - The New York Times

Out of the Spotlight, an Industry Copes With Crisis

A Chicago-based truck dealership is seeing the effects of the credit crisis far more clearly than most policy makers. Read more..

By JOE NOCERA - The New York Times

TV Sales Becoming Litmus Test for U.S. Economy

The television market offers a glimpse of the broader tensions between cautious consumers and desperate retailers. Read more..

By MATT RICHTEL - The New York Times

See what else happened on November 29th, 2008