Snow slows holiday sales across East Coast
A major East Coast snowstorm kept shoppers home on Super Saturday, lowering overall holiday sales. ShopperTrak says sales dropped 12.6 percent year over year with a 12.4 percent decline in foot traffic, while the weekend totals fell to 18.8 billion. Retailers Tar get Corp and Toys R Us extended hours to capture late shoppers.
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Target Corp
Toys R Us
ShopperTrak
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Mother Nature
Bill Martin
ShoppertTrak
Martin
FDA finds no proof Vytorin raises cancer risk
FDA reviewed data from the SEAS and two other studies and found no evidence linking Merck and Co. cholesterol drug Vytorin to a higher cancer risk or cancer deaths. The agency cannot entirely rule out a link, but no proof exists. Merck spokesman welcomed the FDA conclusions regarding the drug.
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Merck & Co
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Merck
Ron Rogers
Vytorin
Zetia
Zocor
Tax credit boosts home sales as buyers rush in
U.S. housing activity jumped in November with sales of existing homes at a multi year high as first time buyers used an 8000 tax credit. economists warn the boost may fade once the deadline and Fed support end though April 30 extensions extend the window. About 2 million buyers have used the credit so far with 2.4 million expected by mid next year.
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Stephanie Somers
Re/Max Access
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Real Estate Recovery
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Michelle Meyer
Barclays Capital
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RDQ Economics
Gary DeRosa
ZipRealty Inc
Seattle
Realtors Group
Obama eases up on smaller banks plea to help lending
President Obama met with 12 regional bankers and officials to discuss easing regulation and boosting small business lending. He praised community banks as community pillars and listened to their capital access concerns, noting regulators’ independence while saying his administration will consider cutting red tape.
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Obama
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German American Bancorp Inc
Jasper
Ind
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