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11/03/2009 2:00 PM

Afternoon Business Brief

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Stock prices have failed to rally so far Tuesday.  Investors appear to be taking a pause ahead of a Federal Reserve announcement Wednesday and the jobs report on Friday.

  • The government says orders to U.S. factories surged in September. The gain of 0.9 percent was helped by strength in autos, heavy machinery and military aircraft.
  • Warren Buffett is betting on the railroad business and the U.S. economy. His Berkshire Hathaway has agreed to buy Burlington Northern Santa Fe in a $34 billion deal.
  • General Motors says October sales rose 4.7 percent over the same month last year. Ford reported a 3 percent increase, while Chrysler sales dropped 30 percent from October 2008.
  • President Barack Obama's top budget official promises the administration will try next year to bring the
    skyrocketing budget deficit under control. Budget director Peter Orszag said the country faces a "serious" and "unsustainable" deficit problem.
     





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