The Malaysian Insider

WASHINGTON, Nov 7 — US President Barack Obama yesterday listed a range of fresh options being considered by the White House to spur growth after "sobering" news that unemployment spiked to a 26½-year peak last month.

Obama, who earlier signed a Bill to extend jobless benefits and a homebuyer tax credit, said his team was studying new spending on roads and bridges, business tax cuts, refitting buildings to make them more energy efficient, easing the flow of credit to small businesses and boosting US exports.

NEW YORK, Nov 7 — Warren Buffett's Berkshire Hathaway Inc yesterday said third quarter net income tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

Results were announced three days after Buffett revealed the biggest acquisition in his 44 years running Berkshire, a US$26 billion (RM91 billion) takeover of Burlington Northern Santa Fe Corp. Berkshire had already owned 23 per cent of the nation's second-largest railroad operator.

NEW YORK, Nov 7 — Freddie Mac, the second largest provider of US residential mortgage funding, yesterday posted a loss of US$5 billion (RM17.5 billion) in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.

Increases in the value of securities Freddie Mac held over the period helped buoy its net worth, however, erasing its need to tap government funds for a second straight quarter to stay solvent while continuing to buy and guarantee home loans.

SINGAPORE, Nov 7 — The Singapore government yesterday fired a clear signal that it intends to keep private homes affordable by announcing its land sales programme for the first half of 2010 earlier than expected.

The 10 new residential sites introduced through the confirmed and reserve lists will allow developers to build many more homes — some of these in executive condominiums (ECs). There will also be more plots in less pricey regions.

KUALA LUMPUR, Nov 6 — The main objective of the fourth edition of Malaysia 1000 is to rank and identify the country’s top 1,000 corporations, said chairman of BASIS Group of Companies, Tan Sri Abu Hassan Omar.

“The directory contains comprehensive information on the cream of Malaysian companies covering a wide range of corporate and industrial sectors,” he said at the launch of the Malaysia 1000 by Minister of International Trade and Industry, Datuk Mustapa Mohamed here today.

In his speech, Mustapa said the book is very informative and comprehensive.

He also said the government will not sideline local investments although it has been promoting foreign investments in the country.