FT.com - A host of consumer-facing stocks look certain to be ejected from the FTSE 100 this month as the impact of the credit squeeze and fears of an economic and consumer spending slowdown feed through to the real economy.

AP - The Bush administration and the mortgage industry, trying to combat a massive wave of foreclosures, are hammering out a proposal to temporarily freeze interest rates on certain troubled subprime mortgages. If adopted, it would be the biggest action taken to cope with the unfolding crisis.

Reuters - The Dow and S&P 500 rose on Friday,
capping a dismal November with a four-day rally, as financial
stocks rallied on optimism over a proposed rescue for
struggling homeowners and on heightened expectations for more
interest-rate cuts.

AP - Federal Reserve policymakers should consider the impact of turbulent financial markets on the economy’s health when weighing interest rate decisions, a Fed official said Friday.

Reuters - Google Inc
said on Friday that the company would bid on coveted airwaves
to launch a U.S. wireless network, pitting it against
established telecommunications players AT&T and Verizon.

Reuters - Mobile phone maker Motorola Inc
said on Friday embattled Chief Executive Ed Zander will
step down after a year of disappointing earnings and market
share losses, raising investor hopes his successor, Greg Brown,
will turn the business around.

Reuters - Consumer spending inched up by an
unexpectedly small 0.2 percent last month and construction
spending tumbled, according to reports on Friday that
heightened concerns on the health of the economy.

Reuters - Sears Holdings Corp Chairman
Edward Lampert on Friday took the media and analysts to task
for underestimating the company, saying the retailer is being
criticized for the same practices that elicit praise when used
by its competitors.

FT.com - London stocks rose for the third day running on Friday, propelled by bid speculation in the mining sector, rising bank stocks, and a positive start on Wall Street.

Reuters - The Treasury Department is
finalizing a plan with mortgage industry leaders that will hold
interest payments steady for many subprime borrowers facing
higher rates and possible foreclosure.