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US Economy News

Wholesale prices plunge, easing inflation concerns (AP)

AP - Wholesale prices in October experienced the biggest one-month drop on records that go back more than 60 years, illustrating the impact falling energy prices and fears of a prolonged recession can have on inflation.

Treasury pays $33.56B to 21 banks (AP)

AP - The government said Monday it has supplied $33.56 billion to 21 banks in a second round of payments from the $700 billion rescue program, and announced a deadline for another 3,800 banks to apply for funds.

(AP)

AP - Treasury pays $33.56 billion to 21 banks in second round of disbursements from rescue fund.

Fannie, Freddie, home loan banks control $6.8T (AP)

AP - Federal housing finance agencies hold or guarantee $6.8 trillion in debt — the equivalent to more than half of the government's total debt.

Treasury bills fall to record lows at auction (AP)

AP - Interest rates on short-term Treasury bills fell in Monday's auction with rates on both three-month and six-month bills dropping to the lowest levels on record.

US Markets News

Stocks heads to lower open ahead (AP)

AP - Wall Street headed for a lower open Wednesday with investors worried about the economic fallout if Detroit's Big Three automakers are unable to persuade lawmakers to give them a $25 billion bailout.

HK stock index down nearly 1 percent (AP)

AP - Hong Kong shares edged lower in lethargic trade Wednesday as investors sold banks and developers.

China stocks rebound despite regional losses (AP)

AP - Chinese shares shrugged off losses elsewhere in Asia to rise Wednesday on a rally in refiners and renewed enthusiasm about a government stimulus package.

Banks weigh on European stocks again (AP)

AP - European stock markets headed lower Wednesday following losses in Asia, with worries about a global downturn weighing on banking and commodity stocks.

Stock futures sink ahead of data; autos eyed (Reuters)

Reuters - Stock futures pointed to a lower Wall Street open on Wednesday, signaling a reversal of Tuesday's gains. Dow Jones futures were down 1.4 percent, S&P 500 futures were down 1.5 percent and Nasdaq futures were down 2.2 percent at 4:30 a.m. EST.

Red Herring Media News

Amazon Enters Content Delivery Business

Online retailer continues to sell services based on its internal network of servers and data centers. This time it plans to undercut existing content delivery players.

Mobile Phone Industry to Weather Economic Woes

The cell phone market will be as close to recession-proof as any, analysts say.

New Yahoo CEO: Decker, Chernin or â€¦ Ballmer?

Departure of Jerry Yang seen as opening the door to reconciliation with spurned suitor Microsoft.

HP Results Buoy Stock

Shares rocket 14% as preliminary Q4 revenue numbers beat Wall Street estimates.

TiVo to Serve Domino's Pizza On Demand

TiVo and Domino's Pizza announce a partnership to serve TiVo subscribers with on-demand pizza from the comfort of their couch.

Digital Media Wire Video News

Watch Live Video From Future of Television East!

For those of you who can't make it to NYC this week for Future of Television East, we are pleased to announce that DMW has partnered with our friends at Proace, Web2point0.tv and Sparksight to provide live video coverage of the panels and keynotes. The event starts at approximately 1:30pm EST TODAY and the full schedule is posted here. The first two panels are free to watch and the remaining program can be purchased online.

In First, Web Series "Sanctuary" Gets Second TV Season Pick-up

Los Angeles - "Sanctuary," an online sci-fi series that was picked up for TV broadcast by NBC Universal's (NYSE: GE) Sci Fi Channel, became the first such program to be picked up for a second season last week, according to The Hollywood Reporter. The subscription-based, HD online series garnered 4 million viewers, and was later picked up by Sci Fi -- who paid its creators one-third what it normally pays for an original scripted series. The second season was picked up "on better financial terms and a string of international sales in such major territories as Canada, the U.K., Germany and France," THR reported.

MLB.com Dumps Microsoft Silverlight for Adobe's Flash

San Francisco - Major League Baseball Advanced Media announced that it has abandoned Microsoft's (NASD: MSFT) Silverlight video distribution platform and signed a two-year deal to instead use Adobe's (NASD: ADBE) Flash for its live and on-demand video offerings on MLB.com. The site will also provide an application built using Adobe AIR, that will provide additional features outside the Web browser.

Report: Chinese Pirates Crack Blu-ray Encryption

Los Angeles - Police in China conducting a recent raid on a movie pirating facility found what the Motion Picture Association International (MPAI) deemed to be the first pirated Blu-ray movie discs, The Wall Street Journal reported.

National Geographic Launches Video Game Division

Washington - Hoping to extend its brand to a younger audience, Washington-based National Geographic on Tuesday announced the launch of a new division that will develop and publish video games based on the organization's core themes and media properties.

Digital Media Wire Internet News

Glam Media Debuts Applications Network

New York - Glam Media, a network of over 700 sites arranged by various content verticals, on Tuesday launched the Glam Applications Network, a platform that allows brand ad-enabled applications and widgets to be integrated into websites and blogs. Developer partners at launch include Sphere, Meebo, BuzzFeed, PollDaddy and PicApp.

DivX Sues Yahoo for Breach of Advertising Contract

New York - DivX (NASD: DIVX), a developer of video compression technology, has filed suit against Yahoo (NASD: YHOO) alleging breach of an advertising deal between the companies, Reuters reported.

Social Network Multiply Gets $5 Million Equity Investment

Boca Raton, Fla. - Multiply, a social network with 10 million members, has received a $5 million equity investment from Filipino media company ABS-CBN, Business Mirror reports.

Casual Collective Gets $1 Million Seed Funding for Social Games

Berkshire, England - Casual Collective, a developer of social online games, announced that it has received a $1 million seed investment from Lightspeed Venture Partners.

Report: Hulu's U.S. Ad Revenues to Equal YouTube's Next Year

London - Hulu, the video site joint venture between News Corp. (NYSE: NWS) and NBC Universal (NYSE: GE), is expected to generate as much advertising revenue as Google's (NASD: GOOG) YouTube in the U.S. next year, the Financial Times reported, citing Screen Digest analyst Arash Amel.

Digital Media Wire Mobile News

Virgin Mobile USA Cutting 45 Jobs, 10% of Workforce

Warren, N.J. - Virtual mobile network operator Virgin Mobile USA announced on Monday that it is eliminating about 45 positions in its New Jersey and California offices, which represents about 10% of its workforce.

Google Releases Voice-Powered Search Application for iPhone

San Francisco - Google (NASD: GOOG) has introduced new voice recognition features to the search application it offers through Apple's App Store for the iPhone, The New York Times reports. The free application lets users speak search terms into their phones, and uses speech recognition and location information to provide search results. The iPhone voice-powered search application follows the introduction of GOOG-411 in March, the company's free, voice-navigated directory information service.