Bluefield Daily Telegraph, Bluefield, WV

National and World

December 27, 2012

Stocks turn lower after consumer confidence sinks

(Continued)

Treasury Secretary Tim Geithner told Congress that he would use accounting measures to try to save approximately $200 billion. But those are stopgap measures, which would keep the government from going over its borrowing limit for probably only a couple of months.

Chipmaker Marvell Technology Group dropped 4 percent after the company lost a patent case brought by Carnegie Mellon University. Marvell said it would fight the $1.2 billion ruling.

In Japan, the benchmark Nikkei 225 index rose to its highest close since March 2011. The country is preparing for the incoming, pro-business prime minister, Shinzo Abe. He has called for more public works spending to reinvigorate the economy, and measures to drag the country out of deflation, or steadily declining prices.

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