Nakheel PJSC’s possible non-payment of its Islamic bond due tomorrow will trigger defaults on two other securities, bringing the total of affected securities to $5.25 billion, bond documents show. [Bloomberg]
U.S. Commerce Secretary Touts Climate Change Policies — Commerce Secretary Gary Locke tells delegates at the United Nations Climate Change Conference in Copenhagen that nations must stop subsidizing the production and consumption of fossil fuels and create incentives for innovative solutions to clean energy. [eWeek]
Google Unveils Deforestation Monitoring Technology — Google debuts a new technology at the climate change conference in Copenhagen that helps scientists track global deforestation. [eWeek]
Google Phone May Be in Works — Google appears to be preparing to market its own smartphone, a move that would intensify the company’s rivalry with Apple, whose iPhone dominates the high-end smartphone market in the United States. [NY Times]
Household wealth has risen for two straight quarters, providing some much-needed relief for struggling US consumers. The value of American homes and investments rose during the third quarter, while debt levels fell modestly, the Federal Reserve reported Thursday. [CS Monitor]
Interest Rates Are Low, but Banks Balk at Refinancing — Banks that once handed out home loans freely are now imposing such stringent requirements that many homeowners who might want to refinance are effectively locked out. [NY Times]
For whatever reason, consumer sentiment in December has rebounded to its highest level since September, according to a preliminary report Friday from the Reuters/University of Michigan Surveys of Consumers. December’s reading of 73.4 was just a hair below September’s 73.5, which was highest level this year. The surveys’ measure of current economic conditions rose to 79.1, its best showing since March 2008. [CS Monitor]
In Shift, U.S. Talks to Russia on Internet Security — The United States has begun talks with Russia and a United Nationsarms control committee about strengthening Internet security and limiting military use of cyberspace. [NY Times]
According to a study, North Americans have been staying up late to do their Internet surfing this summer, so late that the peak usage for the whole day has been at 11 p.m. Eastern time. That appears to be a shift from previous years, when most Internet activity was in the daytime. [CS Monitor]
Wind farms don’t affect property prices — SOME homeowners consider a wind farm about as appealing a neighbour as a pig farm. Contrary to popular belief, however, it seems they have no effect on house prices. [New Scientist]
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