December 2 Biz Minute

General Motors board of directors gave Chief Executive Fritz Henderson a 100 day review yesterday and concluded he hadn't done enough to fix GM's finances and culture and asked him to step down.

General Growth Properties, the second largest U.S. mall owner, and biggest real estate failure in U.S. history, reached agreements with additional lenders to extend loans on its shopping centers and other properties and will ask a judge later this month to approve the plan that so far covers $9.7 billion of its secured debt.

Cigarette maker Reynolds American says it is buying a Swedish company whose nicotine gum, pouches and spray help people stop smoking.

Analytics firm comScore Inc said U.S. online shoppers spent 5 percent more this Cyber Monday than they did last year as more consumers flocked to the Web for holiday shopping but they spent slightly less per person.

The Labor Department reported today that unemployment worsened or stayed the same in most metro areas in October, while a private report by ADP Employer Services showed companies cut more jobs than forecast in November...

In a filing with the U.S. Bankruptcy Court, Nokia Siemens Networks objected to Ciena winning an auction for the optical assets of Nortel Networks, and said it would offer $810 million in cash for the assets.

Yahoo will let users of its email, photo-sharing and other online products link their content and activities directly into Facebook, the world's No. 1 Internet social network.

Category:

News & Politics

Tags:

• General Motors
• GM
• Fritz Henderson
• General Growth Properties
• mall
• real estate
• shopping centers
• cigarette
• Reynolds American
• nicotine gum
• pouches
• spray
• smoking
• comScore
• online shoppers
• online
• cyber monday
• web
• labor department
• unemployment
• ADP employer services
• U.S. Bankruptcy Court
• Nokia Siemens
• Ciena
• Nortel Networks
• optical
• yahoo! facebook
• socail network