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Green Mountain Coffee Roasters (NASDAQ:GMCR) has named Brian Kelley to the position of president and chief executive officer effective December 3. Kelley, who previously served as president of Coca-Cola’s Refreshment division, will succeed Lawrence Blanford, who is retiring. Shares closed up 1.98 percent after opening over 10 percent higher.
New York Attorney General Eric Schneiderman, co-chair of the anti-fraud task force established by the Martin Act, is expected to file a lawsuit against Credit Suisse (NYSE:CS) for deceiving investors when they invested in mortgage-backed securities. Shares closed down 1.35 percent.
The United States Department of Housing and Urban Development released residential construction numbers for October on Tuesday. Data show that housing starts have hit a four-year high, building on a series of good news coming out of the housing sector. Privately-owned housing starts climbed 3.6 percent month-over-month to a seasonally-adjusted annual rate of 894,000, a 41.9 percent increase over the rate for October 2011. (Read more.)
“There are good chances that we will come to a conclusive mutual solution, but I can’t be entirely sure,” said Luxembourg Prime Minister Jean-Claude Juncker to reporters before heading in to chair a meeting of European finance ministers in Brussels. Officials are meeting on Tuesday to settle disagreements over how to manage Greece’s overwhelming debt. The Greek government needs 15 billion euros ($19.2 billion) in emergency loans in order to avoid going into default, but a recent spat between the International Monetary Fund and EU leaders threatens to slow down progress in negotiations. (Read more.)
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