A new wave of U.S. mortgage trouble looms

Reuters: U.S. borrowers increasingly are missing payments on home equity lines of credit they took out during the housing bubble - a trend that could deal another blow to the country's biggest banks. The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

 

Washington gridlock could send milk prices soaring

CNNMoney: Congress went home for Thanksgiving break without passing a farm bill. If legislation still isn't passed after New Year's Day, it could send milk prices soaring to $7 a gallon. Current subsidies for dairy and other commodities will expire in January, which would trigger a funding formula from the 1940s that could lead prices of several commodities like corn, soybeans and wheat to spike.

 

Men's Wearhouse offers to buy Jos. A. Bank

Bloomberg: Men's Wearhouse Inc., which less than two weeks ago let a takeover bid from Jos. A. Bank Clothiers Inc. expire without entering discussions, today offered to buy its smaller rival for about $1.54 billion. The proposal of $55 a share is 8.7 percent higher than Jos. A. Bank's closing price yesterday and 32 percent higher than its last price on Oct. 8, the day before it bid for Men's Wearhouse. The deal, which would create a company with about 1,700 stores.