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BC-Business News Digest

Signs of life

The housing market recovery gained momentum in 2012. Although the final numbers for the year won't be available for a few weeks, key gauges of the housing market's health showed marked improvement from the low levels of 2011. Patrick Newport, an economist at IHS Global Insight, offers forecasts for home prices and that sale of new and previously occupied homes in the year ahead.

COMPANY SPOTLIGHT

GM sets 52-week high

General Motors stock reached a 52-week high after CEO Dan Akerson said the company is working with credit rating agencies to raise its status from junk, where it's been since 2005. Akerson said the company's recent $11 billion credit line received investment grade rating, showing that banks are ahead of the ratings agencies.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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