BOSTON (TheStreet) -- Italy's bond auction leads your quick fix of company, market, economic and investing news for Tuesday, Nov. 29.

Tuesday's 5 Biggest Stories

A few weeks ago, Italian bond yields hit 7% and everyone freaked out. Today,

Italian bonds auction off with yields above 7%

and everyone is relieved. Huh?

Bloomberg

We've heard this one before:

France may lose its triple-A rating

. Standard & Poor's is mum on the report, though.

Reuters

Meanwhile, Fitch Ratings comes right out and says the

U.S. rating outlook is cut to negative

.

Bloomberg

The story everyone will be talking about today: Former Treasury Secretary

Hank Paulson tipped off hedge funds

that Fannie and Freddie would move into conservatorship.

Bloomberg

Facebook

is reportedly set to launch its IPO in the second quarter of 2012. It will value the social media giant at -- wait for it -- $100 billion.

WSJ

Quote of the Day

"While the stereotype may be a poor guy down on his luck who wins, the fact of the matter is: Everyone is equal when they play. These guys, they played one buck," Connecticut Lottery Chairman Frank Farricker said of the

three wealth managers in Stamford

who won a $254.2 million Powerball jackpot.

WSJ

Company News

I hope you traded in your airline miles already:

AMR Corp.

(AMR)

, parent of American Airlines, files for bankruptcy.

NYT DealBook

Research In Motion

( RIMM) can't beat the iPhone, so instead it'll join it by offering device-management software.

Reuters

Is a deal for

Yahoo!

(YHOO)

imminent? Several parties are submitting plans for a minority stake.

NYT DealBook

Speaking of Yahoo!,

Netscape

founder Marc Andreessen could be considering a leadership role as part of a bid for the company.

All Things D

Bank of America

(BAC) - Get Report

can't do anything right. It's among 10 banks that unlawfully foreclosed on mortgages of about 5,000 active-duty military members.

FT

Markets

Uh-oh. It can't be good when the

European Central Bank

says it failed to "sterilize" its bond program.

Bloomberg

More credit-ratings agency fun: Moody's

may

cut European banks. Nothing like certainty to bolster confidence in your investment decision-making.

Bloomberg

Citigroup economists are forecasting a

eurozone recession and sovereign debt downgrades

over the next two to three quarters.

MarketWatch

Boy, this Judge Rakoff sure doesn't like the

Securities and Exchange Commission's

deals with banks.

Reuters

Investment Strategy

Europe won't break up its

big banks

, which is good news for investors.

MarketWatch

Why investors should

ignore sharp moves

in the market.

Aleph Blog

Are there

opportunities in hotel stocks

?

Dragonfly Capital

Odds and Ends

Nomination for Biggest Head Scratcher of 2011:

Maxine Waters

may replace Barney Frank on the House Financial Services Committee.

American Banker

Have you heard enough about

Jon Corzine's ineptitude

? He reportedly bet $11.5 billion, twice the amount disclosed, on European debt.

Bloomberg

The Canada-based band

Metric

is awesome. Here's a song from their most recent, criminally overlooked album.

YouTube

-- Written by Robert Holmes in Boston

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