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U.S. Stocks, Commodities Decline as Bonds Gain on Dubai Crisis U.S. and emerging-market stocks slumped and commodities dropped as Dubai’s attempt to delay debt repayments unnerved investors. Treasuries and the dollar rose while credit-default swaps surged.

Secret Service Probes Breach of White House Security (Update1) The Secret Service is reviewing whether criminal charges may be warranted for a Washington- area couple who got past security to crash a state dinner at the White House, a spokesman for the agency said.

Madoff Trustee Overreaching in Clawback, Picower Says (Update2) The wife of Jeffry Picower, the longtime Bernard Madoff investor who drowned in his pool last month, told a judge that the trustee for Madoff’s firm is “overreaching” in his $7.2 billion lawsuit against the couple.

Dubai Crisis May End in ‘Major’ Default, BofA Says (Update3) Dubai’s debt woes may worsen to become a “major sovereign default” that roils developing nations and cuts off capital flows to emerging markets, Bank of America Corp. said.

Rogers Plans On-Demand Television for Handsets in Early 2010 Rogers Communications Inc., Canada’s largest wireless carrier, plans to extend its new online- television service to smart phones in early 2010 as consumers watch more shows on their handsets.

GM’s Saab Asks Sweden to Relax Terms of Rescue Loans (Update1) Saab Automobile, offered for sale by General Motors Co., asked Sweden’s government to relax the rules of state rescue loans and provide funding, a union chief said.

Fed, Treasury Extend Compliance Date on Gambling Act (Update1) The U.S. Treasury and the Federal Reserve extended by six months the compliance date on rules intended to limit the use of U.S. payment systems in some forms of Internet gambling, the agencies said in a release.

Shoppers Seek ‘Elusive Game’ at U.S. Best Buy, Target (Update2) Shoppers took advantage of Black Friday discounts to snap up televisions, laptop computers and robot hamsters at Best Buy Co., Target Corp. and Toys “R” Us Inc. stores from New Jersey to Texas.

Corzine Seeks Cuts to Schools, Cities Amid Deficit (Update1) New Jersey Governor Jon Corzine plans to cut pension contributions as well as aid to schools, cities and hospitals to close a deficit of more than $1 billion that has emerged less than five months into the fiscal year.

VIX Jumps Most Since October as Dubai Seeks Debt Payment Delay The benchmark index for U.S. stock options jumped the most this month after Dubai said it would seek to postpone repayment on much of its debt.

UN’s Atomic Agency Censures Iran Over Nuclear Plant (Update2) The United Nations atomic agency censured Iran for concealing a uranium enrichment plant, repeating calls for the government in Tehran to suspend nuclear activities and cooperate more fully with investigators.

Crude Oil Futures Tumble to Six-Week Low on Dubai Debt Crisis Crude oil in New York fell to the lowest level in six weeks as Dubai’s attempt to reschedule its debt bolstered the dollar and prompted investors to sell commodities.

Mobius, Das, Mowat's Own Words on Dubai's Debt Crisis: Video Strategists and investors comment on the risks facing Dubai after its attempt to delay debt repayments.

De Beers Said to Discuss Stake Sale With Investors (Update1) De Beers, the world’s largest diamond company, discussed with shareholders the possibility of selling a stake ahead of a March deadline to refinance a $1.5 billion facility, said two people familiar with the proposal.

MAN Loses Second Top Official as CFO Hornung Resigns (Update1) MAN SE, the German truckmaker whose chief executive officer resigned this week, said Chief Financial Officer Karlheinz Hornung will also step down.

Walmart Wins Canada High Court Ruling on Union Suit (Update2) Wal-Mart Stores Inc., the world’s biggest retailer, won an appeal to Canada’s highest court, letting it reject a lawsuit over its 2005 closing of a Quebec store after employees unionized.

Fed, Treasury Extend Compliance Date on Internet Gambling Act The U.S. Treasury and the Federal Reserve extended by six months the compliance date on rules intended to limit the use of U.S. payment systems in some forms of Internet gambling, the agencies said in a release.

Miami May Delay $120 Million Bond on Audit, Possible SEC Probe Miami may delay a $120 million bond sale after an audit showed lax budget practices and the city learned of a possible U.S. Securities and Exchange Commission inquiry, Mayor Tomas Regalado said.

Faltering Climate Deal Prodded by U.S., China Pledges (Update3) Pledges by China and the U.S. to set numerical targets for their greenhouse-gas emissions through 2020 may reignite stalled progress for a global climate agreement at negotiations next month in Copenhagen.

Sarkozy Wins Bid to Install Ally as EU Financial-Services Chief French President Nicolas Sarkozy won his bid to install an ally as the European Commission’s next financial-services regulator, fueling British concern that traders and hedge funds will face stricter rules.

Walmart Promotions Sell Out at Store Where Worker Died in 2008 The Walmart store where a worker was fatally trampled by a holiday crowd in 2008 ran out of vouchers for some promotional items before the start of this year’s sale, leaving more than 1,000 waiting shoppers empty-handed.

German Minister Jung Quits on Afghan Air Strike (Update2) German Labor Minister Franz Josef Jung, the former defense minister, resigned a day after the opposition accused him of withholding information on an air strike in Afghanistan that killed as many as 142 people.

Russia, Renault Seal Deal on AvtoVAZ Cash, Technology (Update2) Russia pledged to inject 50 billion rubles ($1.7 billion) into OAO AvtoVAZ in return for technology from 25 percent shareholder Renault SA.

BofA Shouldn’t Delay Lewis Departure, Finger Says (Update1) Bank of America Corp., the biggest U.S. bank by assets, shouldn’t delay the departure of Chief Executive Officer Kenneth D. Lewis and should continue looking outside for a replacement, said investor Jonathan Finger.

BMW Heiress Klatten Wins Ruling Against Jailed Sex-Blackmailer Susanne Klatten, Germany’s wealthiest woman and member of automaker BMW’s controlling family, won a 9.5 million euro ($14.2 million) judgment against the man who blackmailed her over sex tapes.

Almunia Named European Union Competition Commissioner (Update3) European Economic and Monetary Affairs Commissioner Joaquin Almunia, a Spanish Socialist known for tackling countries’ deficits, will be antitrust chief in the next European Commission, succeeding Neelie Kroes.

Dubai Means Emerging Markets ‘Correction’ to Mobius (Update1) Dubai’s attempt to reschedule debt may spur a “correction” in emerging markets, according to Mark Mobius, while the global slump in equities shows government spending alone won’t protect financial markets, Arnab Das of Roubini Global Economics said.

S. Korea’s Lee Says Ready to Meet North’s Leader, Yonhap Reports South Korean President Lee Myung-bak said today that he’s ready to meet North Korean leader Kim Jong- il “anytime and anywhere,” if it will help convince the North to give up its nuclear programs, Yonhap News Agency reported.

Almunia, Barnier, Rehn Given Top EU Economy Positions (Update2) Jose Barroso picked Spain’s Joaquin Almunia to be the European Union’s antitrust chief and France’s Michel Barnier to lead a push for tougher bank regulation on a new team that will manage the EU’s $15 trillion economy as it emerges from the recession.

Dubai Debt May Be Higher Than $80 Billion, UBS Says (Update1) Dubai, the Persian Gulf emirate whose state-run companies are seeking to defer debt payments, may owe more than the $80 billion to $90 billion in liabilities assumed by investors, UBS AG analysts said.

RBS Led Dubai World Lenders; HSBC Most at Risk in UAE (Update2) Royal Bank of Scotland Group Plc was the biggest underwriter of loans to Dubai World, the state company seeking to reschedule debt, while HSBC Holdings Plc has the most at risk in the United Arab Emirates, according to JPMorgan Chase & Co.

Feinberg’s Pay Decisions May Shield White House From Backlash Kenneth Feinberg, the Obama administration’s special master for executive pay, has taken the blame for Bank of America Corp.’s protracted search for a new leader and for putting at risk Wall Street’s ability to lure top talent, helping the White House deflect the same criticism.

Cisco Leads Company Bond Sales in Busiest November Since 2006 Cisco Systems Inc. and U.S. wireless carrier Clearwire Corp. led $96.9 billion of bond sales this month, the busiest November since 2006, as companies took advantage of near-zero interest rates.

Shuttle Atlantis Lands After Delivering Spare Parts to Station The space shuttle Atlantis landed safely in Florida today, ending an 11-day mission to deliver spare parts to the International Space Station before the shuttle fleet is retired next year.

Vivendi Should Seize Moment to Sell NBC Stake, Union Says Vivendi SA should seize the moment to sell its 20 percent stake in entertainment unit NBC Universal and bolster its strategy of expanding in emerging markets, the French company’s biggest union said.

European Confidence Improves to Highest in 14 Months (Update3) European confidence in the economic outlook improved in November to the highest since the collapse of Lehman Brothers Holdings Inc., suggesting the recovery in the 16-nation euro region is gathering strength.

Oil Drops to Six-Week Low as Dubai Debt Delay Rattles Investors Crude oil tumbled to a six-week low as Dubai’s attempt to reschedule its debt prompted investors to sell commodities.

Emerging Stocks, Currencies Decline on Dubai Debt Concern Developing-nations’ stocks dropped the most in a month and currencies weakened as Dubai’s attempt to reschedule its debt drove investors away from higher-yielding assets and commodities retreated.

Morgan Stanley Banker’s Son Disappears in Frankfurt (Update1) A Morgan Stanley executive’s son was reported missing in Frankfurt, German police said.

Cadbury Investors Should Sell as Higher Bid Unlikely, CER Says Cadbury Plc investors should sell their shares in the U.K. candy maker because Kraft Foods Inc. is unlikely to raise its cash-and-stock offer above the current share price, Consumer Equity Research said today.