Abu Dhabi invests $7.5B in Citigroup; Dow climbs 215
CBS News
Transcript
[Music] City group is getting a financial Lifeline the Abu Dhabi investment Authority will invest 7.5 billion dollar in City Group helping the financial giant offset big mortgage losses it's the second largest Arab investment in a US company and the largest in a US Bank that news and a steep drop in oil prices triggered a rally on Wall Street where the Dow climbed 215 points the NASDAQ sprinted nearly 4 Cyber Monday was a success early sales estimates top $700 million but it was not glitch-free the heavy traffic caused computer outages at Yahoo and that kept sales from going through at thousands of Yahoo retailers for hours more bad news for the housing market home prices fell Nationwide nearly 5% in the third quarter compared to the same time last year that's according to standard andor's Nationwide housing index the price drop is the biggest since the index began in 1987 and the government says over 8 million Americans were victims of identity theft in 2005 according to the survey victims suffered misuse of their credit cards some even had fraudulent accounts opened in their name in some cases the cost to fix the problem as much as $1,200 that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus