Home foreclosures are likely to keep climbing through all of next year despite stabilizing housing prices in some areas, a major lender group said Thursday as it reported that the level of delinquencies and repossessed homes had jumped to a new record.

California home prices edged higher last month as first-time buyers took advantage of a federal tax credit and foreclosure properties made up a smaller slice of the market, fresh data showed Thursday.

A recovery in U.S. housing will have to wait at least until next year.

A private forecast of U.S. economic activity over the next six months edged up less than expected in October, signaling slow, bumpy growth next year.

U.S. newspapers' advertising woes persisted through the summer, increasing the likelihood that publishers will finish this year with their lowest ad sales since the 1980s.

Argentine lawmakers on Wednesday gave the government permission to enter talks with investors holding US$20 billion the country's defaulted bonds, in a bid to re-enter global credit markets.

The United States is eyeing side talks with key partners on services trade as a way to spur flagging World Trade Organization talks, the Obama administration's nominee for WTO ambassador said.

The Internet is still under the control of the United States, participants at a governance forum said, despite a move by America to loosen its grip over the private corporation that administers the net.

The Obama administration is poised to extend the life of the highly unpopular US$700 billion financial bailout, and, to display a commitment to fiscal responsibility, is planning to use much of the leftover funds to reduce the national debt, government sources said.

Despite the lowest mortgage rates since May, applications for loans to finance home purchases fell again last week, the Mortgage Bankers Association said Wednesday.