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What's In The News: December 20, 2011

Financial News Network
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December 20, 2011 AT 10:20 PM
This is what's in the news for Tuesday, December 20, 2011. The Wall Street Journal reports the Supreme Court said arguments over President Obama's health care overhaul will be over three days, beginning on March 26. The Wall Street Journal also reports ConocoPhillips (NYSE:COP) was issued a permit by the U.S. Army Corps of Engineers that would allow it to develop the first commercial oil well in the National Petroleum Reserve in Alaska. Reuters reports Richmond Fed President Jeffrey Lacker said the Fed is unlikely to need to ease monetary policy further given the U.S.'s steady if moderate pace of economic growth, and that he expects the economy to expand between 2%-2.5% in 2012. Finally, Reuters also reports Royal Bank of Scotland (NYSE:RBS) is expected to sell a $2.1B property loan portfolio to a fund managed by Blackstone (NYSE:BX) as it moves away from riskier real estate lending.