Heat oven to 350°F. Grease bottom only of 9x5-inch loaf pan with shortening. In large bowl, mix all ingredients except nuts and powdered sugar with spoon until moistened. Stir in nuts. Pour into pan.
Bake 50 to 60 minutes or until toothpick inserted in center comes out clean.
Cool bread in pan 10 minutes. Loosen sides of bread from pan; remove from pan to wire rack. Cool completely, about 1 hour. Sprinkle with powdered sugar before slicing.