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U.S. New Home Sales Drop 33% in May, to Record Low (Jun-23, 09:41 EDT )-- Sales of new single-family homes tumbled more than expected as the effects of a tax credit faded. The report added to worries of a slowing economic recovery.
U.S. Stocks Fall on Decline in Housing Sales (Jun-23, 09:20 EDT )-- Stocks are trying to snap a two-day losing streak as the Federal Reserve is expected to hold an important interest rate at a historic low.
May Home Sales Plunge 33 Percent To Record Low (Jun-23, 09:06 EDT )-- Sales of new single-family homes collapsed last month, sinking 33 percent to a pace of 300,000 -- the lowest level on record -- as potential buyers stopped shopping for homes once they could no longer get government incentives. Economists surveyed by...
BP Executive Prepares to Take Over Spill Response (Jun-23, 09:00 EDT )-- Robert Dudley has plenty of experience dealing with a hostile government and angry citizens.
Don't Fear Inflation, if It Comes (Jun-23, 08:32 EDT )-- Inflation would cost the country less that it usually does and might be just the thing to sort out the housing crisis, an economist writes.
U.S. Spends The Most On Health Care, Yet Gets Least (Jun-23, 07:55 EDT )-- A comparison of health care in industrialized countries finds the Netherlands is tops and the U.S. is the worst.
Data Casts Doubt on Durability of Euro-Zone Recovery (Jun-23, 07:37 EDT )-- Key business surveys showed dimming confidence about prospects for growth in economies that are pressing ahead with austerity measures.
Petrobras Delays Rights Issue Until September (Jun-23, 07:00 EDT )-- Petrobras, the Brazilian national oil company, said Tuesday that it would defer a rights issue worth up to 150 billion reais ($84 billion) until September pending a government decision to evaluate certain oil assets.
Is Manufacturing Coming Back to the U.S.? (Jun-23, 06:00 EDT )-- As the costs of manufacturing in China continue to rise, so does the interest in "near-sourcing."
Beijing Keeps a Tight Rein on Currency's Rise (Jun-23, 05:39 EDT )-- The Chinese central bank set a key rate for the renminbi at a level that appeared designed to signal only a gradual appreciation of the currency against the dollar.
State of the Art: New iPhone Arrives, Rivals Beware (Jun-23, 04:48 EDT )-- The iPhone 4 is slimmer, with an improved screen and audio. But it was a hit before the public knew that.
Massive Florida Mansion Being Sold 'As Is' (Jun-23, 03:00 EDT )-- The housing market has been tough on David Siegel. The timeshare mogul had to abandon construction of the house he was building for his family in Windermere, Fla. It's on the market for $75 million. The half-built home is based on the French palace...
Tom Cruise And Hollywood's Superstar Crisis (Jun-23, 03:00 EDT )-- Once, Tom Cruise was a marquee name. Then he was a late-night joke. Now Hollywood is hoping he can jump-start a wan summer at the box office. But even as Cruise reboots his career, some in the movie business wonder if the age of the star vehicle is...
'Polaroid Collection' Sale Sets Record At Auction (Jun-23, 03:00 EDT )-- Sotheby's auction house in New York on Tuesday night concluded a two-day sale of photographs from a collection of more than 1,600 assembled by Ansel Adams and Edwin Land, the founder of Polaroid. The auction was controversial because a number of...
Group Wants McDonald's To Drop Happy Meals Toys (Jun-23, 03:00 EDT )-- A consumer watchdog group with a history of going after food manufacturers for promoting unhealthy products to kids is at it again -- this time the target is McDonald's and the toys inside Happy Meals. The Center for Science in the Public Interest...
Administration Challenges Ruling On Oil Drilling (Jun-23, 03:00 EDT )-- The Obama administration will appeal a ruling by a federal judge in New Orleans who struck down the six-month moratorium on deep-water drilling in the Gulf of Mexico. But Interior Secretary Ken Salazar says he'll issue a new order imposing a moratorium...
Hulu Hunts For Content For Its Paid Service (Jun-23, 03:00 EDT )-- Free video website Hulu.com reportedly is talking with CBS, Viacom and Time Warner about adding paid content to Hulu's website. Hulu has become successful over the past three years by offering video for free. According to Bloomberg News, the new...
Chicago Mayor Favors Wal-Mart Expansion (Jun-23, 03:00 EDT )-- For years, officials in Chicago, with the support of labor and community groups, have been fighting with Wal-Mart -- only allowing one of the giant retailer's stores inside the city's borders. Wal-Mart now is offering to pay potential Chicago employees...
Obama Postpones Energy Meeting With Senators (Jun-23, 03:00 EDT )-- President Obama was scheduled to meet with senators from both parties to talk about energy Wednesday. Instead, he will meet with Gen. Stanley McChrystal, whose comments to Rolling Stone magazine launched a firestorm of criticism. While an energy and...
Experts Feel Misrepresented In Drilling Moratorium (Jun-23, 03:00 EDT )-- In striking down the moratorium on deep-water drilling Tuesday, U.S. District Judge Martin Feldman referred to a group of engineers. They said their views had been misrepresented in the administration's justification of the moratorium.
Your Money: Debit Card Raises the Cash-Back Reward (Jun-23, 00:15 EDT )-- Perk Street Financial says it can make money by offering customers 2 percent cash back on debit card purchases.
New Regulator Might Not Oversee Auto Dealers (Jun-22, 23:25 EDT )-- The White House wanted the industry to face additional scrutiny as part of a consumer protection plan, but Senate Democrats yielded to centrist colleagues to get the broader legislation passed.
Homebuyers Still Wary Despite Low Rates, Prices (Jun-22, 23:01 EDT )-- Selma Jager has sold real estate for 38 years in Prince George's County, Md. But she and other real estate agents now face a housing market that is especially exasperating. That's because home prices and interest rates are the lowest they've been in...
Race-Based Team Names Not Tolerated In Wisconsin (Jun-22, 23:00 EDT )-- School team nicknames like the Chieftains and Braves may soon be a thing of the past in Wisconsin, where a new law allows the state to ban race-based mascots and logos. If a complaint is upheld, school districts face fines of up to $1,000 a day. But...
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