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US sales of previously occupied homes up in April
Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving. The National Association of Realtors said Tuesday that home sales rose 3.4 percent last month to a seasonally adjusted annual rate of 4.62 million. Home sales have rebounded after falling in ...
US stocks turn higher after housing report
An encouraging report on the housing market helped stocks turn higher on Tuesday while Facebook took another fall. The Dow Jones industrial average rose 52 points to 12,556 an hour after the opening bell. JPMorgan Chase, which has been hammered since disclosing a $2 billion trading loss, rose 4 percent ...
General Mills to eliminate about 850 jobs
Food maker General Mills Inc. said Tuesday it will cut about 850 jobs as part of a plan to lower costs and boost efficiency. The Minneapolis-based maker of Cheerios cereal, Nature Valley granola bars and Hamburger Helper said the moves will make it more effective and allow it to focus ...
Stocks rally further in run-up to EU summit
Global stocks advanced Tuesday ahead of a summit of European leaders that's expected to be dominated by calls to boost economic growth across the continent, though ongoing worries over the upcoming Greek election kept the rally in check. Europe remains the focus of attention across all financial markets in the ...
Benihana to be taken private in $296 million deal
Restaurant chain Benihana Inc. has agreed to be taken private in a deal worth about $296 million. Benihana, which serves Japanese food and sushi and has 95 restaurants, had announced in March that it was exploring strategic options, including a potential sale. The company said Tuesday that buyer is Angelo, ...
Google closes on Motorola Mobility acquisition
Google says it has completed its acquisition of phone maker Motorola Mobility and it has appointed a Google executive as the new CEO of the business. Google says Dennis Woodside, previously president of Google's Americas region, is Motorola's new CEO. Departing CEO Sanjay Jha will help to ensure a smooth ...
Spain court shelves tax probe of banker family
Spain's National Court says it has ended an investigation into the country's most prestigious banker — Banco Santander chairman Emilio Botin — and 11 of his relatives over possible income and wealth tax evasion. The case focused on tax returns filed between 2005 and 2009 on accounts the family held ...
Monti inspects quake-hit Italian factories
Premier Mario Monti on Tuesday inspected the quake-struck region of northern Italy and promised swift government help for stricken businesses, especially small-scale farms and factories. His visit to the Emilia Romagna region included a stop at a ceramics factory where two workers died after it collapsed. In all, the quake ...
UN nuclear chief : Deal with Iran reached on probe
Despite some remaining differences, a deal has been reached with Iran that will allow the U.N. nuclear agency to restart a long-stalled probe into suspicions that Tehran has secretly worked on developing nuclear arms, the U.N. nuclear chief said Tuesday. The news from International Atomic Energy Agency chief Yukiya Amano, ...
Best Buy profit falls, adj. earns tops Street view
Best Buy Co. said Tuesday that its fiscal first-quarter profit dropped 26 percent on restructuring charges as the struggling electronics retailer began implementing its turnaround plan. Its adjusted earnings and revenue both topped Wall Street's expectations, briefly sending Best Buy shares up 7 percent in premarket trading before turning lower. ...
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