Business - Page 13

Reuters - U.S. stocks fell on Tuesday after a weak consumer confidence report fueled concerns the housing slowdown could spread into the broader economy and hurt profits.

Reuters - Wal-Mart Stores Inc. Chief Executive Officer Lee Scott said the world's largest retailer is adopting a cautious stance, considering that rising fuel prices could mean this year will not be easy.

FT.com - Wall Street stocks fell on Tuesday as signs of softer consumer confidence and a profits warning from Lennar (NYSE:LEN), the third-biggest US homebuilder, aggravated investors' concerns about the economy. More Info...  

AP - Sales of new homes fell for a second consecutive month in February, dimming hopes for a rebound soon in the troubled housing market and raising fears about the health of the overall economy.

Reuters - U.S. technology stocks rose on Monday, pulled higher by positive broker comments on companies such as Dell Inc., but renewed signs of weakness in the housing market halted a five-day winning streak for the Dow.

AP - Upscale jewelry retailer Tiffany & Co. on Monday said fourth-quarter net income was nearly flat, weighed by an impairment charge, flat sales in Japan and higher cost of metals. More Info...  

Reuters - An executive who paid more than $500 million to buy dozens of small U.S. newspapers from former media magnate Conrad Black's company testified on Monday at Black's fraud trial that he balked when asked at one point to wire $9.5 million directly to Black and his associates.

Business

Reuters - Sales of new U.S. homes unexpectedly fell in February, hitting their lowest level in nearly seven years, according to a report on Monday that raised concerns the troubled housing sector had not yet hit bottom.

Reuters - General Motors Corp. offered DaimlerChrysler AG (DCXGn.DE) a stake of less than 10 percent of its own stock in an early, "longshot" bid to acquire Chrysler Group, the Detroit News reported on Monday.

Reuters - International Business Machines Corp. said on Monday it formed a unit that will sell software and computers for processing mortgage applications and also manage processing of home-loan paperwork on behalf of lenders. More Info...  

Reuters - Citigroup Inc. said on Monday it will announce results of its cost review by mid-April, amid reports it may cut 15,000 jobs as shareholders demand better performance and a higher stock price.

AP - Chinese stocks rose to a fresh record Monday, with the benchmark Shanghai Composite Index topping 3,100 for the first time on lively demand from securities funds and strong 2006 corporate earnings results. More Info...  

Reuters - Reuters Group said on Monday it had launched its FXMarketSpace trading platform joint venture with the Chicago Mercantile Exchange as part of a drive to tap the fast-growing global currency market.

Business

Reuters - Australian retailer Coles Group Ltd. said on Monday it is considering all options for a A$20 billion ($16 billion) sale of the company, as it reported a slight rise in first-half profit.

Reuters - Beckman Coulter Inc. , which makes products for biomedical tests, said on Sunday it would acquire Biosite Inc. for about $1.55 billion to expand its presence in the market for diagnosis and assessment of heart failure. More Info...  

Reuters - U.S. average retail gasoline prices rose over the past two weeks, though at a slower pace than seen last month, reflecting strong demand and production shortfalls at refineries, according to an industry analyst.

Reuters - The powerful German trade union IG Metall is opposed to DaimlerChrysler (DCXGn.DE) selling its Chrysler business to a private equity buyer, a regional union leader told a German newspaper.

AFP - The case of the boss of France's oil giant Total being hauled in for questioning by the financial police this week has once again raised the issue of bribes made to secure international deals.

Reuters - Venezuela said on Saturday it was working on a raft of oil deals with China, giving impetus to President Hugo Chavez's attempts to break his country's dependence on oil exports to the United States. More Info...  

Reuters - Porsche took advantage on Saturday of a surge in Volkswagen stock to meet a mandatory requirement to offer to buy out all remaining shares at a price few investors are likely to accept.