Finance News

Clear Channel Communications Inc. says it has resolved a legal dispute with its lenders, clearing the way for the leading radio broadcaster to go private.

Media moguls Barry Diller and John Malone have settled their differences over the breakup of Diller's IAC/InterActiveCorp, paving the way for the Internet conglomerate to spin off four of its units.

Median home prices fell in two-thirds of the cities surveyed during the first three months of this year while sales declined in 46 states compared to a year ago, according to the latest report highlighting the depth of the nation's housing woes.

Two part owners of last year's Preakness winner went on trial Tuesday on charges they defrauded clients out of millions in a case being watched closely by the thoroughbred industry because the men could lose their share of the horse.

Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," Federal Reserve Chairman Ben Bernanke said Tuesday.

Treasury prices fell Tuesday as signs of modestly better-than-expected consumer spending and rising inflation made safe government securities less attractive to investors.

Gold prices fell sharply Tuesday after the dollar gained some muscle against the euro, weakening the appeal of precious metals as an inflation hedge.

Hours after saying it was open to holding talks, Corporate Express NV said Tuesday a sweetened $2.47 billion hostile takeover bid from its larger office products rival Staples Inc. is still too low.

NEW YORK — Solid first-quarter profits from discounters Wal-Mart and TJX show that more Americans are hunting for bargains as they struggle to cover their monthly credit card payments, put food on the table and gas in the family car.

Faced with an unfriendly Congress, the Bush administration has found another, quieter way to make it more difficult for consumers to sue businesses over faulty products. It's rewriting the bureaucratic rulebook.

Hewlett-Packard Co <HPQ.N> plans to buy technology outsourcing company Electronic Data Systems Corp <EDS.N> to better compete against IBM <IBM.N>, but Wall Street questioned whether the $12.6 billion deal for a slow-growing company was overpriced.

Blue-chip stocks declined on Tuesday as oil rose to another record and underscored concerns about inflation, while the Federal Reserve chairman said financial markets are still troubled.

Billionaire investor Carl Icahn is considering mounting a proxy campaign to replace Yahoo Inc <YHOO.O> board members after the company failed to reach a deal to merge with Microsoft Corp <MSFT.O>, a source close to the matter said on Tuesday.

BHP Billiton Ltd/Plc <BHP.AX><BLT.L> was not ruling out adding cash to its all-share hostile offer for rival Rio Tinto Ltd/Plc <RIO.AX><RIO.L>, Chief Executive Marius Kloppers told broadcaster CNBC.

Top video game publisher Electronic Arts Inc <ERTS.O> issued an annual profit outlook on Tuesday that fell short of Wall Street forecasts as a drive to improve quality jacked up costs. Its shares fell 3.7 percent.

JPMorgan Chase & Co <JPM.N> could cut as many as 4,000 of its own employees worldwide as the bank prepares to take on staff from Bear Stearns Cos <BSC.N> at the same time it deals with turmoil in financial markets, people familiar with the situation said on Tuesday.

Federal Reserve Chairman Ben Bernanke said on Tuesday the credit crisis was not over, even as his colleagues revealed growing concerns about inflation that could signal a pause in interest rate cuts.

Japan's Toyota Motor Corp <7203.T> said on Wednesday it is considering setting up a new plant to build small, low-cost cars.

Whole Foods Market Inc <WFMI.O> on Tuesday posted lower quarterly net profit, missing analysts' estimates by a penny, as it booked charges related to its $565 million acquisition of rival Wild Oats Markets in August.

Applied Materials Inc said on Tuesday the semiconductor equipment industry was nearing the end of its downturn, but industry capital spending this year would fall more than it previously expected.