Briefing.com News

At long last, some good news from a pair of front-line economic reports. Housing starts and new housing permits popped higher last month, the Census Bureau advises. via Seeking Alpha

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“The message is very clear: The single-family housing market is still deteriorating and Congress and the Administration must move immediately to enact legislation that will help reverse the trend”

Homebuilders' confidence fell once again in May and their view of the state of the battered market hit a record low. via CNN Money

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“I am reluctant to put a lot of stock in that data.”

Retail sales declined in April largely due to weakness at car dealers, the government reported Tuesday, but sales excluding autos surpassed expectations. via CNN Money

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World Wrestling Entertainment stepped into the Wall Street ring on Tuesday -- and lost. via Blogging Stocks

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“I, for one, don't think we're in a recession. But tell that to the hundreds of thousands of people who have lost their jobs in the last four months with no signs of them returning.”

Employers trimmed jobs in April for the fourth straight month, according to a government report Friday that was not as weak as Wall Street's expectations. via Construction Equip. Distribution

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“Clearly, a string of unimpressive housing numbers is continuing”

The number of homes under contract for sale fell in March, hitting a record low for the second consecutive month, according to a report released Wednesday. via WXIA-TV Atlanta

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“We believe it is imperative that in relatively short order, Microsoft's management articulates a viable and credible new strategy for (its online services business) in the absence of Yahoo”

Yahoo shares plummeted Monday as the Internet giant's future became clouded after Microsoft walked away from a bid rather than pursue a hostile takeover. via Raw Story

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“The inflationary pressures of rising fuel, energy and commodity prices are of major concern for members”

Encouraging news for the slumping U.S. economy came Monday as a key survey of non-manufacturing business executives showed unexpected growth in the service sector in April. via CNN

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“Despite the barely-positive growth, we are almost certainly in a recession. There's nothing magical about staying above zero. In fact, annual growth of less than 2.5% is a recipe for rising unemployment.”

The nation's economy continued its sluggish growth in the first quarter, according to a government report Wednesday that showed a slightly better-than-expected gain in economic activity. via CNN

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“We continue to leverage our global product portfolio to take advantage of tremendous growth in key emerging markets, while at the same time taking the appropriate actions to deal with the challenging economic conditions in the US”

General Motors reported Wednesday a first-quarter loss of 3.3 billion US dollars, citing weakness in the domestic auto industry and special charges. via The Age

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