Reuters - Sales of previously owned U.S. homes rose in May and the glut of homes for sale shrank, but prices were off sharply from a year ago, suggesting the housing sector remains a big weight on the economy.

Reuters - Citigroup Inc shares fell to their lowest level in nearly a decade after a Goldman Sachs & Co analyst said investors should sell the largest U.S. bank's stock short as losses mount from troubled debt.

Reuters - Shares of General Motors Corp hit their lowest level since 1955 and dragged down the auto sector on Thursday after Goldman Sachs cut the struggling U.S. industry's largest manufacturer to a "sell" rating and warned it would have to raise capital.

Reuters - Oil prices surged to a record over $140 a barrel on Thursday after Libya said it was studying options to cut output in response to possible U.S. actions against producer countries.

Reuters - The state's highest court on Wednesday sided with former New York Stock Exchange chief Richard Grasso in his efforts to throw out key parts of a lawsuit seeking the return of more than $100 million of his pay.

Reuters - The London Stock Exchange plans to set up a pan-European, off-bourse trading platform with Lehman Brothers , the groups said, to fend off start-up rivals hurting LSE's business.

Reuters - Citigroup Inc may incur second-quarter write-downs of $9 billion and raise additional capital, said a Goldman Sachs analyst, who widened his loss estimate for the bank for the period.

Reuters - Fortis said on Thursday it plans to shore up its finances with measures worth more than 8 billion euros ($12.54 billion), including issuing new shares, hitting its stock on dilution worries.

Reuters - The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it was in no hurry to raise them, even as it voiced greater concern about inflation.

Reuters - Anheuser-Busch Cos Inc plans to reject InBev NV's unsolicited $46.3 billion takeover offer, saying it undervalues the company, a source familiar with the situation said on Wednesday.

AP - Sales of new homes tumbled for the sixth time in seven months in May while median prices kept plunging, underscoring the depth of the nation's housing woes.