Fred Business News - New home sales saw their steepest plunge in 13 years in January, a government report said Wednesday, as a rising glut of new houses on the market pushed prices lower.

New homes sold at an annual rate of 937,000, down 16.6 percent from the December reading of 1.1 million. Economists surveyed by Briefing.com had forecast only a narrow drop to a 1.08 million pace.

The decline in sales hit every region of the country, from a 8.1 percent drop in the Midwest to a ...   more »

Fred Business News- Small business owners' confidence in the economy stayed steady in February as optimism about their own business fortunes was offset by an increase in concern about cash flow. Discover's Small Business confidence measure fell less than a point to 113.4 from January's 114.3.

Optimism was reflected on the hiring front: 17 percent of owners plan to hire more workers in February, up from 14 percent last month; 39 percent also plan to spend more on business development, which is up from 35 percent in January.

 ...   more »

Fred Business News -  DaimlerChrysler AG is thinking about taking a minority stake in General Motors Corp. as payment for Chrysler if a deal between the automakers takes place, the Financial Times said on Monday.

Such an all-share option was being weighed up by the firm, the newspaper said, citing people familiar with the situation.

Chrysler offers details to job-cut plan

Other possible options included a sale of DaimlerChrysler's struggling U.S. arm to private equity or industry investors, and a flotation of Chrysler, according to the FT....   more »

Fred Business News - DaimlerChrysler's Chrysler Group said Friday it will offer buyout plans and early-retirement incentives to eligible employees as part of its goal to cut 1,000 jobs by the end of June.

Salaried workers over age 53 with 10 or more years of seniority will receive buyout offers effective June 30.

Early retirement packages will be offered to salaried workers over age 62 and effective as of the end of May, the automaker said. Incentives include three months salary and either a $20,000 car voucher or ...   more »

Fred Business News - The number of U.S. workers filing for first-time jobless benefits fell a smaller-than-expected 27,000 last week, as storms in many parts of the country failed to generate new claims, a government report showed Thursday.

Initial jobless claims hit a seasonally adjusted 332,000 for the week ended Feb. 17, the Labor Department said.

The claims figures for the week ended Feb. 10, upwardly revised to 359,000, were affected by winter storms that shut down parts of the Northeast and Midwest.

Economists polled ahead ...   more »

Fred Business News - The hot-button topic of used video game sales is moving toward center stage once again, as Circuit City has begun selling previously-owned titles online and in select stores.

While consumers are always happy to find a lower-priced alternative, many video game makers are fervently opposed to used game sales, arguing the practice harms the industry. It is, if nothing else, a high profit business. Colin Sebastian, senior research analyst with Lazard Capital Markets, estimates that sales of used video game products generate over $1 billion ...   more »

Fred Business News - A federal jury said Thursday that software maker Microsoft Corp. infringed audio patents held by Alcatel-Lucent and should pay $1.52 billion in damages.

Tom Burt, Microsoft corporate vice president and deputy general counsel, said the verdict was unsupported by law or facts.

"Today's outcome is disappointing for us and for the hundreds of other companies who have licensed MP3 technology.

"We will seek relief from the trial court, and if necessary appeal," Burt said.

"(This case) will go on for a long ...   more »