Home prices up
in big U.S. cities
Home prices increased in September in most major U.S. cities, more evidence of a housing recovery that is providing a lift to the fragile economy. Standard & Poor's/Case-Shiller reported its 20-city index of home prices rose 3 percent in September, compared with the same month last year. Across the nation, prices increased in 18 of 20 cities over the 12-month period.
Orders rise for
U.S. companies in October increased their orders of machinery and equipment that signal investment plans by the largest amount in five months, a hopeful sign for future economic growth. Orders for core capital goods, considered a proxy for business investment, rose 1.7 percent in October, the best showing since a 2.3 percent rise in May, the Commerce Department said.
Europe a drag on
The global economy could easily slide back into recession if its major problems such as U.S. budget standoffs and Europe's lack of jobs are left to fester, the Organization for Economic Cooperation and Development warned in its semi-annual update. It noted the global recovery will be "hesitant and uneven" over the coming two years and that a new major contraction cannot be ruled out.
in patent fight
Swedish wireless equipment maker LM Ericsson has filed a lawsuit in the United States against Samsung for infringing its patents, saying two years of negotiations to strike a deal with the South Korean company were unsuccessful. Ericsson says the lawsuit concerns technology that is "essential to several telecommunications and networking standards" in Samsung's products.
Apple to launch
new iMacs Friday
Apple says the smaller version of its new, slimmed-down iMac desktop computers will go on sale Friday. It will also start taking orders for a larger model, but those units won't ship until next month. The model with a 21.5-inch screen will cost $1,299 and up, depending on the configuration. The model with a 27-inch screen will start at $1,799.
$3.1 billion deal
Canada-based Bombardier Inc. made the biggest sale of business aircraft in its history, potentially worth up to $7.8 billion. VistaJet, a European firm that offers chartered flights, placed firm orders for 56 jets valued at $3.1 billion and acquired options for 86 planes. VistaJet operates a fleet of Bombardier aircraft based in Europe, the Middle East, Asia and West Africa.