Tuesday, May 29, 2007

news news news

Commercial building is hot in Texas, Florida, California, New York and other parts of the West Coast, Midwest and Northeast, industry officials say. Spending on nonresidential construction was up nearly 14 percent during the first three months of 2007 from last year, according to the U.S. Census Bureau. (AP)

what some here describe as the first war in cyberspace, a three-week battle that forced the Estonian authorities to defend their small country from a data flood they say was set off by orders from Russia or ethnic Russian sources in retaliation for the removal of the statue. There are still minor disruptions. (Herald Tribune)

CARACAS (AFP) - President Hugo Chavez's clampdown on opposition television stations widened Monday as police used rubber bullets and tear gas on demonstrators protesting what they called an attack on free speech.

WASHINGTON (MarketWatch) -- U.S. home prices fell 1.4% in the first quarter compared with a year earlier, the first year-over-year decline since 1991, according to the S&P/Case-Shiller home price index released Tuesday. A year ago, home prices were rising at an 11.5% pace. The 10-city price index fell 1.9% year-on-year through March, while the 20-city index dropped 1.4%. Thirteen of 20 cities have seen falling prices in the past year, led by Detroit and San Diego. Home prices rose 10% in Seattle. The national decline "is reaffirmation of the pullback in the U.S. residential real estate market," said Robert Shiller, chief economist for MacroMarkets LLC, and co-inventor of the index.

May 29 (Bloomberg) -- A tax-cut war is spreading across Europe as leaders of the continent's biggest economies give up criticizing smaller neighbors for slashing business rates and decide to join them instead.

May 29 (Bloomberg) -- Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.

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