Roland Li

The global headquarters of Dewey & LaBoeuf LLP, a glass-sheathed office tower in midtown Manhattan, has a commanding view of a stretch of Sixth Avenue looking downtown. A pair of statues, designed by artist Jim Dine, rise from the plaza of the stately office, overlooking Rockefeller Center. But now, it will be the law firm's ornate tomb, a reminder of its glory days.

U.S. home prices in 20 major cities fell by 2.6 percent in March, hitting the lowest level since 2002, according to the S&P/Case-Shiller housing index released Monday.

Sam Zell, the Chicago real-estate mogul, has become so well-known for feasting on distressed assets that he's been called the grave dancer. This week, Zell took the nickname to the next level: He's about to receive $70 million from a ghost.

The CEO of a New York commercial mortgage company sold his personal condo at 15 Central Park West, one of the most expensive buildings in the world, for $23.3 million, according to city records filed Friday.

U.S. mortgages rates have dropped to record lows for four consecutive weeks, but that doesn't mean more homes will be sold. In fact, at least one housing expert argues that extremely low rates are causing banks to be even more stringent with underwriting approvals, turning away more prospective buyers and hurting the national housing market.

U.S. 30-year fixed mortgage rates dropped to 3.78 percent in the week ending May 24, down slightly from 3.79 percent in the previous week, mortgage financier Freddie Mac said Thursday.

Japanese restaraunt chain Benihana Inc. (Nasdaq: BNHN) has agreed to be taken private and sold to Angelo, Gordon & Co.'s private equity group for around $296 million after profits fell in the past year because of increased costs.

General Mills Inc. (NYSE: GIS), the maker of Cheerios cereal and Pillsbury pastries, said Wednesday it will cut 850 jobs to cut costs in the face of rising food prices.

U.S. sales of previously owned homes rose 3.4 percent in April, reversing three months of declines and suggesting a stabilization of the housing market, the National Association of Realtors said Tuesday.

Industrial manufacturer Eaton Corp. (ETN) said Monday it would buy electrical equipment company Cooper Industries Plc for $11.8 billion to expand into the electric industry.

Publisher Houghton Mifflin Harcourt filed for Chapter 11 bankruptcy protection Monday to restructure $3.1 billion in debt and reduce annual interest costs by around $250 million.

The General Motors Co. (NYSE: GM), the largest U.S. automaker, said Friday it will not advertise during the broadcast of the 2013 Super Bowl as it shifts its advertising strategy, according to the Wall Street Journal.

The world's 29 largest banks will need an extra $566 billion to comply with Basel III capital rules by the end of 2018, which could dampen their ability to increase dividends and buy back shares, according to Fitch Ratings.

U.S. 30-year fixed-rate mortgages hit a new record low for the third straight week as concerns over the euro zone weighed on the economy, mortgage financier Freddie Mac said Thursday.

The Japanese government and local companies will buy a 10 percent stake in Chevron Corp. (CVX)'s Wheatstone natural gas field in Australia for 350 billion yen ($4.37 billion), Nikkei newspaper reported.

General Electric Co. (NYSE: GE) said it would buy two mining equipment companies as it seeks to expand in the $61 billion global mining supplier industry.

Moody's Investors Service downgraded 26 Italian banks, including the country's largest lenders, as their economic performance weakened and the country's economic outlook remained troubled.

Homebuilder confidence in the U.S. single-family home market rose to a five-year high in May as buyer traffic increased and sales improved, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Tuesday.

Best Buy Co. (NYSE: BBY), the troubled electronics retailer, said Monday founder Richard Schulze was resigning as chairman and would be replaced by director Hatim Tyabji, after Schulze didn't tell the board that former CEO Brian Dunn was having an inappropriate relationship with a female employee.

The Spanish government agreed Friday to an independent audit of the holdings of its banking sector, as requested by the European Union. It also said that banks would be required to set aside more cash in the face of losses from toxic loans, as the country's economy teeters from high unemployment and weak economic output, and also offered high-interest loans for weaker lenders.

The Goldfield Corporation (NYSE Amex: GV), the U.S. southeast electric construction company, said Friday revenue nearly doubled in the quarter ended March 31 as construction activity increased.

Freddie Mac (OTC: FMCC), the second-largest U.S. mortgage guarantor, said Thursday it was appointing Donald Layton, the former head of E*Trade as its CEO.

The U.S. government had a budget surplus of $59.1 billion in April on increased tax revenue and spending cuts, the first surplus in more than three years, the Treasury Department said Thursday.

Fragrance maker Coty Inc. increased its bid to buy troubled Avon Products Inc. (NYSE: AVP), the world's largest direct sales beauty company, to around $10.7 billion on Thursday, putting more pressure on Avon's board to negotiate.

U.S. 30-year fixed-rate mortgage rates hit a new record low in the week ending May 10, following lower Treasury bond yields and weaker economic data in April, mortgage financier Freddie Mac said Thursday.

Priceline.com Inc. (Nasdaq: PCLN), the online travel agent, said first quarter revenue increased 28.2 percent to $1 billion as more customers used its airline and hotel booking services, particularly internationally.

While British lawmakers call Rupert Murdoch unfit to run a giant media conglomerate, shareholders might disagree. Despite recent declines, the company's stock price is up 20 percent to $19.17 in Wednesday trading from a six-month low in November and far above the $6 depths of March 2009.

Freddie Mac, the second-largest mortgage guarantor, will announce the appointment of Donald Layton, former head of E*Trade Financial Corp., as a new CEO as early as Thursday, the Wall Street Journal said.

Fannie Mae (OTC: FNMA), the government-controlled mortgage giant that was brought to its knees during the housing crisis, said Wednesday it had net income of $2.7 billion in the first quarter as home prices declined at a slower rate than in the previous quarter, and its book of business improved.