ECONOMY & MARKETS

U.S. home prices hit their lowest level since subprime mortgages began imploding in mid-2006, with 20 metro regions falling 3.9 percent in December compared to the prior year, according S&P/Case-Shiller Home Price Index data released Tuesday.

Orders for U.S. factory goods fell in January, as demand for items including machinery and aircraft fell. The decline of 4 percent is the steepest since January 2009, ending two consecutive months of increases and suggesting the economy might not be quite as robust as many experts have believed.

New orders for manufactured goods fell in January by the most in three years as demand fell across the board from machinery to aircraft, suggesting the economy started the year on weaker footing than expected.

Wayin, the new social media venture backed by Sun Microsystems founder Scott McNealy, announced it has raised $14 million in Series B funding from U.S. Venture Partners.

Mortgage interest rates continue to fall, amid concern about a sluggish U.S. economy and the European government debt crisis -- but U.S. home prices are declining in many markets, as well. What should Americans who are possibly thinking about buying a home do now?

Proview has stated that it has amended its California lawsuit to include accusations that Apple has committed fraud and unfair competition.

Despite talk of an improving economy and a surge in stock markets, doomsayers have warned of tougher times ahead for Americans with an imminent financial crash looming in the near future.

Priceline.com Inc., which is the biggest U.S. online travel agency by market value, reported a fourth quarter profit $226 million as total bookings rose more than 50 percent from a year ago to $4.96 billion.

Japan's Nikkei average retreated from a seven-month high Tuesday as traders took profits ahead of a key selling level, while the chip sector suffered losses after Elpida Memory Inc said it will seek bankruptcy protection.

Standard & Poor's on Monday cut Greece's credit rating to SD, or selective default.

Seventy-five years ago, Mopar began as a name for an antifreeze product. That antifreeze brand has grown into the global automobile parts and service arm of Chrysler Group LLC, and its latest announcement further expands its global footprint.

Warren E. Buffett, whose Berkshire Hathaway holding company has made him one of the richest men around, said he’s pleased by new holdings in technology.

Even the world's most revered investor makes mistakes. Warren Buffett admitted he was dead wrong when he predicted a housing recovery last year in his annual letter to shareholders of Berkshire Hathaway, released over the weekend.

The European Central Bank is ready to engage in a new round of aggressive liquidity provision this week, flooding European banks with hundreds of millions of euro worth of cheap financing meant to prop up the tattered European banking and sovereign credit funding systems.

Nissan Motor Co. is recalling nearly 80,000 vehicles in the United States to address gasoline leaks, the company said in documents filed with the U.S. National Highway Traffic Safety Administration.

Business conditions in Texas-area manufacturing continued to expand at a solid pace in February, according to a report released Monday by the Federal Reserve Bank of Dallas.

Profits at the nation's second-largest home improvement retailer rose more than expected in the just-ended quarter as a warmer-than-usual winter, an incipient recovery in the U.S. housing sector and consumer's willingness to once again charge their purchases to their credit cards combined to help boost sales.

Pending sales of U.S. homes rose by two percent in January from the previous month, according to the National Association of Realtors, beating expectations.

The S&P/Case-Shiller Housing Index is expected to show further price erosion throughout the country when figures are released on Feb. 28, according to analysts and housing experts.

Apple again refrained from paying dividends, despite a huge amount of cash on its balance sheet and clamor from some stockholders.

Warren Buffett, the head of U.S. investment company Berkshire Hathaway, said the firm had chosen his successor but did not identify the person.

Royal Ahold NV, the Dutch supermarket retailer, has announced that it has bought Bol.com, the largest online retailer in the Netherlands, from Cyrte Investments and NPM Capital for 350 million euros ($469 million).

The top after-market NASDAQ gainers Friday were: Vocus, EarthLink, Idenix Pharmaceuticals, Leap Wireless International and Silicon Motion Technology Corp. The top after-market NASDAQ losers were: RTI Biologics, 51job, Broadcom Corp, The Andersons and Bio-Reference Laboratories.

Roche, the Swiss drugmaker, has announced that it has extended its tender offer to acquire all outstanding shares of Illumina, Inc., for $44.50 in cash per common share until March 23.

The top aftermarket NYSE gainers Friday were: MetroPCS Communications, Gray Television, United States Cellular Corp, Lions Gate Entertainment Corp and MedcoHealth Solutions. The top aftermarket NYSE losers were: Scudder Strategic Municipal Income Trust, Qihoo 360 Technology Co, Interpublic Group of Companies, Renesola Ltd and Stryker Corp.

The trial on the compensation for the Gulf of Mexico oil spill in 2010 has been delayed until March 5 with negotiations continuing on what should be the amount that BP should be paying.

The euro gained broadly Monday as signs of fresh steps from the Group of 20 major economies to contain the euro zone debt crisis boosted sentiment, but higher oil prices hurt Asian stocks.

Perhaps familiarity does breed contempt. The biggest U.S. companies have often failed to meet forecasts this earnings season, while their smaller counterparts have delivered.

Why is one professional observer so negative about America's short-term economic prospects?