Global News

"Tax prep specialist H&R Block Inc late Tuesday said its fiscal fourth quarter earnings fell 11 percent from last year, owing to restructuring costs and store closures. "

"Sales of new single-family houses in May reached the highest level since April 2010, showing that the US housing market is looking up and that the industry is no longer a drag on the broader US Recovery. "

"The FAA has directed airlines to put back redesigned oxygen systems in aircraft lavatories, a year after it had ordered them to be removed on concerns that they could be used by terrorists as weapons."

"The rapper Curtis "50 Cent" Jackson has been released from a hospital after suffering minor injuries when his SUV was involved in a traffic accident early Tuesday morning in New York. "

"Leveraged buyout firm Kohlberg Kravis Roberts has agreed to take a 63 percent stake in Australia's GenesisCare for an undisclosed sum. "

"A project that started in 2008 for revamping the McCarran International Airport at Las Vegas will finally culminate this week with the opening of a $2.4 billion airport terminal that will help lift the economy of Nevada from the deep abyss of the Great Recession."

"Clients of hedge fund manager J. Ezra Merkin, who were victims of Bernard Madoff's historic investment scam, can breathe easy as they will now receive $405 million as per a settlement announced Sunday. Attorney General of New York state said that the agreement represented "a victory for justice and accountability." "

"Moody's downgrades credit ratings of 28 Spanish banks. The announcement comes on day Spain's government formally asked for $125bn loan package to recapitalize its banks. "

"Hooters-style restaurants like Twin Peaks are experiencing a mini-boom even as other mid-priced options like Applebee's and Bennigan's are feeling the heat of the economic downturn, as they provide food not merely for the stomach but also for the male ego. "

"A tentative agreement has been reached between Lockheed Martin Corp and the Machinists Local 776 union late Saturday after negotiations started Wednesday. The machinists will vote this week on a new labor contract. "

"Sony and Panasonic are planning a strategic cooperation to make OLED (organic light emitting diode) television sets in order to meet the challenge of Korean rivals Samsung and LG Electronics. "