U.S. sales of new homes fall to a seven-year low in February

Date: Mon, 26 Mar 2007
11:40 am ET
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U.S. sales of new homes fall to a seven-year low in February

WASHINGTON
Sales of new homes unexpectedly dropped in February to the lowest level
seen in nearly seven years, while inventories of unsold homes rose to a
16-year high, suggesting that the nation's housing market was softening
heading into the vital spring buying season.

Citigroup may cut up to 15,000 jobs: report

SAN FRANCISCO
Citigroup Inc. executives are putting the finishing touches on a
restructuring plan that is likely to involve around 15,000 job cuts from
the global banking company's 327,000 employees and a charge against
earnings of more than $1 billion, according to a media report Monday.