Housing starts surge 22% on apartment building

Date: Tue, 17 Mar 2009 12:01:31 -0400
Housing starts surge 22% on apartment building

Boosted by an 82% increase in construction of apartment buildings,
U.S. housing starts surge 22% in February to a seasonally adjusted
annual rate of 583,000, the Commerce Department estimates.

ACKMAN'S PERSHING SQUARE NOMINATES FIVE FOR TARGET BOARD

Pershing Square Capital Management, headed by activist investor Bill
Ackman, plans to nominate five candidates for election to Target's
13-member board. The discounter stands by directors up for reelection
this year.

NOKIA TO CUT 1,700 JOBS AS CELL-PHONE DEMAND FALTERS

Nokia, the world's largest maker of cell phones, says it is cutting
1,700 jobs worldwide in response to "pruned" demand from consumers.

FUTURES MOVERS: OIL RISES NEARLY 3% TO ABOVE $48 A BARREL ON U.S. DATA

Oil futures rally nearly 3% to above $48 a barrel, as data showing a
surge in U.S. housing starts offset expectations that U.S. crude
inventories rose last week.