Housing starts hit record low in April

Date: Tue, 19 May 2009 12:01:21 -0400

Housing starts hit record low in April

HOUSING WON'T LEAD THE RECOVERY

Led by a huge drop in apartments and condo construction, U.S. housing
starts cratered again in April, falling 13% to the lowest level in the
post-war era, depressing the bulls and emboldening the bears. But
housing won't lead us out of the recession.

HOME DEPOT PROFIT RISES A BETTER-THAN-EXPECTED 44%

Home Depot's first-quarter profit rises 44%, excluding store-closing
costs, and the Atlanta home-improvement chain sticks to its outlook
for the year.

SAKS SWINGS TO A LOSS AS LUXURY DEMAND FALTERS

Saks Inc. swings to a smaller-than-expected first-quarter loss Tuesday
after the luxury retailer controlled expenses and inventory amid
faltering demand for upscale goods.

MARKS & SPENCER SHARES DROP AS DIVIDEND IS SLASHED

Shares in Marks & Spencer drop more than 7% as bellwether U.K.
retailer reports net income fell 38% and slashes dividend by a third.