IBT Staff Reporter

Economy Watch: New Home sales, manufacturing reports, construction activity

A spoof song which makes fun of Prime Minister Vladimir Putin's hard man image as the savior of Russia's battered economy has been winning fans on the Internet.

Specialty glass maker Corning Inc on Monday posted better-than-expected quarterly revenue, fueled by improved demand for glass for flat-screen television.

The recession-fueled advertising downturn underlines the urgency of using the Web to glean data and target consumers directly, rather than blasting them with a barrage of TV-style ads, media executives say.

Diversified U.S. manufacturer Honeywell International Inc reported a 38 percent decline in earnings as a slump in the aviation and construction markets eroded demand for its products.

Stocks were poised to open little changed on Monday as reduced outlooks from diversified manufacturer Honeywell Inc and health insurer Aetna Inc sparked caution.

Verizon Communications Inc posted a lower quarterly profit on Monday as weakness in its wholesale and corporate activities offset strength in its consumer wireless business.

The incidence of one type of heart attack has steadily decreased in the US since 1996, regardless of gender or ethnicity, to the lowest rates in years, according to a new study.

Over-the-counter allergy and asthma drugs helped obese, diabetic mice lose weight and control their blood sugar, researchers reported on Monday.

Indonesia has confirmed its first death linked to the H1N1 flu virus after a 6-year-old girl suffering from severe pneumonia died in Jakarta, the health ministry said.

Saudi Arabia, which is gearing up to host hundreds of thousands of Muslim pilgrims later this year, announced its first death from H1N1 flu Monday.

When will the housing slump finally end? Even the experts' crystal balls are hazy.

The Federal Reserve on Thursday recommended new disclosure rules for home owners that would make the process of getting a home mortgage more understandable.

Enjoying an iced coffee? Better skip dinner or hit the gym afterwards, with a cancer charity warning that some iced coffees contain as many calories as a hot dinner.

The retirement income specialist appointed Geoff Shanks as chief financial officer. Shanks joins from Zurich Financial Services.

Asset manager Henderson Global Investors (HGGH.L) said on Monday it has appointed Mark Carpenter, a director in its property division, as head of Henderson New Star property funds

Many real estate investment trusts (REITs) spent the first quarter avoiding a financial funeral, but when they report second-quarter earnings in the next weeks, some may be feeling a new sense of longevity.

A rebounding economy could signal a boost for AvalonBay Communities (AVB.N), a real estate company, Barron's said.

China Merchants Property Development Co (000024.SZ)(200024.SZ) said on Saturday that it would place up to 5 billion yuan ($732 million) in new shares with investors to purchase and develop property projects.

Alpha Natural Resources Inc said on Monday that second-quarter profit dropped more than 75 percent because of lower power generation and weakened steel mill production.

If you look upon fitness addicts as shallow narcissists suffering grimly for the body beautiful, it may be time to look again.

Saudi Arabia, the world's top oil exporter, is burning more crude in domestic power plants to keep new wells pumping and produce cleaner electricity, likely eliminating demand for imported fuel this summer.

Stock index futures were little changed on Monday as reduced outlooks from diversified manufacturer Honeywell Inc and health insurer Aetna Inc sparked caution.

Aetna Inc sharply cut its full-year earnings forecast on Monday because of higher-than-projected medical costs as the health insurer posted a 28 percent drop in second-quarter net income.

World oil consumption will rise for the first time in two years in 2010 as a recovery in the global economy boosts demand, according to a Reuters poll of top oil-tracking analysts and organizations.

A U.S. Treasury official overseeing compensation at firms that got big federal bailouts may renegotiate pay packages that he thinks are too generous, the Wall Street Journal reported on its website on Sunday.

Verizon Communications posted a smaller quarterly profit on Monday but revenue rose due to wireless subscriber growth and its purchase earlier this year of rural wireless operator Alltel.

RadioShack Corp reported a higher-than-expected quarterly profit on lower costs and improved sales of netbooks, prepaid wireless handsets and digital televisions, and the retailer's shares rose 4 percent.

Strong US corporate earnings and positive daily finishes in global equity markets along with a mixed bag of US economic data saw the Greenback lose ground against the Pound and EURO but hold steady against the YEN.