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October home sales rise 10.1 pct from September
By ALAN ZIBEL (AP Real Estate Writer)
From Associated Press
November 23, 2009 11:13 AM EST

WASHINGTON - U.S. home resales far exceeded expectations last month, surging to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit.

NEW YORK - Stocks are surging as a report showing a big jump in home sales renews the market's optimism about the economy. The National Association of Realtors says home sales rose 10.1 percent in October, spurred by a tax credit for first-time homebuyers.

NEW YORK - Stocks surged in early trading Monday as the dollar continues to weaken and investors try to snap a three-day losing streak.

CAMDEN, N.J. - Campbell Soup Co., the world's largest soup maker, said Monday its first-quarter earnings rose 17 percent as lower costs and more efficient supply chain offset the impact of a decline in soup sales.

ST. PETERSBURG, Russia - A cutting-edge French warship sailed into St. Petersburg Monday to show off its capabilities to potential buyers in the Russian navy, whose pursuit of an amphibious assault capacity is frightening some neighboring countries.

LONDON - Shares in British chocolate maker Cadbury PLC hit their highest level in at least five years Monday on reports that another rival, Switzerland's Nestle SA, may make a takeover bid.

SPRINGDALE, Ark. - Tyson Foods Inc., the world's largest meat producer, said Monday that a hefty impairment charge in its beef business left it with a loss for the fourth quarter.

LONDON - The international economy is still fragile and vulnerable to shocks despite recent improvements in financial markets, the managing director of the International Monetary Fund said Monday.

WASHINGTON - A leading Senate Democrat said Monday his party is determined to push through a health care overhaul bill with or without Republican support because the "system is broken."

SPRINGDALE, Arkansas - Tyson Foods, the world's largest meat producer, lost money in its fiscal fourth quarter primarily on a hefty goodwill impairment charge.

PARIS - Seventeen executives at Airbus parent company EADS went on trial Monday for allegedly making millions in profits on the back of their company's troubles with the delayed A380 superjumbo project.

Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.

WASHINGTON - Sen. Charles Schumer says majority Democrats will push through a bill overhauling the health care system with or without Republican support.

WASHINGTON - Home resales for October are projected to rise to the highest level in more than two years as first-time buyers, anticipating that a tax credit would soon expire, rushed to beat the clock.

NEW YORK - Television retailer QVC has made aggressive plans to keep shoppers watching - instead of mall-hopping - on Black Friday, an event it has traditionally ignored.

Oil prices rose above $78 a barrel Monday as Iran's war games, aimed at protecting its nuclear plants, deepened tensions in the oil-rich region.

The vampire romance "The Twilight Saga: New Moon" sucked up $140.7 million in its first three days and pulled in a total of $258.8 million worldwide, according to studio estimates Sunday.

WASHINGTON - For consumers, the health care bills taking final shape in Congress don't rate close to a perfect 10. The Democratic measures would leave 12 million or more eligible Americans uninsured.

HEGANG, China - Grieving family members demanded answers Monday from mining officials about the underground gas explosion that left at least 104 men dead in northeastern China.

LONDON - World markets rose sharply Monday amid further hopeful signs about the economic recovery. Commodity stocks led the charge, particularly in London, after gold hit another record high amid renewed dollar weakness.

LONDON - British oil exploration company Heritage Oil PLC said Monday it has agreed to sell its stakes in two Ugandan fields to Italy's Eni SpA for up to $1.5 billion.

FRANKFURT - Germany warned fellow European governments on Monday against offering financial aid to General Motors Europe in exchange for job guarantees, hours ahead of a meeting in Brussels to discuss the future of the company.

ST. PETERSBURG, Russia - A French amphibious assault ship like the one Russia hopes to buy arrived Monday in St. Petersburg, fueling concern in Georgia and other ex-Soviet nations that Russia is upgrading its navy to intimidate its neighbors.

LAREDO, Texas - A U.S. program that offers trusted trucking companies speedy passage across American borders has begun attracting just the sort of customers who place a premium on avoiding inspections: Mexican drug smugglers.

PARK FALLS, Wis. - Forests are a treasure trove of limbs and bark that can be made into alternative fuels and some worry the increasing trend of using that logging debris will make those materials too scarce, harming the woodlands.