Financial news on May 24, 2008

Business and Financial news
Boom Times for Brazil’s Consumers

Thanks to a newfound economic stability and vitality, Brazil’s economy and middle class are growing, the former fueled by high commodity prices and the latter by the availability of credit. Read more..

By ANDREW DOWNIE - The New York Times

Cellphone Pioneer Struggles to Stay Relevant

Motorola’s reversal of fortunes has been striking, with a global market share of the cellular phone market below 10 percent, a plunge from 22 percent in 2006. Read more..

By LAURA M. HOLSON - The New York Times

Existing Home Sales Fell in April to Another Low

Sales of previously owned homes, which make up the bulk of the housing market, dipped 1 percent last month, according to the National Association of Realtors. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Rogue French Trader May Have Had Help, Audit Finds

A 71-page internal audit said Jérôme Kerviel might have been helped by an assistant when he entered fake trades or unwound unauthorized positions at Société Générale. Read more..

By KATRIN BENNHOLD - The New York Times

The Sinatra of Southwest Feels the Love

American and Southwest hold shareholder meetings on the same day, but the gatherings couldn’t be more different. Read more..

By JOE NOCERA - The New York Times

See what else happened on May 24, 2008