Financial news on March 26, 2011

Business and Financial news
A Housing Market Cycle Different From Others

The most recent housing market cycle is much different from previous ones. It isn’t just due to a decreased demand for homes, but a glut of used homes for sale. Read more..

By FLOYD NORRIS - The New York Times

Approval for Drug That Treats Melanoma

Yervoy, made by Bristol-Myers Squibb, is the first drug shown to prolong the lives of people with the skin cancer melanoma. Read more..

By ANDREW POLLACK - The New York Times

Europe to Test Safety of Nuclear Reactors

After a week of debating the future of nuclear power, E.U. leaders on Friday decided that reactors across all member nations should undergo safety tests in response to radiation leaks in Japan. Read more..

By JAMES KANTER - The New York Times

Florida Law Firm Pays $2 Million in Foreclosure Case

A Fort Lauderdale, Fla. lawyer has agreed to pay the state to settle allegations of improprieties in mortgage foreclosure cases. Read more..

By THE ASSOCIATED PRESS - The New York Times

German Business Confidence, While Still High, Slides a Bit

Latest Ifo Business Climate Index points to solid growth in Germany but signals that events in Japan and the Arab world could be giving rise to caution. Read more..

By JACK EWING - The New York Times

Insurance Dictated by the Bank

The practice of bank-imposed insurance — known as force-placed insurance — has become more widespread in parts of the country where foreclosures are prevalent. Read more..

By PAUL SULLIVAN - The New York Times

Judge in Italy Puts Off Ruling in Dolce & Gabbana Case

The investigation was prompted by the 2004 sale of the Dolce & Gabbana and D&G brands, which prosecutors came to believe was a front to pay lower taxes. Read more..

By ELISABETTA POVOLEDO - The New York Times

U.S. Growth More Robust Than Earlier Estimated

Consumer spending at the end of 2010 led economic growth, but higher fuel prices have lowered consumer sentiment this month. Read more..

By BLOOMBERG NEWS - The New York Times

Where to Turn When the Appliance Warranty Expires

It pays to do some homework before calling an appliance repairman. Read more..

By ALINA TUGEND - The New York Times

See what else happened on March 26, 2011