Financial news on May 26, 2007

Business and Financial news
China Makes a U.S. Deal, but It’s Not With Washington

The United States and China ended talks with unfinished business, as China took a $3 billion stake in the Blackstone Group. Read more..

By STEVEN R. WEISMAN - The New York Times

Coca-Cola Agrees to Buy Vitaminwater

The Coca-Cola Company announced today that it will buy Glaceau, the maker of Vitaminwater, for $4.2 billion in cash. Read more..

By ANDREW ROSS SORKIN and ANDREW MARTIN - The New York Times

Coke Takes $4 Billion Step Away From Carbonation

The Glacéau deal offered evidence that coming up with a new beverage, or putting a new twist on an old one, can be lucrative. Read more..

By ANDREW MARTIN - The New York Times

E.U. Probes Google Over Data Retention Policy

Google has been warned that it may be violating European Union privacy laws by storing search data for up to two years. Read more..

By KEVIN J. O’BRIEN and THOMAS CRAMPTON - The New York Times

Medicare Plans to Deny Coverage of Artificial Disks

The preliminary decision applies to patients over 60, which is most of the 43 million people Medicare covers. Read more..

By BARNABY J. FEDER - The New York Times

Nasdaq Agrees to Buy OMX, Operator of 7 Stock Exchanges in Europe

The $3.7 billion deal will form the Nasdaq OMX Group that will list more than 4,000 companies with a combined market value of $5.5 trillion. Read more..

By JULIA WERDIGIER - The New York Times

One-Stop Car Insurance Service, Body Work Included

Insurance companies are testing one-stop service centers, which handle every aspect of the claim from a car accident. Read more..

By JOSEPH B. TREASTER - The New York Times

Sales of Existing Homes Fell in April

Sales of previously owned homes declined last month as the supply of unsold properties on the market ballooned and prices declined compared with those a year earlier. Read more..

By JEREMY W. PETERS - The New York Times

Sallie Mae Chairman’s Payout Is Tallied

Albert L. Lord will receive $224.9 million for his stock options as part of the company’s $25 billion takeover. Read more..

By BLOOMBERG NEWS - The New York Times

Speaking Up in Fresh Air at Home Depot

The chain’s new chief executive was everything his predecessor was not: folksy, sincere, occasionally funny and often self-deprecating. Read more..

By JOE NOCERA - The New York Times

See what else happened on May 26, 2007