Stocks rise in European markets

European stocks rose for the first time in three days after earnings from Lafarge SA, Deutsche Boerse AG and British American Tobacco Plc beat analysts' estimates. US index futures and Asian shares retreated.

Sprint Nextel unveils wireless network venture

Sprint Nextel Corp is combining its planned high-speed wireless network with Clearwire Corp, creating a venture with funding from technology and cable companies.

Retailers feeling pinch

European retail sales declined 1.6 percent in March, the most since at least 1995 and twice as much as economists forecast, as soaring fuel and food costs sapped consumer spending.

How much is NYSE really worth?

What's the New York Stock Exchange worth these days without Euronext NV, the pan-European market that it bought last year to form NYSE Euronext? Not all that much, based on a comparison of market values.

IN BRIEF (Page 17)

Business International

UBS to axe 5,500 jobs

UBS AG, battered by $17.3 billion of first-quarter losses at its investment-banking unit, plans to cut 5,500 jobs and said clients withdrew a net $12.2 billion from its asset- and wealth-management divisions.

Yang says he may sell if the price is right

Yahoo Inc Chief Executive Officer Jerry Yang, criticized by some investors for rejecting Microsoft Corp's $47.5 billion takeover bid, said he'll consider selling to the software company or another bidder for the right price.

Crude oil gets close to $121 mark

Crude oil was little changed after reaching a record near $121 a barrel amid supply risks in Nigeria and Iran and signs of stronger US demand.

IN BRIEF (Page 17)

Fannie Mae posts $2.19b Q1 net loss

Fannie Mae, the largest US mortgage-finance company, reported a wider loss than analysts estimated and said it will cut its dividend and raise $6 billion in capital to help overcome the worst housing slump since the Great Depression.

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