Daily business briefing: Home prices highest in six years

July 30, 2013 

Analysts believe the housing market's recovery is gaining more steam. U.S. home prices increased by 12.2 percent in May over May 2012, the biggest annual gain since March 2006. The month-over-month gain nearly matched the 2.6 percent increase in April from March -- the highest on record. ...

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JP Morgan Chase & Co. has been fiend $410 million for manipulating electricity prices in California and the Midwest. The Federal Energy Regulatory Commission says the bank used improper bidding strategies to squeeze excessive payments from the agencies that run the power grids in California and the Midwest. ...

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President Barack Obama is offering to cut corporate tax rates in exchange for job investments. Obama plans to propose a "grand bargain for middle-class jobs" next week as part of his plan to reduce the deficit. This is a reversal of his previous stance and says he's open to corporate tax cuts. Read more at http://www.bnd.com/business. ...

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The dispute over operating fees between Time Warner Cable and CBS Corp. lead to a brief blackout Monday. The cable provider threatened the blackout and briefly pulled the plug that left about 3 million customers in New York, Los Angeles and Dallas without the network and four CBS cable stations because Time Warner says CBS has made "outrageous demands for fees."

-- Will Buss, BND business writer

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