Business briefs: Fewer home contracts seen in February, Wal-Mart anticipates loss over bribery inves
Source: Star Telegram
Fewer Americans signed contracts to buy homes in February, but the level stayed near a three-year high and analysts believe sales of previously occupied homes will keep rising in the coming months.
The National Association of Realtors said Wednesday that its seasonally adjusted index for pending home sales dipped to 104.8 in February. That's down from January's reading of 105.2 -- the highest since April 2010, when a homebuyer's tax credit was boosting sales.
* Wal-Mart expects loss over bribery inquiry
Wal-Mart Stores Inc. said it is "probable" that the world's largest retailer will incur a loss because of ongoing bribery investigations by itself and government agencies but says it's too early to speculate on the size of the damage.
The company said it does not expect the loss to be material. The statements came in a filing with the Securities and Exchange Commission Tuesday.
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