Business news briefs
Published: October 15, 2012 06:22PM
Updated: February 7, 2013 11:31PM

Morgan Stanley

faces mortgage

bias lawsuit

Morgan Stanley is accused in a proposed class-action lawsuit in New York of discriminating against black homeowners by providing strong incentives to a subprime lender to originate mortgages likely to go unrepaid. The lawsuit was filed by the American Civil Liberties Union.

Retailers saw

sales jump

in September

Americans stepped up their spending at retail businesses in September. The 1.1 percent increase, to $412.9 billion, was driven by another strong month of auto sales and the release of the iPhone5. Sales rose in most major categories, the Commerce Department said.

Japan’s Softbank

to buy 70% of

Sprint for $20.1B

Tokyo-based Softbank deal to grab a 70 percent stake in Sprint for $20.1 billion gives the struggling U.S. company an infusion of cash and confidence. The deal positions Sprint Nextel as a stronger competitor to market leaders Verizon Wireless and AT&T.

Pizza Hut steps

away from

debate stunt

Pizza Hut is rethinking its contest daring people to ask “Sausage or Pepperoni?” of either President Obama or challenger Mitt Romney at their debate Tuesday. The proposed stunt, which offered a pie a week for 30 years or a $15,600 check, triggered a backlash. Pizza Hut now says it’s moving the promotion online. A contestant will be randomly selected to win free pizza for life.

XBox Music to

offer tunes

free on tablet

Buyers of tablets that run Microsoft’s newest operating system, Windows 8, are in for a pleasant musical surprise. They’ll be able to pick from millions of songs and stream them for free as long as they put up with an audio ad every 15 minutes.