Business news briefs
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.
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.
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
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
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.