Business news briefs
Gauge of economy
shows some strength
A measure of the U.S. economy's future health rose solidly in April, buoyed by a sharp rise in applications to build homes and a better job market. The Conference Board said its index of leading indicators increased 0.6 percent last month to a reading of 95. The index is intended to signal economic conditions three to six months out.
Morning CEO sues
The former CEO of Tuesday Morning has filed a discrimination lawsuit against the discount retailer, saying she was fired just months after revealing she had breast cancer. The lawsuit by Kathleen Mason says she was fired during a phone call last June, even though she had overseen the company's growth during her tenure.
Bloomberg LP, the financial news and information service, said it has appointed Samuel Palmisano, the former CEO of IBM, as an independent adviser on its privacy and data standards. The move comes a week after revelations that Bloomberg journalists snooped through customers information using Bloomberg's data terminals.
soars in debut
Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised $254.2 million in its initial public offering. The Seattle-based firm provides software that helps businesses convert data into visual presentations. The shares jumped $17.50, or 56 percent, to $48.50 in morning trading before closing at $50.75, up 64 percent.
Transocean Ltd. shareholders voted out the oil drilling company's chairman and backed one of Carl Icahn's director nominees. But they decided against the billionaire investor's proposal for a $4 dividend. Under intense pressure from Icahn, J. Michael Talbert had already said he would retire as chairman by November.
News pushed oil
above $96 a barrel
The price of oil rose to $96 a barrel on Friday on hopes that a steady recovery in the U.S. economy could boost fuel use. Benchmark oil for June delivery rose 86 cents, to close at $96.02 a barrel on the New York Mercantile Exchange. But even with three straight days of gains, oil finished the week down 2 cents.
A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010.
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