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H&R Block's Option One sale in doubt

NEW YORK (Reuters) - H&R Block Inc , the largest U.S. tax preparer, said it was trying to renegotiate the sale of its Option One Mortgage Corp unit and would get out subprime lending after its quarterly loss more than doubled.

Freddie Mac net profit tumbles as defaults rise

WASHINGTON (Reuters) - Freddie Mac , the nation's second-largest source of home loan funding, said on Thursday its second-quarter net income fell 45 percent from a year earlier as more borrowers defaulted on their loans.

Growth recovers but jobless claims up

WASHINGTON (Reuters) - The U.S. economy grew at an annual rate of 4 percent in the second quarter, as strong business investment led the fastest pace of expansion since early last year, the government reported on Thursday.

Tech stocks spur rise on Wall Street

NEW YORK (Reuters) - Stocks rose on Thursday as technology shares advanced on a bet that business spending will support the sector's profits even as the housing slump hampers growth in other parts of the economy.

House price appreciation slowest since '97: OFHEO

NEW YORK (Reuters) - Average house prices rose 3.2 percent in the second quarter from a year ago, representing the slowest appreciation in a decade, the Office of Federal Housing Enterprise Oversight said on Thursday.

Whole Foods hopes to win over Wild Oats shoppers

CHICAGO (Reuters) - Whole Foods Market Inc on Thursday laid out plans to show longtime Wild Oats Markets Inc shoppers that the acquisition criticized by U.S. regulators can lead to lower prices and improved stores.

Liquidators assess bankrupt Australian Basis fund

SYDNEY (Reuters) - An Australian hedge fund felled by its exposure to risky credit derivatives filed for bankruptcy protection in the United States, and liquidators on Thursday were assessing how much money, if any, would be returned to investors.

BOJ says market tumult overdone

LONDON/SINGAPORE (Reuters) - France's Nicolas Sarkozy warned on Thursday of a threat to world growth posed by the U.S. home loan crisis but a Bank of Japan policymaker said the recent market turmoil had been overdone.

GM to cut Ontario jobs amid slow truck sales: report

NEW YORK (Reuters) - General Motors of Canada will cut about 1,000 jobs at a truck plant in Oshawa, Ontario, in January amid slumping pick-up sales, the Globe and Mail newspaper said in its online edition on Thursday.

Parking spaces for your cash

WASHINGTON (Reuters) - Cash is not trash, it's the basis for a successful financial life. Having some money stowed away for a rainy day will keep the tax bill, unexpected illness, or a broken appliance from stealing your peace of mind.

CNN to stop using Reuters news service

NEW YORK (Reuters) - The CNN cable television news network said on Thursday it would stop using the Reuters news service, ending a 27-year relationship, to cut costs and invest in its own news gathering operations.