Business briefs [Telegraph-Herald (Dubuque, IA)]
(Telegraph-Herald (Dubuque, IA) Via Acquire Media NewsEdge) Manufacturing pace hits 2-year peak
WASHINGTON - U.S. factories expanded last month at the fastest pace since June 2011 on a jump in orders.
The Institute for Supply Management, a trade group of purchasing managers said its manufacturing index rose to 55.7 in August from 55.4 in July. That topped the index's 12-month average of 52. A reading above 50 indicates growth.
Microsoft will buy Nokia phones, patents
REDMOND, Wash. - Microsoft Corp. is buying Nokia Corp.'s line-up of smartphones and a portfolio of patents and services in an attempt to mount a more formidable challenge to Apple Inc. and Google Inc. as more technological tasks get done on mobile devices instead of personal computers.
The $7.2 billion deal announced late Monday marks a major step in Microsoft's push to transform itself from a software maker focused on making operating systems and applications for desktop and laptop computers into a more versatile and nimble company that delivers services on any kind of Internet-connected gadget.
Construction spending posts strong gains
WASHINGTON - Spending on U.S. construction projects rose in July, led
by strong gains in housing and nonresidential projects.
Construction spending increased 0.6 percent in July compared with June, when activity was unchanged, the Commerce Department reported. The June performance represented an upward revision from an initial estimate that spending had fallen 0.6 percent.
Home prices jump 12.4% in July
LOS ANGELES - U.S. home prices jumped 12.4 percent in July from a year earlier, reflecting a housing market that's increasingly favoring sellers amid a tight supply of available homes for sale.
Real estate data provider CoreLogic said Tuesday that home prices in every state but Delaware climbed on annual basis in July.
The Associated Press
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