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U.S. markets news

Sumner Redstone names new trustees who are 'loyal' to him
Last week media mogul Sumner Redstone booted Philippe Dauman and George Abrams from his trust. Now Redstone has appointed one of his lawyers and one of his family friends as replacements.
Sumner Redstone names new trust members expected to replace Viacom CEO ...  Los Angeles Times
Sumner Redstone appoints two new members to his trust  Reuters
New York Times  
French tax police raid Google's Paris office
French police have raided Google's Paris office as part of an investigation into the company's tax affairs. The raid began at 5 a.m.
Google's French Headquarters Raided by Tax Investigators  Wall Street Journal
French raid Google over "aggravated tax fraud" allegations  CBS News
Gawker Founder Suspects a Common Financer Behind Lawsuits
Hulk Hogan, center, won a $140 million jury award in his defamation case against Gawker over the publication of a sex tape. Credit Eve Edelheit/Tampa Bay Times, via Associated Press.
Gawker seeks rematch with Hulk Hogan  WPTZ
Does Silicon Valley have it out for Gawker founder Nick Denton?  New York Business Journal
US new home sales race to eight-year high, prices surge
WASHINGTON New U.S. single-family home sales surged to a more than eight-year high in April and prices hit a record high, offering further evidence of a pick-up in economic growth that could allow the Federal Reserve to raises interest rates soon.
New-home sales jump to highest level in more than 8 years  CBS News
New-home sales exploded in April: What it means for buyers, sellers  USA TODAY
U of Chicago to create $50 million entrepreneurship center
CHICAGO (AP) - The University of Chicago plans to create a $50 million entrepreneurship and innovation center. The school announced late Monday that the center will be funded with a commitment of $50 million from University Trustee Michael Polsky, ...
New $35M donation expands Polsky Center at U of C  Chicago Sun-Times
UChicago Gets $35M to Expand Polsky Center for Entrepreneurship  Chicago Inno
EU Clears AB InBev's $108 Billion SABMiller Takeover
BRUSSELS—The European Union on Tuesday approved Anheuser Busch InBev BUD 2.30 % NV's roughly $108 billion takeover of rival SABMiller SBMRY 1.05 % PLC on condition that the brewer sheds almost all of SABMiller's European assets.
EU regulators clear $100 billion-plus AB InBev, SABMiller deal  Reuters
EU gives go-ahead for huge beer merger  Tulsa World
Oil rises on US crude drawdown hopes, Wall Street rally
NEW YORK Oil prices rose on Tuesday as investors anticipated a weekly drawdown in U.S. crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support.
The new normal in oil prices? Wild swings  CNNMoney
Oil Advances as U.S. Crude Inventories Projected to Decline  Bloomberg
Best Buy forecasts profit below estimates, shares plunge
Best Buy Co Inc's (BBY.N) earnings beat expectations on Tuesday and the company registered strong online sales growth, but a lower-than-expected outlook for current-quarter profit sent its shares down more than 7 percent in early trade.
Best Buy CFO Departure and Outlook Disappoint Analysts  Wall Street Journal (blog)
Best Buy's online sales grew 24 percent in Q1, shares take a hit on soft ...  ZDNet
UPDATE 1-Wells Fargo lowers targets for returns on equity, assets
(Adds details on asset sensitivity). May 24 Wells Fargo & Co lowered two key companywide financial targets on Tuesday, citing low interest rates, higher credit and compliance costs and increased regulatory capital requirements.
Vikings stadium photo-bombing tussle not subsiding  Minneapolis Star Tribune
Wells Fargo 'Largely' Backs Guidance, Lags Peers  Barron's (blog)
Sports Authority's Liquidation Sale Starts on Wednesday
“Although it's a mess, it's a great opportunity,” says Dick's CEO. The Sports Authority will begin its going-out-of-business sales at all 463 of its stores on Wednesday after failing last month to find a bidder in a bankruptcy auction willing to keep ...
Sports Authority shutting down with giant going-out-of-business sale  USA TODAY
88 to be laid off at Sports Authority's NJ distribution center