Sales of previously owned U.S. homes rose in January to the highest level since May 2010 as investors took advantage of lower prices to buy distressed properties. Purchases climbed 4.3 percent to a 4.57 million annual rate, less than forecast, from a revised 4.38 million pace in December that was slower than previously estimated, a report from the National Association of Realtors showed today in Washington. Distressed properties made up the largest portion of all purchases since April. Almost one in four of all transactions was made by investors. That’s helping to clear the market of unsold properties and may stabilize prices. While the threat of more foreclosures risks slowing progress, housing may get a boost from gains in employment and mortgage rates that are near record lows. “I don’t think we’re seeing a full-fledged recovery in housing,” said Michelle Meyer, a senior economist at Bank of America Corp. in New York. “Outside of investors and people wanting to buy distressed properties, the primary housing demand is recovering much more gradually.” Bloomberg
Submitted 51 minutes ago

We now know President Obama can sing. President Clinton's a sax man. President George W. Bush? Well, we may not go as far as to call him a drummer, but we've seen him drum (He dances, too!). Are we on the verge of seeing a presidential supergroup? Probably not. But after Obama took the mic at last night's celebration of blues music at the White House, we're turning the amps to 11 for this Gotta Watch featuring performing presidents. CNN
Submitted 56 minutes ago

Will there be a time in our lives when cars don’t crash? When a Mustang can warn a BMW that it’s changing lanes – or when we can just sit back and relax and our cars will drive themselves? Auto technology experts say “yes." And they say that some of those advances may happen quicker than you might think. “We are seeing just seismic changes as we speak,” said Scott Belcher, president and CEO of the Intelligent Transportation Society of America. CNN
Submitted 1 hour ago

Mesa, Arizona (CNN) -- Twenty-seven days. That's how long it has been between the 19th and 20th Republican presidential debates. But that ends Wednesday, when former Massachusetts Gov. Mitt Romney, former Sen. Rick Santorum of Pennsylvania, former House Speaker Newt Gingrich and Rep. Ron Paul of Texas face off at a debate hosted by CNN and the Republican Party of Arizona at the Mesa Arts Center. CNN
Submitted 1 hour ago

Just because Apple (AAPL) hasn’t done something before under Steve Jobs‘ tenure, doesn’t mean that Tim Cook won’t consider it. Cook’s already demonstrated that when it comes to the possibility of Apple paying a dividend. There’s still no announcement, but all indications from his earnings call comments and recent appearance at the Goldman Sachs (GS) Technology Symposium are that one is coming – probably a small regular dividend that still won’t take Apple’s cash balance much below $100 billion. Forbes
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Car companies have conversations all the time, about all kinds of projects. But a possible link up between General Motors and France’s PSA Group, which owns Peugeot and Citroen, could help each company address some pressing needs. The talks were confirmed Wednesday by France’s labor minister, Xavier Bertrand, who said he had been briefed by PSA chief executive Phillipe Varin on Tuesday night, about the discussions. Forbes
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NEW YORK (CNNMoney) -- After more than a year in the making, the Obama administration on Wednesday released its plan to overhaul the corporate tax code. The main proposal for reform would slash the corporate tax rate to 28% from 35% and pay for the reduction by eliminating "dozens" of business tax breaks. There are currently more than 130 on the books. The Obama administration's plan is in sync with Republicans in terms of wanting to lower the top rate. But Republicans want to lower the corporate rate even further to 25%. There are also many other differences between their plans, and with Congress stuck in election-year gridlock, the odds of passage of any corporate tax reform plan this year are long. CNN
Submitted 1 hour ago

(CNN) -- The Obama administration's breach of religious freedom and freedom of conscience through the Health and Human Services agency's contraception mandate has reignited the national conversation about the Patient Protection and Affordable Care Act, or "Obamacare." Obamacare encapsulates many of the major conservative objections to President Barack Obama's presidency: the vast and costly expansion of government, increased taxes and regulations and the infringement of personal and religious liberties as is now being litigated in the federal and Supreme Courts. CNN
Submitted 1 hour ago

If you’re searching for signs of hope in Northeast Florida’s economic future, consider looking to the area’s growing Asian-born population. That was the message from several people Tuesday who said that Asian immigrants are already helping to drive Jacksonville’s economy. “We are very much entrepreneurs. We’re driven to be business owners, business executives,” said Eric Nguyen, a member of the Vietnamese Association of Jacksonville. He was one of more than 100 people who came to an entrepreneurship and small business conference at the Main Library. The event was open to anyone, but a majority of the attendees were born in or traced their ancestry to Asia. Florida Times-Union
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Georgia lawmakers are considering a bill aimed at boosting investment in renewable energy production. A bill introduced into the Georgia Senate Feb. 7 would let businesses and other property owners finance the installation of solar panels and other types of renewable projects through third parties. Current law allows such projects but only if the business puts up the money and owns and operates the system. Atlanta Business Chronicle
Submitted 1 hour ago