Bloomberg

Construction of US single-family houses in April dropped to the lowest level in 17 years, even as building of condominiums and townhouses rebounded. Builders broke ground on 692,000...more >

Reuters

Time Warner Chairman Richard Parsons yesterday said he is likely to step down in the next year, clearing the path for Chief Executive Officer Jeffrey Bewkes to assume the role. During opening...more >

By MARK DECAMBRE

The scythe is about to fall at investment banking powerhouse Lehman Brothers. The white-shoe firm is expected to cut about 5 percent of its workforce, according to a person familiar with the...more >

AP, Bloomberg, Reuters, N.Y. Post

Carlyle buy Carlyle Group, the private-equity firm run by David Rubenstein, agreed to buy Booz Allen Hamilton's US government-consulting business...more >

By PETER LAURIA

Two Detroit pension funds are claiming that Yahoo! is intentionally blocking public portions of their lawsuit against the company's board because it would lend support to Carl Icahn's efforts...more >

MULLS BID FOR DRAKE HOTEL SITE

By LOIS WEISS

A partnership of Kirk Kerkorian's MGM Mirage and investment company Dubai World has held discussions about buying the Drake Hotel site from developer Harry Macklowe, The Post has learned...more >

By BRIAN GARRITY

It's decision time once again for Electronic Arts boss John Riccitello. His company's $2 billion tender offer for Grand Theft Auto publisher Take-Two Interactive is set to expire...more >

CNET BUY ADDS BADLY NEEDED ONLINE PRESENCE

By BRIAN GARRITY

CBS boss Les Moonves yesterday moved to step up the Tiffany Network's presence on the Internet in a big way, announcing a deal to acquire San Francisco-based Web information and entertainment...more >

By PAUL THARP

Despite his recently failed deals and huge new losses, Wall Street is starting to throw even more billions at Steve Schwarzman and his Blackstone Group, sending its shares higher. Blackstone...more >

Bloomberg

Billionaire Warren Buffett's Berkshire Hathaway Inc. added to stakes in Wells Fargo & Co. and Kraft Foods Inc. in the first quarter, taking advantage of prices driven down by the credit...more >