Post date: Feb 28, 2011 7:41:54 PM
Summary of business headlines: JP Morgan mulling Twitter investment -report; Economists worried about deficit; Pending home sales drop; Consumer spending falters.
USA-BUSINESS UPDATE - A JP Morgan Chase technology fund is looking to buy a hefty stake in Twitter, according to a report in the Financial Times. Citing people familiar with the plans - the fund will pay $450 million for a 10 percent stake in the Internet messaging website.
America's massive budget deficit is now worry number one for economists, according to a new survey by the National Association for Business Economics.
Signed contracts for previously owned homes fell faster than expected in January, hitting its slowest pace in three months, another sign the troubled housing market may not have found its footing yet.
Finally, consumer spending rose less than expected in January, despite a jump in income.
Conway Gittens, Reuters