The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market’s steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services to mid size businesses, and has lined up partners to resell its services and is helping software companies adapt their products to IBM’s machines. The move puts it in more direct competition with Amazon (AMZN) and Salesforce (CRM). Reuters says that the billionaires who own half of TNK-BP are interested in buying out BP’s (BP) entire 50% stake, and will make a binding all-cash offer by mid-October, sources say. Also from Reuters, South Korea’s SK Telecom (SKM) will sell part of its stake in steelmaker POSCO (PKX) for $390.66M, leaving it with a 1.42% stake after the sale. Also according to Bloomberg, Oil fell to the lowest level in seven weeks after a report showed increasing U.S. stockpiles and Philadelphia Fed President Charles Plosser said a new stimulus plan probably won’t raise economic growth. Finally, Bloomberg reports that Costco Wholesale (COST) workers who sued the retailer for gender bias will be able to proceed with their claims as a group. In San Francisco, U.S. District Judge Edward Chen certified a class, or group, of plaintiffs, seeking monetary relief that includes several hundred women employed since 2002 who have been subject to the company’s system for promotion to management positions.
