Business notes


Endurance discipline manager named for 2010 FEI Games

Emmett B. Ross has been named endurance discipline manager for the Alltech FEI World Equestrian Games, the World Games 2010 Foundation announced Wednesday. Ross has more than 20 years of endurance experience as a ­trainer, chef d'équipe, manager, rider, organizer and ­consultant. Endurance is one of eight disciplines in which world champions will be selected at the 2010 games. Ross and other discipline managers will be responsible for ­planning, managing and directing their area of competition.


New home sales fall sixth time in 7 months

Sales of new homes tumbled for the sixth time in seven months in May while median prices kept plunging, underscoring the depth of the nation's housing woes. The Commerce Department reported Wednesday that new homes were sold at a seasonally adjusted annual rate of 512,000 units in May, down 2.5 percent from the April level. The median price of a new home sold last month fell to $231,000, down 5.7 percent from a year ago.

MasterCard to pay AmEx $1.8 billion

American Express Co. has ended another round of litigation with a rival card company but still faces serious headwinds from its customers. After announcing Wednesday that it will be getting $1.8 billion from MasterCard Inc. in settlement of an antitrust suit, the credit card lender revealed that it has again underestimated how quickly its cardholders are falling behind on their debt. ”Business conditions continue to weaken in the U.S., and so far this month we have seen credit indicators deteriorate beyond our expectations,“ AmEx Chief Executive Kenneth Chenault said in a statement. The rocky consumer climate comes amid a tough legal period for credit card companies, which are battling among themselves and with federal authorities around the world over various rules and fees.


S. Korea to resume U.S. beef imports

South Korea's government said Wednesday it will resume imports of American beef this week, hoping to move on from a crisis that battered the pro-U.S. administration with weeks of anti-government protests over food safety. South Korea and the United States agreed last week to restrict U.S. beef exports to younger cattle, thought to be at less risk of mad cow disease.

Compiled from Staff, wire reports