Business Briefs

Home sales, FedEx give lift to stocks

NEW YORK -- The Dow Jones industrial average gained more than 100 points for the third straight day Monday after investors got some unexpected good news about the economy.

A report on the real estate market came in better than expected, with the Commerce Department saying new home sales rebounded from a record low in May to an annual rate of 330,000 units, more than economists expected.

And shipping giant FedEx released a forecast that was more upbeat than a prediction it made six weeks ago.

The news pulled stocks up from an early slow start. Investors who a week ago were selling on a pessimistic view of earnings and the economy are now buying on the belief that the economic recovery, while slow, is proceeding.

Nissan recalling some Cube cars

WASHINGTON -- Nissan is recalling 51,100 of its Cube hatchbacks in the United States and Canada because of possible problems with fuel spilling during rear-end collisions.

In documents filed with the National Highway Traffic Safety Administration, Nissan Motor Co. said Monday that tests conducted by NHTSA safety regulators found more fuel spilled than federal standards allow. The spillage occurred during rear-end crash tests at 50 miles per hour where the vehicle also spun onto its side.

Nissan said its own earlier tests did not show any fuel leakage, but it will issue a voluntary recall. It notified dealers last week and will contact owners Aug. 30. Dealers will attach a special protector to prevent leaks. There have been no injuries or incidents reported by drivers, according to Nissan.

Kraft plans to use more whole grain

PORTLAND, Ore. -- Kraft Foods Inc. said Monday it will more than double the amount of whole grain in many of its Nabisco crackers, becoming the latest food maker to respond to consumer and health advocates' demands for improved nutrition from packaged foods.

Kraft will increase the whole grain in more than 100 products over the next three years, the company said.

As a result, its Ritz and Premium crackers will contain whole grains for the first time. Whole grain will more than double and quadruple in the company's Wheat Thins crackers and its Honey Maid graham crackers.

Whole grains are considered a part of a healthy diet, adding necessary fiber and nutrients. They help reduce the risk of heart disease, improve digestion, provide essential nutrients and may help control weight, according to the U.S. Department of Agriculture.

IBM subject of EU sales investigation

BRUSSELS -- The European Union opened two antitrust investigations against IBM Corp. on Monday, accusing the American technology giant of abusing its dominant position in the mainframe computer market.

One investigation stems from complaints by emulator software vendors T3 and Turbo Hercules, which accuse IBM of tying the sale of mainframe hardware to its mainframe operating system, the European Commission said.

The opening of EU antitrust investigations does not mean the European Commission has proof of any wrongdoing, only that it sees cause for a deeper look.