Business Latest News: Home Prices Rise by Most in Seven Years in May: CoreLogic

Home prices racked up their biggest annual gain in more than seven years in May, with more increases expected through the summer months as the sector continues to mend. Prices rose 2.6 percent from April and were up 12.2 percent compared to May last year, the biggest year-over-year increase since February 2006. Japan's Mitsubishi UFJ Financial Group has agreed to buy a controlling stake in Thailand's Bank of Ayudhya Pcl for up to $5.61 billion, as Japanese lenders expand into fast-growing Southeast Asian economies to beat slower growth at home. Chrysler's U.S.sales-in-June rose 8 percent on strong demand for its two best-selling vehicles, the Ram full-size pickup truck and Jeep Cherokee SUV
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