Finance Latest News: Kabel Deutschland Shares Rise on Takeover Interest

Shares in Germany's biggest cable operator are up after Kabel Deutschland received a preliminary takeover proposal from U.S. firm Liberty Global. Stocks are opening higher on Wall Street after the pace of home construction picked up in May, the latest encouraging sign from the housing market. President Barack Obama hinted in an interview that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying Ben Bernanke has stayed a lot longer than the current chairman had originally planned.
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