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News Corp. chairman Rupert Murdoch defended his globe-spanning, half-a-century long media career Wednesday, telling an inquiry into U.K. media ethics that he never called in favors from the powerful people his papers covered.
Speaking softly, deliberately and with dry humor, Murdoch parried one question after the other about the influence his dominant media operations had in […]

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Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven’t been enough to boost prices.
The Standard & Poor’s/Case-Shiller home-price index shows that prices dropped in February from January in 16 of the 20 cities it tracks.
The steepest declines were in Atlanta, Chicago and […]

On Saturday, at the University of Missouri-St. Louis, Marc Bowers is throwing an ideas conference for the rest of us.
It’s the first-ever ProductCamp St. Louis, a daylong “unconference” designed to help share ideas and insights among, as Bowers puts it, “people who are in mundane, old-school industries,” like manufacturing, consumer goods and telecommunications.
Unlike many entrepreneurship […]

Iconic investor Warren Buffett announced Tuesday that he has been diagnosed with stage I prostate cancer in a letter to shareholders of his firm Berkshire Hathaway.
Buffett, 81, said his "condition is not remotely life-threatening or even debilitating in any meaningful way," and that additional tests didn’t reveal incidence of cancer anywhere else in […]

The city of O’Fallon, Mo., hired Michael Hurlbert as its new economic development director.
Hurlbert is joining O’Fallon from the planning, architecture and design firm of Peckham, Guyton, Albers & Viets Inc., where he was senior project manager since September 2008.
Previously, he was the city planner and economic development administrator for Creve Coeur from 2004 to […]

The Federal Reserve is considering possible sales of assets from its Maiden Lane III portfolio, which was created during the bailout of insurer American International Group (AIG) (AIG.N: Quote, Profile, Research, Stock Buzz), a New York Federal Reserve spokesman said on Wednesday.
Maiden Lane III grew out of the purchase of $29.3 billion in collateralized […]

You find the home of your dreams. You’re pre-approved for a mortgage. You’ve scheduled the closing. Then … the appraisal comes in too low and the deal blows up.
Even as some mortgage standards have eased, hitting a needed appraisal value is proving a frustrating blocker for buyers and sellers and those looking to […]

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O’Fallon, Mo. • This time last year, O’Fallon Brewery was fading out of sight.
After growing for most of a decade, St. Louis’ second-largest craft brewer hit a wall. Its co-founders ran out of cash. Beer-making ground to a halt. Six-packs on store shelves dwindled.
But now O’Fallon is on pace to sell more in 2012 than […]