Dell Inc. (DELL) agreed Monday to buy information-technology service provider Perot Systems Corp. (PER), long seen as a Dell target, for $3.9 billion as the world’s No. 2 computer seller looks to diversify away from its core personal-computer business.
Lennar Corp., the third-largest U.S. homebuilder, reported a bigger-than-expected third-quarter loss as revenue dropped and interest costs increased. The company said it will probably become profitable next year.
U.S. tax authorities will extend a limited amnesty program for U.S. taxpayers who have undeclared income on foreign accounts to October 15 from September 23.
The U.S. dollar gained ground Monday as investors shied away from risk-oriented trades ahead of this week’s meeting of U.S. Federal Reserve policy makers and a summit of the leaders of the Group of 20 global economic powers.
Oil prices slipped below $71 a barrel Monday as high crude stockpiles and weak demand tempered enthusiasm about recent signs of improvement in the world’s largest economy.
Federal Reserve Chairman Ben Bernanke has said that the recession is “very likely over,” but the Fed isn’t acting like we’re in a recovery.