U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor’s began its nationwide index in 1987. The decline in home prices around the nation shows no evidence of a market recovery anytime soon. MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market “shows no signs of slowing down.”
Whole Foods Market Inc. (WFMI) said it lined up financing to complete its $565 million purchase of rival grocer Wild Oats Markets Inc. (OATS), ending a six-month battle against federal regulators who tried to block the deal on antitrust grounds. The company said it took out a five-year, $700 million loan to fund the deal, which also includes the assumption of $137 million in Wild Oats debt.