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Business

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Briefs

US home prices rise 0.2 percent

A measure of U.S. home prices rose only modestly in October, adding to signs that prices have stabilized after experiencing big gains earlier this year

Real estate data provider CoreLogic said Tuesday that prices increased 0.2 percent in October from September.

That’s up from a 0.1 percent gain in September. But it is down sharply from a 0.9 percent increase in August.

One reason for the slowdown is that the figures aren’t adjusted for seasonal patterns. Prices usually decline in the fall and winter, when sales slow.

Agency to oversee private student loans

The federal consumer finance watchdog is expanding its oversight to Sallie Mae and other companies that collect student loan payments.

A rule issued Tuesday by the Consumer Financial Protection Bureau extends the agency’s supervision to nonbank companies that manage large volumes of student loans on behalf of lenders.

The CFPB already oversees banks that service student loans, but it says most student loans are serviced by nonbank companies.

It says the scrutiny is needed to ensure that servicers comply with consumer laws at a time when more people are falling behind on their student loan payments.

Ex-Tyco executive to be freed on parole

A New York state parole board agreed Tuesday to release former Tyco chief executive Dennis Kozlowski on parole after more than eight years in prison for his conviction in a $134 million corporate fraud case.

His tentative release date is Jan. 17, though Kozlowski, 67, has been in the state’s work-release program with a clerical job and, for months, only reporting back twice weekly to minimum-security Lincoln Correctional Facility in Harlem.

He follows the security systems company’s former chief financial officer, Mark Swartz, who was released by a parole board in October.

J.C. Penney sees sales, stock rise for season

J.C. Penney Co. says a key sales measure jumped 10.1 percent in November, helped by a strong start to the holiday shopping season.

The Plano, Texas-based company’s stock rose 5 percent in after-hours trading Tuesday.

J.C. Penney said revenue from stores open for at least a year improved because of its merchandise selection and promotions despite a competitive retail environment.

The figure is a closely watched indicator of financial performance because it strips away the impact of recently opened or closed stores.

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