Cablevision Systems Corp. is close to buying the Long Island newspaper Newsday from Tribune Co. for $650 million, a person with knowledge of the situation said Sunday.
Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.
The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be one of the economy´s few bright spots this year.
