Business News Headline - 18 August, 2008

Reuters - Lehman Brothers Holdings Inc has been marketing its asset management unit to a number of buyers including private equity firms, a source familiar with the situation told Reuters on Monday.

Reuters - Retailer Lowe's Cos reported a higher-than-expected quarterly profit on Monday as U.S. consumers spent tax rebate checks on spring projects, but it forecast third-quarter results below Wall Street estimates.

Reuters - Home builder sentiment was stuck at a record low in August, as stringent lending and a flood of foreclosed homes dragged on the real estate market, according to data from the National Association of Home Builders released on Monday.

Procter & Gamble and Island Def Jam have joined forces to create a new hip-hop label called Tag Records (named after the P&G body spray). More companies are getting into "branded entertainment" and marketing both the product and the artist.

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As nearby factories are downsizing, Harman Stoves in Halifax, Pa., is adding more than 100 jobs to try and keep up with skyrocketing demand for its pellet stoves. The spike comes as homeowners want to make the switch from oil to heating with wood pellets.

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