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Retail sales unexpectedly rose in April, pointing to underlying strength in the economy and leading forecasters to bump up second-quarter growth estimates. The surprise gain in retail sales, which account for about 30 percent of consumer spending, was the latest sign of resilience in an economy that has been hit by belt-tightening in Washington as the government tries to cut its budget deficit. "It's more indication that our economy is growing. It's not growing as rapidly as a lot of people would like, but things are improving," said Tom Hall, an economics professor at Miami University's Farmer School of Business in Oxford, Ohio. Retail sales edged up 0.1 percent after a 0.5 percent drop in March as households bought automobiles, building materials and a range of other goods, the Commerce Department said on Monday. Economists had expected a decrease of 0.3 percent.   So-called core sales, which strip out automobiles, gasoline and building materials and corr

Stocks closed little changed on Monday, pausing after hitting record highs last week, but strength in healthcare issues helped to keep declines in check. The S&P 500 healthcare sector .SPXHC climbed 0.7 percent and was the day's best performer.   Shares of Theravance ( id="symbol_THRX.O_1"> THRX.O ) jumped 17.9 percent to $41.20 after Irish drugmaker Elan ( id="symbol_ELN.I_2"> ELN.I ) ( id="symbol_ELN.N ELN.N ) agreed to a $1 billion deal to buy 21 percent of the royalties that Theravance receives from GlaxoSmithKline ( id="symbol_GSK.L GSK.L ) ( id="symbol_GSK.N GSK.N ) for its respiratory drugs. _3"> The day's flat close followed a third straight week of gains on the major indexes, with both the Dow and S&P 500 setting record closing highs last week. The S&P 500 remains up 14.5 percent for the year so far. _4"> While some analysts argue the long-term trend is still higher, many see momentum waning i

The researcher whose report prompted a spike in health stocks last month appears to have relied on lobbyists rather than U.S. government insiders who had direct knowledge of a pending healthcare decision, according to emails reviewed by Reuters. The messages could help bolster Height Securities LLC's claim that its analyst was essentially doing what reporters, lobbyists and others in Washington do every day: trying to figure out what the government is going to do next.   The small research shop is among the brokerages, law firms and other "political intelligence" operations that have drawn scrutiny over concerns that they may have facilitated insider trading by passing along tips that moved markets. Height Securities has drawn inquiries from the Securities and Exchange Commission and Iowa Republican Senator Charles Grassley since it correctly predicted on April 1 that President Barack Obama's administration would keep certain medical payment rates in place, prom

Walmart ( id="symbol_WMT.N_0"> WMT.N ) called on the Bangladesh government on Monday to stop production at one apparel factory and investigate the condition at another until workers' safety could be assured. _0"> The unusual action followed the death of more than 1,100 people in the collapse of a factory in Bangladesh.   "The government of Bangladesh did the responsible thing last week by closing factories believed to be dangerous," Rajan Kamalanathan, Walmart vice president of ethical sourcing, said in a statement. Walmart said that it had stopped production at Stitch Tone Apparels factory because it had discovered that a neighboring factory had structural problems. It also said inspectors who had been contracted by Walmart had reported a potentially dangerous condition at another one of the factories Walmart uses, Liz Apparels factory. The inspectors notified the government, the factory owner and other companies that contract with the facilit

Actor Leonardo DiCaprio and Christie's auction house raised nearly $32 million for environmental causes on Monday at a charity art auction. DiCaprio, the star of the new film "The Great Gatsby," organized the so-called The 11th Hour Auction along with his foundation and Christie's to protect the last wild places on Earth and their endangered species.   The 33 works of art, many of which were created for and donated to the auction by the artists, sold for $31.74 million in spirited bidding in a packed auction house. Art collectors from around the globe also placed bids by telephone. "All I can say is thank you, thank you, thank you," DiCaprio told the audience at the end of the auction, which raised more than double the pre-sale estimate. In addition to the sale, which set records for 13 artists including Carol Bove, Joe Bradley, Mark Grotjahn, Raymond Pettibon and Mark Ryden among others, a $5 million matching donation for three of the lots and $1.15

Out go the themed rooms and groupings of artists at London's Tate Britain gallery, and in comes a pure, sunlit, chronological walk through British art from 1540 to the present. The world's leading collection of British paintings and sculpture on Monday threw open a permanent gallery so radically refurbished and reorganized that every one of the 500-odd works on display had to be rehung. "What I wanted to try and do was to have a complete chronology that wouldn't be interrupted by exhibitions," said Director Penelope Curtis.   She denied that the Tate was "dumbing down" for the average tourist, saying the layout offered better access to everyone from school children to art experts, put works in context with their contemporaries, and would be uncompromised by temporary shows. The "BP Walk through British Art" winds around the perimeter of the building, beginning in 1540 with portraits by the likes of Hans Holbein and Anthony van Dyck, then

A U.S. appeals court on Tuesday revived a lawsuit against United Continental Holdings Inc's United Airlines that was brought by a woman who claimed she was not promptly provided a wheelchair in an airport when she asked for one. The opinion, from the 9th U.S. Circuit Court of Appeals in San Francisco, said federal law did not pre-empt the woman's personal injury claims under state law. A representative for United could not immediately be reached for comment. Mark Meuser, an attorney for plaintiff Michelle Gilstrap, who has difficulty walking, said some lower court judges had disagreed about whether individuals should be able to bring claims for injuries in an airplane or terminal. "This is a really big deal for disabled Americans across the country," Meuser said. Gilstrap had difficulty walking due to a collapsed disc in her back and osteoarthritis, according to the court opinion. During two separate plane trips in 2008 and 2009, she alleged that United failed