Bloomberg Hong Kong’s economy unexpectedly contracted in the first quarter as falling retail sales and a weakening property market weigh on the city. Gross domestic product fell 0.4 percent in the three months through March from the previous quarter, the government said in a statement Friday, compared with the median estimate for 0.1 percent growth in a Bloomberg News …

  Babylon, New York / AP Matt Price and his wife, Carla, are gambling that the devastation inflicted by Superstorm Sandy will be their key to the American dream of home ownership. The couple was among the successful bidders at an auction on Wednesday that sold off the last of more than 400 flood-damaged houses that were purchased by New York …

  Bloomberg Count Goldman Sachs Group Inc. among the growing list of banks abandoning their calls for the euro to reach parity with the dollar by the end of the year. The New York-based bank joined Deutsche Bank AG this week in scrapping forecasts for the common currency to slump to $1 or below in 2016, citing changed outlooks for …