Consumer spending rises

Consumer spending rises
WASHINGTON -- Consumers spent more in February while construction spending rose by the largest amount in 11 months, the government said Friday, in reports that should dispel some of the concerns about the health of the economy.
The Commerce Department reported that consumer spending, bolstered by strong income gains, was up 0.6 percent last month, the best showing since December. Personal income also rose by 0.6 percent. Both figures were double what analysts had expected.
In a separate report, the department said that construction spending rose by 0.3 percent last month, the best showing since a 1 percent jump in March 2006.
Sabre purchase completed
DALLAS -- Private buyers completed their 4.5 billion purchase of Sabre Holdings Corp. on Friday, signaling the end of public trading of shares in the parent of online travel-booking service Travelocity.com.
Sabre shareholders approved the offer from affiliates of Silver Lake Partners and Texas Pacific Group on Thursday. The firms will pay 32.75 per share in cash and assume about 550 million in Sabre debt.
Staff/wire reports