National Business Digest

NATION

Home prices 18% lower than in October 2007

NEW YORK — Home prices dropped by the sharpest annual rate on record in October and there are no signs the housing pain is over, according to a closely watched index released Tuesday.

The Standard & Poor’s/Case-Shiller 20-city housing index fell by a record 18 percent from October last year, the largest drop since its inception in 2000. The 10-city index tumbled 19.1 percent, its biggest decline in its 21-year history.

Both indices have recorded year-over-year declines for 22 straight months. Prices are at levels not seen since March 2004.

Starbucks to serve more healthful choices

SEATTLE — Starbucks Corp. said Tuesday it will begin selling three new tea-based lattes and two nondairy tea drinks Saturday as part of a push to offer customers more healthful choices.

The gourmet coffee retailer said all but one of the new drinks are less than 200 calories for a 12-ounce, or tall, serving.

The new lattes are made with steamed milk and Tazo full-leaf tea bags. The new varieties include the Black Tea Latte, the Vanilla Rooibos Latte and the London Fog latte. The company already sells a chai tea and green tea latte.

Chrysler cancels meeting that rewards best dealers

NEW YORK — Chrysler LLC canceled its annual reward meeting for top-performing dealers for the first time in decades as it seeks to cut costs in the tough auto market.

The meeting was to include an all-expenses paid trip to the Hilton Los Cabos Beach & Golf Resort in San Jose del Cabo, Mexico, from March 15 through March 19, Chrysler said. The automaker offers such a trip to its top dealers every year.

Associated Press