Sbarro leaves bankruptcy protection

Pizza chain Sbarro says it has exited bankruptcy protection and is moving its headquarters from New York to Ohio. According to court filings, a judge approved the company's reorganization plan on May 19, and that plan took effect Monday. Sbarro says it will move its company headquarters to Columbus, Ohio, to reduce expenses and be closer to its new Pizza Cucinova business, which lets people build their own pizzas. The company says about 40 jobs at its old headquarters in Melville, N.Y., will be eliminated, but its other 2,700 employees nationwide won't be affected. The company filed for Chapter 11 bankruptcy reorganization in March, one month after it closed 182 U.S. locations. It says it doesn't plan any more major closings.

Hillshire agrees to talk with Tyson, JBS

Hillshire Brands has authorized takeover talks with Tyson Foods and Brazil's JBS as the $6.7 billion bidding war for the maker of Jimmy Dean sausages and Ball Park hot dogs escalated. Hillshire was known as Sara Lee Corp. before spinning off its tea and coffee segment and renaming itself Hillshire Brands in June 2012. It's since focused on improving lunch-meat quality, creating new hot-dog flavors and winning over more customers with lower-calorie breakfast sandwiches. Pilgrim's Pride, the chicken producer 75 percent owned by JBS, raised its offer to $55 a share from $45, Hillshire said. That topped a $50 a share bid last week from Tyson, the second-largest U.S. pork producer.

Factory orders up for a third month in April

New orders for goods from U.S. factories increased in April for the third consecutive month, signaling a rebound in the manufacturing sector after a weather-related winter slowdown. Factory orders rose 0.7 percent last month compared with March, the Commerce Department said, exceeding economists' projections for a 0.5 percent increase. The value of those orders hit a new record of $499 billion. Orders are a sign of future activity and are watched closely in the manufacturing sector because of their importance to the economy.

Home prices posted smaller gains in April

U.S. home prices rose in April compared with a year earlier, but the increase was the smallest annual gain in 14 months. Price gains have slowed this year as sales have faltered. Data provider CoreLogic said that prices rose 10.5 percent in April from 12 months earlier. That is a healthy gain, but it is down from March's 11.1 percent increase and February's 12.2 percent rise. On a month-to-month basis, April prices rose 2.1 percent. But CoreLogic's monthly figures aren't adjusted for seasonal patterns, such as warmer spring weather. Higher mortgage rates, tight credit and a limited supply of available homes have slowed the housing recovery.

Prices in Europe move closer to deflation

Consumer prices in the eurozone ticked ever closer to outright deflation, official data showed, making it almost certain that the European Central Bank will move to ease monetary policy this week. Inflation in the 18 nations that share the euro rose at an annual rate of just 0.5 percent in May from a year earlier, down from a 0.7 percent rate in April, Eurostat, the statistical agency of the European Union, reported from Luxembourg. The weak price pressures were pronounced even in Germany, now the strongest economy in the eurozone. Consumer prices there rose at just a 0.9 percent rate in May.

UAW membership dues to rise 25 percent

Delegates to the United Auto Workers convention have voted to raise dues by 25 percent to shore up the union's finances, the first increase in 47 years. Representatives from local unions across the nation approved the increase with a show of hands, raising dues from two hours of pay per month to 2½ hours. About two-thirds of the roughly 1,100 delegates attending the convention in Detroit voted for the increase. The move will raise about $15 million per year for the union.

FROM NEWS SERVICES