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Today’s headlines
Neiman Marcus to suffer loss
CHESTNUT HILL, Mass. -- The Neiman Marcus Group department store chain said Monday it expects to post a loss for the current quarter due to the soft retail environment. Wall Street had expected a profit.

Business today
GAS PRICES SLIDE: Gasoline prices tumbled 3 1/2 cents a gallon in the past three weeks, easing concerns of a summer shortage, an analyst said. The average retail price of gasoline was about $1.73 a gallon Friday, down 3.48 cents since May 18, according to the Lundberg Survey of nearly 8,000 gas stations nationwide. It was the first price drop since March. "There was never any gasoline "crisis,' and I still maintain that for this summer there will be none," analyst Trilby Lundberg said. Only San Francisco had an average gasoline price above $2 per gallon, at $2.02.

Wachovia buyback, merger fight coincide
The bank, caught in a war between First Union and SunTrust, says the stock purchases are a coincidence.