Fewer young people buying first homes

The first-time home buyer is getting older and scarcer.

In 1976, nearly 45 percent of U.S. home buyers were moving intotheir first dwellings.

That figure dropped to 40 percent in 1982, and 35 percent lastyear, reports John Pfister, vice president and director of marketresearch for the Chicago Title Insurance Co.

Last year, the average age of first-time buyers was 30, comparedwith 28.4 in 1985, a Chicago Title study showed. The buyers spentless for housing in 1986, but that was because of a shift in homebuying habits from single-family homes to condominiums, Pfister said.

One of six of the first-timers moved into condominiums lastyear, compared …

Qatar Agency Takes Stake in LSE

LONDON - The Qatar Investment Authority said Thursday it had acquired a 20 percent stake in the London Stock Exchange, the same day that Borse Dubai announced a deal to acquire the Nasdaq Stock Market's 28 percent stake in the LSE.

Terms of the Qatar deal were not disclosed.

Saying it intended to by a long-term shareholder, the Qatar Investment Authority said it "sees itself as a shareholder that will provide stability and support for the board's strategy of developing further its business and thereby reinforce the City of London's position as the world's top global capital market."

It ruled out a takeover bid for the time being, but said it reserved the right to …

Brazil approves controversial land tenure law

President Luiz Inacio Lula da Silva has approved a law that could legalize landholdings by some 1 million squatters occupying a Texas-sized chunk of the Amazon rain forest, despite environmentalist fears it will accelerate deforestation.

The law, approved late Thursday night, affects 260,233 square miles (67.4 million hectares) of federally owned land that for decades has been illegally occupied _ mostly by small farmers, but also by large property holders and loggers.

The government says the law will help it curb deforestation and land conflicts, but environmentalists say it will lure more people into the region and lead to more devastation.

The …

`Passive' Smoke Hurts Heart

Even a small amount of secondhand smoke can cause heart diseasein nonsmokers, researchers say in the most comprehensive report ofits kind.

The report in today's Journal of the American MedicalAssociation describes for the first time how the components oftobacco smoke can lead to heart disease. Moreover, the researchersfrom the University of California, San Francisco, argue that even asmall quantity of secondhand smoke causes cardiovascular problems innonsmokers.

The cardiovascular analysis is significant because mostgovernment regulations on secondhand smoke have been based onevidence that it can cause cancer; the Environmental ProtectionAgency has deemed it a …

'Die Hard' star Willis selling Idaho home for $15M

HAILEY, Idaho (AP) — "Die Hard" movie star Bruce Willis is asking $15 million for his Idaho home complete with a guesthouse, gym and pool with water slides.

The Idaho Mountain Express (http://bit.ly/upNUKX ) reports Willis' property in Hailey's Flying Heart subdivision is up for sale because he hasn't been able to spend much time in the area.

This is just part of Willis' plans to …

Appeal rules in favor of US syndicate

The Appellate Division of the New York Supreme Court refused to stay a lower court's ruling that San Francisco's Golden Gate Yacht Club is the Challenger of Record in the America's Cup, according to the U.S. syndicate.

America's Cup champion Alinghi of Switzerland originally sought a temporary stay of Judge Herman Cahn's March ruling, but that request was denied on April 15 and referred to the four-judge panel that ruled Thursday.

The judges also denied GGYC's motion to dismiss Alinghi's appeal.

"The court denied both motions and we look forward to a speedy resolution of these matters," said Barry Ostrager, the U.S. attorney for Societe …

Pupils back early after boy dies

Pupils on a school skiing trip in which a 12-year-old boy diedare travelling home early from Austria today.

Hayden Waller broke his neck after he lost his footing andplunged 30 feet on to rocks while trying to rescue a …