IN BRIEF

CORRECTION: This article mistakenly states the date of a protest over a power rate increase. The correct date of the protest is Thursday, May 28.

Group plans to protest increase in power rates

Organizers of a rally to protest higher local power rates say they expect at least 75 people to attend their demonstration on Thursday.

The event is scheduled for 7 p.m. outside the headquarters of electric utility NV Energy, at 6226 W. Sahara Ave.

Organizers are asking participants to bring signs registering their disapproval of NV Energy's requested increase in power-use costs, which would average 13.6 percent overall and 16.7 percent for single-family homes.

The Nevada Public Utilities Commission wrapped up evidentiary hearings in the case and is considering the rate request now, with a decision expected June 24.

CHICAGO

Home Depot profits rise 44 percent in quarter

The Home Depot Inc. posted a 44 percent increase in its first-quarter profit on Tuesday, but didn't live up to the market's high expectations a day after rival Lowe's Cos. Inc. boosted its full-year outlook.

Home Depot's sales at stores open at least a year, known as same-store sales, fell 10.2 percent, with U.S. same-store sales down 8.6 percent.

Home Depot, which operates 11 stores in the Las Vegas Valley, earned $514 million, or 30 cents per share, for the three months ended May 3, up from $356 million, or 21 cents per share, a year ago. Adjusted profit, which excludes results from the now-closed Expo business, was 35 cents per share.

Analysts polled by Thomson Reuters, who generally exclude one-time items, expected a profit of 29 cents per share.

Sales fell 10 percent to $16.18 billion.

CHARLOTTE, N.C.

Insurer AIG taps director candidates

Embattled insurer American International Group Inc. said Tuesday it will reconfigure its board to include six new independent directors.

Six new nominees will be up for election at the New York-based company's annual meeting on June 30. AIG's Web site lists nine current board directors, including Ed Liddy, the company's chairman and chief executive.

It wasn't immediately known if any current directors are up for re-election. The company's full slate for board nominees will be disclosed in the company's forthcoming proxy statement, AIG spokeswoman Christina Pretto said.

NEW YORK

Race to repay TARP may cut taxpayers' return

The race to repay federal bailout money could end up reducing the amount that taxpayers eventually get back.

Some banks that want out of the Troubled Asset Relief Program may be allowed to buy back the government's investments at below-market prices. That could cut into taxpayers' potential profits by billions of dollars.

Goldman Sachs, Morgan Stanley and JPMorgan Chase & Co. have notified federal regulators of their interest in returning their share of the $700 billion bailout. Returning the money would let banks avoid restrictions on executive pay and hiring.

But before big banks can repay a penny and quit the bailout, they must agree to a price for the warrants the government received in return for the original loan. Those warrants gave the government the option to buy stock at a set price over 10 years.

SAN FRANCISCO

Yahoo will show fewer links in search results

Yahoo plans to show fewer links to other Web sites as it strives to provide more immediate gratification in its Internet search results and lure traffic from the market leader, Google.

The upcoming changes previewed Tuesday are part of Yahoo's two-year effort to better understand its users' intentions so the first page of its search results contains all the vital information sought in a query.

Depending how current tests go, some search results later this year may feature nothing but images of landmarks or video, if Yahoo's technology believes that is what's most likely to satisfy an individual user.

NEW YORK

News on homebuilding sends Treasurys down

Treasurys fell Tuesday after new home construction fell to the lowest pace on record.

The benchmark 10-year Treasury note fell 0.19 points to 98.94. Its yield rose to 3.24 percent from 3.21 percent late Monday.

The 30-year bond fell 0.5 points to 100.59. Its yield was 4.20 percent, up from 4.17 percent on Monday.