Hawaii Fishermen's Alliance for Conservation and Tradition Inc., a coalition of fishing clubs and groups from across the islands, filed a petition to the National Oceanic and Atmospheric Administration last month.

There are more than 21,000 humpback whales in the North Pacific today, compared with about 1,400 in the mid-1960s.

More than half spend the winter breeding and calving in Hawaii's warm waters. The animals, known for acrobatic leaps and complex singing patterns, have become a major draw for tourists and support a thriving whale-watching industry in Hawaii. Other North Pacific humpbacks winter off Mexico, Central America, Japan and the Philippines.

In the summer, they migrate to feed on krill and fish in waters off Alaska, Canada and Russia.

The fishermen say they don't want whaling to resume and aren't asking to be allowed to hunt the whales. They're also not trying to make it easier for them to catch fish, as they say the law's protections for the whales don't interfere with fishing.

Instead, the fishermen are acting after watching environmental conservation groups petition to add many more species to the endangered list in recent years, like dozens of corals, seven different damselfish and a rare dolphin called a false killer whale, said Philip Fernandez, the coalition's president. The government should consider humpback whales for removal to maintain a balance, Fernandez said.

"You cannot add species after species after species without evaluating whether there are species that should come off," the West Hawaii fisherman told The Associated Press by telephone from Kailua-Kona on Hawaii's Big Island.

Fishermen are concerned the Endangered Species Act is being used as a tool to manage the oceans and this will ultimately affect how fishermen are allowed to fish, Fernandez said.

"The key thing is the ESA has turned into somewhat of a battleground," he said.

The commercial whaling ban and other regulations would continue to protect the whales even if they were to lose their endangered status, the petition said. Though some whales die each year after being hit by ships and getting accidentally caught in fishing gear, the petition argues these accidents haven't interfered with the overall population's growth.

The fishermen are asking NOAA to first declare the North Pacific whales a distinct population. If the agency does so, the coalition wants NOAA to then remove this population from the endangered list. Humpbacks are found around the world globally they number about 60,000 but the petition is seeking delisting for whales only in the North Pacific.

Angela Somma, NOAA Fisheries endangered species division chief, said the petition is the first seeking to delist humpback whales since the animals were classified as endangered in 1970.

The law gives the agency until mid-July to determine whether the petition merits consideration. If NOAA finds the petition has merit, the agency must come to a conclusion by mid-April.

NOAA last removed a species from the endangered list in 2008, when it determined the Caribbean monk seal had gone extinct. The last time a species' recovery prompted delisting was in 1994, when the agency removed the eastern North Pacific population of gray whales from the list.

NOAA also is considering delisting both the Hawaii population of green sea turtles and a population of Stellar sea lions that lives off the coast of California, Oregon, Washington and Alaska.

Miyoko Sakashita, a San Francisco-based attorney for the Center for Biological Diversity, said ship strikes and fishing gear entanglements still threaten humpbacks. Climate change and growing levels of carbon dioxide the ocean which is causing the oceans to become more acidic could harm the plankton that humpback whales depend on for food, she said.

"It could be an important success story for humpback whales, but NOAA should really proceed with caution because of the overarching threats to make sure the gains aren't unraveled," Sakashita said.

NOAA Fisheries independently launched a review of humpback whales in 2009 in response to data showing steady population growth. Somma said the agency is still working on this review.

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Humpback whale delisting petition: http://www.nmfs.noaa.gov/pr/species/petitions/north_pacific_humpback_petition_2013.pdf

He didn't deserve any blame for fans leaving early, either, though hundreds found their way to the exit even before the 12th round began.

If they were spending $1,000 and up for tickets to a brawl, they should have known better. Mayweather built a career on not getting hit, and there was no reason to think he was going to make the same mistakes as last year against Miguel Cotto against a fighter whose only hope of winning was to rough him up.

Instead of booing, they should have been applauding. Instead of leaving, they should have been on their feet cheering.

On the canvas where he does his best work, Mayweather painted a boxing masterpiece only he could produce.

"Everyone was saying at the age of 36 I don't have it no more," Mayweather said. "All I want to do is give fans exciting fights."

This one wasn't as much exciting as it was brilliant. Mayweather used defensive skills built up over a lifetime to take apart a very good fighter Saturday night and do it in such lopsided fashion that ringside judges seemed to be searching for a round to give to Guerrero.

He hit Guerrero with right hand leads all night and might have knocked him out had he not hurt his hand in the eighth round. When Guerrero tried to land big shots of his own, Mayweather was either smothering him on the ropes or had danced out of harm's way.

It was a $32 million display of all that's right about the sweet science. And if it didn't satisfy all the fans at the MGM Grand or those who paid $69.95 for the pay-per-view, it kept Mayweather undefeated in 44 fights in what is becoming a remarkable boxing career.

"I showed the world I can still box," Mayweather said. "I showed my defense is still there. I'm still fast."

Most importantly, perhaps, it showed Mayweather himself that he still has it. After spending two months in jail and a year out of the ring, he returned with a performance that was vintage Mayweather.

His father was back in the corner and was put to good use. Both Floyd Sr. and Floyd Jr. thought the boxer got hit too much when he went toe-to-toe with Cotto last May and were determined to focus on defense against Guerrero, who tried his best for 12 rounds to turn the fight into a brawl, to no avail.

The plan was to hit and not get hit. It worked to perfection, with Guerrero landing only 19 percent of his punches to 41 percent for Mayweather.

"The less you get hit, the longer you last in boxing," Mayweather said.

Mayweather has followed that creed so well that he has lasted 17 years in the sport, and he looks no worse for the wear. He's managed to build a boxing empire on pay-per-view sales despite having a style that is less than crowd pleasing, and his $32 million payday for Guerrero shows he remains a huge attraction.

He wants to fight again in September, which would be the first time since 2007 he fought twice in a calendar year. That could be delayed by his injured right hand, though Mayweather insisted after the fight he would be ready to go.

The question now becomes who Mayweather will face. Upcoming Mexican star Canelo Alvarez would be the most attractive fight, but the short lead time to September virtually ensures that bout won't happen until at least next May, at best.

Mayweather is in the unique position where he can handpick his opponents, and he's been criticized for trying to find fighters he knows he can beat. Alvarez would be a risky fight, one Mayweather might want to save until late in the remaining five fights he has under a deal with Showtime that he says will be the last of his career.

"He's a young guy," Mayweather said of Alvarez. "Floyd Mayweather isn't going to duck anybody. My job is to go out there, rack up victories and be the best Floyd Mayweather I can be."

Whether that is good enough to make Mayweather among the all-time greats was a topic of questioning at the post-fight news conference. Mayweather may be a dominating fighter, but he hasn't had a rivalry to get fight fans excited and he came up with excuse after excuse not to fight Manny Pacquiao when Pacquiao was still in his prime.

He also hasn't fought regularly enough to press a claim for greatness, something that could change if he goes through on plans to fight every six months or so under the Showtime deal.

"I just do what I do," Mayweather said. "I've given this sport my whole life."

Halladay, the Cy Young Award winner as his league's best pitcher in 2003 and 2010, was scheduled to have surgery as early as next week when doctors also plan to clean up fraying in his labrum and rotator cuff.

The right-hander visited Dodgers physician Neal ElAttrache in Los Angeles on Monday and was diagnosed after having an X-ray and MRI.

"The doctor seemed pretty optimistic ... I could come back and be a lot more effective and have a chance to pitch this year and turn back the clock," Halladay told reporters before the visiting Phillies played the San Francisco Giants at AT&T Park.

"I thought it was very good news. Obviously I don't want to miss time, but I think as far as scenarios go, I feel like it's a lot better than some of the things I anticipated."

Halladay began to feel pain in his shoulder after his April 24 start against the Pittsburgh Pirates, then allowed 17 runs in just six innings in his last two outings before informing the Phillies he was no longer able to pitch.

"My biggest concern was I couldn't throw the ball where I wanted," said the 35-year-old. "I wasn't concerned about velocity; the pain wasn't overwhelming. I couldn't understand why my location was so poor..

"I didn't know if they had to tighten something up, I really didn't know.

"I kind of felt like it was good news, that I have a good chance to come back and pitch and help us try to get to the World Series. That's the ultimate goal. That's why I'm playing."

Halladay, who missed almost two months last year because of a strained back muscle, is 2-4 with an 8.65 ERA in seven starts this season for the Phillies, who at 16-18 were in third place behind National League East-leading Atlanta.

(Reporting by Mark Lamport-Stokes in Los Angeles; Editing by Larry Fine)

(Reuters) - SoftBank Corp has asked investment banks not to finance a rival bid for Sprint Nextel Corp by Dish Network Corp, saying this could hurt the banks' chances of gaining a role in the highly anticipated public offering of Alibaba Group Holding Ltd, according to two people with knowledge of the matter.

Japanese telecom company SoftBank, which is a big shareholder in Chinese e-commerce company Alibaba with a 33 percent stake, is locked in an escalating bidding war with Dish, after the U.S. satellite TV provider made a $25.5 billion proposal for Sprint in April.

SoftBank, which has an existing agreement with Sprint to buy 70 percent of the U.S. wireless carrier for $20.1 billion, has heavily criticized Dish's offer, saying the rival bid does not have committed financing in place.

Dish, which has said it would need to raise $9 billion in debt to finance the offer, is in the process of lining up financing, but is encountering challenges partly because banks have come under pressure from SoftBank to avoid any financing of Dish, the people said on Friday.

At least one major Wall Street bank has withdrawn from financing the Dish bid because of the bank's relationship with SoftBank and its likely role in the Alibaba IPO, they added.

Alibaba declined to comment, but a third source, who is close to the e-commerce company, said that while SoftBank is a major investor, it does not make decisions for Alibaba management. Alibaba has no timetable for an IPO yet and has not hired underwriters.

Sprint, SoftBank and Dish declined to comment.

RESTRICTIONS

So-called anti-tying rules prohibit a bank from offering one product to a company on the condition that it gain a role in another transaction. For example, a bank cannot say it will only give a loan to a company if the bank is chosen as an adviser on the company's next M&A transaction.

But banks' corporate clients are not subject to these restrictions. For instance, a company may select underwriters for an IPO on the condition that these banks not participate in a competitor's future public offering.

Alibaba's IPO, which could come as early as this year, is one of the most highly anticipated technology offerings after Facebook Inc's $16 billion offering last year and would generate lofty fees for Wall Street banks.

Barclays Plc, which is advising Dish, and Jefferies Group LLC, are lined up to provide financing, with Dish speaking to more banks to join the financing, one of the people said.

Jefferies and Barclays declined to comment.

If Dish finds it difficult to secure financing, that could put the proposed deal in jeopardy.

The lack of committed financing is a concern for the special committee of Sprint's board that is reviewing Dish's offer to determine whether it could lead to a superior proposal, people familiar with the matter said.

Dish founder and Chairman Charlie Ergen said on Thursday that Sprint's special committee has not yet allowed Dish to view its data room to gain a closer look at Sprint's books. The committee is dragging its feet partly because Dish does not have committed financing, people familiar with the matter said.

Many Wall Street banks including Bank of America Corp, Citigroup Inc, UBS AG and Deutsche Bank are already conflicted and cannot provide financing to Dish because of their roles in other aspects of the bidding war.

Bank of America is advising Sprint's special committee, while Citigroup, UBS and Rothschild are advising Sprint. Deutsche Bank is financing SoftBank's proposal.

In a letter to Sprint's board of directors on April 15, Dish said it intended to fund the $17.3 billion cash portion of the deal using $8.2 billion in balance sheet cash and raising $9 billion in additional debt financing.

"We have a proven track record in raising capital to fund strategic initiatives and have received a Highly Confident Letter from our financial advisor, Barclays, confirming our ability to raise the required financing," the letter said.

(Reporting by Soyoung Kim, Olivia Oran and Sinead Carew in New York; editing by Gary Hill and Matthew Lewis)

LONDON (Reuters) - Is nanomedicine the next big thing? A growing number of top drug companies seem to think so.

The ability to encapsulate potent drugs in tiny particles measuring billionths of a meter in diameter is opening up new options for super-accurate drug delivery, increasing precision hits at the site of disease with, hopefully, fewer side effects.

Three deals struck this year by privately held Bind Therapeutics, together worth nearly $1 billion if experiments are successful, highlight a new interest in using such tiny carriers to deliver drug payloads to specific locations in the body.

U.S.-based Bind is one of several biotechnology firms that are luring large pharmaceutical makers with a range of smart drug nanotechnologies, notably against cancer.

And nanomedicine is also being put to work in diagnosis, with tiny particles used to improve imaging in scanners, as well as rapidly detecting some serious infections.

In future, researchers hope to combine both treatment and diagnostics in a new approach dubbed "theranostics" that would allow doctors to monitor patients via their medicines.

After much hype but limited clinical success, scientists in the nanotechnology field finally see a turning point.

"We have been hearing about the promise of nanomedicine for a long time, but it is now really starting to move," said Dan Peer, who runs a nanomedicine laboratory at Tel Aviv University.

"There is a new level of confidence in this approach among the big pharmaceutical companies ... We will see more and more products in clinical testing over the next few years and I think that is very exciting."

Nanoparticles made of polymers, gold and even graphene - a newly-discovered form of carbon - are now in various stages of development. In cancer alone, 117 drugs are being assessed using nanoparticle formulations, though most have yet to be tried on patients, according to Thomson Reuters Pharma data.

Other potential applications include treatments for inflammatory disorders, heart and brain diseases, and pain.

COLLATERAL DAMAGE

Companies are increasingly focused on better drug targeting to increase efficacy and lessen the collateral damage caused by medicinal "carpet bombing" - a particular problem in cancer, where toxic compounds are needed to kill tumors.

The work on drug-carrying nanoparticles parallels advances in using so-called "armed antibodies" to deliver drugs direct to cancer cells - an approach championed by Roche.

The Swiss group won U.S. approval in February for Kadcyla, its first such antibody-drug conjugate, which treats breast cancer with fewer side effects like hair loss.

"All these developments have prompted companies to look at new avenues because the older ways of using drugs haven't worked so well," said Robert Langer, a pioneer of nanomedicine who runs the world's largest biomedical engineering laboratory at the Massachusetts Institute of Technology.

Having worked on drug delivery since the 1970s, Langer has seen plenty of ups and downs.

The world's first nanomedicine was actually approved back in 1995 when U.S. regulators gave a green light to Doxil for treating Kaposi's sarcoma, a cancer often associated with AIDS.

Doxil - a hollow fatty ball known as a liposome with a cancer-killing drug inside it - was a breakthrough. Yet few other nanomedicines have followed.

Recent scientific advances have changed the game, however. Bind's nanoparticles, for example, are programmed to reach the right spot using targeting molecules that recognize specific proteins linked to disease on the surface of cells.

They also have a stealth covering that shields them from the immune system, in order to minimize adverse reactions.

Since January, Amgen, Pfizer and AstraZeneca have all signed up to use Bind's technology, which comes from work originally carried out in Langer's lab.

And Bind is not the only game in town. Another approach, using tiny particles of gold as drug carriers, is being explored in a deal that AstraZeneca signed in December with CytImmune.

"Anything you can do to improve targeting of tumors rather than normal tissue - whether that is through an armed antibody or nanoparticle approach - increases the chance of success," said Susan Galbraith, who leads AstraZeneca's oncology research.

PARALLEL APPROACHES

The work remains early stage and Peer of Tel Aviv University says all the novel carriers will have to be studied closely for potential toxicity. However, experience with liposomes is good and versions of gold nanoparticles have also been used safely for many years to treat rheumatoid arthritis.

Injecting patients with gold may sound like a pricey option but with thousands of nanoparticles fitting into the width of a human hair, the amount of metal used is tiny. Gold, unlike some other metals, is not toxic and has been used in various medical treatments for many years without harmful effects.

Bind CEO Scott Minick also thinks his polymer technology will have cost advantages over expensive antibody drugs.

Further out, Kostas Kostarelos, professor of nanomedicine at University College London, has high hopes for graphene - a one-atom-thick form of carbon. His team is currently working with graphene nanomaterials in pre-clinical experiments.

"We will see parallel development of different materials, each offering something different therapeutically," he said.

Other venture-backed nanomedicine firms include Cerulean Pharma, whose technology has made a highly potent cancer drug tolerable but which recently had disappointing results in a clinical study, and two companies looking at new vaccines.

Selecta Biosciences has a deal on food allergy vaccines with Sanofi, while Liquidia Technologies is allied with GlaxoSmithKline on vaccines and inhaled products.

MIT's Langer is convinced more Big Pharma companies will think small in future.

"You can be sure others will jump on the bandwagon sooner or later. That doesn't mean they might not jump off for a little bit too - but they will jump back on. These technologies are here to stay," he said.

(Editing by Peter Graff)

PARIS (Reuters) - France's Francois Hollande said he was undeterred by a first year in power marked by economic slowdown and a record slump in his personal popularity, arguing his 5-year presidency would achieve results over time.

In comments to correspondents from Reuters and Agence France Presse a week before the anniversary of his May 2012 election win over Nicolas Sarkozy, Hollande shrugged off polls showing his popularity rating around 25 percent, after the sharpest fall for any president in over half a century.

"I'm aware how serious the situation is. It's a president's duty to stay the course and to look beyond today's squalls. It's called perseverance," Hollande said.

"People can criticize my decisions, think I am on the wrong track or have not taken the right route, but if there is one thing I am sure of it's that I have taken major decisions for France - many more in 10 months than were taken in 10 years."

Hollande, France's first Socialist president since Francois Mitterrand, is squeezed between a business sector clamoring for lower taxes and labor costs, euro zone partners pressing for budget cuts and households hostile to austerity measures.

He said he would persevere with measures to restore growth like corporate tax credits aimed at easing headcount costs and a labor reform set to become law in May.

"It's the president who is held to account, and that's quite legitimate. It's up to me to weigh up what I need to do for the country today. To remain in control by being sure of my ideas."

RALLY THE NATION

After his campaign pledges to revive the flagging industrial sector, end a relentless rise in unemployment and meet deficit-cutting targets, Hollande has had to row back on almost all his economic targets, as factory layoffs continue apace.

While he stands by a goal to turn around unemployment by year-end, few believe he can achieve that. Jobless claims rose for the 23rd straight month in March to an all-time high.

Treading a delicate line as he attempts step-by-step reforms that were not part of his election campaign, Hollande said the country should have faith in him.

"The only thing that counts is the results. I have made promises and I will be judged on them," he said. "My hope is to rally the nation and restore confidence. That will take time, but it's my sole objective."

His economic woes aside, Hollande is also suffering from a perception that since he took power France is losing its voice on European policy. His prime minister said this month that France was losing its leadership role.

Foreign investors are watching closely since the government admitted it would need an extra year to reach a European Union budget deficit ceiling of 3 percent of output.

Inside France, where a scandal over an ex-budget minister's secret Swiss bank account has not helped, polls show a slim majority of people would prefer Sarkozy to be president today.

"I realized a long time ago that I would not go far if I let the commentary get to me," Hollande said. "According to what was said about me as a candidate, I had no chance of becoming president."

(Writing by Catherine Bremer; Editing by Robin Pomeroy)

Atlas' price was recently around $42 a share, trading at eight times 2014 earnings estimates, versus its historic range of 12 to 15 times. As a result, some investors and analysts think the stock could climb nearly 50 percent to $60, the article said.

Stronger-than-expected first quarter earnings last week, along with bright earnings prospects on the back of demand for its new fleet of fuel-efficient Boeing747-8 air freighters and a pickup in global volume, are positives for the company's stock, Barron's said.

(Reporting by John McCrank in New York; Editing by Marguerita Choy)

VATICAN CITY (Reuters) - Israeli President Shimon Peres invited Pope Francis on Tuesday to visit Israel, at his first meeting with the new pontiff who has appealed for peace in the Middle East.

The pope accepted the invitation "with willingness and joy," a Vatican spokesman said, but there was no indication when a trip would be made.

"I am expecting you in Jerusalem, not just me but the whole country of Israel," Peres told the pope in the presence of reporters after 30 minutes of private talks in the Vatican's Apostolic Palace.

Francis, the former Cardinal Jorge Bergoglio of Argentina, made an appeal for peace between Israelis and Palestinians in his Easter address last month.

A Vatican statement said they discussed prospects for a resumption of negotiations for a solution that would respect "the legitimate aspirations of the two Peoples, thus decisively contributing to the peace and stability of the region".

They also agreed on the need for a political solution to the civil war in neighboring Syria.

Both of Francis's two immediate predecessors, John Paul II and Benedict XVI, visited the Holy Land, including Palestinian territories, in 2000 and 2009 respectively.

Peres asked Francis "to pray for all of us" and told the pope that he would pray for him during a trip on Wednesday to the central Italian city of Assisi, where he will visit the tomb of St. Francis, whose name Bergoglio adopted when elected pope.

Francis will travel to Rio de Janeiro in July to preside at the Roman Catholic Church's World Day of Youth, a gathering of young people from around the world. He is expected to visit his native Argentina in early 2014.

(Editing by Robin Pomeroy)

PARIS (Reuters) - US Anti-Doping Agency (USADA) president Travis Tygart accused the International Cycling Union (UCI) on Thursday of failing in its promise to deal with the consequences of the Lance Armstrong scandal.

Speaking before a French Senate investigation committee on doping, Tygart, the man behind Armstrong's fall, said the governing body had taken no action after the cyclist was banned for life for doping his way to seven Tour de France titles.

"It is unacceptable for the UCI to have accepted our reasoned decision, publicly announced that 'decisive action was needed' and simply have done nothing," Tygart said in a 15-minute speech.

The USADA CEO reminded committee members that the UCI had said that only "a transparent and decisive examination of the past would answer the critics".

"Well, the only decisive action came a few weeks later when UCI disbanded the established independent commission when it actually started to act independently by taking off the handcuffs and removing the blindfolds that the UCI had placed on it from the onset," he said.

On January 28, the UCI disbanded the Independent Commission which was investigating the Armstrong affair in favor of a Truth and Reconciliation process -- which has yet to start.

"The UCI's current strategy is to play a stall game, let the cycling season start, let another Tour de France occur, let another six months go by and people will forget," said Tygart.

"Stall or delay yourself out of the problem."

UCI president Pat McQuaid had described Tyler Hamilton and Floyd Landis, who testified against Armstrong, as "scumbags" after the UCI had ratified the USADA's decision to strip Armstrong of his seven Tour titles last October.

"It sends a strong and frightening message to others: you'd better not come forward," Tygart said.

It is time for those who love the sport to finally know the whole truth, Tygart added.

"But for clean athletes and those who share the Olympic values, now is the time for the truth," he said.

"We cannot wait any longer if we mean what we say by Olympic values, about clean play, fair play. The UCI must follow through on what they announced: decisive action."

(Reporting by Julien Pretot; Editing by Sonia Oxley)

The increase along with a jump in homebuilder confidence this month suggests the housing market continues to recover.

The National Association of Realtors said Monday that sales rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million. That's up from 4.69 million in September, which was revised lower.

The sales pace is roughly 11 percent higher than a year ago. But it remains below the more than 5.5 million that economists consider consistent with a healthy market.

As the economy slowly recovers, more people have started looking to buy homes or rent apartments. Prices are steadily climbing, while mortgage rates have been low all year. At the same time, rents are rising, making the purchase of a single-family home or condominium more attractive.

"Altogether, the report is encouraging," said Michael Gapen, an economist at Barclays Capital. "Our view is that housing is in a recovery phase," he added, though it will be restrained by limited credit and modest job gains.

A separate report Monday showed confidence among homebuilders rose this month to its highest level in six and a half years. The increase was driven by strong demand for newly built homes and growing optimism about conditions next year.

The National Association of Home Builders/Wells Fargo builder sentiment index increased to 46, up from 41 in October. Readings below 50 suggest negative sentiment about the housing market. The index last reached that level in April 2006. Still, the index has been trending higher since October 2011, when it stood at 17.

The Realtors' group said Superstorm Sandy delayed some sales of previously occupied homes in the Northeast. Sales fell 1.7 percent there, the only region to show a decline. Those sales will likely be completed in future months, the group said.

The median price for previously occupied homes increased 11.1 percent from a year ago to $178,600, the Realtors' said.

A decline in the number of homes available for sale is helping push prices higher. There were only 2.14 million homes available for sale at the end of the month, the lowest supply in 10 years. It would take only 5.4 months to exhaust that supply at the current sales pace. That's the lowest sales-to-inventory ratio since February 2006.

Prices are also benefiting from the mix of homes being sold. Sales of homes priced at $500,000 and above have jumped more than 40 percent in the past year. Sales of homes and condominiums that cost less than $100,000 fell 0.6 percent.

There have been other positive signals from the housing market. Applications for mortgage loans to buy homes jumped 11 percent in the week ended Nov. 9, compared with a week earlier, the Mortgage Bankers' Association said last week. Purchase applications are up 22 percent in the past year.

Foreclosures are slowing. The number of properties that began the foreclosure process in the first 10 months of the year fell 8 percent compared with the same period last year, RealtyTrac said last week.

And builders broke ground on new homes and apartments at the fastest pace in more than four years in September. The jump could help boost the economy and hiring.

Still, the market has a long way back to full health. Many potential home buyers cannot meet stricter lending standards or produce larger down payments required by banks.

That can be a particular problem for first-time homebuyers. They accounted for 31 percent of sales in October, down slightly from September and below the 40 percent that is common in a healthy market.

Federal Reserve Chairman Ben Bernanke said Thursday that banks' overly tight lending standards may be preventing sales and holding back the U.S. economy.

___

Veiga reported from Los Angeles.