News Today - May 27

* General Motors has fallen far short of the bondholder support it needed for its proposed debt-for-stock offer, according to a source familiar with the matter, virtually guaranteeing that the nation's largest automaker will be forced to file for bankruptcy court protection within the week. full story

* North Korea reportedly restarts a nuclear reprocessing facility to produce plutonium and launches another missile into the Sea of Japan

* Japan reports another sharp fall in exports for April, though the drop is smaller than the previous month’s, showing signs of a possible bottoming.

* The home price slide accelerated during the first three months of 2009, according to a report issued Tuesday. The S&P/Case-Shiller National Home Price index, a bellwether of real-estate market direction, plunged a record 19.1% during the quarter compared with the first three months of 2008. That followed an 18.2% drop last quarter.

* A reading on U.S. consumer sentiment jumps to 54.9 in May from an upwardly revised 40.8 in April as expectations for jobs improves.

* Softening of real estate prices have proved to be a blessing for Wal-Mart India and the company is now planning to accelerate the opening up of up to 15 stores in the country within three years, instead of seven as planned earlier.

* Oil prices climbed on Tuesday to a new six-month high as traders viewed a jump in US consumer confidence as a signal for an economic rebound.