NEW YORK — Solid first-quarter profits from discounters Wal-Mart and TJX show that more Americans are hunting for bargains as they struggle to cover their monthly credit card payments, put food on the table and gas in the family car.

Diversified financial-services companies' shares dropped on Tuesday as oil prices jumped to a new record near $127 a barrel on the New York Mercantile Exchange, and retail sales and business inventory data failed to appease investors' concerns.

Federal antitrust regulators have cleared Discover Financial Services' $165 million acquisition of Diners Club International from Citigroup Inc., a government agency said Tuesday.

Diversified financial-services companies' shares pulled back Tuesday morning after the Commerce Department said retail sales fell in April and business inventories increased by the smallest amount in a year, two signs of a weakening economy.

Talks are underway to settle a dispute over financing the $20 billion leveraged buyout of U.S. radio operator Clear Channel Communications Inc <CCU.N>, the company said in a statement on Monday.

By Megan Davies and Leslie Gevirtz

Shares of Clear Channel Communications surged on media reports that a revised deal has been reached to finance the radio and media company's buyout by Thomas H. Lee Partners and Bain Capital.

Citigroup Inc <C.N> is considering selling its Japanese consumer finance company CFJ KK or cutting the unit's business significantly as part of its plans to shed assets, Japanese daily Nikkei reported on Sunday.

TOKYO (Reuters) - Citigroup Inc <C.N> is considering selling its Japanese consumer finance company CFJ KK or cutting the unit's business significantly as part of its plans to shed assets, Japanese daily Nikkei reported on Sunday.

Citigroup Inc.'s new chief executive, Vikram Pandit, plans to stick with a global banking model after months of intense review — but only after shrinking the company by about one-fifth first.

Among the sector activity stories for Friday, May 9, from AP Financial News:

Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

By Jonathan Stempel and Dan Wilchins

Stocks closed lower Friday, weighed down by another record for oil prices and dismal results from insurance giant AIG.

Shares of national banks mostly rose Friday, though Citigroup Inc. shares slipped after the company disclosed that it plans to shed nearly $500 billion in assets.