In brief: Microsoft Lumia 535 debuts

SEATTLE – Microsoft officially entered the post-Nokia smartphone era with the release late Monday of a budget-priced Lumia device.

The Microsoft Lumia 535 will sell for about $137, a figure Microsoft said would vary by market. Microsoft’s previous Lumia smartphones – which carried the “Nokia Lumia” name – were released in September and cost between $259 and $430.

Last month, Microsoft said it would start phasing out the Nokia brand for its smartphones, the latest step in integrating Nokia’s phone-manufacturing business. Microsoft’s $7.5 billion deal to buy the Finnish company’s handset group closed in April.

As part of the deal, Microsoft licensed the rights to use the Nokia name for 10 years on basic cellphones that lack the processing power and Internet connectivity of more advanced smartphones. Microsoft obtained more limited rights to use of the Nokia name on smartphones.

With Monday’s announcement Microsoft is pushing ahead with a brand it owns in its entirety.

Microsoft’s news release on the launch didn’t specify in which countries Lumia 535 would be sold. A spokesman said the phone would be rolled out this month in some markets.

You have to break some eggs to make an omelet and, according to a lawsuit from the maker of Hellmann’s, the same goes for mayonnaise.

The food company Unilever is suing a California company that uses the word “Mayo” in its sandwich spread name, saying that federal regulators and dictionaries define mayonnaise as a spread that contains eggs.

The suit claims false advertising by the company Hampton Creek for labeling its plant-based product “Just Mayo.” Unilever, which also sells the Best Foods brand, says in a complaint filed in federal court that the word mayo implies that the product is mayonnaise, and Just Mayo is “stealing market share from Hellmann’s.”

Hampton Creek CEO Josh Tetrick said his company isn’t trying to mislead consumers. It is focused on using plants to help make everyday food products better.

Stocks creep to record high

NEW YORK – The stock market eked out another all-time high on Tuesday, but the gains were slight as investors awaited more news to give them an indication about the strength of the economy.

Homebuilders got a lift after D.R. Horton reported a surge in net orders for the fourth quarter, the second encouraging report from the sector in as many days after Toll Brother reported strong revenue growth Monday. Juniper Networks slumped after the sudden departure of its CEO.

The Standard & Poor’s 500 index rose 1.42 points, or 0.1 percent, to 2,039.68. The Dow Jones industrial average climbed 1.16 points, or less than 0.1 percent, to 17,614.90. The Nasdaq composite climbed 8.94, or 0.2 percent, to 4,660.56.

Top Italian banks pass EU test

MILAN – The recent Europewide health check on banks is producing results for Italy, whose top two lenders on Tuesday posted a strong rise in quarterly profits after cleaning up their finances in anticipation of the test.

While nine smaller Italian banks failed the test, putting a negative spotlight on Italy’s failure to generate economic growth, UniCredit and Intesa SanPaolo, the country’s two biggest banks, passed with strong marks.

Before the test, the two banks cleaned out their books by writing off bad loans, a painful process that seems to be paying dividends. On Tuesday, both reported profits in the three months ending Sept. 30 more than doubling, early signs of recovery in the banking sector.