ECONOMY

MARCH RETAIL SALES RISE 0.3%, LESS THAN FORECAST

American retail sales rose less than forecast in March as higher gasoline prices crimped consumers’ willingness to spend. The 0.3% increase followed a 0.5% February gain, the Commerce Department said yesterday in Washington. Sales were forecast to rise 0.8%, based on a Bloomberg News survey. Excluding automobiles and gasoline, which are volatile month to month, sales fell 0.1%.The decline was the first since April 2004, the beginning of what Federal Reserve Chairman Alan Greenspan last year called a “soft patch” in the economy. March’s gain was led by sales of autos, building materials and fuel. Cooler weather in the eastern America hurt sales of spring apparel. Purchases fell at department stores, restaurants, clothing outlets, and retailers of furniture and electronics.

– Bloomberg News

TECHNOLOGY

SIEBEL CHIEF LAWRIE RESIGNS AFTER LESS THAN A YEAR Siebel Systems, the world’s largest maker of customer-service software, said Michael Lawrie stepped down as chief executive officer, less than a year after taking the reins from company founder Thomas Siebel. Director George Shaheen, 60, takes over as CEO effective immediately, the San Mateo, Calif.-based company said in a statement yesterday. Mr. Lawrie and the board “mutually agreed” on his resignation after he failed to revive sales, Mr. Siebel, who remains chairman, said on a conference call with analysts. The departure may signal that Mr. Siebel, 51, had trouble giving up day-to-day control of the company he started in 1993. Mr. Lawrie leaves a week after the software maker reported an unexpected loss in the first quarter because managers failed to close new deals.

– Bloomberg News