U.S. July existing home sale pace fastest in 2 years
Sales of previously owned U.S. homes in July notched their fastest pace in nearly two years, an industry survey showed on Friday, the strongest sign yet that housing was pulling out of a three-year slump. Read Full Article here.
Clunker rebates to end on August 24
The U.S. government said it will suspend its popular Cash for Clunkers auto rebates on Monday as the program's $3 billion budget runs dry, a month after it was launched. Read Full Article here.
Fed retreat draws elite, but glamour is on holiday
Central bankers around the world may be gathering to solve the world's problems at their annual mountain retreat hosted by the Federal Reserve Bank of Kansas City, but the only fur coat being sported in the lobby of the Jackson Lake Lodge is by a stuffed grizzly bear. Read Full Article here.
News Corp eyes online news consortium: report
In an effort to combat falling advertising revenue, News Corp executives have been proposing the formation of a consortium with other publishers to charge for news distributed on the Internet and on portable devices, the Los Angeles Times reported on its website. Read Full Article here.
Euro zone economy returning to growth
The euro zone economy probably crawled back to growth this quarter after its worst recession on record as firms' outlook for the future brightened to the best in more than two years, key surveys showed on Friday. Read Full Article here.
Hollywood playing catch-up with videogames
Films and videogames would seem a match made in heaven, so why are games based on hit movies so bad? Despite sharing the same demographic of devoted fans, action, sci-fi and fantasy films rarely translate into branded videogame hits. Read Full Article here.
Studio pushes up Jackson film, Ortega to direct
The studio behind the Michael Jackson film This Is It on Thursday advanced its release by two days to October 28, anticipating huge demand for the movie of his final performance rehearsals just days before his death. Read Full Article here.
AIG wins dismissal of $1 billion workers comp lawsuit
American International Group Inc won dismissal of a federal lawsuit accusing the troubled insurer of fraudulently shortchanging state workers' compensation pools out of more than $1 billion. Read Full Article here.
GM moves closer to picking Magna for Opel: sources
General Motors is moving closer to picking Germany's favored buyer, Magna International and its Russian partners, for its Opel business when GM's board meets on Friday, sources close to the matter said. Read Full Article here.