UNITED STATES

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Pace of U.S. existing home sales fastest in 2 years

Sales of previously owned U.S. homes jumped 7.2 percent in July to mark the fastest pace in nearly two years, a survey showed on Friday, in a strong sign that housing is pulling out of a three-year slump.

SEC drops backdating probe against former Pixar CFO

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U.S. securities regulators have dropped a stock options backdating investigation against former Pixar Animation Studios Chief Financial Officer Ann Mather, according to a letter obtained by Reuters on Friday.
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Wall Street ends at new highs for the year

Stocks ended the week at 2009 highs on Friday after a surprising rise in home sales and optimistic comments from Federal Reserve chief Ben Bernanke reassured investors about the prospects for an economic recovery.
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Hurricane Bill weakens near Bermuda

Hurricane Bill weakened slightly on Friday as it followed a path between the U.S. East Coast and Bermuda, but the tiny British territory warned its residents to prepare for dangerous surf and possible flooding.
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Wall Street hits 2009 highs

Stocks surged to 2009 highs on Friday after a surprising increase in existing home sales offered solid evidence of a recovery and positive comments from Federal Reserve Chairman Ben Bernanke bolstered optimism about the economy.
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Ex-UBS banker turned informant sentenced to jail

A former UBS banker and key informant in the U.S. tax evasion case against Swiss bank UBS AG was sentenced to three years and four months in prison on Friday for helping a billionaire hide assets from U.S. tax authorities.
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Dollar likely higher in the week ahead

The U.S. dollar is likely to rise in the week ahead as investors seek safety amid doubts about the strength of the global recovery after a sell-off in Chinese stocks.
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Chrysler deputy CEO Press to leave: source

Chrysler Group LLC Deputy Chief Executive Jim Press has conveyed his plans to leave the automaker by November, according to a person briefed on the still-confidential discussion.
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JM Smucker gets Folgers coffee boost, sees strong FY

J.M. Smucker Co , best known for its peanut butter and jelly, posted a higher quarterly profit that easily beat market view, driven by strong results at its Folgers coffee business, and expected its full-year profit at the top end of its outlook.
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Pace of U.S. existing home sales fastest in 2 years

Sales of previously owned U.S. homes notched their fastest pace in nearly two years in July, an industry survey showed on Friday, the strongest sign yet that housing was pulling out of a three-year slump.

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