John Paulson cuts the price on his Hamptons home; Manhattan's Spence School buys a townhouse; NBA's Ray Allen trims the price of his Washington home, while a few miles away MLB's Jay Buhner lists his house.

Wall-to-wall windows have become a signature of chic urban living, from Minneapolis to Miami. But some residents say the reality can be less glamorous.

Federal bank regulators said they believe a plunge in the preferred shares of Fannie Mae and Freddie Mac would have limited impact through the banking system.

Rates on fixed-rate home mortgages fell this week, following reports of weakness in the economy. But rates on adjustable-rate mortgages rose slightly.

Eircom, the Irish telco which is majority owned by a fund controlled by the troubled Australian bank Babcock & Brown, today reported an 8% increase in earnings for the year to the end of June.

Markets news on stocks, currencies and oil.

Today, the US Commerce Department reported second quarter GDP rose 3.3 percent, as compared to 0.9 percent in the first quarter. Stronger exports, reduced imports and increased personal consumption contributed importantly to this strong growth report.

New York real-estate investor Adam Hochfelder has been arrested for allegedly “stealing more than $17 million from a panoply of banks and individuals.”

Fannie Mae shook up its top ranks, announcing its chief business officer and two others are leaving as it moves to save capital. Shares surged 15%.

Trips by overseas visitors to Ireland in June, fell 3% compared with the same month last year, according to the CSO. The fall was mainly due to a 10% decline in the numbers travelling from North America and an 8% fall in trips from UK.