World trade volume rose by 2.5% in June from the previous month based on preliminary data, following a drop of 1.4% in May (marginally revised down from a drop of 1.3%). The rise in June was the strongest since July 2008. Nevertheless, due to the unprecedented drops in November 2008 up to January 2009, world trade  in June was still 19% below its peak in April 2008, according to the CPB Netherlands Bureau for Economic Policy Analysis. World industrial production increased by 2.0% in June from the previous month.

The death of Senator Edward Kennedy has brought a torrent of tributes for his success as a legislator. Almost a half century in the United States Senate would not surprisingly result in some achievements but it would be hard to fake commitment for that long and Kennedy can truly be termed a politician who made a difference.

The death of Senator Edward Kennedy has brought a torrent of tributes for his success as a legislator. Almost a half century in the United States Senate would not surprisingly result in some achievements but it would be hard to fake commitment for that long and Kennedy can truly be termed a politician who made a difference.

The UK financial regulator has proposed a global tax to deflate the “swollen” financial sector and some of its “socially useless activity.”

Many communities have been laid low by the financial crisis and housing bust, but in Malibu, Calif., it has presented a golden opportunity.

 Markets news on stocks, currencies and oil.

 Markets news on stocks, currencies and oil.

US sales of new one-family houses in July 2009 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent, above the revised June rate of 395,000 - - the highest number sold since September 2008 - - but is 13.4 percent below the July 2008 estimate of 500,000. Meanwhile manufacturers’ orders for durable goods - - items expected to last at least three years  - - jumped 4.9 percent last month to a seasonally adjusted $168.43 billion, the Commerce Department said Wednesday -  -the largest increase in two years when orders rose 5.4% in July 2007.

US sales of new one-family houses in July 2009 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent, above the revised June rate of 395,000 - - the highest number sold since September 2008 - - but is 13.4 percent below the July 2008 estimate of 500,000. Meanwhile manufacturers’ orders for durable goods - - items expected to last at least three years  - - jumped 4.9 percent last month to a seasonally adjusted $168.43 billion, the Commerce Department said Wednesday -  -the largest increase in two years when orders rose 5.4% in July 2007.

The growing wave of U.S. hotels defaulting on their debt has spawned a growth industry for companies that oversee and operate hotels seized by lenders.