Sales of existing homes in America plunged to their lowest level in more than a decade, down 27.2% in July compared with June. Sales of new homes also plummeted, to a record low since figures were first kept in 1963. Both declines were worse than had bee… more »

The oil spill in the Gulf of Mexico continued to shake BP. The firm announced that its unpopular chief executive Tony Hayward would step down on October 1st. Robert Dudley, its American executive director, will replace him. BP reported a loss of $17 bill… more »

Tens of thousands of files were leaked from the American armed forces to WikiLeaks, a website. They related to the conduct of the war in Afghanistan and sharpened a perception that Pakistan’s military intelligence agency, the ISI, has been backing the Ta… more »

Greece raised €1.6 billion ($2 billion) in six-month treasury bills, its first auction since a bail-out in May. It will pay a 4.65% yield and the sale was oversubscribed. The national debt-management agency was forced to drop plans to auction one-year pa… more »

In Kampala, Uganda’s capital, at least 76 people were killed in explosions at a restaurant and a rugby club as they watched the final of the football World Cup. The Shabab, an Islamist militia group in Somalia, claimed responsibility. Uganda contributes… more »

Agricultural Bank of China, the last of China’s big state-owned banks to float on the stockmarket, raised $19.2 billion in Hong Kong and Shanghai. It could end up being the world’s biggest-ever initial public offering. Investors are betting that AgBank,… more »