Roland Li

One of the best-performing sectors this year was also one of the hardest hit by the recession: homebuilders, whose stocks have outpaced the broader market with a modest rebound in home prices and increased demand for properties, but much of recovery has unevenly benefited the luxury sector.

The number of U.S. homeowners with negative equity, or underwater mortgages, fell in the second quarter as home prices increased and inventory fell, foreclosure data firm CoreLogic said Wednesday.

Damages in a lawsuit filed against American Airlines (PINK:AAMRQ), United Airlines (NYSE:UAL) and other companies in connection to the Sept. 11, 2001, terrorist attacks could total upward of $2.8 billion.

Foreclosed properties in the U.S. cause only a modest decline on the home prices of nearby properties, and the effects go away a year after the distressed property is resold, according to a working paper by the National Bureau of Economic Research.

Strikes at South African mines controlled by Lonmin PLC (London: LMI), the world's third-largest platinum producer, and Gold Fields Ltd. (NYSE: GFI), the fourth-largest gold miner, escalated Monday, further endangering production of the metals.

Paul Volcker, the former Federal Reserve chairman and a great proponent of new bank regulations, was a key enabler in the rise and eventual collapse of Fannie Mae, the government-sponsored enterprise focused on mortgage financing, according to a new book.

After breaking from decades of military rule, Myanmar's parliament ratified legislation promoting foreign investment on Friday, opening the southeast Asian country to investment from companies like MasterCard Inc. (NYSE: MA), the Coca-Cola Company (NYSE:KO) and General Electric Co. (NYSE: GE).

In the wake of a strike that left 34 platinum miners dead after clashes with police, South African unions continued to refuse to work, disrupting production of the metal in the country that accounts for 75 percent of global exports and spilling over to impact gold miners.

Emirates, the world’s largest airline by international passenger traffic, has agreed to a revenue-sharing pact with Qantas Airways Ltd. (Sydney: QAN), Australia's largest airline and the oldest continually operated airline in the world, leaving Emirates' former partner British Airways out in the cold.

After seizing minority control of Quebec's legislature and premiership on Tuesday, the separatist Parti Quebecois is seeking to increase mining royalties and individual taxes, which could impact companies like Cliffs Natural Resources (NYSE: CLF), Rio Tinto Group (NYSE: RIO) and Xstrata Plc (London: XTA).

Chile retained its top spot among Latin American economies as the most economically competitive nation, while its neighbor to the east continued falling, according to a report from the World Economic Forum, which hosts the annual economic summit in Davos, Switzerland.

Hudson's Bay Co., the owner of Lord & Taylor and North America's oldest continuously operating retailer, plans to go public on the Toronto Stock Exchange by November in one of the biggest retailer offerings since the financial crisis began, according to reports.

Manchester United PLC (NYSE: MANU), the 19-time English Premier League soccer champion, is valued at an average of $17 per share.

Oil & Natural Gas Corp. (Mumbai: ONGC), India's largest state-controlled energy driller, could lose its bid for $5 billion in Canadian assets controlled by energy giant ConocoPhillips Co. (NYSE: COP), due to its investments in Iran, which is facing U.S. sanctions.

The Hurricane Isaac-related shutdown of at least four U.S. oil refineries and an explosion at a major refinery in Venezuela -- the fourth-largest provider of oil to the U.S. -- could lead to oil prices rising as supply falls.

American Airlines could go from being bankrupt to being part of the world's largest airline if a merger with US Airways, the fifth-largest domestic airline, goes through.

Three reports released this week demonstrated positive trends in the U.S. housing market, but experts warn that a real recovery is still months away.

Eric Schmidt, the executive chairman of Google Inc. (Nasdaq: GOOG), sold another 50,000 shares of the company worth around $34.2 million, according to documents filed Wednesday with the Securities and Exchange Commission.

Sears Holdings Corp. (Nasdaq: SHLD), which revolutionized retail in the 20th century with its mail order catalogs. will be removed from the S&P 500 Index at the end of Sept. 4, according to Standard & Poor's, after struggling to lure consumers amid the weak economy.

Eric Schmidt, the executive chairman of Google Inc. (Nasdaq: GOOG), has sold 103,193 shares of the company worth around $69.3 million, according to Tuesday filings with the Securities and Exchange Commission.

Ryanair Holdings (Nasdaq: RYAAY), Europe's largest discount airline company by passengers, is asking for some help from rivals in its third attempt to buy Aer Lingus Group Plc (London: AERL).

Seven key events in the next fortnight that will determine whether the now-four-year-old euro zone crisis results in Greece and perhaps also Spain leaving and even whether the monetary union will survive. Here is a list of the seven critical dates with their corresponding events.

Spain's Catalonia region will ask for more than $6 billion from the nation's central government as it struggles with massive debts and an acute budget shortfall. Other Spanish regions are also lining up for similar aid requests.

The Dodd-Frank Act was passed in 2010 to rein in the Wall Street excesses that led to the financial crisis, but the massive law is only around half complete, according to the Financial Services Committee's Dodd-Frank Burden Tracker.

Facebook Inc. (Nasdaq: FB) co-founder Dustin Moskovitz has sold 450,000 shares of his old company for around $8.7 million, according to a regulatory filing, but when it comes to his own ventures, expect him to remain independent.

Banks involved in London interbank offered rate benchmark, or Libor, manipulations could be liable for billions of dollars in lawsuits from a slew of financial firms and investors who were affected by the distortions, according to reports.

Facebook Inc. (Nasdaq: FB)'s stock may be sinking, but it is forging ahead with an expansion to its campus in Menlo Park, Calif., designed by the renowned architect Frank Gehry.

Bill Ackman, the mercurial hedge fund manager of Pershing Square Capital LLP and activist investor, is at it again. Ackman said in a regulatory filing Thursday that his company had been in talks with Simon Property Group Inc. (NYSE: SPG), the largest U.S. mall owner, regarding a takeover of General Group Properties Inc. (NYSE: GGP), its next largest rival.

The government's role in the housing market does not generally inspire the same impassioned responses as abortion or health care, but the future of one mortgage tax policy could affect the fate of around $85 billion in taxpayer benefits.