Business

New home sales post biggest July gain since the housing bust

Sales in July roughly matched the historic pace of 650,000 new homes selling each year, as the 4.9% unemployment rate, mortgage rates hovering near all-time lows and recovering economy have pulled more buyers to new developments and properties.

Business

Speedo, Ralph Lauren drop Ryan Lochte after Rio incident

As part of this decision, Speedo USA will donate a $50,000 portion of Lochte's fee to Save The Children, a global charity partner of Speedo USA's parent company, for children in Brazil. Bentz issued a statement saying Lochte tore a sign off a wall at the gas station and got into a heated exchange with the security officers, though Bentz denied the swimmers did any damage to a locked bathroom as authorities alleged.

Business

Striking workers to protest over 'sabotaged' Southern Railway deal

The rail operator has already set up an emergency timetable with 15% fewer services running because it was failing to run the full service without consistent cancellations and delays. Southern called for fresh talks as the second day of strike action caused more travel misery for hundreds of thousands of passengers. The train operator, part of the giant Govia Thameslink Railway (GTR) franchise, said it would meet the RMT "any time, any place, anywhere" to end the walkout.

Business

Pfizer buys Medivation for $14bn

Pfizer will offer Medivation shareholders $81.50 per share in cash, a premium of 21.35 percent to the stock's Friday close of $67.16. It agreed to buy Anacor Pharmaceuticals for $5.2 billion in May. But despite France's Sanofi, and United States firms Merck and Celgene showing interest in Medivation this year, insiders expect Pfizer to agree a takeover within days.

Business

J.K. Rowling to release 3 Harry Potter-based short story collections

These short e-books are the newest example of Rowling selecting a nontraditional format for continuing to spin fresh yarns about about Harry the boy wizard and the world he inhabits. In Short Stories from Hogwarts of Heroism, Hardship and Dangerous Hobbies, Pottermore celebrates the colourful staff of Hogwarts. Between Harry Potter and the Cused Child opening and Fantastic Beasts and Where to Find Them right around the corner, it's clear the Potterverse is as unkillable as Voldemort.

Business

Brother of Syrian boy pulled from Aleppo rubble dies in hospital

The older brother of a Syrian boy who was splashed across TV screens around the world after being injured during an air strike has died. Upsetting pictures of five-year-old Omran Daqneesh sitting in an ambulance covered in dust and bleeding from a gash on the side of his head shocked millions, but now the young boy must endure further tragedy.