President Barack Obama proposed the gradual elimination of Fannie Mae and Freddie Mac to speed up recovery in the housing sector.

Shares of Sony Corp fell 3% after it said no to the proposal of Daniel Loeb to sell one-fifth of its entertainment business.

Economists warned that while the economic reforms of President Enrique Pena Nieto are crucial to increasing wages, Mexicans would have to wait before impact would be felt.

According to the White House, US President Barack Obama met with tech executives along with transparency advocates to deliberate on the government's surveillance programs.

Kenyan President Uhuru Kenyatta revealed that his government will be constructing a temporary terminal that will hold 2.5 million passengers.

Zachary Karabell asked if it really matters who the next chairman of the Federal Reserve will be. Zachary Karabell of Reuters posed the question, "Does it really matter who the next chair of the Federal Reserve is?" The query came as President Obama looks for Chairman Ben Bernanke's successor.

Billionaire Elon Musk would receive US$4.3 million in share-based pay for his recent work on Tesla's Model X sport-utility vehicle.

Encrypted email platforms Lavabit and Silent Circle shut their services down after refusing to cooperate with the US government on data surveillance.

Tesla Motor Inc. rallied 14% after posting its second quarter earnings report which helped the fortune of Elon Musk to rocket by US$570 million yesterday.

Tumblr founder David Karp gets US$110 million to remain in the company for the next four years. On Thursday, a regulatory filing revealed a US$110 million retention payment of Yahoo to David Karp, Tumblr's founder.