News Today - Aug 05

* Household Incomes in U.S. Weaken, Threatening Consumer Spending Recovery Household income in the U.S. is weakening as the influence of the government’s stimulus plan fades, prompting economists, Federal Reserve officials and a Nobel laureate to warn that consumer spending may stumble.

* Pending Sales of Existing Homes in U.S. Surge 3.6%, More Than Estimated The number of contracts to buy previously owned homes in the U.S. rose in June for a fifth straight month and exceeded economists’ forecasts, as lower prices and mortgage rates attracted buyers.

* Consumer Bankruptcy Filings Reach Highest Level Since 2005, Institute Says Consumer bankruptcy filings in the U.S. rose to the highest level since October 2005, the American Bankruptcy Institute said in a statement.

* U.K. Consumer Confidence Rises to Highest in a Year as House Prices Climb U.K. consumer confidence rose to the highest level in more than a year last month as house prices stopped falling, Nationwide Building Society said.

* Toyota the world's largest auto maker by sales posts a smaller-than-expected loss of $818 million and hikes its full-year forecast.

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