Federal Reserve Chairman Ben Bernanke says pessimists forecasting that the economy will not reap sizable benefits from the computer revolution are likely to be proven wrong.

U.S. stocks closed out another week of new record highs Friday as investors focused on the positive side of mixed economic news and corporate earnings.

U.S. consumer sentiment rebounded in early May to the highest level in nearly six years, an encouraging sign after recent data that has suggested economic growth is cooling.

The outgoing head of the Internal Revenue Service apologized on Friday for “foolish mistakes” made at the U.S. tax agency which he said resulted from a heavy workload, not a partisan mission.

A rule intended to loosen the largest U.S. banks' control over the trading of complex investments and help safeguard the financial system was weakened Thursday by regulators.

A sharp fall in the cost of gas drove a measure of U.S. consumer prices down last month by the most since December 2008. Outside the drop in fuel costs, prices were largely unchanged.

A tax deal between the British government and Goldman Sachs worth up to 20 million pounds (US$30 million) to the U.S. bank was lawful but “not a glorious episode” for the tax authority, a judge ruled on Thursday.

U.S. builders broke ground on far fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But applications for new construction reached a five-year peak, evidence that the housing revival will be sustained.

Australian Treasurer Wayne Swan made a values pitch to voters Tuesday as he unveiled an AU$43 billion (US$43 billion) austerity drive in a budget without election-year trimmings.

U.S. retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the economy.