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BLOOMBERG NEWS

U.S. House approves housing rescue bill

WASHINGTON - Rescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing. The 272-152 vote reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.

Business

Hollinger Inc. to delist from the TSX next month

TORONTO - Shares of Hollinger Inc., the company formerly controlled by Conrad Black, will be delisted from the TSX next month for failure to meet listing requirements. Securities of the company, which have been halted on a cease trade order from the Ontario Securities Commission, will be removed from the TSX on Aug. 22. Hollinger was short of money it had decided against filing the audited annual financial statements required of publicly traded companies.

Beverages

Soft drink maker PepsiCo Q2 profit rises 9%

NEW YORK - PepsiCo Inc. says its profit rose nine per cent in the second quarter on strong international growth that was further boosted by the weak dollar. The company also said it would buy back an additional US$1 billion in shares this year, increasing its total share repurchase plan to $5.3 billion for 2008. Profit for the three-month period ending June 14 was $1.7 billion, or $1.05 a share, compared with $1.56 billion, or 94 cents a share, the same period last year.