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According to US Federal Reserve Chairman Ben S Bernanke, the economic system of the country was continuing to flourish in a moderate manner owing to stimulative monetary as well as fiscal plans, however, jobs and the housing market remained troublesome.

Testifying before the US Senate Banking Committee in his semi-annual assessment of the economic situation, Bernanke noted a "slow recovery" in the job market, which was in turn impacting on a "weak" housing market.

According to recent reports, popular social networking site Facebook now has 500 million users.

The landmark means that Facebook presently covered around 8% of the planet's residents, just 18 months after it hit the 150 million user mark.

In June 2010, Facebook founder and CEO Mark Zuckerberg announced that there is a "good chance" that the social networking site could possess one billion users by the next 3-5 years.

It has been few months since the war at the luxury car segment entered the next lap after BMW dethroned Mercedes to become the largest selling luxury carmaker in India but the race is now in the financing segment of the Indian luxury car market.

While the aim is to make the cars much more affordable to the Indian consumers, both the top players in the Indian luxury car market have now decided to think out of the box rather than offering vanilla discounts to the consumer.

Mahindra 2Wheelers, part of the $7.1 billion (around Rs 33,370 crore) Mahindra Group has recently announced that the company is aiming to double its unit sale sin this fiscal.

While the company has been able to establish its brand name in the scooters segment with products like Duro and Rodeo, the company is expected to close this fiscal with close to 10% market share which will be up from its current market share of 6-7%.

The Bombay Stock Exchange Sensex increased by a hundred points today, which, after a three-day fall, closed at a 30-month high in metal, realty and auto stocks. Following the high, the National Stock Exchange index Nifty also increased to 5,399.35 points which is 31.35 points higher.

Reliance Industries, the current leader in the market, also saw an increase in its shares by Rs. 5.35 and settling at Rs. 1,058.25. Following this is the second in line Infosys Technologies which also rose by Rs. 7.95 to Rs. 2,765.55.

Leading Private-sector lender Yes Bank has announced its financial results for the first quarter of the fiscal year 2010. As per the report, there has been a striking net profit rise for the bank in this period of time.

Yes Bank has posted a net profit of Rs 156 crore for the quarter that ended in 30th June, 2010 as compared to Rs 100 crore of the like periods of the previous quarter.

This net profit figure has grown up by 56% in this quarter under review against the corresponding quarter in the last fiscal.