U.S. construction spending. The Commerce Department said on Wednesday that construction spending increased 0.3% after being unchanged June. Economists polled by Reuters had forecast construction spending gaining 0.2%. Spending on private construction projects rose 0.3% after increasing 0.4% in June. Spending on residential projects increased 0.8% in June.
Chinese smartphone maker Xiaomi Corp (XIACF) overtook Apple Inc (AAPL) in the second quarter to become the world's No. 2 smartphone maker, market research firm Canalys said in a report on Thursday. Xiaomi (XIACF) took the second spot for the first time with 17% share of worldwide smartphone shipments, up 3% from the previous quarter, according to the research firm.
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