Home prices have risen for a second consecutive month for the first time since the summer of 2010, but much of this is a consequence of the falling percentage of distressed sales, while prices are still more than 31% of their peaks and may take years to recover.

FORBES: What Housing Recovery? Distressed Sales Still High, Shadow Inventory Massive

In regard to his league's future direction, Modi said the first hurdle was to consolidate the competition's place in the calendar and denied that plans for a second season within the same 12-month period, at the end of the summer, were close to fruition.

BBC: England stars 'want India chance'

For Davies, who won the SAS Masters in Norway last month, it was a sixth second place in Europe this summer and means she has bolstered her hopes of clinching a record seventh New Star Order of Merit title.

BBC: SPORT | Golf | Gustafson holds off Davies to win