Mitsubishi Chemical Holdings Corp., Japan's biggest chemical maker, agreed to buy Mitsubishi Rayon Co. for as much as 217 billion yen (US$2.43 billion) to reunite with the synthetic-fiber maker almost 60 years after they split.

The Obama administration is poised to extend the life of the highly unpopular US$700 billion financial bailout, and, to display a commitment to fiscal responsibility, is planning to use much of the leftover funds to reduce the national debt, government sources said.

Despite the lowest mortgage rates since May, applications for loans to finance home purchases fell again last week, the Mortgage Bankers Association said Wednesday.

The budding economic recovery isn't getting much help from the home-building industry, which normally creates jobs and drives growth when a recession ends.

Almost a quarter of U.S. employers say morale among workers at their companies is low, according to a survey released on Tuesday.

France risks attracting the ire of its European neighbors when it unveils plans to raise tens of billions of euros in new borrowing just as its EU partners are being urged to begin reining in the stimulus packages that caused deficits and debts to skyrocket.

A House committee voted Wednesday to give the government extraordinary new power to break up large financial companies that pose a risk to the economy.

Private equity firms will need to become more like asset managers, offering buyouts as just part of their portfolio, or else focus tightly on specific sectors in order to prosper, industry participants said.

California is putting big-screen televisions on a diet. Starting in 13 months, new TV sets will have to meet energy efficiency standards that slash the amount of electricity they consume.

France has for decades been fiercely proud of its world-beating nuclear industry but is now having to import electricity from its neighbors and could face blackouts this winter.