IBT Staff Reporter

U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday.

Mitsubishi UFJ Financial Group Inc and Morgan Stanley are set to announce this week a merger of their securities businesses in Japan, a source said, creating a new powerhouse to rival industry leaders Nomura Holdings and Daiwa Securities Group .

Australian motorists are being encouraged to vent their anger on the Internet, and not on each other, via a new website that aims to make roads safer.

Ford Motor Co Chief Executive Alan Mulally's total compensation fell 37 percent to $13.6 million last year and he received no bonus -- but he won't have to fly commercial.

Hearst Corp's Houston Chronicle is cutting 12 percent of its staff to cope with falling revenue, the Wall Street Journal said on Tuesday.

A new videogame company is aiming to challenge the big three console makers by providing a cloud-based gaming system promising on-demand access to games and no lag time.

Hearst Corp's Houston Chronicle is cutting 12 percent of its staff to cope with falling revenue, the Wall Street Journal said on Tuesday.

U.S. stock index futures pointed to a higher opening on Wall Street on Wednesday, after investors booked profits on Tuesday amid questions whether the U.S. government's plan to clean up bank balance sheets would work.

The euro slipped against the dollar on Wednesday after a closely-watched survey showed German corporate sentiment fell to a record low, while world stocks inched up after hitting a 5-1/2 week high the previous day.

FedEx Corp is threatening to cancel the purchase of billions of dollars worth of new Boeing Co cargo planes if Congress passes a law that would make it easier for unions to organize at the package-delivery company, the Wall Street Journal said.

Eight percent of international call traffic in 2008 used Internet calling company Skype, an increase of 41 percent on a year earlier, according to data from communications research firm TeleGeography released on Tuesday.

Asian shares put in a mixed performance on Wednesday as a sharp rally in stock markets this week over a U.S. plan to deal with toxic debt ran out of steam.

Australia's competition watchdog cleared Rio Tinto Ltd's $19.5 billion tie-up with China's state-owned Chinalco, rejecting at least one key argument against a deal, which still needs the treasurer's approval.

New orders for U.S.-made durable goods likely fell in February aided by a sharp decline in civilian aircraft orders, according to a Reuters poll

Japanese robots are helping hayfever suffers get through the allergy minefield that is spring by measuring the amount of pollen in the air and then warning about its severity.

Ronald Reagan was known as the great communicator. George W. Bush was the self-styled decider. President Barack Obama could easily be called the salesman-in-chief.

Blockbuster Inc plans to let TiVo Inc subscribers download movies to their home televisions from its online movie library, in the latest deal aimed at broadening the brand to computers and other gadgets.

U.S. President Barack Obama and his top two economic officials on Tuesday dismissed suggestions by emerging economic powers that the world move away from using the dollar as the world's main reserve currency.

A sharp drop in U.S. drilling spurred by low oil prices, scarce funding and potential tax hikes may thwart the Obama administration's plans to end U.S. reliance on foreign oil.

The long-awaited U.S. government plan to rid banks of money-losing assets has injected some desperately needed optimism into Wall Street after stocks hit 12-year lows earlier this month.

T-Mobile USA plans to double its high-speed wireless network coverage to reach a potential 200 million wireless users by the end of 2009 as it looks to catch up with rival services.

Spice Group, a suitor for Satyam Computer Services , may withdraw from the race to buy the fraud-hit Indian outsourcing firm due to a lack of desired transparency in the bidding process, its chairman said on Wednesday.

The Obama administration on Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts.

China rejected Coca-Cola's bid to buy top local juice maker Huiyuan because it feared the U.S. multinational could abuse its position across the whole soft drinks market, an official said in remarks published on Wednesday.

A new video game company is aiming to challenge the big three console makers by providing a cloud-based gaming system promising on-demand access to games and no lag time.

U.S. Internet users viewed 13.1 billion online videos in February, down 12 percent from January, although viewing on Hulu grew 42 percent in the period, research firm comScore said on Tuesday.

The Obama administration on Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts.

Mitsubishi UFJ Financial Group Inc is likely to take a 60 percent interest in the venture it is forming with Morgan Stanley to merge their brokerage subsidiaries in Japan, the Nikkei business daily said on Wednesday.

Mitsubishi UFJ Financial Group Inc is likely to take a 60 percent interest in the venture it is forming with Morgan Stanley to merge their brokerage subsidiaries in Japan, the Nikkei business daily said on Wednesday.