COMPANIES

Mortgage activity rose last week to the highest level in about two months, mainly from borrowers locking in low mortgage rates by refinancing, the Mortgage Bankers Association said on Wednesday.

U.S. foreclosure activity fell in November for the fourth month running, but improvement from July's record high came from loan modification programs that may fail to permanently remedy many failing mortgages, real estate data company RealyTrac said on Thursday.

U.S. appeals judges on Wednesday questioned whether a California trial judge went overboard by awarding MGA Entertainment Inc's Bratz doll franchise to Mattel Inc after MGA lost a copyright infringement trial to its rival in 2008.

Rupert Murdoch, the Chairman and Chief Executive of News Corp., believes that U.S. funding for the distressed newspaper industry would be a detriment to freedom of speech.

Canadian Western Bank (CWB.TO), which said in September it plans to double in size in coming years, said on Wednesday it agreed to buy commercial equipment lessor National Leasing Group in a cash and stock deal worth C$130 million ($123 million).

The bankruptcy of General Growth Properties (GGWPQ.PK) has created a once-in-a-lifetime opportunity for suitors, but as they circle the No. 2 U.S. mall owner they are likely to find consummating a deal is not easy.

When Ned Hooper joined Cisco Systems Inc (CSCO.O) after the company he worked for was bought by the U.S. network equipment giant, he didn't think he would stay beyond an initial two-year commitment.

Sempra Energy (SRE.N) may join Royal Bank of Scotland Group Plc (RBS.L) in selling off their entire joint commodities business, offering quick entry into a lucrative market with a diverse, global trading book.

Grupo Mexico SAB de CV (GMEXICOB.MX) said on Wednesday it completed its deal to regain control of U.S. copper miner Asarco LLC, bringing to an end Asarco's four-year bankruptcy.

Demand for executive talent at Wall Street firms has rebounded strongly, and the coming bonus season may see an exodus to overseas rivals that have no limits on pay, the CEO of the world's largest executive search firm, Korn/Ferry International Inc (KFY.N), said

Steady economic and regulatory headwinds are expected to curb the issuance of consumer debt securitizations in 2010, even after this year's revival in the U.S. asset-backed market.

A lawyer for the U.S. Treasury department said Wednesday that the U.S. will lose $30 billion of the $82 billion bailout investment it made in the auto industry.

The U.S. Justice Department sought to assure lawmakers on Wednesday that prosecutors are rooting out mortgage and corporate fraud after Wall Street's meltdown wiped out trillions of dollars in investments and laid bare the gaps in regulation.

Citigroup upgraded No. 3 U.S. mobile service Sprint Nextel Corp to a buy rating citing a possible tie-up with Deutsche Telekom AG and expectations of improvement in subscriber numbers.

EU regulators are optimistic about achieving a satisfactory result from their review of U.S. software company Oracle Corp's (ORCL.O) plan to buy Sun Microsystems Inc (JAVA.O) despite competition concerns, Europe's antitrust chief said.

Once driven by their desire for an up-front profit, wealth advisers have been selling their firms out of fear they may not survive the economic downturn, an industry study released Wednesday said.

Shares in India's largest vehicle maker, Tata Motors Ltd, have more than quadrupled this year riding a pick-up in sales on the back of a recovering economy.

Shares in India's largest vehicle maker, Tata Motors Ltd, have more than quadrupled this year riding a pick-up in sales on the back of a recovering economy.

German conglomerate Siemens, the world's market leader in offshore wind turbines, is aiming to become one of the top three suppliers to the wind power market by 2012, the head of its Wind Power unit said.

Shares of Pebblebrook Hotel Trust held steady in their debut on the New York Stock Exchange, trading up only 10 cents from Tuesday's initial public offering price of $20.

Germany's Volkswagen AG will buy a one-fifth stake in Suzuki Motor Corp for $2.5 billion, tapping the Japanese firm's expertise in small cars and dominance in India as VW seeks to become the No.1 automaker.

Dubai's Emaar Properties EMAR.DU on Wednesday said it would not merge with Dubai Holding's property units, a move analysts said protected the developer from Dubai Holdings' vulnerable debt position.

Semiconductor gear maker Photronics Inc forecast first-quarter revenue below Wall Street expectations, sending shares down as much as 19 percent.

Haifa Chemicals and Citi (C.N) said on Wednesday they had agreed to sell certified emission reduction (CER) credits after the Israeli company acquired new technology to cut its greenhouse gases.

Fears that Dubai's debt problems are not limited to troubled state conglomerate Dubai World battered investor confidence in the world's top oil-exporting region and sent shares across the Gulf tumbling on Wednesday.

Canada's Alamos Gold Inc has agreed to buy two gold projects in Turkey from Fronteer Development Group Inc and Teck Resources Ltd in a cash-and-stock deal worth about $85 million.

Concern over debts at Dubai's utility provider and losses at Nakheel, builder of the emirate's palm-shaped islands, hit markets on Wednesday, drowning out assurances by top officials that Gulf economies were sound.

Germany's Volkswagen AG will buy a one-fifth stake in Suzuki Motor Corp for $2.5 billion, tapping the Japanese firm's expertise in small cars and dominance in India as VW seeks to become the No.1 automaker.

GlaxoSmithKline has started a second large-scale clinical trial with experimental heart drug darapladib, increasing its investment in the new type of medicine for clogged arteries.