UNITED STATES

Bankrupt telecom equipment maker Nortel Networks Corp (NRTLQ.PK) has sought court approval to sell certain assets of its Carrier voice over Internet protocol and application solutions business to Genband Inc for $282 million, court papers showed.

Glencore , the secretive Swiss commodities trader, took a step toward a public listing valuing it at more than $35 billion, as investors bought bonds that could give them a near 6 percent stake.

Sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, data showed on Wednesday, dealing a blow to the housing market's recovery.

Sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, data showed on Wednesday, dealing a blow to the housing market's recovery.

Wells Fargo & Co , the fourth-largest U.S. bank by assets, on Wednesday said it repaid the $25 billion government bailout it received during the financial crisis, after last week selling $12.25 billion in stock.

The Dow and the S&P 500 barely budged on Wednesday, as the indexes pulled back from early gains after data showed new home sales fell unexpectedly in November.

American Idol judge Simon Cowell has decided to quit the top-rated TV talent show when his contract ends in 2010, according to a report in British tabloid The Sun, which would deal a blow to the Fox network.

Ford Motor Co said on Wednesday that it expected to finalize the sale of Volvo to China's Geely in the first half of 2010 in a deal that underlines China's arrival as a major force in the global auto industry.

In a move seen as a precursor to an initial public offering for Glencore International AG, a group of institutional investors will invest about $2.2 billion into the Swiss commodity trader, the Wall Street Journal said, citing people familiar with the situation.

Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, but a surprise drop in new home sales was a reminder that the economic recovery would be bumpy.

Dear newspapers: Happy holidays. Love, Wall Street.

Canadian fertilizer maker Agrium Inc (AGU.TO), which is attempting a hostile takeover of rival CF Industries (CF.N), has won U.S. antitrust approval of the proposed transaction after agreeing to sell two plants, the Federal Trade Commission said on Wednesday.

Suffering from acute pancreatitis but not sure where to go? You may want to head to a hospital that handles a lot of similar cases.

New York City urged New York state on Wednesday to ban natural gas drilling in its watershed, adding unprecedented support to critics who consider the chemicals used to mine for shale gas as poisonous to drinking water.

Americans who were worried about the safety of the swine flu vaccine are still worried and it may not be easy to convince them to get themselves or their children vaccinated, researchers said on Tuesday.

The Dow industrials and the S&P 500 index turned negative after a report showed sales of newly built U.S. single-family homes unexpectedly fell to their lowest level in seven months in November, shaking confidence in recent signs of stabilization in the housing market.

Swiss food giant Nestle made misleading claims about the health benefits of some children's beverages, U.S. regulators said in letters released on Tuesday.

PHILADELPHIA - The boom in shale natural gas drilling has raised hopes the United States will be able to rely on the cleaner-burning fuel to meet future energy needs. But concerns about its impact on water quality could slow the industry's ability to tap this bountiful resource.

The boom in shale natural gas drilling has raised hopes the United States will be able to rely on the cleaner-burning fuel to meet future energy needs, but concerns about its impact on water quality could slow the industry's ability to tap this bountiful resource.

Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, data showed on Wednesday, boosting hopes of a self-sustaining economic recovery.

BP has discovered a leak in an oil pipeline from one well at the giant Prudhoe Bay field, the third pipeline leak reported by the oil major over the past month on Alaska's North Slope.