IBT Staff Reporter

U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.

U.S. wholesale inventories unexpectedly fell in January, while sales rose much faster than expected to their highest level since October 2008, a government report showed on Wednesday.

Fertilizer producer Terra Industries Inc told proposed merger partner Yara International to improve its takeover bid, saying an offer from CF Industries Holdings Inc is superior.

Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt-strapped neighbor, sources close to the discussions said.

Venezuela's deepening electricity crisis may drag on the economy for several years, dashing government hopes for GDP growth, slashing fuel exports from the OPEC country, and ushering in lengthy rationing.

Venezuela's worsening electricity crisis, caused in part by a drought linked to the El Nino climate phenomenon, puts its $300 billion economy at risk of contraction and may cut the OPEC country's oil product exports.

Munich Re sees star investor Warren Buffett's stake in the reinsurer as evidence that he backs its long-term strategy aimed at creating stability, Munich Re's chief executive said on Wednesday.

An experimental approach that looks for the DNA leaking out from dead and dying cells may provide a route to a blood test for breast cancer.

People sensitive to the taste of fat tend to eat less of it and are less likely to be overweight, according to Australian research that found human tongues can detect fatty tastes.

Shares in Citigroup Inc , one of the big financial companies bailed out by the U.S. government, rose more than 4 percent on Wednesday, while another, American International Group Inc , jumped 10 percent.

Healthy Americans who donated a kidney were not at higher risk of dying afterward, which may reassure potential donors and help shorten the long waiting list for an organ.

The stock market edged higher on Wednesday as stocks in the transportation and financial sectors made significant gains.

In September 2008, as Lehman Brothers was breaking into a million pieces, a young investment bank was pushing up through the rubble.

A city with a distinct architectural style has a certain draw to travelers. Great architecture is both artistic and scientific, both beautiful and practical. Even more, architecture gives us cultural clues about a city's past, present and future.

Shareholders may have to wait for months to retrieve capital after U.S. regulators told banks not to increase dividends or buy back shares amid political and economic uncertainty surrounding the financial industry, the Financial Times reported on Wednesday.

President Hugo Chavez is confident that God and nature will pull Venezuela out of a power crisis battering both the economy and his popularity.

U.S. stocks drifted higher on Wednesday following several merger and acquisition deals, overshadowing an unexpected drop in January wholesale inventories.

After a growth spurt at the end of 2009, the U.S. economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed.

A dark corner of corporate America is being thrust into the harsh glare of disclosure.

U.S. safety regulators and Toyota dispatched teams on Tuesday to inspect a Prius that sped out of control on a California freeway a day earlier, as the automaker struggled to reassure consumers shaken by its recall crisis.

After a growth spurt at the end of 2009, the U.S. economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed.

Ministry of Power and Tehri Hydro Development Corporation Ltd - THDC India Ltd has signed a memorandum of understanding (MoU) defining the performance guarantee parameters for the FY 2010-11. An energy generation target of 3000 MU (Million Units) has been set for the year 2010-11 for the company. THDC India Limited shall expedite the works of Koteshwar H.E. Project (400 MW), Tehri Pumped Storage Plant PSP (1000 MW) and Vishnugad Pipalkoti Project (444MW).

Personal-care products maker Helen of Troy Ltd said it agreed to buy the Pert Plus hair care and Sure anti-perspirant and deodorant brands from Innovative Brands LLC.

U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.

Fred Hu is stepping down as a partner of Goldman Sachs, according to an internal memo, as sources said he plans to launch a new private equity fund.

World's largest rice exporter, Thailand's exports of rice and other foods are expected to rise this year by five to ten percent, according to country's Commerce Ministry. The ministry, in a statement said food exports in particular would recover to growth of as much as 10% after dropping by 7.37% in 2009 to $19.56 billion, mainly because of the global recession.

Novartis has taken an exclusive option to develop Transgene's cancer vaccine TG4010, but the deal fell short of investors' hopes, pulling the shares in the French biotechnology company down 12 percent.

A leading mutual fund in India has announced the launch of a unique gold savings fund which the company says will boost gold investment in exchanged traded funds (ETFs) the country. Quantum Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Quantum Gold Savings Fund, an open ended fund of fund scheme. The new fund offer (NFO) price for the scheme will be Rs 10 per unit.

Lone Star plans to resume selling a $3.9 billion majority stake in Korea Exchange Bank, KEB said, in what would rank as South Korea's biggest banking deal to date.