Ben Bernanke is urging lawmakers to balance their desire to cut deficits with policies that could help boost the weak economy in the short run.

Mining company Xstrata confirmed Thursday that it is in merger discussions with commodities trader Glencore International, a deal that would create an industry behemoth with around US$175 billion worth of revenues.

The economic woes faced by cities and towns in California offer an object lesson for Canada during the current controversy over the sustainability of Canada's pension plan.

Facebook Inc. confirmed widespread speculation Wednesday, saying that it has begun the process that will lead to selling shares to the public.

American Airlines wants to cut labor costs by 20 percent and eliminate 12,000 to 14,000 jobs at the third-biggest airline in the U.S.