A House committee voted Wednesday to give the government extraordinary new power to break up large financial companies that pose a risk to the economy.

Private equity firms will need to become more like asset managers, offering buyouts as just part of their portfolio, or else focus tightly on specific sectors in order to prosper, industry participants said.

California is putting big-screen televisions on a diet. Starting in 13 months, new TV sets will have to meet energy efficiency standards that slash the amount of electricity they consume.

France has for decades been fiercely proud of its world-beating nuclear industry but is now having to import electricity from its neighbors and could face blackouts this winter.

The U.S., China and other major economies may more than double stimulus spending on clean energy next year after holding back most of the money promised for projects, an analyst said.

The nation's largest producer of corn-based ethanol said it has slashed the cost of producing cellulosic ethanol from corn cobs and that it will be able to compete with gasoline in two years.

Switzerland proposed on Wednesday tighter rules to define the "Swiss-made" label as it seeks to protect the country's reputation for quality goods from watches to cheese and penknives.

Wells Fargo & Co. has agreed to buy back US$1.4 billion in securities it sold to thousands of customers, including charities and small businesses, as part of a settlement in a state fraud lawsuit over its role in an investment meltdown.

Global ratings agency Moody's on Wednesday downgraded Swiss banking giant UBS's financial strength, and long-term debt and deposit ratings, citing loss of customer confidence and key employees.

The European Union says 6 million more people in the bloc signed up to broadband Internet access over the last year.