The travails of two Michigan companies illustrate the tough choices their community bank must make.

Phillips-Van Heusen agreed to buy Tommy Hilfiger from Apax Partners for about $3 billion.

The Wells Fargo unit is in talks with the Justice Department to settle U.S. allegations that a failure in bank controls enabled Mexican exchange houses to launder drug money.

The battle over rewriting the rules of Wall Street resumes Monday as Sen. Christopher Dodd plans to introduce legislation that is tougher on financial companies than was expected a few weeks ago.

AIG plans to hold back $21 million in bonus payments to former employees, a move that could set the stage for more battles over employment agreements.

Fashion retail chain French Connection plans to further slim down its operations by selling the Nicole Farhi brand and closing down many U.S. stores.

The battle over U.S. sugar quotas is flaring once more as the gap between domestic and much-lower global prices reaches its widest level in at least a decade.

An investigation of the Toyota Prius involved in a dramatic incident on a California highway last week is raising questions about the driver's version of the event.

Digital-marketing companies are moving to blend information about consumers' Web-surfing behavior with personal data available offline to make it easier for online advertisers to reach their target audiences.

The emirate's secretive Investment Authority, in its first annual review, reported an annualized return of 6.5% a year over the last 20 years.

U.K. luxury brand Liberty said it has sealed a $63.01 million sale and lease-back deal on its flagship central London department store to clear its debt.

The U.S. Web giant appears increasingly likely to shutter its Chinese-language search engine, a step that would remove one of the last major foreign players from the world's largest Internet market.

The riskier end of the U.S. stock market is back in favor. That includes small stocks, stocks badly hurt by the financial crisis and those most dependent on global economic growth.

UBS's top management said it was confident of turning around its business to achieve its medium-term profit target as the Swiss bank's business revamp was boosted by a solid start to 2010.

Chief executive delivers his first policy address Tuesday and will probably discuss the government's aim of pacing gambling industry growth and developing revenue off the casino floors.

Chinese computer maker Lenovo is looking for acquisition opportunities in China's mobile Internet sector, the global consumer computer market and developing regions.

An investigation of the Toyota Prius that was involved in a dramatic incident on a California highway last week found a particular pattern of wear on the car's brakes that raises questions about the driver's version of the event.

Sales of a new motorcycle designed and engineered by Austria's KTM Power Sports and to be built by India's Bajaj Auto could be almost four times greater than those of KTM's entire current model range, underscoring the importance of emerging markets to its future.

China's Cnooc said it is paying $3.1 billion for a 50% stake in a unit of Argentina's Bridas Energy to form a joint venture in move to boost its production and reserves.

Chinese battery and car maker BYD plans to boost capital spending by 59% in 2010 to expand its automobile production amid robust domestic demand.

Bank of America plans to seek approval from China to expand its operations in the fast-growing country and is discussing the need to incorporate locally. The Charlotte. N.C. bank lags many rivals there.

The central issue dividing the airline industry and Congressional leaders: a proposal headed for a Senate vote as early as this week that calls for airlines to spend their own money to equip planes with upgraded navigation systems.

Saudi Arabia revoked the securities-business license of Ernst & Young because of "several violations" of the kingdom's capital market law and implementing regulations.

China's product-quality agency said it is looking into complaints from Chinese consumers about Hewlett-Packard's handling of flaws in some of its personal computers.

Japanese car and power companies will work together to bring their electric vehicle-charging technology to overseas markets, a new industry association announced.

Roche's recent drug-trial failures are raising pressure on the Swiss company as it seeks to become a powerhouse after its takeover of biotech firm Genentech.

As OPEC prepares to meet for the first time in three months, a debate is brewing within the 12-nation oil cartel over what its post-recession production might look like.

In the wake of Coca-Cola and PepsiCo's acquisitions of their biggest bottlers, some smaller bottlers are concerned about having to match price promotions.

A study found that Novartis's blockbuster blood-pressure drug Diovan modestly lowered the incidence of diabetes in certain patients, but another Novartis drug failed to do so, and neither drug reduced the risk of heart attacks in these patients.

Abbott's cholesterol drug TriCor failed to significantly reduce the risk of heart attacks and strokes among diabetics in a large government-sponsored study, reinforcing doubts about the drug's usefulness despite its popularity.