The Canadian Press – WASHINGTON – U.S. federal bank regulators on Wednesday defended their actions leading up to the collapse of Lehman Brothers and the purchase of Wachovia at the height of the financial crisis before members of an inquiry panel who criticized government oversight of the banks.

The Canadian Press – DETROIT – American auto sales, once a bright spot in the economic recovery, stalled last month as the nation’s largest car company reported falling sales.

The Canadian Press – NEW YORK, N.Y. – Mortgage applications in the United States rose 2.7 per cent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.

Reuters – LONDON/BEIJING (Reuters) – Surging domestic demand helped manufacturing growth in China and Russia pick up speed in August, while U.S. manufacturing grew faster than expected, but data showed the recovery slowing in European factories.

The Canadian Press – PEORIA, Ill. – Caterpillar Inc. plans to spend about US$180 million to expand its manufacturing capacity in Brazil and meet growing demand in Latin America.

The Canadian Press – FREMONT, Neb. – Pinnacle Bank says it is buying American National Bank of Fremont, Neb.