The plan to restructure Saturday, February 12, 2011; 3:00 PM The Obama administration outlined its plan to phase out government support of the U.S. housing finance system - and wind down Fannie Mae and Freddie Mac.Â¶ The plan - a sharp change of course after a decades-long campaign to extend homeownership to more Americans - would shift more of the burden to the private sector. Underwriting standards for home loans would tighten. Borrowers could face higher rates and fees as well as bigger down payments.Â¶ Any steps that dial back government support too dramatically - making mortgages more expensive - could extend the housing decline and lock buyers out of the market. The blueprint emphasized the importance of rental options. Business New York Stock Exchange was near agreement to be acquired by Deutsche Borse in a $25 billion deal that would symbolize New York's fading role in global finance. J.P. Morgan will accept gold as collateral in some transactions, putting the metal on par with triple-A-rated Treasurys. Toyota electronics were absolved of fault by federal highway safety officials who said driver error was to blame for most accidents involving sudden acceleration issues. Pedals and floor mats were found to have contributed. LaHood: "Toyotas are safe to drive." Twitter's estimated valuations of as much as $10 billion raise speculation of a tech sector bubble. Twitter made $45 million in revenue in 2010. HSBC and Lloyds will begin reporting results on a quarterly basis, joining banks across Europe in a move toward greater transparency. Investment banks say that banks have overcharged them for currency trades. Nokia and Microsoft agreed to partner. The software giant's Windows Phone will be adapted as the operating system for Nokia's mobile phones. Nokia's stock dropped on the news. Hewlett-Packard outlined plans to sell a tablet computer and smartphones using Palm software after acquiring Palm last year for $1.2 billion. Chipotle, in a widening immigration investigation, let go hundreds of workers in Minnesota. Alliant and an EADS unit plan to partner to pitch a new 300-foot commercial space rocket, called Liberty. Initial test flight as soon as 2013. NFL offered hundreds of fans who went without seats at the Super Bowl tickets to the 2012 championship game. London and Toronto stock exchanges closed in on a deal to merge. Would create world's second-biggest mining- and resource-exchange in terms of value of companies traded, after NYSE Euronext. Apple is making a new iPad tablet with a built-in camera and a faster processor. Activision Blizzard disbanded the unit that created "Guitar Hero" and "Call of Duty: Black Ops." Game software sales in U.S. stores were off 8 percent in 2010. News Corp.'s Fox Broadcasting said it will drop affiliate stations that don't pay increased programming fees. Clearwire abandoned its retail strategy, which put it up against Sprint-Nextel. Will focus on expanding its network to provide fast wireless service. Borders, failing to find backers to refinance its debt, prepares to file for bankruptcy protection. Deals AOL agreed to buy Huffington Post for $315 million in a bid to gain readers and advertisers. Editor-in-chief Arianna Huffington will act as president and signed a multiyear contract. Pritzker family is expected to sell Triton Container International, a shipping container leasing firm. The $1 billion deal would mark the end of an era for the family, among the wealthiest in the country, which has been divesting its business interests since the death of its patriarch, Jay, in 1999. Ensco said it would buy Pride International. The $7.3 billion deal adds to the consolidation of the offshore oil-drilling industry. Danaher said it would acquire Beckman Coulter for $5.87 billion to expand its position in the diagnostics market. Encana of Canada and PetroChina struck a $5.4 billion deal to develop hard-to-reach natural-gas reserves. Earnings ArcelorMittal posted a $780 million loss. Said it expects U.S. demand for steel to climb 10 percent in 2011. Walt Disney reported a 54 percent leap in first-quarter earnings, boosted by ad rates and theme-park attendance. Cisco first-quarter profit dropped by 18 percent to $1.5 billion on low sales of network switches. Revenue climbed to $10.4 billion. AIG will book a $4.1 billion charge for 2010 on higher-than-expected claims estimates for its insurance policies sold in earlier years. Charge will wipe out much of the year's profit. Coca-Cola fourth-quarter revenue climbed 40 percent to $10.5 billion on global sales growth. It gained market share from Pepsico in North America. Sanofi-Aventis, the French drug giant in prolonged talks to acquire Genzyme, posted a 64 percent drop in fourth-quarter profit to 437 million euros. Whole Foods increased its outlook for the year on first-quarter earnings that rose 61 percent, to $88.7 million. Cash sales on houses in depressed markets are bolstering housing markets - a sign that people are betting prices are at or near the bottom. U.S. timber exports to China are on the rise, lifting an industry that has suffered with the housing market's decline. Inflation fears spread to emerging markets, and China raised interest rates for the third time in months. A drought threatening its wheat crop has raised concern about global food prices. In Washington, Bernanke worked to assure Republicans that inflation won't be allowed to take hold. Corn supplies were on track to fall to 15-year lows, pushing futures prices higher. Obama spoke to the U.S. Chamber of Commerce, pledged to end unneeded regulation and urged American businesses to "get in the game." U.S. expanded its insider-trading case, leveling criminal charges against two ex-hedge fund managers at SAC Capital. IRS unveiled a limited amnesty for people with secret foreign bank accounts, allowing them to avoid jail time by paying penalties. Obama proposed a $53 billion, six-year high-speed rail project. House Republicans proposed spending cuts to the EPA and high-speed rail. Compiled from The Washington Post and news services $40 billion U.S. trade gap in December The deficit widened, marking its largest percentage increase in a decade. Even so, the uptick in exports was on pace to reach the Obama administration's goal of doubling by 2015. Also, export and import levels hit two-year highs, suggesting the economy is rebounding.