Business Highlights

WASHINGTON — Consumers are being asked to return 526,000 laptop batteries made by Sony Corp. because they could catch fire, the latest in a record-setting recall involving nearly 7 million computers.

IBM Corp. and Lenovo Group, the world’s third largest computer maker, were seeking the recall of rechargeable, lithium-ion batteries purchased with ThinkPad computers. A laptop caught fire at Los Angeles International Airport this month.

It is the fourth recall in recent weeks involving Sony laptop batteries. In August, Dell asked customers to return 4.1 million batteries and Apple recalled 1.8 million batteries worldwide, warning they could catch fire. Last week, Toshiba said it was recalling 340,000 laptop batteries due to a problem that caused the laptops to run out of power.

In all, it is largest electronic-related recall involving the Consumer Product Safety Commission. The agency said there have been only 47 reports of battery catching fire.

"While the risk may be real, it is very small,” said Julie Vallese, a commission spokeswoman.

Drop in fuel prices foreshadows cheaper heating bills this winter

WASHINGTON — After years of relentlessly rising heating bills, homeowners are likely to find some relief this winter. Supplies are plentiful, and prices are falling for natural gas, heating oil and propane.

The cost of natural gas on wholesale markets is about half of what it was last January because of high inventories and the anticipation of record amounts in storage by the time the heating season begins in November.

"There is good news for consumers going into this winter. For the first time in four years we’re seeing downward pressure on prices,” Chris Conway, chairman of the Natural Gas Supply Association, said at a news conference Thursday.

The trade group represents natural gas producers. Gas is the most widely used source of fuel for residential heating in the country especially across the Midwest.

Fuel oil, which is used heavily in the Northeast, also has seen dramatic price cuts in recent weeks as crude oil prices have declined and inventories of the fuel have increased. Propane prices also have dropped amid substantial supplies, according to the Energy Department. But government analysts and industry executives cautioned that weather remains an unknown. If the winter turns unusually cold, heating prices again could jump.

30-year mortgage rates fall to lowest level in more than six months

WASHINGTON — Rates on 30-year mortgages dipped this week to the lowest level in more than six months.

Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages fell to 6.31 percent this week, down from 6.40 percent last week.

The latest drop puts the 30-year mortgage at the lowest level since it stood at 6.24 percent in early March.

After hitting a four-year high of 6.80 percent on July 20, rates on 30-year mortgages have been trending down as financial markets became more convinced that a slowing economy will help keep inflation contained.

Such a slowdown would allow the Federal Reserve to keep interest rates on hold. Fed officials announced last week that they were leaving a key interest rate unchanged for the second straight month.

Sharp declines this year in home sales and construction of new homes have provided support for the view that the economy is slowing to a more sustainable pace and eased worries about inflation.

Many analysts believe interest rates will hover around current levels for the rest of the year. Such a development is expected to help the housing industry level off after sharp declines in recent months which have seen construction of new homes fall to the lowest levels in more than three years and both new and existing homes experience price drops when compared to sales prices a year ago.<