Some established firms have collapsed outright, others are laying off by the hundreds, and others still are seeking mergers with larger firms to try and weather the storm.

Norway tops a league of countries in closing the gender gap, according to the World Economic Forum

Credit card firm American Express gains approval to become a commercial bank, enabling it to take deposits.

Reuters - Asian shares fell for a second day on Wednesday and oil prices slipped back near a 20-month low as poor corporate earnings highlighted the damage from the global economic slowdown on companies and consumers.

Troubled German lender Hypo Real Estate announces heavy losses of 3.1bn euros for the third quarter.

A rise in UK unemployment expected in official figures later could take the jobless total to its highest level for a decade.

Supermarket group Sainsbury's reports a 13% rise in half-yearly profits despite the worsening economic conditions.

Reuters - Asian shares fell for a second day on Wednesday and oil prices hovered near a 20-month low as poor corporate earnings highlighted the damage from the global economic slowdown on companies and consumers.

Reuters - American Express Co , the No. 4 U.S. credit card issuer, is seeking about $3.5 billion in tax-payer funded capital from the U.S. government, the Wall Street Journal said, citing people familiar with the situation.

The Dutch financial services company ING reported its first quarterly loss as it wrote down the value of investments scorched in the credit crisis.

Oil prices have fallen to the lowest levels since the beginning of 2007 due to worries about weakening energy demand.

Dutch banking giant ING reports its first quarterly loss - 585m euros - for the three months to the end of September.

The number of jobless people in the UK jumps by 140,000 in the quarter to September to 1.82 million - the worst in 11 years.

The UK's second biggest energy company says it is 'optimistic' that domestic prices could be cut early in 2009.

Reuters - European stocks recovered some ground on Wednesday after steep losses in the previous session and the dollar dipped, but oil hovered near 20-month lows on ongoing worries about a slowdown in global demand.

Reuters - Swiss Life warned on profits and cut its dividend, while Dutch financial group ING posted its first quarterly loss, as the financial crisis bites into insurers' investment income and premiums.

House of Representatives Speaker and leading Democrat Nancy Pelosi calls for a bail-out of the US auto industry.

A top Pakistani official says Islamabad will approach the International Monetary Fund for a loan in the next 10 to 15 days.

The $700 billion economic rescue pool is evaporating after the plan set off a lobbying free-for-all.

European stocks struggled to move higher as Wall Street headed toward an uncertain open, with investors trying to assess the depth of the global economic slump.

The electronics retailer said that it was sharply cutting its outlook below analyst estimates amid what it called the toughest retail environment it has ever seen.

The company, which runs both its namesake department stores and the Bloomingdale?s chain, reported a quarterly loss of $44 million amid the expanding financial crisis.

The European Commission told bankrupt Alitalia airline to repay a 300m euro rescue loan to the Italian government.

Four car glass makers have been hit with the European Commission's highest cartel fine after 'cheating' car buyers.

The European Commission announces proposals for tougher regulation of credit rating agencies.

The pound has dropped against the dollar and the euro after the Bank of England dramatically revised its UK forecast.

Reuters - Best Buy Co Inc , the No. 1 U.S. electronics chain, slashed its fiscal 2009 profit forecast on Wednesday, driven by weak consumer spending heading into the crucial holiday selling season.

Reuters - Stocks tumbled on Wednesday as electronics chain Best Buy's lowered outlook heightened fears about a worsening economic slump, offsetting hopes for an auto industry bailout by Washington.

Reuters - The British economy will shrink sharply next year and inflation will tumble, the Bank of England predicted on Wednesday, suggesting that it will cut interest rates even below their current half-century low.

Reuters - Department store operator Macy's Inc reported a quarterly loss on Wednesday as shoppers curbed spending and avoided all but the most crucial of purchases amid an expanding financial crisis.

AP - Electronics retailer Best Buy Co. says it is sharply cutting its fiscal 2009 earnings outlook below analyst estimates amid what the company called the toughest retail environment it has ever seen.

Treasury Secretary Henry M. Paulson Jr. said that he was backing away from buying troubled mortgage assets in favor of a second round of capital injections into financial institutions.

Shares fell in early trading amid increasing evidence that consumers are sharply cutting back on spending.

Congressional leaders said they were ready to push for emergency assistance in a lame-duck session, setting up one last showdown.

The $700bn US bail-out package has already 'clearly helped stabilise' the financial system, says US Treasury Secretary Henry Paulson.

The pre-Budget report, which is expected to feature tax cut plans, will take place on Monday 24 November.

Reuters - Stocks extended losses on Wednesday after Treasury Secretary Henry Paulson said his department would consider capital needs of non-bank financial institutions, renewing concerns about the scope of problems in the U.S. economy.

Reuters - Macy's Inc reported a quarterly loss on Wednesday as shoppers curbed trips to the mall and avoided all but the most crucial of purchases as the economic crisis deepens, but the department store operator beat Wall Street estimates, sending its shares up 3 percent.

Reuters - Oil fell almost 4 percent to nearly $57 a barrel on Wednesday, its lowest for 20 months, on expectations of weaker energy demand and as global stock markets headed downwards.

A senior Swiss executive at UBS was indicted in the Justice Department?s widening criminal investigation of the bank and its offshore private-banking services for wealthy American clients.

The Dutch financial services company ING reported its first quarterly loss as it wrote down the value of investments scorched in the credit crisis.

The company, which runs both its namesake department stores and the Bloomingdale?s chain, reported a quarterly loss of $44 million amid the expanding financial crisis.

Department store group Macy's and electronics chain Best Buy give the latest sign that US shoppers are spending much less.

Reuters - Stocks slid on Wednesday after the United States backed away from using the $700 billion bailout fund to buy troubled mortgage assets, adding to investors' worries about consumer spending.

Reuters - Best Buy Co Inc , the No. 1 U.S. electronics chain, slashed its profit forecast on Wednesday, the latest sign that the deepening economic crisis may bring a bleak holiday season, sending the company's shares down 7 percent.

Reuters - Anheuser-Busch Cos Inc shareholders on Wednesday approved a proposed $52 billion takeover by Belgian rival InBev NV .

Reuters - The Federal Reserve is prepared to take additional steps to stabilize malfunctioning financial markets and support a faltering U.S. economy, Fed Vice Chairman Donald Kohn said on Wednesday.

AFP - Devastating profit results worldwide and more grim news on Wednesday that Germany and Britain are facing recession raised pressure on world leaders ahead of an economic crisis summit this weekend.

At a hearing, legislators encouraged the financial industry to alter the terms of more mortgages.

Shares on Wall Street fell more than 4 percent as worried investors wondered about the depth and length of the recession.

The company said that it would cut 10 percent of the staff in its institutional securities group and 9 percent of its asset-management group.

LG, Sharp and Chunghwa Picture Tubes agreed on Wednesday to cooperate in an antitrust investigation being run by the Justice Department.

The European Union fined four car glass producers more than $1.66 billion, the largest sum it has ever levied for a cartel.

The $6 billion bailout of Iceland appeared to be on hold amid haggling over how the country would compensate overseas customers who lost deposits in failed Icelandic banks.

The European Commission fines four car glass companies more than 1.3bn euros for running a cartel - its largest such fine.

Reuters - Stocks tumbled on Wednesday after the country's top electronics retailer warned the current business climate was the worst in 40 years, adding to recent economic gloom.

Reuters - Massachusetts Democratic Rep. Barney Frank said his committee will hold a hearing next week to consider a bill to provide $25 billion in federal loans to U.S. auto manufacturers.

Reuters - Oil fell 5 percent to $56 a barrel on Wednesday as the U.S. government hacked its global demand growth forecast again due to the slumping global economy.

Shares fell more than 4 percent as investors wondered about the depth and length of the recession.

LG, Sharp and Chunghwa Picture Tubes agreed on Wednesday to cooperate in an antitrust investigation being run by the Justice Department.

The electronics retailer said that it was sharply cutting its outlook below analyst estimates amid what it called the toughest retail environment it has ever seen.

A major strike by Germany's largest industrial trade union is averted after a new 4.2% pay deal with employers.

How global travel chiefs hope to beat the downturn

Reuters - The Bush administration on Wednesday largely abandoned its plan to buy up toxic mortgage assets and said it will focus its $700 billion financial bailout fund on making direct investments in financial institutions and shoring up consumer credit markets.

Reuters - Stocks sank on Wednesday for the third day after the United States backed away from using its $700 billion bailout to mop up sour mortgages and added to uncertainty about how the government plans to revive bank lending.

Reuters - Applied Materials Inc , the No. 1 computer chip-equipment maker, posted a smaller-than-expected drop in quarterly profit and said it will slash 1,800 jobs, or 12 percent of its workforce to cut costs, boosting its shares more than 5 percent.

AP - Sears Holdings Corp. is bringing layaway back to its namesake stores next week, nearly two decades after it was scrapped, after seeing a strong response to the pay-as-you-go plan at its Kmart locations.

With the economy in free fall and stocks down, legions of middle- and upper-middle-class retirees are suddenly worried about having enough to carry them through.

The world?s largest maker of computer chips slashed its revenue forecast, signaling that the global economic slowdown is reaching into the heart of the technology industry.

Google said that it would begin selling space on YouTube search-results pages to advertisers, part of its effort to turn its acquisition into a major revenue producer.

The electronics retailer said that it was sharply cutting its outlook below analyst estimates amid what it called the toughest retail environment it has ever seen.

The company, which runs both its namesake department stores and the Bloomingdale?s chain, reported a quarterly loss of $44 million amid the expanding financial crisis.

The world's top computer chip maker, Intel, says its revenues will miss market targets due to weaker PC demand.

Is Russia using Iceland's woes for its own interest?

Is having natural resources a blessing or a curse?

Reuters - Applied Materials Inc , the No. 1 chip equipment maker, warned that profit in the current quarter would fall far short of Wall Street expectations due to the weakening global economy.

AP - The magnitude of the decline in consumer spending is coming into sharper focus, showing a shift in shoppers' behavior not seen since in decades that's causing a lot of pain for the retail industry and the economy.

The money managers have been called by a House panel to discuss some of their trade secrets at a hearing on Thursday.

At a hearing, legislators encouraged the financial industry to alter the terms of more mortgages.

A senior Swiss executive at UBS was indicted in the Justice Department?s widening criminal investigation of the bank and its offshore private-banking services for wealthy American clients.

The $6 billion bailout of Iceland appeared to be on hold amid haggling over how the country would compensate overseas customers who lost deposits in failed Icelandic banks.

The European Union fined four car glass producers more than $1.66 billion, the largest sum it has ever levied for a cartel.

US Democrats say the $700bn bail-out should include help to rescue the car industry, contradicting the treasury chief.

Henry M. Paulson Jr. is hoping to put in place a major new lending program that would be run by the Fed and aimed at unlocking the frozen consumer credit market.

General Motors, with dire warnings, is seeking a bailout, but skeptics point to the benefits of bankruptcy, which can offer a new start.

Life insurance companies, hobbled by real estate investments and committed to paying some costly retirement contracts, face more cuts in their credit ratings before the year is up.

As Britain confronts the highest rate of unemployment in over a decade, the country?s financial center is suffering not just from a loss of jobs but of prestige, too.

With the economy in free fall and stocks down, legions of middle- and upper-middle-class retirees are suddenly worried about having enough to carry them through.

A steeply rising number of shoppers, driven by anxiety over jobs and savings, or an immediate need for cash, are marching back to stores with their purchases.

Holiday advertising from a lengthening list of retailers will reflect the cautious mood among consumers as data indicate spending is slowing and store revenue is falling.

Morgan Stanley will cut 10 percent of the staff in its biggest business, the institutional securities group, which covers everything from investment banking to stock trading.

Germany?s most powerful union, IG Metall, reached a modest wage deal with employers in the flagship engineering sector.

With the economy in deep trouble, Jeffrey Hull, an executive coach and psychotherapist has some advice that goes to the heart of the matter: Don?t panic.

The leaders of the world?s 20 largest economies will have lots of gloomy news to chew over in Washington on Saturday ? from slowing growth to swelling bailouts.

A growing number of Argentines are stockpiling dollars amid worries that their government?s economic policies have doomed them to yet another financial crisis.

The team said that it would provide unemployed fans with free tickets to home games to fans who submit their résumés to be shared with prospective employers.

The Boston Red Sox froze their ticket prices at already-high 2008 levels Wednesday, a clear reflection of the worsening economic crisis.

Teresa Earnhardt and Chip Ganassi will combine their sponsorship-strapped race teams next season in an effort to stabilize their organizations in a tough economic time.

LG, Sharp and Chunghwa Picture Tubes agreed on Wednesday to cooperate in an antitrust investigation being run by the Justice Department.

The world?s largest maker of computer chips slashed its revenue forecast, signaling that the global economic slowdown is reaching into the heart of the technology industry.

ProLogis, an operator of warehouses and distribution centers, said its chief executive had resigned, and that it would cut jobs and its dividend and hold off on new development to strengthen its balance sheet.

Air France warned on Wednesday of significant disruptions to flights during a four-day French pilots strike set to start Friday.

A study found that women still lag far behind men in top political and decision-making roles, though their access to education and health care is nearly equal.

Misshapen fruit and vegetables won a reprieve as the European Union scrapped rules banning overly curved, extra knobbly or oddly shaped produce from stores.

Reuters - General Electric Co has secured the temporary backing of the Federal Deposit Insurance Corp for up to $139 billion of the debt of its finance arm, a spokesman said on Wednesday.