The owner of CNN and Time magazine said that it expected to record a fourth-quarter $25 billion write-down that would lead to an operating loss for the period.

Asian stock markets fell sharply Thursday, with benchmarks in Tokyo and Hong Kong tumbling more than 3 percent.

Thai Airways International will ask Airbus to delay delivery of six A330 planes because its cash is running low after an eight-day shutdown of the country?s main international airport.

China announced a series of measures aimed at helping millions of recent college graduates find work amid the deepening impact of the global financial crisis.

Top Russian and Ukrainian gas executives are due in Brussels as the EU seeks to end a row hitting Europe's gas supplies.

Mexico unveils emergency measures to protect its economy, including freezing fuel prices and creating thousands of new jobs.

The government denies reports it plans to print more money to help ease Britain's recession but says the tactic cannot be ruled out.

The economic downturn is helping to drive record levels of unpaid overtime by workers fearing for their jobs, the TUC claims.

Wall Street lost nearly all the gains stocks had made since Jan. 1, amid worries of corporate losses and soaring unemployment.

Economic worries and grim reports sent markets down in the Asia-Pacific region despite stimulus measures.

Top Russian and Ukrainian officials holds talks in Moscow to try to end the row which has disrupted European gas supplies.

Bratz dolls are to be allowed to remain on sale during 2009 after a judge gives a reprieve to their manufacturer.

Shares in airline Cathay Pacific drop sharply after it warns it could lose $1bn after misjudging the direction of fuel costs.

Mexico unveils emergency measures to protect its economy, including freezing fuel prices and creating thousands of new jobs.

The Bank of England is set to cut interest rates to the lowest in its 315-year history when it makes its latest decision later.

Sainsbury's says it has just had its 'best ever Christmas performance', with its sales rising 4.5% in the past three months.

Reuters - Asian stocks and emerging market currencies fell on Thursday, after dire U.S. private employment data and fears about corporate earnings cooled investor willingness to take risks for higher returns.

Reuters - Citigroup Inc is leading other lenders in advanced talks with key U.S. senators on legislation that would allow judges to set new repayment terms for millions of mortgage holders who wind up in bankruptcy court, the Wall Street Journal said, citing people involved in the talks.

Reuters - HSBC (0005.HK) , Europe's biggest bank, said on Thursday U.S. stocks were the best bets in 2009 due to the healthy profits some U.S. firms had made over the past two years, though a big sell-off was possible through March.

Reuters - Costco Wholesale Corp on Thursday reported same store sales.

Reuters - Lenovo Group (0992.HK), the world's fourth-biggest PC maker, forecast a quarterly loss as China's slowing economy hit sales, and will axe 2,500 jobs as part of a restructuring, knocking its shares down by more than a fifth.

Economic worries and grim reports sent markets down in the Asia-Pacific region despite stimulus measures.

Two large Asian technology firms, TDK and Lenovo, announce big job cuts after a fall in demand.

Satyam faces an investigation and sees its stock suspended after its boss quit over an accounting scandal.

Computer giant Dell is to shed 1,900 of the 3,000 jobs at its manufacturing site in Limerick in the Irish Republic.

Venezuela's US-based oil firm Citgo reverses Monday's decision to scrap a scheme providing heating oil to poor US families.

Bratz dolls are to be allowed to remain on sale during 2009 after a judge gives a reprieve to their manufacturer.

The administrators at music, games and DVD retail chain Zavvi say they are closing 22 stores.

Reuters - Costco Wholesale Corp reported a 4 percent fall in sales at stores open at least a year in December, hurt mainly by lower gasoline prices and foreign exchange losses.

Reuters - Lenovo Group, the world's fourth-biggest PC maker, forecast a quarterly loss as China's slowing economy hit sales, and said it will axe 2,500 jobs as part of a restructuring to cope with falling demand for computers.

As the global downturn has intensified, Beijing is starting to keep more of its money at home, which could have painful effects for U.S. borrowers.

The Bank of England on Thursday cut its benchmark interest rate by half of a point to try to bolster the deteriorating economy.

A meeting between the top Gazprom executive and his Ukrainian counterpart to resolve a conflict that has halted Russian gas exports through Ukraine ended without agreement.

The Serious Fraud Office in Britain announced Thursday that is opening an investigation into the business operations of Bernard L. Madoff.

Nearly everything at the Consumer Electronics Show is a little computer that wants to seek out and connect to other computerized devices, no matter who makes them.

Chip maker Intel cuts its fourth-quarter revenue forecast again as spending on computers slows.

Talks in Brussels to try to end the row disrupting Europe's gas supplies end with no apparent progress.

The Bank of England cuts rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to help the economy.

Spain's unemployment total hit a 12-year high in 2008, while separate data shows the eurozone's jobless rate rose in November.

Reuters - Stock index futures slid on Thursday after Wal-Mart Stores posted disappointing December sales and forecast a fourth-quarter profit shortfall, compounding investors' worries about the deepening recession.

The nation?s retail chains confirmed Thursday that they suffered one of the worst holiday shopping seasons in decades.

A day after suffering their worst losses in more than a month, stock markets headed lower as retail stores reported a bleak holiday shopping season.

New claims for unemployment benefits dropped unexpectedly last week, but the number of people continuing to seek aid rose sharply.

Nearly everything at the Consumer Electronics Show is a little computer that wants to connect to other computers.

US retailers including Wal-Mart saw disappointing sales in the key Christmas trading period, as consumers reined in spending.

The Japanese central bank is providing banks with emergency loans in a new bid to stimulate its worsening economy.

Continental Airlines is the latest to to test-fly a jet biofuel, this time with a product derived partially from algae.

Reuters - Stocks opened lower on Thursday after Wal-Mart Stores Inc posted disappointing December sales and cut its fourth-quarter profit outlook, compounding investors' concerns about the worsening recession.

Reuters - Volatile markets have saddled U.S. companies with a $409 billion deficit on pension plans, reversing a $60 billion surplus a year earlier, and will cut into earnings in 2009, consulting firm Mercer said.

Reuters - Finance company GMAC LLC expressed support for its money-losing Residential Capital LLC mortgage unit on Thursday but stopped short of a commitment to keep the big home loan provider in business.

The nation?s retail chains confirmed Thursday that they suffered one of the worst holiday shopping seasons in decades.

Leftover gloom from the holidays dragged down stock markets a day after suffering their worst losses in more than a month.

A recession could last for years unless a stimulus plan is passed, Barack Obama plans to say in a speech today.

US President-elect Barack Obama says that a huge stimulus package is urgently needed to revive the US economy.

Commerzbank, Germany's second biggest bank, is to be partly nationalised, with the government taking a 25% stake.

Russian gas giant Gazprom says it will resume pumping gas to Europe, as Ukraine says it will guarantee its transit.

The Czech Republic warns the European Union against borrowing its way out of the global slowdown.

Investors fear repercussions of Satyam fraud

Carmaker Nissan announces it is to axe about 1,200 jobs, a quarter of the workforce in Sunderland.

Reuters - Stocks were little changed on Thursday as investors took bleak signs of more deterioration in consumer spending as likely to spur Washington to approve a stimulus plan quickly to jolt the economy out of recession.

Reuters - Unemployment benefit rolls swelled to a 26-year high in the last week of December, data showed on Thursday, while retailers, including market leader Wal-Mart, reported poor sales as the year-long economic slump deepened.

AP - Mortgage giants Fannie Mae and Freddie Mac said Thursday they will extend the suspension of foreclosure sales and evictions from single-family homes through the end of January.

In making a case that Bernard L. Madoff?s bail should be revoked, prosecutors said investigators found checks that were ready to be sent to his family and friends.

The nation?s retail chains confirmed Thursday that they suffered one of the worst holiday seasons in decades.

A recession could last for years unless a stimulus plan is passed, Barack Obama said on Thursday.

While the Indian outsourcing company Satyam struggles to pay employees, investors prepare to sue its auditor, PricewaterhouseCoopers.

Mr. Grey, a former talent manager and producer, has renewed his contract to run Paramount for five more years.

Europe?s gas crisis appeared to be moving toward a solution, after Gazprom said it would resume shipments when monitors could verify the gas was being shipped to the West.

Bernard Madoff had $173m in cheques in his office desk, ready to send out at the time of his arrest, US prosecutors say.

A US private equity firm is in advanced talks to buy most of iconic china firm Waterford Wedgwood.

A holiday company has changed its pricing policy after an investigation by the BBC's Working Lunch programme.

Reuters - Stocks fell on Thursday as Wal-Mart's disappointing December sales and dim profit outlook fueled concerns the recession may be deepening.

Reuters - Citigroup Inc could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan.

AP - Citigroup Inc. is in advanced talks with lawmakers on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures, a person briefed on the matter said Thursday.

The nation?s retail chains confirmed that they suffered one of the worst holiday seasons in decades.

Six weeks before the nation?s television stations are scheduled to convert to digital transmission, the Obama administration is asking Congress to consider a delay.

A recession could last for years unless a stimulus plan is passed, Barack Obama said on Thursday.

Palm says the device breaks new ground in the fiercely competitive smartphone market.

Europe?s gas crisis appeared to be moving toward a solution, after Gazprom said it would resume shipments when monitors could verify the gas was being shipped to the West.

Reuters - The Dow and S&P 500 fell on Thursday as Wal-Mart's soft December sales and lowered earnings outlook increased worry the recession may be deepening, stretching consumers further.

Reuters - Spreads on key debt and other financial indicators point to the effectiveness of the Treasury Department's $700 billion financial rescue program, the official in charge of the program said on Thursday.

AP - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and said they expected other lenders to follow.

AFP - US retailers revealed Thursday the extent of dismal sales in the crucial year-end holiday shopping season, when wary consumers snapped their wallets shut in the face of a deepening recession.

A trader who fled to escape prosecution for his own financial crimes may find it difficult to sue for redress.

Echoing concerns from consumers groups, the recommendation was the most significant sign to date of concern about the digital TV transition.

Stock markets clipped their losses, turning mixed in the final minutes of trading as investors positioned themselves for Friday?s release of December unemployment numbers.

Under the plan, bankruptcy judges will be allowed to alter home loans in an effort to prevent foreclosures.

The payments were not an indication of solid corporate performance.

Russia says it will resume pumping gas to Europe once independent monitors are in place to check the flow to EU markets.

Reuters - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower oil and gas prices on its upstream business.

Reuters - Most U.S. stocks rose on Thursday after news that Citigroup Inc agreed to support legislation aimed at stemming home loan foreclosures, offsetting Wal-Mart's disappointing sales and outlook.

Reuters - Collapsing stock prices have created shortfalls in pension plans in dozens of large U.S. companies, which may require them to pump in tens of billions of dollars of cash, hurting earnings.

AP - Fiscal fitness is knocking weight loss off the top of many New Year's resolution lists, thanks to 2008's market drubbing. That often means casting off last year's worst-performing mutual funds for more promising alternatives.

AP - Dismal sales figures for the holiday shopping season are probably a sign of worse to come for merchants in 2009 — not only more sharp discounts and cheaper groceries but probably fewer stores.

Rates on 30-year fixed loans fell for the 10th consecutive week to the lowest levels in decades, but it is not clear if it is enough to lure homebuyers back into the ailing house market.

Under the plan, bankruptcy judges will be allowed to alter home loans in an effort to prevent foreclosures.

Meridith said it was eliminating 250 jobs, including about 40 people who work at Country Home, a reduction that a company spokesman said was effective immediately.

The European Union said late Thursday that gas supplies to the continent should start flowing shortly, after a deal was struck late Thursday with Ukraine and Russia.

President-elect Barack Obama is urging Congress to postpone the Feb. 17 switch from analog to digital television broadcasting.

New claims for unemployment benefits dropped unexpectedly last week, but the number of people continuing to seek aid rose sharply.

The US financial watchdog reopens an insider trading inquiry into Microsoft shares three years on, reports say.

Obama signals the end of the Reagan era

Will Gaza's next struggle be an economic one?

Reuters - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday.

Reuters - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower energy prices on its exploration and production business.

Arguing that Bernard L. Madoff?s bail should be revoked, prosecutors cited more evidence that he was hiding assets.

A trader who fled to escape prosecution for his own financial crimes may find it difficult to sue for redress.

Trading volume was light and market analysts said that investors seemed to be biding their time before the release of the December employment numbers on Friday.

While the Indian outsourcing company Satyam struggles to pay employees, investors prepare to sue its auditor, PricewaterhouseCoopers.

It is unclear whether the record low will be enough to lure home buyers back into the house market.

The Obama transition team is seeking to delay the Feb. 17 move to digital TV, saying millions of homes aren?t ready.

The rate, now 1.5 percent, is expected to be cut to close to zero by the second quarter.

The great news on the dividend front from 2004 through 2006 was not an indication of solid corporate performance; it was just another sign of lax lending standards.

Reuters - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday.

Reuters - Lehman Brothers Holdings Inc has reached an agreement in principal to sell its merchant banking business, made up of two private equity funds, to management of the funds, a source familiar with the situation said on Thursday.

The authorities have been investigating what appears to be collusion in the multibillion-dollar municipal bonds market.

President-elect Barack Obama has become BlackBerry?s most prominent user, a pitch that would be worth millions if he could charge for it.

UBS will close about 19,000 accounts held by Americans that may have gone undeclared to the Internal Revenue Service.

A trader who fled to escape prosecution for his own financial crimes may find it difficult to sue for redress.

The president-elect?s economic recovery plan ran into cross-fire from his own party, suggesting that it could take more time to pass than Democrats once hoped.

Big winners from the fallout are likely to be two American companies, Accenture and I.B.M., as competitors begin angling for a share of Satyam?s nearly $2 billion in annual revenue.

A project announced by the N.A.A.C.P. and lawyer Cyrus Mehri aims to increase the number of black workers on Madison Avenue.

In the wake of the Madoff scandal, the Securities and Exchange Commission ended an exemption on auditors for privately held brokerage firms.

Assuming the success of the Kindle partly accounts for Amazon?s crazy stock price, there may be a way to assess its value.

An 82-year-old businessman was charged with running a Ponzi scheme that took in at least $17 million from a clientele gleaned largely through ads in Catholic newspapers.

Merrill Lynch lost another senior executive as the firm?s investment banking chief, Gregory J. Fleming, announced that he would leave for a teaching post at Yale.

In a similar deal last month, Lehman kept a stake in Neuberger Investment Management.

The government took a quarter stake in Commerzbank as it stepped up efforts to stabilize the financial system and consolidate one of Europe?s most fragmented banking landscapes.

Author Solutions, a publisher of print-on-demand books, has acquired Xlibris, a rival self-publisher, expanding its footprint in one of the fastest-growing segments of publishing.

US bank Citigroup backs a proposed change in US bankruptcy law to help mortgage borrowers avoid losing their homes.

Reuters - Asian stocks slipped and the U.S. dollar drifted higher on Friday, as investors braced for the December U.S. payrolls data, expected to show sharp job losses and deal another blow to hopes for a speedy recovery this year.