The Congressional panel overseeing the $700 billion federal bailout has expressed growing concern about the effectiveness and execution of the rescue plan.

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

From 2004 to 2006, many dividends were as freewheeling as the mortgages given to homeowners with bad credit.

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

Reuters - Asian stocks edged down 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 dash hopes for a speedy recovery this year.

Ssangyong Motor Company, the smallest of the five South Korean auto makers, filed for receivership in a bid to stave off collapse.

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

Production in Spanish factories fell by 15.1% in November, the biggest fall on record, as the downturn gathers pace.

India's main share index falls 3% on fears that an accounting scandal may prompt foreign investors to withdraw funds.

JD Sports and Jessops offer a glimmer of hope from the High Street, saying sales were up on last year.

Sales of Tomb Raider: Underworld are below forecasts, with US sales particularly hard hit, UK games firm Eidos says.

Reuters - Credit ratings agency Moody's put Honda Motor Co Ltd (7267.T) on review for a possible downgrade on Friday, while South Korean SUV maker Ssangyong filed for bankruptcy protection as the financial crisis further pounded the global auto industry.

South Korea cuts interest rates to a record low of 2.5%, as carmaker Ssangyong applies for bankruptcy protection.

UK manufacturing output falls at its fastest pace since 1981 in November, underlining the weak state of the economy.

Reuters - Equity markets traded slightly lower and the dollar edged up against a basket of major currencies on Friday as investors awaited key U.S. jobs data for the latest reading on the stricken U.S. economy.

Reuters - Activist investor Carl Icahn called for changes in federal bankruptcy laws which he argues are thwarting the private investment which is more appropriate than public funds for reviving the banking system.

Reuters - Shares in India's Satyam Computer Services plunged more than 70 percent to an 11-year low on Friday as investors questioned the survival of the fraud-hit outsourcing firm.

World stock markets fell modestly Friday as investors braced themselves for the jobs report for December, which many fear could be one of the worst ever.

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

Consumer unease causes BMW group sales to fall 4.3% in 2008, despite rising sales from its Mini and Rolls-Royce marques.

US President-elect Barack Obama's economic stimulus plan runs into opposition from within his own party.

Did George Bush lead the world into economic crisis?

Cut-price supermarket Aldi begins to offer holidays, during the travel industry's busiest week of the year.

Reuters - Stock index futures fell on Friday on investor unease ahead of government data expected to show that more than half a million jobs disappeared in December as recession tightened its grip on the economy.

Reuters - Japanese electronics maker Panasonic Corp (6752.T) will cut its investment in two new flat-screen TV plants by about $1.5 billion and exit unprofitable businesses as the global economic slump slices into its profits.

December?s job losses brought the total for 2008 to 2.6 million, and a rapidly deteriorating economy promised more in the months ahead.

The European Commission said an agreement had been reached to send a monitoring mission to oversee gas deliveries, but Moscow said Ukraine had not signed yet.

Investors were showing some relief following a government report that the U.S. economy lost fewer jobs in December than feared.

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

The struggle for survival at Satyam, following revelations of massive fraud at the company, has prompted a debate over whether the government should intervene.

More US workers lost jobs last year than in any year since World War II, with employers axing 2.6 million posts.

Reuters - Stocks fell at the open on Friday as sign of further deterioration in the labor market fueled concerns that the recession is deepening.

Reuters - Best Buy Co , the top consumer electronics retailer, narrowed its full-year profit forecast on Friday after posting a 6.5 percent drop in December same-store sales during the worst U.S. holiday shopping season in nearly 40 years.

Reuters - Swiss wealth manager UBS AG is closing all the offshore accounts of its U.S. clients, the bank said on Friday, as it comes under pressure from U.S. tax authorities.

BusinessWeek Online - Last year was that rare wrinkle in history when everything that could go wrong did go wrong. Stocks and real estate imploded. Bank failures abounded. Fannie Mae, Freddie Mac, and AIG became wards of the state, while the Federal Reserve had to double its balance sheet in the course of a few weeks.

While the job report fell short of the direst predictions, it was still bad enough to spark a broad decline.

There are hopes that gas flows through Ukraine may be resumed after the first EU monitors arrive to check pipelines from Russia.

Explaining the maths behind the credit crunch

Lord Mandelson says the government is considering help for car finance firms but rules out help for vehicle manufacturers.

Reuters - Stocks fell on Friday after government data showed the labor market crumbled further in December, adding to worries about the profit outlook and a deepening recession.

The economy lost 524,000 jobs in December, bringing the total for 2008 to 2.6 million, and a rapidly deteriorating economy promised more in the months ahead.

The struggle for survival at Satyam, following revelations of massive fraud at the company, has prompted a debate over whether the government should intervene.

The Indian government sacks the entire board of the country's scandal hit software company Satyam.

Frozen food retailer Iceland buys 51 former Woolworths stores, and says it plans to create 2,500 new jobs.

Reuters - Stocks dropped on Friday after government data showed that the labor market worsened in December, heightening investors' fears about the outlook for profits and a deepening recession.

Reuters - Boeing Co said on Friday it would cut 4,500 workers in its commercial plane unit this year, about 7 percent of the unit total, as the company looks to slash costs in the global economic recession, which has already taken its toll on aircraft orders.

The economy lost 524,000 jobs in December, bringing the total for 2008 to 2.6 million, and a rapidly deteriorating economy promised more in the months ahead.

Robert E. Rubin, the former Treasury secretary, came under fire for his role in the bank?s current troubles.

Prosecutors dropped charges against David A. Stockman, a former Reagan White House budget director, and three other executives in connection with their roles at a bankrupt auto parts maker.

Representative Barney Frank said that he expected the House to act soon to impose conditions on the release of new bailout funds, with a mandate that at least $50 billion go to help avoid foreclosures.

The company, citing the global economic slowdown, said the job cuts would be made in its commercial aircraft business.

The founder of scandal-hit Indian software company Satyam is arrested two days after he admitted falsifying the firm's accounts.

Reuters - Robert Rubin, the former U.S. Treasury Secretary, has resigned from Citigroup Inc, following months of criticism of his performance at the bank.

Reuters - Stocks fell on Friday after government data showed the labor market deteriorated further in December, raising investor concerns about the outlook for profits and a deepening recession.

Reuters - Boeing Co became the latest U.S. industrial giant to cut jobs on Friday, shedding 4,500 workers from its commercial plane operations, or about 7 percent of the unit total, as it looks to trim costs in the face of a global recession.

Prosecutors dropped charges against David A. Stockman, a former Reagan White House budget director, and three other executives in connection with their roles at a bankrupt auto parts maker.

The Hearst Corporation will stop printing The Seattle Post-Intelligencer unless it can find a buyer in the next 60 days, company executives told employees.

GMAC, the financing arm of General Motors, is becoming a bank holding company in order to get government bailout money, and the Treasury required it to change its board.

Reuters - Stocks fell on Friday after government data showed the labor market deteriorated further in December, raising investor concerns about the outlook for profits, spending and a deepening recession.

Reuters - Citigroup Inc is in talks to sell its Smith Barney brokerage unit, and is considering a joint venture with Morgan Stanley to merge their respective brokerage units, a source familiar with the matter told Reuters on Friday.

The announcement that former Treasury secretary Robert E. Rubin will step down came as Citigroup was in talks to sell an interest in its brokerage unit to Morgan Stanley.

Prosecutors dropped charges against David A. Stockman, a former Reagan White House budget director, and three other executives in connection with their roles at a bankrupt auto parts maker.

The Hearst Corporation will stop printing The Seattle Post-Intelligencer unless it can find a buyer in the next 60 days, company executives told employees.

UK bank Lloyds TSB agrees to pay a $350m penalty to US authorities after admitted violating US sanctions.

A deal to restore flows of Russian natural gas via Ukraine is held up despite the arrival of EU monitors in the region.

The UK economy likely declined 1.5% in the last three months of 2008, its worst performance in 28 years, a study reports.

Reuters - Citigroup Inc is in advanced talks to sell its Smith Barney brokerage unit to Morgan Stanley, a person familiar with the matter said on Friday, in a move that would further dismantle the financial supermarket that has been bailed out by the U.S. government.

Reuters - MGM Mirage said on Friday it would write down the value of the Mandalay Resort Group, the casino company it bought in 2005 for about $5 billion.

Bernard Madoff remained free on bail as questions arose about when he told his brother Peter B. Madoff, the firm?s chief compliance officer, of his Ponzi scheme.

It?s time to appreciate and evaluate your frequent flier and other rewards programs.

Authorities suspect some of the money may have been used to finance Iran?s nuclear and missile programs.

Small cities in 25 states ? almost 100 communities in all ? have lost commercial air service in the last two years for a variety of reasons.

Authorities took over Satyam?s board on Friday, seeking to ensure that clients are not affected and that confidence is restored in the stability of Indian outsourcers.

J. Ezra Merkin is facing legal pressure over investments he made in Bernard Madoff?s firm.

The overseer of the $2.6 trillion municipal bond market says it is too lightly regulated.

The task of saving for a rainy day seems daunting, but finding specific areas to cut back can help.

Americans holding secret offshore accounts at UBS are about to have their funds returned to them, possibly raising paper trails that will make it easier for the I.R.S. to track down tax evaders.

A trip to a rink for figure skating lessons in pursuit of exercise ends with a graceful note.

The economy is forcing automakers, and not just the Big Three, to cut back on audacious displays at the Detroit auto show.

The Boeing Company plans to cut about 3 percent of its work force as a weakening global economy reduces demand for jetliners

The Ssangyong Motor Company has applied for protection from creditors after red ink mounted and its cash flow collapsed amid falling sales.

President-elect Barack Obama and Congressional Democrats want to apply greater scrutiny and a more defined mission to the $700 billion rescue program.

Merisant Worldwide filed for Chapter 11 bankruptcy protection, weighed down by increased competition and too much debt.

KB Home stemmed losses in the fourth quarter compared with a year ago, but it said that sales had fallen 56 percent and that it expected home prices to fall further this year.

Rambus, a designer of high-speed memory chips, may not use 12 of its patents to demand royalties from Micron Technology, a federal judge ruled.

The godfathers of a plan to seek federal financing for a Las Vegas museum on organized crime say the museum and the city have become scapegoats.

Reuters - Automakers will introduce glossy cars and new hybrids at the Detroit Auto Show, but with General Motors Corp and Chrysler LLC still teetering on the edge of failure and industry sales expected to worsen, the lure of shiny new sheet metal may not be what it was in the past.

Economists say it is unclear whether President-elect Barack Obama?s stimulus package is big enough and whether it would provide the most bang for the buck.

India?s credit crisis helped expose the Satyam fraud case.

Reuters - An estimated 1.3 million car workers and retirees could see their pensions cut if one or more of the U.S. automakers collapse, the head of the government agency that protects Americans' pensions warned on Friday.