Senators grilled Timothy F. Geithner about his personal tax delinquencies but predicted he would be confirmed.

Chinese economic growth slowed to 9% last year, its lowest rate of growth for seven years.

Electronics giant Sony says it is going make its first annual loss in 14 years as the global economic slowdown hits demand for its products.

Sterling's slide continues and bank shares take another hit as concerns about the UK economy and the financial sector intensify.

Reuters - Asia stocks rose slightly on Thursday, with investors snapping up beaten down bank shares, but with global economic gloom still pervasive, safety trades such as the yen and U.S. Treasuries also climbed.

Reuters - Sony Corp on Thursday forecast a much bigger-than-expected annual operating loss, its first annual loss in 14 years due to a sharp appreciation in the yen, steep price falls and restructuring costs.

From housing prices to banks, perspectives for the British economy seem bleaker than those of the U.S. or Europe.

Sterling remains close to a 23-year low against the dollar, erasing earlier gains made on G7 speculation.

British Gas will reduce gas prices by 10% from 19 February, which it says will cut £84 from the average annual household bill.

Supermarket chain Morrisons says it enjoyed 'excellect' Christmas trading, with like-for-like sales excluding fuel up 8.2%.

Reuters - Asia stocks rose on Thursday, as investors snapped up beaten down bank shares and pinned their hopes on policy action to support growth, but economic gloom held the yen near a 13-year high against the dollar.

From housing prices to banks, perspectives for the British economy seem bleaker than those of the U.S. or Europe.

Sony said it would post a record annual operating loss of nearly $3 billion because of the rapid deterioration of the economy, and it announced layoffs and factory closings.

Economic data from leading Asian economies highlighted the accelerating decline of growth in the region, mainly because of sagging demand in the recession-struck West.

Chipmaker Intel is closing five plants in the US and Asia, as it responds to falling global computer sales.

Citigroup's new boss says banks might lend more if the US government took bad assets off their hands.

Growth slows but China is not collapsing

Europe in fierce global competition to get top talent

The number of new cars produced in the UK in December 2008 falls dramatically, as carmakers cut back.

Budget carrier Easyjet says its revenues in half year to end-March 'will be ahead of previous guidance'.

Reuters - World stocks rose from this week's 7-week low on Thursday as banking shares recovered after a heavy sell-off, while European government bonds tumbled on concerns the countries may borrow more to boost the economy.

Reuters - Fiat SpA's founding family is weighing a capital increase of about 2 billion euros ($2.58 billion) with an eye to a possible merger with France's PSA Peugeot Citroen, an Italian daily reported.

Sony said it would post a record annual operating loss of nearly $3 billion because of the rapid deterioration of the economy, and it announced layoffs and factory closings.

The world?s top mobile phone maker, Nokia Corp., said its profits had fallen 69 percent in the fourth quarter as the economic downturn slowed handset sales.

Belgian bank KBC secures a 2bn euros cash injection from the Flemish regional government to help clear its bad debts.

Fraud-hit Indian IT firm Satyam inflated the number of employees working for the firm to siphon off cash, a prosecutor says

Singapore unveils its biggest budget yet, valued at 6% of GDP, along with a $13bn stimulus package aimed at curbing the recession.

Is Japan's Sony just too big for its own good?

The number of people losing their homes after failing to meet mortgage payments is up sharply, the UK's financial watchdog says.

Reuters - Sony Corp warned it would post a record $2.9 billion annual operating loss due to sliding demand and a stronger yen, and unveiled fresh restructuring steps to revive its ailing electronics operations.

Reuters - UnitedHealth Group Inc posted a 40 percent drop in fourth-quarter net earnings on Thursday as the insurer took a big litigation charge and premium rates did not keep pace with medical costs.

Reuters - Lockheed Martin Corp , the world's No. 1 defense contractor, reported a better-than-expected 3 percent increase in quarterly profit on Thursday, but sharply cut its full-year forecast due to higher expected pension costs.

AP - Amid a year-long turnaround plan teen clothing retailer Charlotte Russe Holding Inc. says it will consider selling itself, and warned that continued sales weakness will drive a larger-than-expected loss for the fiscal second quarter.

The announced cuts, about 5 percent of Microsoft?s work force, are fallout from a slowdown in sales amid the global recession.

New-home construction plunged to an all-time low in December, a much weaker showing than economists had forecast. Separately, weekly jobless benefit claims rose more than expected.

The cell phone maker posted a worse-than-expected drop in quarterly profit, reduced its dividend and warned that market volumes would shrink 10 percent this year.

Stock markets around the world climbed as investors bought up what they saw as cheap bank stocks, which had fallen sharply on worries about steep losses.

A Chinese court sentenced two men to death and a top dairy company executive to life in prison for selling tainted milk products.

The managed-care provider said that its fourth-quarter profit fell 40 percent compared with last year, as it settled a lawsuit and dealt with rising expenses.

The company said fourth-quarter earnings rose 3 percent to top Wall Street expectations, but it lowered its 2009 profit outlook on an expected spike in pension costs linked to market turmoil.

It was Southwest?s second losing quarter of 2008 after 16 straight years without finishing a three-month period in the red.

The bank cited rising defaults on loans, charges on goodwill and credit costs for the quarterly loss, which missed Wall Street expectations.

The paint maker also gave a weaker-than-expected forecast for the current quarter, sending its shares down 12 percent.

Microsoft says it will cut up to 5,000 jobs over the next 18 months, including 1,400 immediately.

The rate of construction of new homes in the US fell by 15.5% in December to hit an all-time low, official statistics show.

Italian carmaker Fiat reports a 19% drop in revenues for the last three months of 2008 after a sharp fall in sales.

UK manufacturers' orders plummet during the past three months, and the outlook is worse, says a survey.

Reuters - Microsoft Corp posted quarterly results that missed Wall Street expectations, announced it would cut up to 5,000 jobs and said it could no longer offer profit forecasts for the rest of the fiscal year.

Reuters - Stock index futures hit session lows on Thursday after Microsoft Corp reported quarterly results earlier than scheduled in the day, hurting a market already weakened by economic data showing further deterioration in the labor and housing markets.

Reuters - Sony Corp warned it would post a record $2.9 billion annual operating loss due to sliding demand and a stronger yen, and unveiled fresh restructuring steps to revive its ailing electronics operations.

Microsoft stunned its investors, announcing the first broad layoffs in its history and offering a pessimistic forecast for the second half of its fiscal year.

Large regional banks including Fifth Third, Huntington Bancshares and KeyCorp reported lower fourth-quarter earnings, illustrating the breadth and depth of the credit crisis.

Southwest has been one of the industry?s leading purchasers of fuel hedging contracts and has been forced to take charges as fuel prices have fallen.

The commercial lender posted a loss to common shareholders of $204 million, after putting aside more money for bad loans.

The former head of German postal giant Deutsche Post, Klaus Zumwinkel, is on trial for tax evasion.

Piracy off Somalia is a cause of falls in tuna catches in the Indian Ocean, one of the world's richest sources of the fish, experts say.

Reuters - Stocks fell on Thursday with the major indexes down more than 2 percent after a surprisingly grim earnings report from Microsoft Corp and economic data that showed further deterioration in the labor and housing markets.

Reuters - Bank of America Corp Chief Executive Kenneth Lewis plans to meet on Thursday with former Merrill Lynch CEO John Thain over Thain's future with the largest U.S. bank, CNBC television reported, citing people familiar with the situation.

John A. Thain, the former chief of Merrill Lynch, resigned after losses stemming from Bank of America?s acquisition of the giant brokerage.

Timothy F. Geithner was strongly endorsed by the Senate Finance Committee as secretary of the Treasury, virtually guaranteeing his quick confirmation by the full Senate.

Wall Street opened sharply lower as new unemployment and housing data was worse than expected and Microsoft announced a drop in income and job cuts.

Southwest has been one of the industry?s leading purchasers of fuel hedging contracts and has been forced to take charges as fuel prices have fallen.

Global crude prices dip by more than $2 after US figures show a larger-than-expected jump in petrol stocks.

Nokia, the world's largest mobile phone maker, reports dramatically lower quarterly profits as it struggles to combat the economic downturn.

German carmarker Audi is to halt production at its main German plant in the face of falling sales.

Reuters - Stocks slid on Thursday, after Microsoft's proposed job cuts and grim earnings rattled investors, while economic data showed further deterioration in the labor and housing markets.

Reuters - Former Merrill Lynch Chief Executive John Thain has resigned from Bank of America Corp which recently acquired Merrill, effective immediately, a Bank of America spokesman said on Thursday.

AP - It's easy to get sloppy with your finances when times are good: adding a premium cable channel, signing up for the deluxe gym membership or reaching for the pricey Italian coffee. 'But there's nothing like a good old fashioned recession to remind people you can't be sloppy all the time,' said Eric Tyson, author of 'Personal Finance for Dummies.'

AP - Rates on 30-year mortgages rose above 5 percent this week, ending a five-week run at record low levels, Freddie Mac reported Thursday.

Microsoft initiated the first broad layoffs in the company?s history on Thursday and warned that technology spending could wane for years to come.

Stock markets clipped their losses in afternoon trading but were still trading in the red as investors grappled with disappointing news from Microsoft and the housing market.

A ruling has been reached among the president?s advisers, and the Secret Service, that will allow him to keep his BlackBerry.

The former chief of Merrill Lynch, John Thain, resigns from Bank of America just three weeks after the two banks merged.

The Irish government rejects Ryanair's bid for Aer Lingus, saying the offer undervalues the Irish flag carrier.

Reuters - Stocks fell on Thursday, but were off their earlier lows after comments from the White House countered disappointing news from Microsoft and economic data that showed further deterioration in the labor and housing markets.

Reuters - Fiat SpA's chief executive said on Thursday he did not plan to run Chrysler LLC but he still hoped to contribute to the revival of the Italian group's new partner, the weakest of Detroit's three automakers.

Timothy F. Geithner?s comment is certain to anger the Chinese government and raise fears that it could sell off some of its huge reserves of dollars.

Google?s results were above analysts? expectations, which were lowered significantly in recent weeks.

Advanced Micro Devices issued an earnings report on Thursday that was more in line with the rest of the chip industry: dismal.

Stock markets clipped their losses in afternoon trading but were still trading in the red as investors grappled with disappointing news from Microsoft and the housing market.

Southwest has been one of the industry?s leading purchasers of fuel hedging contracts and has been forced to take charges as fuel prices have fallen.

The head of the software company confessed to making up more than 10,000 employees to siphon money from the company and to using his mother?s name to buy land with the cash.

Pay in the financial industry was excessively high around 1930 and from the mid-1990s until 2006, according to two economists, but may be set to fall.

Google sees revenue rise in the final quarter of last year in what are been seen as positive year end results.

Reuters - Google Inc posted quarterly earnings ahead of Wall Street forecasts as strong advertising sales on its self-branded websites helped the Internet leader defy the gloom pervading the tech sector.

Reuters - Stocks slid on Thursday, after Microsoft's proposed job cuts and disappointing earnings shook investors, while economic data showed further deterioration in the labor and housing markets.

AP - As market observers watch for early signs that better times are around the corner, they're paying close attention to small-company stocks, which tend to recover earlier than large-company stocks coming out of a recession.

Southwest has been one of the industry?s leading purchasers of fuel hedging contracts and has been forced to take charges as fuel prices have fallen.

Productivity improvements, lower fuel costs and higher shipping rates helped the results.

Shares of the health insurance company soared after it released a fourth-quarter report that showed signs it might be building momentum.

Quarterly profit rose 3 percent for the defense contractor, which said higher pension costs forced it to reduce its outlook.

Pay in the financial industry was excessively high around 1930 and from the mid-1990s until 2006, according to two economists, but may be set to fall.

The risks to taxpayers from bank nationalisations and bail-outs should be 'comprehensively disclosed', MPs say.

Reuters - The British government is considering injecting as much as 10 billion pounds ($13.80 billion) into Northern Rock to use the nationalized bank to ramp up mortgage lending, the Daily Telegraph reported.

Sweden?s experience with reviving a failed banking system might provide a model for the United States.

Some federal money is coming with a condition that smaller banks seek to merge with larger institutions.

Google?s results were above analysts? expectations, which were lowered significantly in recent weeks.

Stock markets clipped their losses in afternoon trading but were still trading in the red as investors grappled with disappointing news from Microsoft and the housing market.

Sony said it would post a record annual operating loss because of the rapid deterioration of the economy.

The New York Times Company is in negotiations to sell a substantial portion of its headquarters building on Eighth Avenue in Midtown Manhattan to W. P. Carey & Company.

The head of the software company confessed to making up more than 10,000 employees to siphon money from the company and to using his mother?s name to buy land with the cash.

For advertisers, Super Bowl ads are just part of overall marketing campaigns.

The plan was prompted largely by a desire to streamline operations and cut costs as audiences for network television continue to dwindle.

The decision stalls I.R.S. efforts to force companies to disclose ?soft spots? in their aggressive tax planning.

New-home construction plunged to an all-time low in December, a much weaker showing than economists had forecast. Separately, weekly jobless benefit claims rose more than expected.

Pay in the financial industry was excessively high around 1930 and from the mid-1990s until 2006, according to two economists, but may be set to fall.

Mexico's top broadcaster and a US partner settle a dispute that had threatened Spanish-language programming in the US.

Reuters - Samsung Electronics (005930.KS) posted its first-ever quarterly loss on Friday, hammered by devastating results in its memory chip and flat screen businesses as the global downturn dried up demand for electronics.

Timothy F. Geithner stated that the president believed that China was ?manipulating? its currency, signaling a more confrontational approach to a delicate issue.

Strong sales and cost-cutting pushed the company?s profitability above Wall Street?s recently lowered forecasts.

With sales of PCs falling, Microsoft said it would lay off 5 percent of its work force, and warned that technology spending could wane for years to come.

The results put additional pressure on Advanced Miro Devices, which has already lost money for eight consecutive quarters and has struggled against its bigger and stronger rival, Intel.

The UK is expected to receive its worst output figures since 1990 later - and official confirmation the country is in a recession.

Reuters - Citigroup is to drop two senior board members, the Financial Times reported on Thursday, clearing the way for its incoming chairman, former Time Warner Inc Chief Executive Richard Parsons, to clean house.

Reuters - Satyam Computer Services Ltd , India's fraud-scarred outsourcing firm, may name a new leadership team later on Friday, local media reported, after a two-day meeting of the company's new government-appointed board.