China is starting to spend hundreds of billions of dollars on infrastructure projects, fearing that widespread joblessness could lead to social unrest.

The government will allow the world?s first test in people of a therapy derived from human embryonic stem cells.

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.

The owners of Barneys New York are doing all they can to move merchandise these days, but the luxury chain itself may end up for sale, possibly at a bargain-bin price.

History cautions against a traditional lender buying an investment bank. Maybe Bank of America thought it was different this time.

Thomas Ricketts got the backing of the Tribune Company?s creditors committee on Thursday to acquire the Chicago Cubs and Wrigley Field for around $900 million.

A federal judge refused to grant bail on Thursday to Marc S. Dreier, a prominent New York lawyer accused of a $380 million Ponzi scheme.

Increasing numbers of Americans cannot afford prescription drugs for themselves or for their children, according to a new survey.

William J. Lynn III, President Obama?s pick for deputy secretary of defense, has been a lobbyist for the military contractor Raytheon.

Officials with the Service Employees International Union said they would appoint the trustee unless the local obeyed the parent union?s decision to move thousands of members into another local.

South Korea's Samsung posts its first ever quarterly loss, helping to send Asian markets downwards.

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

Investors testified at a hearing about the Indiana financial adviser accused of trying to fake his death in a plane crash.

The world's second largest steel firm, Nippon Steel, slashes production as demand from carmakers tumbles.

Reuters - Asian stocks fell 2 percent to a 1-1/2-month low on Friday, weighed by poor corporate results in the technology sector, while the U.S. dollar drifted higher as investors sought refuge from the deteriorating global economy.

Reuters - Pfizer Inc , the world's largest drugmaker by revenue, is in talks to acquire rival Wyeth in a deal that could be valued at more than $60 billion, the Wall Street Journal reported on its website.

Reuters - Toyota Motor Corp (7203.T) is considering cutting full-time employees in Britain and North America, in an unprecedented step for the world's largest auto maker, a company source familiar with the matter said.

Global stocks were mixed after worse-than-expected U.S. unemployment and housing data cut off a rebound that saw investors buying up beaten-down bank stocks.

The UK enters recession for the first time since the early 1990s, after the economy shrank by 1.5% in the last quarter of 2008.

A Hong Kong brokerage is to buy back some of the Lehman Brothers investments it sold that may now be worthless.

The German chip-maker Qimonda files for insolvency protection just a month after receiving a rescue package.

The volume of UK retail sales rose by a surprise 1.6% in December, but extensive discounting brought down the value of sales.

Pub and brewing company Marston's has said it is absorbing the rising cost of lager to protect its outlets as they battled a 'difficult' market.

Reuters - The spread of economic gloom to company performance pulled equities sharply lower on Friday, driving European equities below last year's lows, while Britain's formal arrival in recession hit the pound again.

Reuters - Pfizer Inc , the world's largest drugmaker by revenue, is in talks to acquire rival Wyeth in a deal that could be valued at more than $60 billion, according to the Wall Street Journal.

Reuters - Oil fell below $43 a barrel on Friday, ending a rally after a larger-than-expected rise in U.S. oil stocks and bearish economic data dampened hopes for a quick U.S. economic stimulus package.

Revenue at the General Electric conglomerate fell 4.8 percent, but results were in line with the company?s December outlook.

Spain's unemployment rate, which is the highest in the eurozone, reached 13.9% in the last three months of 2008.

Four potential sites for new nuclear power stations are proposed as the government begins its process for choosing suitable locations.

Some customers of the NatWest bank may have a new opportunity to reclaim their bank overdraft charges.

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

The EU reintroduces export subsidies for dairy produce, saying the economic downturn threatens many European farms.

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

Reuters - European aerospace group EADS on Friday denied a report that it was preparing for a possible collapse of the 20 billion euro ($25.91 billion) A400M military aircraft program as it tries to renegotiate late delivery penalties.

New data confirmed what economists had assumed, adding to the case for the central bank to take further steps.

The mixed fourth-quarter performance is unlikely to resolve the uncertainty about the outlook for the giant industrial and finance conglomerate.

Weak corporate earnings and disappointing economic news sent Wall Street down sharply in early trading.

The printer and copier maker booked hefty charges for layoffs and other restructuring costs and forecast first-quarter profit below Wall Street expectations.

The oilfield services giant said that its fourth-quarter earnings fell nearly 17 percent as the energy industry pulled back on spending, and the company warned of a rough year ahead.

The company said that it will cut 1,100 jobs over two years and scale back its operations as its fourth-quarter profit fell amid the weak motorcycle market.

President Barack Obama is to meet top Democrats and Republicans to discuss the status of his economic stimulus deal.

The motorcycle manufacturer Harley-Davidson is to close plants and cut 1,100 jobs after reporting worse-than-expected results.

A firm wins a £200m contract which the economy minister says will ensure it continues to provide quality jobs.

Reuters - Wall Street opened lower on Friday, pulled down by worries over corporate profits and outlooks as the global economic slowdown showed no signs of letting up.

BusinessWeek Online - Guest: Dan Thibeault, president and co-founder of Graduate Leverage

BusinessWeek Online - Washington is doing all it can to get money flowing again in the housing sector. At around 5%, 30-year mortgage rates are at levels that haven't been seen in, well, 30 years.

President Barack Obama says Congress is on target to approve his $825bn economic stimulus package by 16 February.

The firm which owns the rights to TV shows such as Postman Pat and Basil Brush has been fined £245,000 the Financial Services Authority

Reuters - Stocks cut losses on Friday with the Nasdaq turning positive, boosted by gains in financials and Google, which reported earnings on Thursday that beat Wall Street's expectations.

Reuters - Pfizer Inc , the world's largest drugmaker, is in talks to acquire U.S. rival Wyeth , sources familiar with the situation said on Friday.

Reuters - Aflac Inc said on Friday it will post quarterly operating earnings in line with its target, sending shares up 18 percent a day after the insurer's stock sank on concerns about securities investments.

President Obama and Congressional leaders from both parties emerged from a meeting on Friday expressing confidence that they would find consensus on stimulus legislation.

The two pharmaceuticals giants are closer to a potential merger, according to people briefed on the matter.

Craig Barrett will retire in May after more than three decades at the company. Jane Shaw, who has served on Intel?s board since 1993, will succeed Mr. Barrett, the company said.

US conglomerate General Electric reports a 44% drop in quarterly profit and warns that 2009 will be 'extremely difficult'.

Reuters - The Nasdaq rose 1 percent on Friday, helped by Internet leader Google , which reported earnings that beat expectations after the bell on Thursday.

Reuters - Republicans in the House of Representatives told President Barack Obama on Friday the best way to boost the economy would be to cut income taxes, rather than the Democratic plan which puts more focus on government spending.

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Euro membership allowed some countries to gloss over economic problems that have now roared to the fore.

Interest rates are falling, but potential borrowers face higher costs.

President Obama and Congressional leaders from both parties emerged from a meeting on Friday expressing confidence that they would find consensus on stimulus legislation.

Wall Street tried to shake off fears about weak corporate performance and the stability of the financial system, as technology stocks posted a strong performance.

Reuters - Stocks rebounded on Friday, pulled higher by resource shares that gained along with commodities, while beaten up financials were lifted by hopes of further government lifelines.

Reuters - Pfizer Inc , the world's largest drugmaker, is in talks to buy Wyeth in a deal possibly valued at more than $60 billion, sources familiar with the situation said on Friday, sending Wyeth shares up 12.8 percent.

As Britain officially falls into recession, unemployment in Spain hits an eight-year high.

The S&P 500 and the Nasdaq ended higher, but the Dow fell short as Wall Street tried to shake off fears about weak corporate performance and the stability of the financial system.

While the middle years of the Bush term were mostly positive, it began and ended with recessions.

A month?s rent just for eyeglasses? Taking care of your eyesight doesn?t have to cost so much.

Dealing with banks? bad assets should be high on the list now. So how do we go about it?

Oil prices rise as hopes that Opec is complying with its production cuts outweigh new gloomy economic news.

Oilfield services giant Schlumberger reports a fall in quarterly profits and announces job cuts.

Recession means some may not finish their training

Reuters - Wall Street ended a difficult week with the broad S&P 500 closing higher on Friday as investors bought beaten-up financials on hopes of further aid from Washington, offsetting a disappointing outlook from General Electric that kept the Dow under water.

Euro membership allowed some countries to gloss over economic problems that have now roared to the fore.

As Britain officially falls into recession, unemployment in Spain hits an eight-year high.

European winners and losers under Barak Obama

Reuters - Pfizer Inc , the world's largest drugmaker, is in talks to buy Wyeth in a deal possibly valued at more than $60 billion, sources familiar with the situation said on Friday.

Reuters - Freddie Mac , the second-largest provider of funding for U.S. home loans, on Friday said expected fourth-quarter losses may force it to draw up to $35 billion from the U.S. Treasury to maintain a positive net worth.

AP - Mortgage finance company Freddie Mac said Friday it will need an additional $30 billion to $35 billion in government aid as it copes with losses on loans the company backed during the U.S. housing bubble.

Interest rates are falling, but many potential borrowers may not qualify for the best rates.

Shareholders are angry over Kenneth D. Lewis?s acquisition of Merrill Lynch, and the lawsuits are flying.

In a year when the sins of a few are being paid for by many, it is appropriate for people at all income levels to adopt some survival techniques.

There?s more to consider in a refinancing loan than the advertised interest rate.

The Xerox Corporation said fourth-quarter profit shrank to nearly nothing, hurt by restructuring costs and a decline in demand from Russia.

Businesses often focus too narrowly on selling, instead of on what consumers need.

There are signs of an ethical makeover under way within the medical device industry, a field that has been troubled by the issue of undisclosed financial ties between companies and physicians.

The government?s new roles in the financial industry create a problem for firms that want to be heard in Washington.

The purchase of Wyeth by Pfizer for more than $60 billion could be completed over the weekend.

President Obama stepped into the effort to assemble an economic recovery package, seeking to quell criticism and to retain leadership on an initiative that could define his term.

The major indexes finished about 2 percent lower for the week, their third week of losses.

The mixed fourth-quarter performance is unlikely to resolve the uncertainty about the outlook for the giant industrial and finance conglomerate.

First Centennial Bank of Redlands, Calif., was seized by a state regulator, the third bank in the nation to fail this year.

To avoid downsizing as the economy declines, law firms are migrating to where creditors fight over corporate remains.

Craig Barrett will retire in May after more than three decades at the company. Jane Shaw, who has served on Intel?s board since 1993, will succeed Mr. Barrett, the company said.

The satellite television provider picks up well-regarded series from other networks.

An administrative law judge has upheld a decision barring three former executives of the company from federal health programs for 15 years.

An executive pitched in at the Four Seasons for a historic day in Washington.

In an effort to help newspapers through the recession, President Nicolas Sarkozy said the government would double the amount of advertising it did in print and online newspapers.

The idea of declaring bankruptcy may be unpleasant, but for many people right now it could be the best option.

Consider a couple of reasons it may be wise for people who are not paying their housekeeper or baby sitter?s taxes to reconsider.

Hundreds of charities are caught in the credit crunch as skittish banks reduce or cut off their lines of credits.

Dow Chemical is in talks to close its proposed $15.4 billion buyout of Rohm & Haas, the specialty chemicals maker, after federal regulators approved the deal, the companies said.

Harley-Davidson said its fourth-quarter profit fell 58 percent and that it would cut back some operations and reduce motorcycle shipments this year to cope with a decline in demand.

The oilfield services company reported a 17 percent decline in fourth-quarter earnings and said it would cut 5,000 jobs worldwide during the first half of the year.

Dealing with banks? bad assets should be high on the list now. So how do we go about it?

Reuters - Toyota Motor Corp (7203.T) plans to reduce vehicle production in Japan by nearly 60 percent in April, a level that could force it to cut its domestic workforce amid slumping car sales, Tokyo Shimbun newspaper reported on Saturday.