With little public debate, Medicare has expanded its coverage for cancer treatments lacking F.D.A. approval.

Officials have offered little detail on potentially explosive political questions about how much to push down interest rates on mortgages versus municipal bonds or corporate debt.

Stocks wavered after early optimism over the news of a drug company merger and better-than-expected home sales.

AP - The nation's retailers had a rough 2008, but this year will likely be even scarier, according to a sales forecast released Tuesday from the world's largest retail trade organization.

The engineer of the New Deal skillfully calmed Americans but had difficulty creating jobs.

Japanese shares led Asian markets higher, climbing 4.9 percent after Tokyo launched a $16.7 billion scheme on Tuesday to help firms threatened by the financial crisis.

A New York businessman sought by federal authorities in connection with a suspected $380 million Ponzi scheme has been arrested and charged with one count of mail fraud.

Japanese shares soar after the government says it will use public funds to help companies struggling with the downturn.

Nomura reports heavy losses for the final three months of 2008 as it struggles to cope with the impact of global financial crisis.

Toymaker Hornby says its full-year results will meet the lower end of forecasts, helped by a late surge in Christmas sales.

Insurer Friends Provident says sales fell 11% last year because of the economic slowdown and financial market turmoil.

Reuters - Japan plans to use public money to help the companies hardest hit by the financial crisis, while newly confirmed U.S. Treasury Secretary Timothy Geithner vowed to act swiftly to rescue the U.S. economy.

Reuters - Japanese shares led Asian markets higher, climbing 4.9 percent after Tokyo launched a $16.7 billion scheme on Tuesday to help firms threatened by the financial crisis.

Japan on Tuesday outlined a plan to inject state funds into ailing companies in exchange for stakes in them.

In the 1930s, President Franklin D. Roosevelt calmed Americans but had difficulty creating jobs.

Timothy F. Geithner was sworn in as Treasury secretary after a 60-34 Senate vote.

Nomura reports heavy losses for the final quarter of 2008 as it struggles to integrate parts of failed US bank Lehman Brothers.

Japanese shares rise after the government says it will use public funds to help companies struggling with the downturn.

German industrial giant Siemens says it is on track to meet its profit target this year despite the slowdown.

China promises to co-operate in the fight against fake goods, in response to a highly critical WTO ruling.

Beer firm Adnams warns that its 2008 profits would be 'substantially' lower than 2007 as the economic downturn hits sales.

Reuters - Nomura Holdings Inc (8604.T), Japan's largest brokerage, posted a record $3.8 billion quarterly loss, hit by costs related to buying Lehman Brothers' operations, soured trades and exposure to Iceland and accused swindler Bernard Madoff.

Reuters - German industrial conglomerate Siemens stuck to its profit outlook, focusing on sourcing more components from low-cost countries after fiscal 2009 started well despite the knock-on effects of the credit crisis.

A US hedge fund made a profit of at least £90m ($127m) by correctly betting that shares in struggling RBS would fall.

Canada's minority Conservative government is to unveil a new budget which it says will boost the slowing economy.

The pound rallies slightly against the dollar, pushing back above $1.40, as UK banking shares continue to rise.

High Street sales fall for the 10th month in a row in January, a study by the CBI business group finds.

Rail unions are urging the government to stop train companies from cutting jobs to save money in the downturn.

Focus says credit insurers have almost completely pulled the cover offered to suppliers of the DIY firm.

A County Tyrone engineering company says it will make 90 people redundant as part of a review of operations.

Reuters - S&P 500 stock futures pointed to a higher open on Tuesday as hopes for swift action from new Treasury secretary Timothy Geithner to prevent the recession from worsening offset fears of weak earnings.

Reuters - Specialty glass maker Corning Inc said its quarterly profit fell sharply due to a significant decline in demand for glass for televisions and computer monitors, and said it would cut about 3,500 jobs.

Reuters - DuPont Co posted a bigger-than-expected fourth-quarter loss on Tuesday, hurt by restructuring-related charges, a widening global recession and a slump in consumer spending, and the chemical maker lowered its 2009 earnings outlook.

Reuters - Delta Air Lines , the world's largest airline, reported a quarterly loss on merger costs and fuel hedge losses.

The Standard & Poor?s/Case-Shiller 20-city housing index fell by a record 18.2 percent from November 2007, the largest decline since its inception in 2000.

The country?s second-largest telecommunications provider earned $1.24 billion in the fourth quarter as it added wireless and broadband subscribers.

A slump in energy and mining stocks offset the renewed confidence in the financial sector and a small recovery in German business confidence.

The airline said it took a substantial write-down related to employee stock awards and was not able to fully benefit from the decline in oil prices because of fuel hedges.

The company reported a $629 million loss for the fourth quarter, reflecting a hefty restructuring charge, and lowered its earnings forecast due to weak industrial demand.

The drug maker rebounded from a loss in a charge-laden quarter a year earlier and beat Wall Street?s profit forecast.

The commercial and personal property insurer reported that fourth-quarter profit dropped 25 percent to $801 million as investment income fell 37 percent.

The data storage company said fourth-quarter profit fell 45 percent, hit by one-time restructuring expenses, but its adjusted results topped expectations.

The company reported fourth-quarter profit of $293.3 million, easily topping Wall Street?s expectations as it benefited from higher volumes.

The insurance company Standard Life has become the latest to delay investors taking money out of its property funds.

Reuters - Stocks opened higher on Tuesday, buoyed by earnings that were not as dire as some had feared and hopes for swift action from new Treasury secretary Timothy Geithner to prevent the recession from worsening.

Reuters - Prices of single-family homes plunged a record 18.2 percent in November from a year earlier, indicative of a housing market that is still in the throes of a deep recession, according to the Standard & Poor's/Case-Shiller Home Price Indices.

Reuters - Verizon Communications Inc's quarterly net profit rose, but growth in its mobile phone business slowed and traditional wireline customers continued to disconnect as the recession took a toll.

Reuters - Corning Inc posted weaker-than-expected quarterly results and outlook on Tuesday due to a significant decline in demand for glass for televisions and computer monitors, and said it would eliminate up to 4,900 jobs to cut costs.

William Dudley, who oversaw domestic open market and foreign exchange trading operations at the Fed, succeeds Timothy F. Geithner, who was sworn in Monday as Treasury secretary.

One of the new Treasury secretary?s first moves on the job is to restrict financial institutions from lobbying for bailout money.

The New York attorney general said that he has subpoenaed the former Merrill Lynch chief over bonuses paid out by the firm just before it was taken over by Bank of America.

The Senate Banking Committee is holding a hearing to look into Bernard L. Madoff?s reputed Ponzi scheme, how it escaped detection for years and what changes are needed to avoid a repeat.

Stocks advanced in early trading as investors analyzed new housing data and company earnings reports.

With little public debate, Medicare has expanded its coverage for cancer treatments lacking F.D.A. approval.

The steelmaker posted a more than eight-fold jump in fourth-quarter profit, driven by higher prices for pipeline products, but forecast a first-quarter operating loss.

The steelmaker cited the weak economy, soft demand and higher raw material costs.

The company?s fourth-quarter loss totaled $430.6 million as steel demand sank amid the global downturn. It forecast a significant operating loss for the first quarter.

The company said quarterly profit fell 82 percent due to restructuring costs and soft sales of computer printers and ink, but it provided a stronger-than-expected outlook.

The chemical company blamed the loss in the first quarter on a severance charge, writedown and the acquisition of Hercules Inc.

US consumer confidence hits a record low in January, in the face of a raft of difficult economic conditions.

Spanish bank Santander faces action over claims it didn't do enough to prevent losses in funds invested with Bernard Madoff.

US chemical giant Dupont reports a loss but telecoms giant Verizon and chocolate maker Hershey fare better in uncertain times.

US President Barack Obama prepares to try to get Republican backing for his $825bn economic recovery plan.

Severn Trent warns its annual revenues could fall by £25m because of firms using less water in the recession.

Reuters - Stocks edged higher on Tuesday, boosted by standouts in a bleak earnings season, including American Express , but a record low in consumer confidence revived worries over the economy's health.

Reuters - Consumer confidence fell to a record low in January as a downtrodden housing sector and worsening job prospects kept the country in a somber mood.

Reuters - Florida fund manager Arthur Nadel, whose family reported him missing in early January, was arrested on Tuesday on criminal charges of securities fraud, U.S. officials said.

Reuters - Top U.S. regulators defended their oversight of securities markets and said on Tuesday they had probed accused swindler Bernard Madoff's brokerage firm in the past but found no evidence of a massive fraud.

William Dudley, who oversaw domestic open market and foreign exchange trading operations at the Fed, succeeds Timothy F. Geithner, who was sworn in Monday as Treasury secretary.

Top federal regulators told a Senate committee that they had investigated Bernard Madoff?s brokerage firm in the past, but found no evidence of a vast fraud.

Some of Wall Street?s anxiety eased Tuesday after companies including United States Steel and American Express managed to post profits in a difficult recession.

Christian Milton, 61, was convicted last year in a fraud case that authorities say cost shareholders more than $500 million.

Bob Diamond, president of Barclays, becomes the latest boss to decide against attending the World Economic Forum.

An American fund manager reported missing by his family a fortnight ago has been arrested, FBI agents say.

Central and southern European leaders voice strong backing for a major pipeline project that could reduce EU reliance on Russia for gas.

Nomura reports heavy losses for the final quarter of 2008 as it struggles to integrate parts of failed US bank Lehman Brothers.

Reuters - Stocks rose on Tuesday, boosted by standouts in a bleak earnings season, including American Express , but a fall in consumer confidence to a record low in January revived worries over the economy's health.

AP - Treasury Secretary Timothy Geithner is no Hank Paulson when it comes to his personal finances.

The Treasury secretary said he would crack down on lobbying to influence the financial bailout program by companies that are receiving funds.

In a rare move, the president was meeting with the Republican conference in an effort to draw support for his $825 billion economic stimulus plan.

William Dudley, who oversaw domestic open market and foreign exchange trading operations at the Fed, succeeds Timothy F. Geithner, who was sworn in Monday as Treasury secretary.

The New York attorney general said that he has subpoenaed the former Merrill Lynch chief over bonuses paid out by the firm just before it was taken over by Bank of America.

The Standard & Poor?s/Case-Shiller 20-city housing index fell by a record 18.2 percent from November 2007, the largest decline since its inception in 2000.

After months of pleas from unions and executives of Jaguar Land Rover and General Motor?s Vauxhall, Britain joined other governments bailing out their auto industries.

Top federal regulators told a Senate committee that they had investigated Bernard L. Madoff?s brokerage firm in the past, but found no evidence of a vast fraud.

Fourth-quarter profit fell 18 percent and the company said 2009 earnings may miss analyst forecasts as demand slumps for textbooks and for credit ratings from its Standard & Poor?s unit.

Spanish bank Santander faces action over claims it didn't do enough to prevent losses in funds invested with Bernard Madoff.

Thousands of people, mostly from tribes, form a human chain in eastern India in protest at plans to mine bauxite.

US President Barack Obama calls for urgent action on his $825bn (£586bn) economic recovery plan, saying Americans expect it.

Reuters - Stocks rose for the third straight day on Tuesday after companies, including American Express , posted quarterly results that beat expectations, offsetting fresh signs pointing to more trouble in the economy.

Reuters - Discount retailer Target Corp said on Tuesday that it will cut an undisclosed number of jobs in response to the weak economic environment.

In a rare move, the president spent more than two hours meeting with the Republican conference in an effort to draw support for his economic stimulus plan.

Yahoo reported a net loss of $303 million for the quarter on a number of one-time charges and sales were slightly down as more marketers pulled back on spending.

Some of Wall Street?s anxiety eased after companies including United States Steel and American Express managed to post profits in a difficult recession.

With real estate generally in turmoil, medical office buildings are still viewed favorably by lenders, who appreciate the growth prospects of health care.

The telecommunications company said that its earnings increased in the fourth quarter, as the shrinking economy did little to dampen consumer appetites for wireless, Internet and TV service.

The company posted a loss of $209 million, weighed down by a $222 million restructuring charge.

Yahoo says it made a loss in the final three months of 2008 as the economic downturn hits sales of online ads.

Business confidence plummets and the global economy will take at least three years to recover, a survey of top bosses suggests.

Reuters - U.S. stocks climbed on Tuesday, with the S&P 500 and the Nasdaq up for a third straight day as a rare bit of encouraging news on the earnings front from companies, including American Express , offset fresh signs that consumers remain glum.

Reuters - Yahoo Inc posted a stronger-than-expected fourth-quarter profit on Tuesday, after several months of cost-cutting initiatives in the face of a weak advertising market, sending its shares up 3 percent.

Reuters - Moody's Investors Service said on Tuesday that it was putting General Electric Co's top-tier long-term credit ratings on review for a possible downgrade, joining its rival Standard & Poor's in reassessing the U.S. conglomerate's coveted triple-A status.

AP - Treasury Secretary Timothy Geithner is no Hank Paulson when it comes to his personal finances.

With real estate generally in turmoil, medical office buildings are still viewed favorably by lenders, who appreciate the growth prospects of health care.

Sales at Verizon missed the mark of analysts? expectations as layoffs and other cost-cutting took a toll on the telephone and Internet business.

Christian Milton, 61, was convicted last year in a fraud case that authorities say cost shareholders more than $500 million.

The company posted a loss of $209 million, weighed down by a $222 million restructuring charge.

Mexicans living abroad sent home less money in 2008 for the first time on record as the US slowdown hits migrant earnings.

Davos attendees in sombre mood as forum begins

Reuters - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 500 workers as it contends with weaker-than-expected sales.

Reuters - Confidence among leaders of the world's top companies meeting in Davos has nosedived to a new low, with recession and a worsening credit crisis torpedoing faith in corporate prospects.

After months of pleas from unions and executives of Jaguar Land Rover and General Motors?s Vauxhall, Britain joined other governments bailing out their auto industries.

The country outlined a plan to inject state funds into ailing companies in exchange for stakes in them, a move that echoes the partial nationalization of some troubled financial firm in the U.S. and Europe.

Christian Milton, 61, was convicted last year in a fraud case that authorities say cost shareholders more than $500 million.

The number of possible Ponzi schemes being reported to authorities has doubled since last year.

For Democrats, the stimulus bill is also a tool for rewriting the social contract with the poor, the uninsured and the unemployed, in ways they have long yearned to do.

School districts, child care centers and university campuses would receive $150 billion in new federal spending in the economic stimulus package that is scheduled for a vote in Congress on Wednesday.

In a rare move, the president spent more than two hours meeting with the Republican conference in an effort to draw support for his economic stimulus plan.

An eclectic group, the board of Bank of America is under scrutiny for the way it has handled overseeing the bank?s chief executive, Kenneth D. Lewis.

The firing of Doug Allen, the executive director of the Screen Actors Guild, could mean a return to long-stalked talks on a labor contract.

Bristol-Myers Squibb?s current strategy is to move away from mass-market drugs into more expensive drugs for rarer diseases. But more than half its sales depend on three drugs alone.

Advertisers that have purchased commercial time on networks during the Super Bowl are pondering changes to the ads they plan to run in those spots on account of the economy.

Companies that charge writers to publish are growing while many mainstream publishers are losing ground.

Epix, the Paramount Pictures, MGM and Lionsgate-backed premium movie channel, will launch online in May, having not yet found a television distribution deal.

Large corporations looking for cash are turning to sale leaseback deals to free up cash by becoming tenants of the real estate they formerly owned.

A group called Dating a Banker Anonymous offers support to women whose romantic relationships have suffered from the economic downturn.

The revenues yielded by New York?s tax incentives for film and television production more than cover their costs, a study found.

After regulators refused to let it raise homeowner rates by nearly 50 percent, Florida?s largest private property insurer said it would shutter all its business in the state.

European regulators have been investigating Intel?s business practices since the start of the decade, after a complaint by a rival, Advanced Micro Devices.

Arthur Nadel, whose family reported him missing in early January, was arrested Tuesday on criminal charges of securities fraud, federal officials said.

The bank said it was offering 1.3 billion euros for private customers who were exposed to the Madoff fraud. It did not mention institutional customers.

The world?s financial crisis should not turn into a crisis of capitalism in which government intervention and protectionism swamp the creative potential of free markets.

While it does well by several yardsticks, the plan fails to reflect the reformist thinking that President Obama presented in his campaign and neglects projects that could make a difference.

The falling profits were caused by the sale last year of one of Siemens?s businesses, but the sale helped boost the company?s revenues.

The losses were an improvement over the previous year?s results when the company recorded a charge of more than $2 billion for securities losses.

The specialty glass maker Corning announced the cuts on Tuesday as it posted a sharp drop in quarterly profit.

A one-time revamping charge negatively impacted the company?s results, but even without the charge the company failed to meet Wall Street?s expectations.

An acquisition-related gain helped boost the company?s balance sheet.

Excluding charges, the data storage company?s results beat Wall Street estimates.