Reuters - The new board of embattled Satyam Computer Services has asked Citigroup and BNP Paribas , the company's bankers, to help it with immediate funding needs, a top board member told the Economic Times newspaper.

Reuters - The European economy is sliding deeper into recession and the fourth quarter of last year was 'catastrophic,' European Union Industry Commissioner Guenter Verheugen said on Sunday.

AP - One of the largest privately held U.S. homebuilders said Sunday it is looking at all options to meet its funding needs and has reportedly shed jobs companywide to cope with the economic slump.

Reuters - An Indian metropolitan court in the southern city of Hyderabad has ordered the former chairman, managing director and chief financial officer of embattled Satyam Computer Services be taken into police custody for four days from Sunday.

Reuters - The United States cannot afford to turn its back on trade as it tries to dig its way out of a deep recession, President-elect Barack Obama's choice to be U.S. trade representative said on Sunday.

AP - The government began Sunday to distribute spending vouchers to all Taiwanese, hoping the move could spur a buying spree across the island to help prop up the slowing economy.

Reuters - The U.S. Congress is likely to help cities' struggling economies not only through the stimulus bill it is expected to pass soon but through measures to boost the municipal bond market, Rep. Barney Frank told a mayors' meeting Sunday.

Reuters - President-elect Barack Obama will push bankers to resume lending to businesses and consumers to help put the ailing economy back on track, but things will get worse before they get better, his top aides said Sunday.

AP - Zalmay Khalilzad steps down as U.S. ambassador to the United Nations when Barack Obama is inaugurated on Tuesday, confident the United States even at its weakest moments remains the strongest nation in the world because of its unique combination of economic, military, political and cultural power.

AFP - As the US economy faces its worst crisis since the Great Depression, the change at the White House ushering in Barack Obama may provide a much-needed psychological lift to sentiment, analysts say.

AP - The Australian economy will slide into recession this year after an unprecedented 17 years of growth, an economic consultant said Monday.

AP - Billionaire investor Warren Buffett says the U.S. is engaged in an 'economic Pearl Harbor.'