UK retailer Marks & Spencer to cut 1,230 jobsBritish retail industry stalwart Marks & Spencer Group PLC said Wednesday it will cut 1,230 jobs and close 27 of its stores in a drive to reduce costs as the retail sector continues to struggle
European stocks take a pause from New Year rallyEuropean stock markets fell Wednesday after a mixed performance in Asia as investors took profits on solid New Year gains, though sentiment remains relatively upbeat as markets look through grim ec
Russia stops all gas supply to Europe via UkraineRussia has shut off all its gas supplies to Europe through Ukraine—the latest move in a pricing dispute that has reduced or halted fuel deliveries to a dozen countries during a winter cold snap.<
Stimulus aside, Obama vows future budget restraintTo a public wary of government spending, President-elect Barack Obama is offering a salve with his massive economic stimulus package: the promise of long-term fiscal discipline.
Oil dips as traders weigh demand signs, Gaza clashOil prices dipped below $48 a barrel Wednesday in Asia as investors weighed tensions in the Middle East and more bad U.S. economic news suggesting slowing crude demand.
Alcoa to cut 13 percent of global work forceAluminum producer Alcoa Inc. is cutting roughly 13 percent of its global work force by the end of the year as it slashes costs in the face of a deteriorating world economy.
Alcoa to cut 13 pct of global work forceAlcoa Inc., the world's third-largest aluminum maker, said Tuesday it will cut 13,500 jobs, or 13 percent of its work force, and slash spending and output to cope with the global economic slowdown.
Stocks end higher on hopes for economic reboundWall Street brushed off more bad economic news Tuesday to finish with a moderate advance that left broad stock indexes at their highest levels in two months.
Financial crisis takes human tollHis spirit broken by financial fears, German billionaire Adolf Merckle took his own life this week—becoming the latest high-profile casualty of a global economic crisis that already has claimed t
Stock futures dip after Alcoa cuts jobs, outputWall Street headed for a lower open Wednesday, sobered by aluminum producer Alcoa Inc.'s decision to slash jobs and production to navigate through the global downturn.
World markets mixed as Indian stocks plungeAsian markets were mixed Wednesday as Japan's key index rose for a seventh day but Indian shares tumbled after the chairman of major outsourcing company Satyam Computer admitted to falsely inflatin
Ukraine: Russia stops sending gas to EuropeUkrainian officials said Wednesday that Russia had cut off all gas supplies through pipelines crossing Ukrainian territory, the latest move in a devastating pricing dispute between the two neighbor
Most Asian markets extend New Year's rallyAsian stocks extended their New Year's rally Wednesday, with Japan's index up nearly 2 percent, on hopes that stimulus measures from a new U.S.
LyondellBasell units file for bankruptcyThe U.S. arm of chemical giant LyondellBasell Industries has filed for bankruptcy as the recession continues to weaken demand for products made from chemicals.
Economy in grip of recession, reports showAnyone looking for a bright spot in the recession might have pointed to a reading Tuesday of the nation's office workers, retailers and other service industries, which contracted at a slower-than-e
Michigan city considers dyeing Saginaw River greenA man's request to dye the Saginaw River emerald green for St. Patrick's Day has raised a red flag among some officials who say the brown-colored tributary may be better left alone.
Fla. congressman asks Pelosi for football breakThursday's championship football game between No. 2 Florida and No. 1 Oklahoma is obviously a big game, but big enough to shut down Congress? Rep. Cliff Stearns hopes so.
Worker accidentally spills pills into cake batterThe Connecticut Department of Development Services has placed an employee on administrative leave after prescription pills were found in a cake served at a home for disabled people.
