Reuters - The Dow and S&P 500 fell on Thursday as Wal-Mart's soft December sales and lowered earnings outlook increased worry the recession may be deepening, stretching consumers further.
Reuters - Wal-Mart Stores Inc and other top U.S. retailers delivered disappointing December same-store sales and profit warnings on Thursday, sparking fresh recession concerns that hit stock and currency markets.
Reuters - Accused swindler Bernard Madoff had signed checks totaling more than $173 million in his office desk ready to be sent out before his arrest, U.S. prosecutors said in court papers on Thursday asking a judge to jail him.
Reuters - Spreads on key debt and other financial indicators point to the effectiveness of the Treasury Department's $700 billion financial rescue program, the official in charge of the program said on Thursday.
Reuters - Unemployment benefit rolls swelled to a 26-year high in the last week of December, data showed on Thursday, while retailers, including market leader Wal-Mart, reported poor sales as the year-long economic slump deepened.
AP - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and said they expected other lenders to follow.
Reuters - Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers, three Democratic senators said on Thursday.
AFP - US retailers revealed Thursday the extent of dismal sales in the crucial year-end holiday shopping season, when wary consumers snapped their wallets shut in the face of a deepening recession.
