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Employment drops in a pink slip blizzard (AP)

Sat, 02 Feb 2008 01:42:05 -0500

AP - In a shower of pink slips, U.S. employers cut jobs last month for the first time in more than four years, the starkest signal yet that the economy is grinding to a halt if it hasn't already toppled into recession.

Fidelity says lays off 250 employees (Reuters)

Fri, 01 Feb 2008 19:00:31 -0500

Reuters - Fidelity Investments, the world's biggest mutual fund firm, has made a second round of layoffs due to the ongoing restructuring at the group and axed about 250 jobs, a spokeswoman said on Friday.

Fidelity says lays off 250 employees (Reuters)

Fri, 01 Feb 2008 19:00:31 -0500

Banks join to rescue Ambac: sources (Reuters)

Fri, 01 Feb 2008 18:28:52 -0500

Reuters - A group of large banks has joined together to find ways to shore up Ambac Financial Group Inc , a large bond insurer battered by the global credit crunch, two people briefed on the talks said on Friday.

Sputtering auto sales in January reflect weak economy (AFP)

Fri, 01 Feb 2008 17:16:25 -0500

AFP - Automakers faced an uphill climb in the US market in January, as weak economic conditions and consumer caution put a dent into sales, company reports showed Friday.

Exxon and Chevron earnings soar on record oil prices (Reuters)

Fri, 01 Feb 2008 16:11:46 -0500

Reuters - Exxon Mobil Corp said on Friday record oil prices propelled its quarterly and yearly profits to the highest-ever levels by a U.S. company.

Wal-Mart prepares small U.S. stores to fend off Tesco (Reuters)

Fri, 01 Feb 2008 15:25:21 -0500

Reuters - Wal-Mart Stores Inc is actively working to open its first small-scale grocery stores in Arizona, according to city planning officials, as the world's largest retailer looks to fend off competition from British supermarket rival Tesco .

Wal-Mart prepares small U.S. stores to fend off Tesco (Reuters)

Fri, 01 Feb 2008 15:25:21 -0500

Wall Street stocks swing wildly (FT.com)

Fri, 01 Feb 2008 14:30:10 -0500

FT.com - US stocks were volatile on Friday as traders weighed up the first fall in US employment in 4½ years against a possible rescue plan for troubled bond insurers.

Job losses in January raise recession fears (Reuters)

Fri, 01 Feb 2008 13:31:17 -0500

Reuters - U.S. employers cut payrolls for the first time in 4-1/2 years in January, the Labor Department said on Friday in a report that showed the slowing economy was at growing risk of sliding into recession.