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• Reuters Business

  • Alcoa to slash jobs and sell 4 units
    NEW YORK (Reuters) - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
  • Stocks rise on stimulus plan hopes
    NEW YORK (Reuters) - Stocks gained on Tuesday on the increased likelihood of a government stimulus package after the release of minutes from the last Federal Reserve policy meeting painted a dismal picture of the U.S. economy.
  • U.S. budget deficit seen topping $1 trillion in 2009
    WASHINGTON (Reuters) - Politicians want American consumers to resume spending to pull the economy out of its tailspin, and the U.S. government is leading by example with a potential $1 trillion deficit in 2009 -- even before a massive stimulus plan.

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• Market Watch

  • Ray Beauchemin's Letters from Abu Dhabi: Gulf states may not speak in one voice but will share a currency
    The situation in the Gaza Strip has dominated headlines around the world since late December, particularly here in the Middle East, where, many in North America might be surprised to know, Arabs and Muslims do not speak with one voice on Palestinian issues.
  • Bank of America CEO sees 2008 results below expectations
    Bank of America Chief Executive Kenneth Lewis warns that 2008 results will fall short of expectations and says executives at the giant lender, including himself, shouldn't get bonuses for last year, according to a report.
  • Apple makes final appearance at Macworld
    Apple Inc. begins its swan song at the Macworld Expo with the absence of Chief Executive Steve Jobs hanging over the proceedings, as the company unveils changes in pricing and copy protections for songs available through its iTunes store.
  • Alcoa slashes jobs, output to cope with tough economy
    Alcoa Inc. says it is cutting 13,500 jobs, closing plants and further curbing aluminum output to conserve cash as it battens down for a lengthy recession.
  • Pound's swift drop gives Americans an edge, for the moment
    The British pound’s swift drop against the U.S. dollar has slashed prices on tourist favorites, such as hotels and pints. But such discounts may not last. Some foreign-currency strategists are now predicting sterling could rebound after its 27% drop against the dollar last year -- its steepest fall in at least 50 years.