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AP - After more than two weeks of virtual silence on the economy, President-elect Barack Obama's transition team burst on the scene with new ambition and urgency Sunday, demanding swift passage by Congress of a massive two-year spending and tax-cutting recovery program.
AP - Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market's collapse.
Reuters - From the 200 jobs cut at Air New Zealand to the 52,000 heading out the door at Citigroup, unemployment is on the rise around the world, straining government efforts to corral the credit crisis.
Reuters - Baxter , C.R. Bard , Teva Pharmaceutical and Express Scripts are four health-care stocks likely to outperform in the coming year, even if the global economy remains depressed, according to a report in the November 24 edition of Barron's.
Reuters - President-elect Barack Obama on Sunday prepared to announce his top economic team as he worked on a stimulus plan designed to lift the country out of its worst financial crisis in decades.
Reuters - U.S. President-elect Barack Obama may consider delaying a campaign promise to roll back tax cuts on high-income Americans as he works on a huge stimulus plan to counter the worst economic crisis the world has faced in decades.
Reuters - The United States, China, Japan and 18 other economies in Asia and the Americas pledged quick and decisive action on Sunday to prevent a severe global economic downturn.
AP - Cash or credit? For more Americans, who have already maxed out their credit cards or are just trying to manage their spending better in the tough economy, the answer is increasingly the old-fashioned one.
AP - This holiday season, cash is in vogue again as consumers — maxed out on credit cards or trying to stick to a budget — are buying what they can actually pay for. Stores like J.C. Penney Co., Wal-Mart Stores Inc. and Target Corp. are noting a decline in credit card use as an overall form of payment, in favor of cash or debit cards.
AFP - US president-elect Barack Obama was set to unveil his economic team amid the global financial crisis, his transition office said Sunday as a top advisor confirmed Timothy Geithner had been tapped for Treasury.
Reuters - Black Friday, the traditional start to the U.S. holiday shopping season, means more to retailers this year as they struggle to win over consumers with a recession looming.
Reuters - President-elect Barack Obama has chosen seasoned policymakers Timothy Geithner and Lawrence Summers as his two top economic lieutenants to direct the fight to rescue the economy and stem the worst financial crisis in more than 70 years.
Reuters - President-elect Barack Obama will announce the members of his economic team at a news conference in Chicago at 11 a.m. CST (1700 GMT) Monday, his transition office said.
Reuters - Speaker of the U.S. House of Representatives Nancy Pelosi said on Sunday that Congress could put together an economic stimulus package of several hundred billion dollars that should also contain tax cuts.
Reuters - President-elect Barack Obama may consider delaying a campaign promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday.
Politico - President-elect Obama views his choice for Treasury secretary, New York Federal Reserve President Tim Geithner, as a reformer with experience in international crisis, a top aide said Sunday.
Reuters - An influential U.S. Senate Democrat said on Sunday a large economic stimulus package of up to $700 billion was needed to lift the American economy out of its current downturn.
AP - German Chancellor Angela Merkel urged companies Sunday not to slash jobs as a result of the global financial crisis, warning that businesses will not be able to rebound once the turmoil eases.
AFP - New York Federal Reserve president Timothy Geithner has been selected to become US Treasury Secretary amid the global financial crisis, a key advisor to president-elect Barack Obama said Sunday.
AFP - US president-elect Barack Obama Saturday announced plans to create 2.5 million new jobs as he forged ahead in his bid to shore up the flagging economy ahead of his January inauguration.
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