Business : Top Stories
U.S. budget deficit seen topping $1 trillion in 2009
(Reuters)
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.
Alcoa to slash jobs and sell 4 units
(Reuters)
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.
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.
Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
Court backs $631 million judgment against Boeing
(Reuters)
Reuters - A California court has approved a jury verdict against Boeing Co , which means the plane maker and defense contractor must pay former customer ICO Global Communications (Holdings) Ltd $631 million in damages, according to ICO on Tuesday.
AFP - FTSE 100 stocks continued their New Year bounce on Tuesday as investors looked forward to possible interest rate cuts and further government aid in 2009.
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
Madoff scandal, SEC role under scrutiny
(AP)
AP - Two more months of mortgage payments and retiree Allan Goldstein says he'll be broke, just another victim in what may be the biggest Ponzi scheme in history.
NewsFactor - In yet another move to get Apple's iPhone into more retail outlets, Best Buy on Tuesday became the first retailer to offer refurbished iPhone 3Gs at stores nationwide.
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