GDP shrank at a 3.8% rate in the fourth quarter, and would've been worse except the U.S. counts unwanted inventory as growth.
Former Maryland Lt. Gov. Michael Steele was elected the first African-American chairman of the Republican National Committee.
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Exxon Mobil's quarterly net fell 33% to $7.82 billion as oil prices sank, but full-year profit set a record. A one-time gain and wider refining margins boosted Chevron's results.
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Some ex-Merrill executives invested money with Madoff, making them the highest-level victims known of his alleged scheme.
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In a surprise move, Roche made a new, lower offer for Genentech, going directly to shareholders after failing to reach an agreement with Genentech directors on price.
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As the economy soured, advertisers began offering a stark contrast to the slapstick and branding-buffing of past games.
Bloomberg said Wall Street firms are expected to lose $47.2 billion for 2008 and even more in 2009, and may force New York to cut some 20,000 jobs.
A day after China and Russia blamed the U.S. for the financial crisis, Europeans are taking comfort in their kinder, gentler version of capitalism.
Auto makers provide a little-recognized side benefit to industrial America: spurring suppliers to innovate. But that role may not continue.
Zimbabwe's opposition party agreed to form a unity government with President Mugabe, breaking the monthslong deadlock over how to share power.
Top economic officials are discussing new efforts to help banks while trying to mitigate the cost to taxpayers. Obama stepped up his rhetorical attacks on the same banks his officials are planning to aid.
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Hitachi and NEC announced sweeping job cuts after the Japanese electronics giants forecast steep losses for the year.
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Office of Thrift Supervision officials allowed five banks to improperly report capital infusions in a way that can make banks appear healthier.
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Considering a new big-screen TV ahead of Super Bowl Sunday? Retailers' attractive interest-free deals could cost you double, writes Brett Arends.
After visa problems tripped up her first attempt, British singer Lily Allen tries to conquer America.
Wall Street bonuses and sweetheart mortgages: Compare and discuss.
A layoff in one Texas family launched a series of other actions that have rippled through the economy.
Architect Kyu Sung Woo's Vermont retreat blends architectural traditions of New England and Korea.
More restaurants are eliminating busboys to cut costs and shifting those responsibilities to the servers, but it isn't always going smoothly.
In Congress and the boardroom, there's a failure to recognize a new era, writes Peggy Noonan.
A mathematician tries to solve such mysteries as the authorship of "In My Life," sparking controversy among fans.
Laurent Cantet's documentary-style drama "The Class" ignores familiar formulations in favor of a heightened reality.