Business with Reuters - International Herald Tribune

Jin Lee/Bloomberg News

A Citibank branch at the headquarters of Citigroup in New York.

Citigroup posts big loss and announces a breakup plan

By MATTHEW SALTMARSH AND ERIC DASH

Citigroup capped a devastating 2008 by announcing Friday that it would split into two entities and that it had posted an $8.29 billion loss for the fourth quarter.

U.S. Senate releases second half of bailout fund

By DAVID M. HERSZENHORN

The 52-42 Senate vote gave Barack Obama a $350 billion war chest, just as Democrats in the House unveiled an $825 billion fiscal recovery plan.

Anglo Irish Bank shares suspended after nationalization

Bloomberg News

The government seized control of the lender in the wake of a scandal that forced the resignations of its chief executive officer and chairman.

U.S. prices rose just 0.1 percent last year

By JACK HEALY

Consumer prices advanced at their slowest pace in 50 years in 2008 as the weakening economy suppressed demand for cars, clothing, electronics and a host of goods and services.

MARKETS

U.S. stocks rise on bank news

A relieved Wall Street advanced Friday as investors focused on big banks' plans to fix their balance sheets and took in stride billion-dollar losses reported by Bank of America and Citigroup.

ECB cuts rates and hints at more to come

By CARTER DOUGHERTY

Jean-Claude Trichet, president of the European Central Bank, speaking at a news conference on Thursday.

Jean-Claude Trichet expressed alarm at the speed at which the euro zone economy was slowing.

JPMorgan Chase reports slim profit in tough quarter

By MICHAEL J. DE LA MERCED AND ERIC DASH

The bank posted more than $2.8 billion in losses on a range of business, from trading and corporate lending to credit card and mortgage lending as it confronted the worst housing and job markets in decades.

Toyota and Honda to cut more output while Subaru expects a loss

Reuters

The announcements come as a spreading global recession dampens demand in mature markets and puts the brakes on sales in emerging markets.

Inquiry started of financier who invested with Madoff

By LESLIE WAYNE

The New York attorney general has issued subpoenas to determine whether J. Ezra Merkin defrauded universities and charities when he invested their money with Bernard Madoff.

Filing accuses Reserve Fund executives of lying

By DIANA B. HENRIQUES

State regulators in Massachusetts have accused top executives of the fund of lying to shareholders about the safety of their investments - and then giving big shareholders first crack at avoiding losses.

To those who gave much, much will be given

By DAVID D. KIRKPATRICK

Alan Solomont, left, at a meeting with Obama, then at the start of his campaign.

For the top fund-raisers for President-elect Barack Obama's inaugural committee, next week's itinerary is packed with a string of lavish private events.

SPOTLIGHT

From a 'virtual unknown' to one of the most powerful men in Hollywood

By SONIA KOLESNIKOV-JESSOP

Jim Gianopulos, a co-chief executive of Fox Filmed Entertainment, is looking forward to next summer, when his company will release a string of sequels, including the fourth in the "X-Men" franchise.

Jim Gianopulos has built his career in Hollywood by embracing opportunities - and by not being afraid to be exhilarated or embarrassed.

Europe makes new threat to Russia and Ukraine on gas supplies

By STEPHEN CASTLE

After days of fruitless diplomacy, the European Commission threatened to review its entire relationship with Russia and Ukraine unless there is a breakthrough this weekend that leads to the restoration of gas supplies to Europe.

TALKING BUSINESS

Health isn't a private issue when you're a legend

By JOE NOCERA

Steve Jobs's decision to reveal more about his health may not belong entirely to him, not when so much of Apple's business relies on his personality as chief executive.