Stimulus aside, Obama vows future budget restraint
WASHINGTON (AP) -- To a public wary of government spending, President-elect Barack Obama is offering a salve with his massive economic stimulus package: the promise of long-term fiscal discipline....

Ukraine: Russia stops sending gas to Europe
KIEV, Ukraine (AP) -- Ukrainian officials said Wednesday that Russia had cut off all gas supplies through pipelines crossing Ukrainian territory, the latest move in a devastating pricing dispute between the two neighbors that has already left a number of countries without gas....

Alcoa to cut 13 percent of global work force
PITTSBURGH (AP) -- Aluminum producer Alcoa Inc. is cutting roughly 13 percent of its global work force by the end of the year as it slashes costs in the face of a deteriorating world economy....

World markets mixed as Indian stocks plunge
HONG KONG (AP) -- Asian markets were mixed Wednesday as Japan's key index rose for a seventh day but Indian shares tumbled after the chairman of major outsourcing company Satyam Computer admitted to falsely inflating profits for years. European markets opened lower....

Oil dips as traders weigh demand signs, Gaza clash
SINGAPORE (AP) -- Oil prices dipped below $48 a barrel Wednesday in Asia as investors weighed tensions in the Middle East and more bad U.S. economic news suggesting slowing crude demand....

Stocks end higher on hopes for economic rebound
NEW YORK (AP) -- Wall Street brushed off more bad economic news Tuesday to finish with a moderate advance that left broad stock indexes at their highest levels in two months....

Economy in grip of recession, reports show
WASHINGTON (AP) -- Anyone looking for a bright spot in the recession might have pointed to a reading Tuesday of the nation's office workers, retailers and other service industries, which contracted at a slower-than-expected pace in December....

Financial crisis takes human toll
BERLIN (AP) -- His spirit broken by financial fears, German billionaire Adolf Merckle took his own life this week - becoming the latest high-profile casualty of a global economic crisis that already has claimed the lives of executives in Europe and the U.S....

LyondellBasell units file for bankruptcy
DALLAS (AP) -- The U.S. arm of chemical giant LyondellBasell Industries has filed for bankruptcy as the recession continues to weaken demand for its products, which are used in everything from cars to detergents....

After sales, will shoppers pay full price again?
NEW YORK (AP) -- Shoppers are getting used to those 75 percent off sale signs, and that's bad news for merchants who worry they will also have to quickly slash prices on spring goods to attract customers....