• World stocks slide amid US retailing fears 1/8/2009, 10:45 a.m. EST
LONDON (AP) — World stock markets fell Thursday on mounting concerns about global economic growth as leading U.S. retailers revealed they are feeling the pinch.

• Nonprofit laptop maker forced to cut staff 1/8/2009, 10:44 a.m. EST
CAMBRIDGE, Mass. (AP) — In another sign of the growing financial strain on nonprofit groups, the One Laptop Per Child program is paring its staff in half.

• Ukraine sets conditions for Russian gas transit 1/8/2009, 10:41 a.m. EST
BRUSSELS, Belgium (AP) — Ukraine's natural gas chief says he wants Russia to provide extra fuel to boost the flow of gas before his company can allow Russia to send the fuel back into a freezing European Union.

• Oil prices fall again with jobless claims rising 1/8/2009, 10:38 a.m. EST
VIENNA, Austria (AP) — Crude prices fell again Thursday on more evidence that the global economy is under strain and that demand for energy will fall further.

• UK interest rates cut to lowest since 1694 1/8/2009, 10:37 a.m. EST
LONDON (AP) — The Bank of England on Thursday cut interest rates to the lowest level in its 315-year history, taking it into uncharted territory as it attempts to ward off a prolonged recession.

• Stocks open lower as jitters about retail return 1/8/2009, 10:36 a.m. EST
NEW YORK (AP) — Wall Street's worries about weak consumer spending revived Thursday, sending stocks lower as bad news from Wal-Mart Stores Inc. signaled that even the stronger U.S. retailers struggled during the holiday shopping season. The Dow Jones industrials fell by 100 points.

• Nissan to cut British workforce by 1,200 1/8/2009, 10:28 a.m. EST
LONDON (AP) — Japanese automaker Nissan said Thursday it will slash its British workforce by 1,200 as it lowers production in anticipation of a grim economic year.

• Wal-Mart's same-store sales miss analyst forecasts 1/8/2009, 10:26 a.m. EST
NEW YORK (AP) — Wal-Mart Stores Inc. said Thursday that its December sales at established stores edged upward, but the gain was less than analysts expected and the discounter cut its earnings forecast for the rest of its fiscal year.

• Norway gas field shut down for lifeboat problems 1/8/2009, 10:17 a.m. EST
OSLO, Norway (AP) — Norwegian state-controlled oil company StatoilHydro ASA on Thursday temporarily shut down its Kristin natural gas field after tests revealed problems with a new type of lifeboat installed to help crew escape in emergencies.

• Satyam executives try to reassure wary investors 1/8/2009, 10:13 a.m. EST
NEW DELHI (AP) — Top executives of beleaguered Indian outsourcing company Satyam Computer struggled to reassure investors, employees and clients Thursday after its chairman resigned following an admission he cooked accounts and inflated profits for years.

• Obama warns of dire consequences without stimulus 1/8/2009, 10:11 a.m. EST
WASHINGTON (AP) — President-elect Barack Obama said Thursday the recession could "linger for years" unless Congress pumps unprecedented sums from Washington into the economy, making his highest-profile case yet on an issue certain to define and dominate his early presidency.

• GameStop holiday sales surge, shares jump 1/8/2009, 10:10 a.m. EST
NEW YORK (AP) — In what was a dismal holiday season for many store chains, video game retailer GameStop Corp. proved an exception.

• Kuwait: Confident won't pay Dow Chemical penalty 1/8/2009, 9:58 a.m. EST
KUWAIT CITY (AP) — Kuwait's Commerce and Industry minister says the government of this small oil-rich state is confident it will not have to pay a penalty for withdrawing from a $17.4 billion joint-venture with U.S. giant Dow Chemical Co.

• Dish Network unveils `Slingloaded' TV recorder 1/8/2009, 9:48 a.m. EST
LAS VEGAS (AP) — Satellite TV provider Dish Network Corp. on Thursday unveiled a digital video recorder that can send TV signals to a computer screen or mobile phone.

• EU APNewsAlert 1/8/2009, 9:45 a.m. EST
BRUSSELS, Belgium (AP) — Gazprom says it will pump gas to Europe once monitors are allowed to check Ukraine transit .

• Continuing jobless claims rise more than expected 1/8/2009, 9:40 a.m. EST
WASHINGTON (AP) — The number of people continuing to seek unemployment benefits has risen sharply, according to government data released Thursday, indicating that laid-off workers are having a harder time finding new jobs as the recession enters its second year.

• Retailers report dismal December sales 1/8/2009, 9:39 a.m. EST
NEW YORK (AP) — Retailers reported dismal sales figures for December on Thursday as even Wal-Mart Stores Inc., one of the bright spots in the industry, finally buckled under the pressures of the deteriorating economy.

• US: NATO might offer gas help to Europe 1/8/2009, 9:35 a.m. EST
BRUSSELS, Belgium (AP) — A senior U.S. diplomat says NATO may have to help alleviate the effects of natural gas shortages in member states if the dispute between Ukraine and Russia continues to hinder deliveries.

• From Kuwait to Bahrain, financial woes mount 1/8/2009, 9:27 a.m. EST
CAIRO, Egypt (AP) — Kuwait's biggest investment bank on Thursday said it had defaulted on the majority of its debt while Bahrain's two biggest commercial banks saw their ratings outlook downgraded, as the global financial meltdown pummeled an oil-rich Gulf Arab region that months ago was the focus of a much-hyped economic boom.

• Brazil stocks mixed in early trading 1/8/2009, 9:22 a.m. EST
SAO PAULO, Brazil (AP) — Brazil's stocks are mixed early as investors digest losses in Asia and Europe along with negative domestic news.

• Walgreen will cut 1,000 management jobs in 2009 1/8/2009, 9:22 a.m. EST
NEW YORK (AP) — Drugstore operator Walgreen Co. says it will cut 1,000 jobs this year, or about 9 percent of corporate management, through a combination of voluntary buyouts and layoffs.

• UK builder Persimmon warns outlook challenging 1/8/2009, 9:16 a.m. EST
LONDON (AP) — British homebuilder Persimmon outlined a plan to conserve cash and reduce its debt Thursday, and warned that the short-term outlook for the British housing market was challenging.

• Sarkozy, Merkel, Blair call for new capitalism 1/8/2009, 9:11 a.m. EST
PARIS (AP) — The head of Europe's biggest economy said Thursday that world leaders should be looking at the massive U.S. deficit and other economic imbalances, not just problems caused by financial markets, as they debate a new global order.

• Fewer visitors to China last year despite Olympics 1/8/2009, 9:07 a.m. EST
BEIJING (AP) — The number of travelers to China fell 2 percent last year, government data showed, reflecting the effects of heavy security measures enacted before the Beijing Olympics and the global economic crisis.

• PBS chief pushes for digital conversion action 1/8/2009, 9:04 a.m. EST
UNIVERSAL CITY, Calif. (AP) — PBS chief Paula Kerger said it's inexcusable that people seeking coupons for the looming digital TV conversion are being put on a waiting list, and she called for immediate federal action.

• Macy's will shutter 11 stores in 9 states 1/8/2009, 9:02 a.m. EST
NEW YORK (AP) — Department-store operator Macy's Inc. said Thursday it will close 11 underperforming stores in nine states — affecting 960 employees — and lowered its forecast for the fourth quarter after one of the weakest holiday seasons in years.

• Stores Macy's is closing 1/8/2009, 9:02 a.m. EST
(AP) — Department-store operator Macy's Inc. is closing 11 underperforming stores in nine states. Here is a list of which ones are closing:

• Dell to slash Ireland work force, shift to Poland 1/8/2009, 8:59 a.m. EST
DUBLIN, Ireland (AP) — U.S. computer maker Dell Inc. announced Thursday it will slash its Irish work force and shift its European manufacturing operations to Poland in a move certain to undermine Ireland's recession-hit economy.

• Dell to slash Ireland work force, shift to Poland 1/8/2009, 8:55 a.m. EST
DUBLIN, Ireland (AP) — U.S. computer maker Dell Inc. announced Thursday it will slash its Irish work force and shift its European manufacturing operations to Poland in a move certain to undermine Ireland's recession-hit economy.

• Cathay shares fall sharply on fuel hedging loss 1/8/2009, 8:46 a.m. EST
HONG KONG (AP) — Shares in Cathay Pacific Airways Ltd. fell sharply Thursday after Asia's third-largest carrier said it could lose nearly $1 billion from hedging its jet fuel costs, adding to the toll on global airlines from bad bets on oil prices.

• Bank of Japan starts emergency lending program 1/8/2009, 8:42 a.m. EST
TOKYO (AP) — The Bank of Japan said Thursday it will provide 1.22 trillion yen ($13 billion) in emergency loans to financial institutions as part of a new program to spur lending to the country's businesses.

• South Korea says risk of recession has increased 1/8/2009, 8:35 a.m. EST
SEOUL, South Korea (AP) — South Korea is moving closer to recession, the government said Thursday, as key indicators worsen amid a shrinking global economy.

• APNewsAlert 1/8/2009, 8:31 a.m. EST
WASHINGTON (AP) — New claims for unemployment benefits drop unexpectedly while continuing claims rise.

• Wagoner: No need to cut benefits to retirees 1/8/2009, 8:29 a.m. EST
NEW YORK (AP) — General Motors Corp. Chief Executive Rick Wagoner said Thursday the Detroit automaker can survive long-term without cutting benefits to retired workers.

• Pink slips pile higher amid deepening recession 1/8/2009, 8:24 a.m. EST
WASHINGTON (AP) — Pink slips are piling higher as companies scramble to cut costs even deeper to survive the country's economic and financial storms.

• US, European interbank lending rates drop again 1/8/2009, 8:15 a.m. EST
LONDON (AP) — The cost of three-month loans between banks fell further Thursday ahead of key interest rate decisions.

• Fiat announces white-collar layoffs 1/8/2009, 8:15 a.m. EST
MILAN, Italy (AP) — The Italian automaker Fiat Group SpA's layoff plans are now hitting white-collar workers.

• UK fraud office starts Madoff investigation 1/8/2009, 8:10 a.m. EST
LONDON (AP) — Britain's Serious Fraud Office opened an investigation into the British business operations of Bernard Madoff on Thursday, raising the prospect that the alleged Wall Street fraudster could face criminal charges here.

• European economic confidence sinks to record low 1/8/2009, 7:52 a.m. EST
(AP) — Confidence in the EU economy sank to a record low in December, the European Commission said Thursday, while official data confirmed the 15-nation euro zone officially slipped into recession in the third quarter.

• Microsoft's Ballmer: Windows 7 is nearly final 1/8/2009, 7:36 a.m. EST
LAS VEGAS (AP) — Microsoft Corp.'s next version of the Windows operating system is almost ready for prime time. That's one message Chief Executive Steve Ballmer delivered on the eve of the official opening of the International Consumer Electronics Show.

• FTSE 100 down 44.16 at 4,463.35 1/8/2009, 7:29 a.m. EST
LONDON (AP) — Share prices on the London Stock Exchange were lower Thursday.

• Commerzbank issues government-backed bond 1/8/2009, 7:04 a.m. EST
BERLIN (AP) — Commerzbank AG will issue the first bond backed by the German government's multibillion-euro stabilization package, the bank said Thursday.

• EU proposes euro3.1 billion loan for Latvia 1/8/2009, 6:58 a.m. EST
BRUSSELS, Belgium (AP) — The European Commission proposed a euro3.1 billion (US$4.2 billion) loan Thursday to help Latvia out of its financial crisis.

• German exports dive in November 1/8/2009, 6:56 a.m. EST
BERLIN (AP) — Germany saw its sharpest monthly drop in exports in November since the country's reunification in 1990, official estimates showed Thursday, underlining the urgency of government efforts to put together a new multibillion-euro stimulus plan for Europe's biggest economy.

• Stock futures mixed ahead of economic data 1/8/2009, 6:52 a.m. EST
NEW YORK (AP) — Wall Street headed for a mixed open Thursday, bracing for what are expected to be more bleak data on employment and retail sales.

• Sarkozy, Merkel, Blair call for new capitalism 1/8/2009, 6:49 a.m. EST
PARIS (AP) — French President Nicolas Sarkozy hit out Thursday at financial speculators for having "perverted" capitalism, which he said should be overhauled with a new role for governments and moral values.

• Ssangyong board meets amid strike threat 1/8/2009, 6:49 a.m. EST
SEOUL, South Korea (AP) — Troubled Ssangyong Motor Co.'s board of directors met in China on Thursday as the company's labor union mulled when to count ballots that could lead to a strike.

• China's Lenovo to cut 11 percent of work force 1/8/2009, 6:46 a.m. EST
BEIJING (AP) — Shares of Lenovo Group tumbled Thursday after the world's fourth-largest computer maker warned it expects a loss for its latest quarter and will lay off 11 percent of its work force and cut executive pay.

• Review: The Polaroid camera is back, in digital 1/8/2009, 6:41 a.m. EST
LAS VEGAS (AP) — A strange little ritual used to go along with Polaroid cameras. The shooter would grab the print as it came out of the camera and wave it in the air, as if that would stimulate the chemicals and make the picture appear faster. It didn't. Yet it felt dumb to just stand there, waiting for the picture to develop.

• European economic confidence sinks to record low 1/8/2009, 6:40 a.m. EST
BRUSSELS, Belgium (AP) — Confidence in the EU economy sank to a record low in December, the European Commission said Thursday, while official data confirmed the 15-nation euro zone officially slipped into recession in the third quarter.