Alcoa to cut 13 pct of global work force (AP)
Alcoa Inc., the world's third-largest aluminum maker, said Tuesday it will cut 13,500 jobs, or 13 percent of its work force, and slash spending and output to cope with the global economic slowdown. LyondellBasell units file for bankruptcy (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. Stocks end higher on hopes for economic rebound (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 (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 (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. Apple cuts copy protection and prices on iTunes (AP)
Apple Inc. is cutting the price of some songs in its market-leading iTunes online store to as little as 69 cents and plans to make every track available without copy protection. After sales, will shoppers pay full price again? (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. Skilling convictions upheld; will get resentenced (AP)
A federal appeals court Tuesday upheld former Enron Corp. CEO Jeff Skilling's convictions for his role in the energy giant's collapse but threw out his 24-year prison term and ordered that he be resentenced. Natural gas shortages slam many European nations (AP)
The Russia-Ukraine natural gas dispute hit Europe with the force of a winter storm Tuesday, cutting or limiting supplies to at least a dozen nations. Tens of thousands of people were left without heat and governments scrambled to find alternate energy sources. Economy trumps geopolitical strife: oil falls (AP)
Oil prices fell Tuesday as fresh signs of a deepening U.S. recession trumped tensions in the Middle East and worries over natural gas shortages in Europe.