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Today on Reuters 

A trader walks past the JP Morgan booth on the floor of the New York Stock Exchange September 18, 2008. U.S. stocks extended gains on Thursday as a report showing an unexpected rise in a gauge of U.S. mid-Atlantic factory activity in September, calming worries about the economy. REUTERS/Brendan McDermid

Jobs in jeopardy 9:48 pm ET

As the economy officially hits a recession JP Morgan will cut 9,200 Washington Mutual jobs, while Bank of America and Merrill Lynch combined will axe 10,000 workers.  Full Article | Full Coverage 

Recession started in December 2007
Blog: The economy in focus
Tata's Corus to cut hours of 4,600 staff
Video: Recession hits Wall Street
A trader walks past the JP Morgan booth on the floor of the New York Stock Exchange September 18, 2008. U.S. stocks extended gains on Thursday as a report showing an unexpected rise in a gauge of U.S. mid-Atlantic factory activity in September, calming worries about the economy. REUTERS/Brendan McDermid

Jobs in jeopardy 9:48 pm ET

As the economy officially hits a recession JP Morgan will cut 9,200 Washington Mutual jobs, while Bank of America and Merrill Lynch combined will axe 10,000 workers.  Full Article | Full Coverage 

Recession started in December 2007
Blog: The economy in focus
Tata's Corus to cut hours of 4,600 staff
Video: Recession hits Wall Street
President-elect Barack Obama introduces his national security team as Secretary of State nominee Sen. Hillary Clinton and National Security Adviser nominee retired Marine General James Jones look on during a news conference in Chicago December 1, 2008.

A team of rivals 4:30pm ET

Barack Obama named former rival Hillary Clinton as secretary of state and said Robert Gates would remain defense secretary.  Full Article | Factbox 

Analysis: Defense policy under Gates
Scenarios: Homeland Security issues
A path far from Bush unilateralism
How women see Clinton appointment
Slideshow: The odd couple

Top News

the day ahead: tuesday

A row of Volvo cars await shipment outside the main factory in Gothenburg, Sweden, September 23, 2008. REUTERS/Bob Strong
Auto slump seen rolling on

Undercut by tight credit and a weak economy, November U.S. auto sales are expected to have dropped by some 30 percent from a year earlier.  Factbox 

John Kemp
Uncertainty paralyzes system
John Kemp

Even as the Fed has added liquidity and boosted bank reserves, the credit creation process has remained stalled as banks struggle to identify borrowers willing and able to repay in a wide range of future economic conditions.  Commentary 

to

Commodities

Commodity Last Pct Chg Trade Date/Time
Oil 46.5 -3.16% 02 Dec 2008 00:52 EST
Gold 766.0 -1.12% 02 Dec 2008 01:01 EST
Photo
Crisis in Credit

Follow the financial crisis using our interactive video timeline. Track the global impact on our interactive map.  Full Coverage 

Photo
The case for piracy

As far as illicit businesses with low risk and high rewards go, it doesn't get much better than piracy on the high seas. Columnist Bernd Debusmann examines why.  Commentary 

Shoppers pass a window display at the high-end luxury goods maker Gucci along 5th Avenue in New York, November 19, 2008.
Holiday Shopping

Retailers and shoppers are adjusting to the impact of the financial crisis, especially during the busy holiday season. Take a closer look.  Full Coverage 

Pictures

View Slideshow 
View Slideshow View SlideshowSlideshow  
Lance Armstrong's career
Monday, 1 Dec 2008 06:33pm EST 
As seven-times winner Lance Armstrong announces he will make a Tour de France comeback next year, a look back at his career.
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Video

Play Video Play VideoVideo 
Clinton joins Team Obama

Dec 1 - President-elect Barack Obama announced a national security team that is led by his onetime chief Democratic rival, Hillary Clinton.  Play Video

 
U.S. officially in a recession
Bernanke keeps finding new tools
More Video...

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