Money / Markets

Wall Street looked poised to get a break from the steep sell-off of the past two days following a report that Citigroup Inc. might put itself up for sale.

Honda Motor Corp. said Friday it will cut production in Japan and Europe by 61,000 vehicles, as it continues to grapple with slowing global demand.

JPMorgan Chase & Co. is shedding about 10 percent of its investment bank staff in an effort to better weather the global economic slowdown.

Citigroup Inc. shares tumbled below $5 a share Thursday to their lowest level in more than 15 years, a sign that a Saudi prince's decision to boost his stake in the bank has failed to galvanize confidence among increasingly anxious investors.

Detroit's embattled automakers have two weeks to show a skeptical Congress how a multibillion-dollar lifeline will help them keep the industry from imploding.

President George W. Bush, struggling to get ahead of a global financial crisis, hopes to win more converts for an action plan designed to demonstrate that governments have the will and the means to halt the turmoil.

With no end in sight to economic bad news, President George W. Bush is about to ensure that millions of laid-off workers won't see their unemployment checks disappear as the year-end holidays approach.

European and Asian stock markets rebounded Friday as expectations of a recovery on Wall Street prompted investors to scoop up battered financial and energy shares.

A rebound in world stock markets supported oil prices Friday, with crude creeping off a 3-year low to trade above $50 a barrel.

Dell Inc.'s fiscal third-quarter profit sank 5 percent as concerns about the deepening economic crisis crimped corporate spending on computers and other technology products.

Japan's central bank kept its already low interest rates on hold Friday but warned of a prolonged economic slump at home and abroad.

With the U.S. all but certainly in a recession and many skittish consumers hesitant to buy even a Honda Accord, it would seem the last thing anyone would need is a $400,000 Rolls-Royce Phantom.

Terry Fujimoto sees the future of agriculture in the exposed roots of the leafy greens he and his students grow in thin streams of water at a campus greenhouse.

LONDON (Reuters) - Euro zone demand is plunging and price pressures vanishing, business surveys showed on Friday, while central bankers weighed the bleak prospect of deflation.

Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season.

Citigroup Inc. shares tumbled below $5 a share Thursday to their lowest level in more than 15 years, a sign that a Saudi prince's decision to boost his stake in the bank has failed to galvanize confidence among increasingly anxious investors.

The $25 billion rescue plan for the auto industry, desperately sought by Detroit's beleaguered Big Three, collapsed Thursday as Congress drew the line at one more bailout and Democrats said they wouldn't even consider it until the companies produced a convincing plan for rebuilding their once-mighty industry.

LONDON (Reuters) - Oil rose above $50 a barrel on Friday, rebounding from a three and half year low and buoyed by rallies in Europe and Asian equities on talk that China may cut interest rates later in the day.

NEW YORK (Reuters) - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.

BANGALORE (Reuters) - A onetime union leader is a top contender to head the U.S. Federal Aviation Administration, the Wall Street Journal said, citing people close to President-elect Barack Obama's transition team.