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Wholesale inventories drop 0.6 percent in November

Businesses slashed wholesale inventories for a third straight month in November as sales continued to plummet by record amounts, further evidence of the severe recession gripping the country.

  • Somali pirates reportedly release Saudi tanker

    Somali pirates released an oil-laden Saudi supertanker after receiving a $3 million ransom, a negotiator for the bandits said Friday. The ship owner did not confirm it.

  • Explosion at Ind. furniture plant injures 6

    Authorities say six people were hurt in an explosion and fire at a furniture factory in the southern Indiana city of Jasper.

  • Panel calls for continuing probe of lost pilot

    A Navy review board has recommended that the Pentagon continue investigating what happened to a fighter pilot who was the first American lost in the Persian Gulf War almost 20 years ago, saying it's not yet time to close the case.

  • KB Home's 4Q loss narrows, home demand stays weak

    KB Home, one of the nation's largest homebuilders, reported a sharply narrower fourth-quarter loss on Friday, but home demand weakened significantly and the company expects the industry will continue to struggle in 2009.

  • Brazil bank buying big stake in Votorantim unit

    Brazil's largest state-owned bank announced Friday that it will pay $1.8 billion to acquire a major stake in the finance unit of one of the nation's biggest conglomerates.

  • A nun carries firewood in a monastery near the Bulgarian capital Sofia, Friday, Jan. 9, 2009. Natural gas supplies from Russia through Ukraine to Bulgaria and other parts of Europe remain cut off for a second day, leaving several countries scrambling to secure alternative energy sources to cope with the winter cold snap, and people hard pressed to keep warm.

    Gazprom may resume gas shipments to Europe today

    Russia's Gazprom said it could restart gas shipments to Europe on Friday if an agreement can be signed allowing an EU-led monitoring mission to track gas flows through Ukrainian pipelines. Photo Gallery Available

  • Traders confer on the floor of the New York Stock Exchange Thursday, Jan. 8, 2009

    Stocks decline after mixed unemployment report

    Investors sent stocks sharply lower Friday after the government reported fewer job losses than feared in December, but also an unemployment rate above 7 percent.

  • FTSE 100 down 28.63 at 4,476.74

    Share prices on the London Stock Exchange were lower at midday Friday.

  • In this Dec. 19, 2008 file photo, Illinois Gov. Rod Blagojevich addresses reporters during a news conference in Chicago. The Illinois House should impeach Gov. Rod Blagojevich for abusing his power, mismanaging Illinois government and committing possible criminal acts, a special committee concluded Thursday, Jan. 8, 2009.

    Illinois House convenes to consider impeachment

    The Illinois House has convened and is debating whether to impeach Gov. Rod Blagojevich. Video Available Photo Gallery Available

  • Florida's Tim Tebow celebrates during the fourth quarter of the BCS Championship NCAA college football game against Oklahoma in Miami, Thursday, Jan. 8, 2009. Florida defeated Oklahoma 24-14.

    Sloppy, choppy game leaves Florida as BCS champion

    Tim Tebow gave Florida the jolt it needed, and the Gators toughed out a second BCS title in three years. Their 24-14 win over No. 2 Oklahoma in a choppy, sloppy affair Thursday night made them a national champion. But it likely did little to quiet fans of Southern California, Utah and Texas, all of whom already claimed the top spot. Video Available Photo Gallery Available Audio Available

  • Florida players celebrate with the trophy after winning the BCS Championship NCAA college football game against Oklahoma 24-14 in Miami, early Friday, Jan. 9, 2009.

    AP Top 25: Gators are No. 1, Utes surge to No. 2

    Florida is No. 1 in the AP Top 25. Utah is perfect at No. 2, though not perfectly happy. Texas and Southern California also claimed to be the best - but media voters didn't think so. Video Available Photo Gallery Available

  • China revamping its key southern factory region

    China has updated an ambitious blueprint to aggressively revamp the country's key manufacturing region - a plan that has already helped cause many low-end factories to move or shut down.

  • Sri Lankan army soldiers ride a battle tank as the national flag of Sri Lanka is seen in the background in Tamil Tiger rebels' fallen administrative capital of Kilinochchi, about 240 kilometers (149 miles) north of Colombo, Sri Lanka, Sunday, Jan. 4, 2009. Government troops captured a strategic Tamil Tiger-held town Monday, as Sri Lankans raised flags and held a moment of silence to honor the military as it battles to end the country's 25-year-old civil war.

    Sri Lanka says it captured key rebel base

    Sri Lankan forces captured the strategic Elephant Pass base from the Tamil Tigers on Friday, ousting the rebels from their last stronghold on the Jaffna peninsula and boxing them into a shrinking pocket of land in the northeast. Photo Gallery Available

  • Florida's Tim Tebow (15) carries teammate Percy Harvin after Florida scored a touchdown in the fourth quarter of the BCS Championship NCAA college football game against Oklahoma in Miami on Thursday, Jan. 8, 2009.

    Healthy Harvin gives Gators boost in title game

    Florida receiver Percy Harvin embraced coach Urban Meyer near midfield, got a kiss on the cheek and two congratulatory words.

  • In this Dec. 19, 2008 file photo, General Motors Corp. CEO Rick Wagoner meets with the media after his news conference at the company's world headquarters in Detroit. Wagoner said Thursday, Jan. 8, 2009, the Detroit automaker can survive long-term without cutting benefits to retired workers.

    GM, Chrysler's federal loan deals bar strikes

    Provisions of General Motors' and Chrysler's $17.4 billion in federal loans automatically places them in default if union workers go on strike.

  • Florida's Tim Tebow (15) carries teammate Percy Harvin after Florida scored a touchdown in the fourth quarter of the BCS Championship NCAA college football game against Oklahoma in Miami on Thursday, Jan. 8, 2009.

    Healthy Harvin gives Gators boost in title game

    Florida receiver Percy Harvin embraced coach Urban Meyer near midfield, got a kiss on the cheek and two congratulatory words.

  • Los Angeles Kings center Jarret Stoll, center, shoots as Anaheim Ducks defenseman Brett Festerling (53) and goalie Jonas Hiller (1), of Switzerland, defend during the second period of an NHL hockey game, Thursday, Jan. 8, 2009, in Los Angeles.

    Kings beat Ducks 4-3

    Alexander Frolov scored the go-ahead goal for Los Angeles on a power play after Anaheim rookie Bobby Ryan tied it with three consecutive goals, and the Kings beat the Ducks 4-3 on Thursday night. Photo Gallery Available

  • Arizona State's James Harden (13) drives past Oregon State's Roeland Schaftenaar during the second half of an NCAA college basketball game Thursday, Jan. 8, 2009, in Tempe, Ariz.

    No. 20 Arizona State routs Oregon State 69-38

    James Harden scored 22 points, and No. 20 Arizona State used a smothering zone defense to rout Oregon State 69-38 on Thursday night.

  • Florida's Tim Tebow yells to his teammates during the fourth quarter of the BCS Championship NCAA college football game against Oklahoma in Miami, Thursday, Jan. 8, 2009. Florida defeated Oklahoma 24-14.

    Tebow lifts Gators to national title, 24-14

    Tim Tebow stepped off the bus when he arrived at Dolphin Stadium, made a beeline for a group of Florida fans nearby, pulled off his tie and started riling up the crowd.


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