IRS Offers Leniency Plan For Taxpayers. The Internal Revenue Service announced steps to be more lenient on taxpayers who are unable to pay taxes owed, in recognition of the financial troubles reverberating throughout the economy.
Internal Revenue Service Takes Measures to Lenient on Taxpayers in Financial Trouble. “This is a time where government leaders need to [...]

Erosion in Retail Sales Slowed a Bit in December. Excluding gasoline, total retail sales were down 2 percent in November and 4 percent in December, compared with the same months a year ago. Those numbers include some huge categories, like food and beverages, on which consumers are less likely to cut back even in a [...]

Obama may delay tax-cut rollback for wealthy, consider delaying a campaign promise - to roll back tax cuts on high-income Americans - economic recovery strategy

Examiners with the Federal Reserve have questioned Wall Street counterparties about their exposure to debt and other holdings of Citadel Investment Group.

Oil’s boom is now a whimper, as demand slows and prices that once shattered records plunge. The price of oil has dropped by half in just three months

IMF Clears Strauss-Kahn of Wrongdoing in Affair With Staffer. International Monetary Fund kicked its chief of any wrongdoing in connection with his relationship with a female employee.

ASEM Summit calls for global economy rules for financial system and International Monetary Fund. Asian and European leaders met Saturday for the second day of their biennial summit after calling for new rules for the world’s financial system and a larger role for the International Monetary Fund.

Sony Slashed Annual Profit Forecast on Japanese Yen’s Gains Against Euro. News on Oct. 23 with Technology Business — Sony Corp., the world’s second- largest maker of consumer electronics, slashed its annual profit forecast by 38 percent, citing the stronger yen and a reduced value of stock holdings.
Net income for the year ending March 31 [...]

Dow Jones Industrial Average lowers with global economicla recession: Dow Jones plunges over 500 points as earnings rattle investors, analysts blame sell-off on economic recession.
The 5.7% drop is the index’s biggest loss since last week’s 733-point decline. Analysts blame the sell-off on concerns about a deep recession.
Any hope that improvements in global credit markets would [...]

Ben S. Bernanke, Federal Reserve Offers Cautious Support for Stimulus Package. The chairman of the Federal Reserve, Ben S. Bernanke, said on Monday he supported a second round of additional spending measures to help stimulate economy.