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Latest news entries via source reuters: top news
Madoff victims may get some cash within a month: report
(Reuters) - Investors who lost money in Bernard Madoff's alleged $50 billion fraud might begin recovering some of their funds as soon as next month, Securities Investor Protection Corp, President Stephen Harbeck told Bloomberg in an interview.
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Obama says deficit may approach $1 trillion
WASHINGTON (Reuters) - President-elect Barack Obama said on Tuesday he expects to inherit a U.S. budget deficit approaching $1 trillion and his administration would have to make some tough budget choices.
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Germany adds to global job woes after Alcoa cuts
LONDON/BERLIN (Reuters) - Global job woes deepened on Wednesday as Germany reported its first rise in unemployment in almost three years, a day after U.S. aluminum giant Alcoa said 15,000 jobs would go.
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Gaza city fighting resumes as truce for aid ends
GAZA (Reuters) - Clashes between Israeli forces and Palestinian gunmen resumed in the city of Gaza on Wednesday after the expiration of a three-hour truce to allow in humanitarian aid, residents said.
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Apartment rents show first decline in over 5 years
BOSTON (Reuters) - Average rents for U.S. apartments fell in the fourth quarter, as a sharp economic downturn and rising unemployment left Americans unwilling to pay higher prices, according to data released on Wednesday.
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Private sector cut 693,000 jobs in December
NEW YORK (Reuters) - Private-sector employers shed 693,000 jobs in December, a private employment service said on Wednesday in a report that was far worse than expected and pointed to more ugly news from the government's jobs data due later this week.
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Alcoa to slash jobs and sell 4 units
NEW YORK (Reuters) - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
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Lawyer says Madoff cooperating with probes
NEW YORK (Reuters) - Bernard Madoff is cooperating with government investigations into his alleged $50 billion fraud, one of his lawyers said on Tuesday, as prosecutors sought to revoke his bail and jail him.
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German tycoon Adolf Merckle commits suicide
BLAUBEUREN, Germany (Reuters) - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.
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Gates projects Pentagon needs $70 billion more for wars
WASHINGTON (Reuters) - U.S. Defense Secretary Robert Gates estimates the Pentagon will need about $70 billion more to pay for the wars in Iraq and Afghanistan this year, on top of the $65.9 billion already approved by Congress.
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