President-elect Barack Obama is inheriting the worst economy in decades and says he'll need to "invest an extraordinary amount of money" to get it back on track.

Stocks were set for a lower open Wednesday, with the weak employment situation in investors' focus.

The number of announced job cuts in December fell 8.4% from a month earlier, but were nearly four times the total of the same month in 2007, according to a report released Wednesday.

The U.S. economy is likely to deteriorate further this year and unemployment will rise into 2010, according to the latest forecasts from the staff of the Federal Reserve.

Aluminum producer Alcoa Inc. said Tuesday it will slash its global workforce by 13%, or 13,500 jobs, by the end of the year as a way to remain competitive during the global economic recession.

What will AT&T do after the iPhone?

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Nice work if you can get it: Hanging out at the Palm Beach Country Club and introducing friends to an exclusive and seemingly safe place to stash your cash - Bernard L. Madoff Investment Securities.

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In a disastrous year for auto sales here's who came out on top and who got thrown under the wheels.

Putting on a show to impress a prospective employer may seem harmless, but the people you do business with deserve to see what they're signing up for.

There's no such thing as a perfect portfolio. Value-conscious investors like me are acutely aware of this fact. Sometimes you come across a good stock trading at a great price but there's simply no room in your portfolio at the time. In other cases you feel like a kid with his nose stuck to the windowpane of a Ferrari dealership: You spot a wonderful business you'd love to own, but you can't justify paying the price being asked.

While it may be hard to feel sympathy for America's millionaires, they're feeling the economic crunch, too - nearly a third of their assets have disappeared in the downturn, according to a consulting firm's report released Tuesday.

Corporate officers were making reassuring statements about financial prospects just days before Armageddon hit their companies -- and investors' portfolios. Here's some prominent cases.

After falling in love with the Nintendo Wii's physically demanding sports games, serial entrepreneur James Park, 32, started to ponder other ways to combine video games and fitness. The result: a $99 lipstick-size gadget that clips on to your clothes and uses a motion sensor to track everything from steps taken to sleep patterns and calories burned.

So president-elect Barack Obama wants to make the deployment of broadband Internet networks part of a sweeping stimulus package that he hopes would create new jobs, update the nation's hospitals, schools and other facilities, and lift the United States out of recession.

Apple unveiled a change in the pricing structure for its iTunes music downloads Tuesday, ending the 99- cents-a-song pricing that has helped iTunes dominate the industry.

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You've likely never heard of ARM, a small U.K. company that doesn't advertise or put its name on any products. But chances are that as you read this, you're within sight of an "electronic brain" that ARM designed -- its handiwork lives in items as diverse as GPS navigators, camcorders and the Nintendo DS.