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Toyota, Honda slash U.S. production on fears of low demand

Japanese Toyota Motor Corp. and Honda Motor Co. are cutting U.S. production more as auto sales are forecasted to drop significantly in 2009.

Record crowds, record coverage for Obama's inauguration

Barack Obama's inauguration next Tuesday will be one that breaks numerous records in one go.

Obama ran for president for his daughters and all children

On Tuesday in an open letter to his two young daughters, US president-elect Barack Obama said Thursday that he entered the race for the White House because of what I want for you and for every child in this nation.

Bank of America gets $20 Billion investment from U.S.

Bank of America on Friday said it has secured a $20 billion government investment to assist in acquiring brokerage Merrill Lynch. The government will also cover a majority of losses linked to Merrill's assets.

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News and Deals For the Global Traveler

As Brazil becomes one of the world?s major players in investment opportunity, airlines are vying to offer new flights and routes. American Airlines launched service from Miami (MIA) to Recife (REC) and Salvador da Bahia (SSA) on Nov. 2 and to Belo Horizonte (CNF) on Nov. 4. Delta Air Lines inaugurated daily flights from Atlanta (ATL) to Rio de Janeiro (GIG) and Manaus (MAO) in late November, alo.....

GM expects lowest U.S. car sales since '82

General Motors Corp. reduced its vehicle sales forecast on 2009 Thursday citing ongoing uncertainty of global market conditions.

OzForex Daily Commentary - 16/01/2009

Australian Dollar: Yesterday's employment data showed a rise in the official unemployment rate from 4.4% to 4.5% with the economy shedding 1,200 jobs in December. The

Eric Holder at Senate Confirmation Hearing

The Senate Judiciary Committee on Thursday began questioning Eric Holder, as he braced himself for a Republican grilling him over some controversial decision in his confirmation hearing, his path to becoming the nation's first African-American, President-elect Barack Obama's choice for attorney general.

Crude oil drops below $35 a barrel as OPEC predicts low demand

Crude oil plunged below $35 a barrel on Thursday after OPEC said demand for its crude will drop and reports in the U.S. showed employment claims increased.

China has highest internet users in 2008

China now has the highest number of internet users in the world and had the largest growing online population of 2008, a report suggests.

Canada in recession until 3Q '09: Conf. Board

Canada's economy is expected to stay in recession for three quarters this year and contract 0.5 percent annually in 2009, according to forecasts by the independent, non-profit Conference Board of Canada,

9/11 Suspect tortured by US: Pentagon

Just a few days before President-elect Barack Obama is expected to direct the closure of the controversial detention facility, a report within the Bush administration has said the US tortured one of the alleged 9/11 planners held at Guantánamo Bay.

China: World's 3rd richest economy for 2007

On Wednesday, a new data record showed that China's economy grew to become the world's third-largest in 2007 reflecting the countries amazing ability to overcome yet another milestone in the country's stunning rise in the global pecking order.

PHOTOS: Lisa Marie Presley shows off twin girls

The King's Graceland has gotten a whole lot cuter!

A Troubled Stroke in Economic Recovery Portrait

Two weeks into the new year, a report of retail decline was another stroke in a patch of turbulent recession as monetary policy makers and the government acknowledge the imperfections and work to fashion a portrait of economic recovery.

Majority Say Confidence in Federal Gov't Fell in the Last Year

Sixty-two percent of voters say their confidence in the U.S. federal government has fallen in the last twelve months, according to a new Public Strategies Inc/Politico poll.

OzForex Daily Commentary - 15/01/2009

Australian Dollar: In what was a very volatile session in Asia yesterday the Aussie dollar climbed back from its open near 66 cents to post a late afternoon high slightly above the

World Bank hires TCS to do Satyam's work, Wipro sees red

At a time when the World Bank appears to be on a banning frenzy, Tata Consultancy Services (TCS) has pulled off the impossible by bagging direct contracts from the global anti-poverty agency.

Website for 'best job in the world' caves under flood of traffic

Interest in what promoters call the best job in the world, has sparked so much interest that the website of the would-be employer caved under pressure.

Bin Laden: The United States will not be as powerful as it used to be

Osama bin Laden, the leader of al-Qaeda, is reported to have issued a video recording calling on Muslims to wage jihad against Israel over its offensive in Gaza.

Nortel Networks files for bankruptcy, $1 billion debt

Nortel Networks Corp., North America's biggest maker of telephone equipment filed for bankruptcy protection as it faced a drop in orders from telecom companies amid the global economic crisis.

Polanski will does not plan to return to US

The woman at the center of the three-decade-old sex allegations against Oscar-winning film-maker Roman Polanski has filed court papers seeking dismissal of the charges against him.

Tough judgments required to close Gitmo

The closure of Guantanamo Bay prison will not be an easy one with many diverse prisoners from die-hard jihadists to innocent men swept up in war.

Madoff to attend hearing of prosecutors who want him in jail

Bernard Madoff, 70, accused of a $50 billion fraud is expected to attend a Manhattan Federal Court on Wednesday for a hearing of U.S. prosecutors who seek his imprisonment.

Oil plunges below $37 on news that crude stockpiles increased

Crude oil plunged below $37 a barrel after the U.S. government reported crude stockpiles jumped the highest since August 2007 as demand for fuel shrinks.