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.
Reuters - The U.S. stock market could gain as much 12 percent in 2009 from current levels, despite a recession that will last at least into the first half of the year, a top executive with asset manager BlackRock said on Tuesday.
Reuters - New orders received by U.S. factories plunged a much-greater-than-expected 4.6 percent in November, the fourth straight monthly decline and a sign the sharp drop in manufacturing is deepening the recession, a government report showed on Tuesday.
Reuters - Dow Chemical Co will take legal action against Petrochemical Industries Co of Kuwait and is seeking more than $2.5 billion in damages from the Kuwaitis for backing out of a joint venture agreement, the largest U.S. chemical maker said on Tuesday.
Reuters - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.
