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The first local home builder to seek protection from creditors in U.S. Bankruptcy Court has become the first to exit.

Jerry Yang, Yahoo's CEO, told employees in a memo on Monday that he is stepping down. (YHOO) (MSFT)

Citigroup Inc. said Monday it will eliminate approximately 53,000 more jobs in the near future as part of its wide cost-cutting efforts. (C)

The Denver office of Economic Development (OED) has released the draft of an action plan for using $6.1 million in federal funds to buy and redevelop foreclosed homes in Denver, the office said Monday.

Yahoo Inc. said late Monday afternoon that co-founder and Chief Executive Jerry Yang will resign. (YHOO) (MSFT) (GOOG)

PT Medco Energi Internasional is seeking investors from the Middle East to take part in the development of an oil and gas field in Libya.

Russia's Gazprom is considering U.S. majors Exxon Mobil and ConocoPhillips for its liquefied natural gas projects in Russia's Arctic Yamal region.

Iran is ready to set up a joint firm with Russia and Qatar but has no plans to export Iranian gas to Qatari plants so that it could be turned into liquefied natural gas.

Petrobras has postponed construction tenders for 28 deep-sea drilling rigs to 2009.

Waiting is the name of the game this holiday shopping season, as a national survey reveals that 72 percent of consumers have completed less than 10 percent of their shopping, compared with 2.2 percent of shoppers who say they have finished.