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WASHINGTON (Reuters) - The U.S. economy is in recession and will contract at a faster pace in the fourth quarter, extending the decline into early 2009 as high unemployment crimps consumer spending, a survey showed.

HONG KONG (Reuters) - Asian stocks mostly rose and government bonds cut their gains on Monday, on hopes for more government rescues of limping industries and as long-term investors scooped up cheap shares.

This is the time of year when retail jobs are supposed to be as plentiful as holiday cheer, when stores gear up for the Christmas rush by filling their sales floors with college students, moonlighters and anyone else looking to shore up their income.

In the casino of the housing market, Tom Walters is holding the wrong cards. He's a mortgage broker, so business has been slow, and on his own house, payments have risen to about $6,200 -- too much to handle.

President-elect Barack Obama officially resigned from the Senate yesterday, removing himself from any official role in the lame-duck session of Congress that will convene this week. He also laid more groundwork for the start of his administration by deciding on additional members of his senior...

A viral hit underscores the precariousness of the venture capital business, and the large pension fund Calpers faces possible asset allocation.

RETAIL sales in the September quarter were virtually flat, signalling that more interest rate cuts are on the way amid a decline in consumer confidence, economists say.

If Sen. Hillary Rodham clinton is named the next secretary of state, she and her husband could be positioned to lead a public-private partnership on the global stage unlike any before it, one that experts say would bring with it a host of potential benefits and pitfalls for the new president.

CBI Scotland director Iain McMillan painted a gloomy picture for short-term prospects of growth Picture: Toby Williams

ONE of the most historic names in Scottish financial services is being lost as long-standing investment management firm Bell Lawrie today unveils plans to change its branding