Recession | featured news

The U.S. economy suffered its deepest contraction since early 1982 in the fourth quarter, shrinking at a much worse-than-expected 6.2 percent annual rate as exports plunged and consumers slashed spending.

Federal Reserve chairman Ben Bernanke warns Congress that the US recession may last beyond the end of the year.

President Obama is reaching across party lines Monday to host a bipartisan "fiscal responsibility summit" as the government tackles the seemingly contradictory tasks of controlling a soaring federal deficit while spending the country's way out of a deep recession.

The unlikely rebound in retail sales provided a glimmer of hope for the economy, but new claims for jobless benefits showed the labor market still in the grip of a deep recession.

It was the market’s second day of advances in the face of news showing the economy falling deeper into recession.

Paris' haute couture designers turned up their noses at the recession, delivering opulent spring-summer collections last week that obstinately refused to pay the gloomy global economic any mind.

Factory activity contracted at a slower pace in January, data showed on Monday, providing a rare dose of good news for the battered economy, but other reports pointed to a deepening of the recession.

Studios pay millions of dollars to get Academy voters to favor their movies.

Encore hopes to buck the Sin City recession.

CHICAGO (Reuters) - Americans staggered by a massive drop in household wealth are not using the current recession to return to school or just enjoy a temporary break from the work grind, as many did in previous downturns, according to the San Francisco Federal Reserve.