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The economy shrank at its fastest pace in nearly 27 years in the fourth quarter, government data showed on Friday, sinking deeper into recession as consumers and business cut spending.

Top-ranked Rafael Nadal outlasted fellow Spaniard Fernando Verdasco 6-7 (4), 6-4, 7-6 (2), 6-7 (1), 6-4 Friday to reach the Australian Open final after the longest match in the tournament's history.

Hit by falling oil prices, Exxon Mobil reported a 33% drop in quarterly profit Friday, but its annual profit of $45.22 billion set a record for any U.S. company.

Sales of new homes plunged to the slowest pace on record last month as the hobbled homebuilding industry posted its worst annual sales results in more than two decades.

The government says the number of people receiving unemployment benefits has reached an all-time high as layoffs spread throughout the economy.

Americans’ mood about the economy darkened further in January, sending a widely watched barometer of consumer sentiment to a new low.

The FAA says Hartsfield-Jackson Atlanta International Airport is the nation's busiest airport for the fourth year in a row.

'Paul Blart' Does Part in Record MLK WeekendLed by an exceptional start for Paul Blart: Mall Cop and solid ones for My Bloody Valentine 3-D, Notorious and Hotel for Dogs, the weekend as a whole was not only a new Martin Luther King, Jr. high but the highest-grossing on record for the month of January.