The Fed signaled in minutes from its December meeting that the recession could be longer and deeper than officials thought just weeks ago.

Dow Chemical pledged to pursue legal and other avenues to remake itself after a failed plastics venture.

An oil trader at Vitol whose market moves came under review is leaving the firm.

Bank of America's CEO said he and his top executives should get no 2008 bonus.

Jardine Enterprises and product-safety regulators expanded a baby-crib recall because of wooden slats and spindles that can break and entrap and strangle infants.

Former AIG chief Greenberg said he might have considered bidding for the firm's HSB unit if he had known it would be sold for $742 million.

Lyondell Chemical Co., the U.S. arm of chemical giant LyondellBasell Industries, filed for Chapter 11 bankruptcy protection Tuesday.

Roland Burris arrived at the Capitol to be sworn in as a member of the 111th Congress, but Obama's appointed successor to the Senate was turned away.

Aluminum maker Alcoa unveiled deeper work-force cuts, more plant closures and a 50% reduction in capital spending, citing the impact of the economic downturn.

Bank of America CEO Lewis is recommending that he and his top lieutenants receive no bonuses for 2008. The bank tapped Dan Sontag to succeed Bob McCann as chief of the Merrill Lynch brokerage force.