Prosecutor wants Madoff jailed
Disgraced financier Bernard Madoff and his wife sent at least 16 watches, a jade necklace and a diamond bracelet to family and relatives, proving he will continue to dissipate what little is left from his US$50 billion fraud, a prosecutor told a judge...

Total gas shutdown
Russia shut off all gas supplies to Europe through Ukraine on Wednesday, leaving more than a dozen countries scrambling to cope during a winter cold snap. Prime Minister Vladimir Putin endorsed the move and urged that international observers be brought...

CBO projects US$1.2t deficit
The federal budget deficit will hit an unparalleled US$1.2 trillion for the 2009 budget year and the United States will likely be in a recession for the entire year, according to a new Congressional Budget Office report. The CBO estimate released...