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Alcoa to cut global workforce by 13%4:34pm: Aluminum manufacturer to trim payroll by 13,500 employees by end of 2009. more
2:50pm: U.S. households worth more than $1 million have lost nearly a third of their assets in the financial crisis, a report says. more
3:51pm: Famed distressed opportunity investor says it is only a matter of time before his firm acquires a depository institution. more
12:17pm: One of top 100 richest people in world, Adolf Merckle ran into deep financial trouble with his companies amid the economic crisis. more
3:16pm: In the minutes from its last meeting, the central bank said it expects GDP to decline in 2009 and unemployment to rise into 2010. more
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