U.K. slashes interest rates to historic low
The Bank of England cut official interest rates by a half a percentage point to 1.5 percent on Thursday, the lowest level in its 315-year history.

Obama: Pass stimulus or recession lasts ‘years'

President-elect Barack Obama warned Thursday that the nation's recession could "linger for years" unless Congress acts to pump huge sums from Washington into the U.S. economy.

NYT: Bush's homeland security setup faces ax

Barack Obama is reportedly preparing to scrap the way President Bush oversaw domestic security in the White House and name a former CIA official to coordinate counterterrorism.

Horrid holiday sales capped by dismal Dec.

Retailers are reporting dismal sales for December, confirming fears that the holiday season was the weakest in four decades.

Ballmer: Windows 7 is nearly final

Microsoft Corp.'s next version of the Windows operating system is almost ready for prime time.

Thousands told to flee Wash. floods

A major north-south interstate in Washington state was cut off and 40,000 people were urged to leave their homes as snowmelt and rain swelled rivers and caused mudslides and avalanches.

On a tight budget? Apply to Harvard

The nation's top colleges have gotten to be so expensive that only the wealthiest families can possibly afford them, especially during bleak economic times like these. Right? Not necessarily. A new report shows that such schools might not be as costly as you think.

Daschle confirmation hearing today

Showing the emphasis that some lawmakers are putting on health care issues this year, former Sen. Tom Daschle will be the first of President-elect Barack Obama's Cabinet choices to undergo a hearing.

Obama assembles powerful West Wing

Barack Obama is assembling a new and influential cadre of counselors just steps from the Oval Office whose power to direct domestic policy will rival, if not exceed, the authority of his Cabinet.