LONDON, England - December 23, 2008 - The technical definition of a recession was drawn up on the back of an envelope and was a piece of political spin, a former ambassador to the U.S. has claimed.

WASHINGTON - December 22, 2008 - The desperate straits of many U.S. homeowners showed in new data released on Monday, suggesting efforts to help them are having limited success.

WASHINGTON - December 22, 2008 - Hedge funds will be allowed to borrow from the Federal Reserve for the first time under a landmark $200bn program intended to support consumer credit.

LONDON, England - December 22, 2008 - The government has been accused of trampling on individual liberties by proposing wide-ranging new powers for bailiffs to break into homes and to use “reasonable force” against householders who try to protect their valuables.

MORAINE, Ohio - December 21, 2008 - General Motors Corp.’s financial woes have GM workers around the country worrying about what life without GM might be like. The 1,080 hourly workers at the automaker's sport utility plant in this Dayton suburb are about to find out. For them, life without GM begins Tuesday.

LOS ANGELES, Kalifornia - December 20, 2008 - A year ago, a day-laborer center adjacent to a Home Depot here teemed with Latin American immigrants who showed up and found a sure day's work painting, gardening or hauling.

RIYADH, Saudi Arabia - November 18, 2008 - Saudi Arabia has no plans to contribute extra funds to the International Monetary Fund (IMF) or any other institution, Finance Minister Ibrahim Al-Assaf said Saturday.