TOKYO (Reuters) - Japan sank into recession in the third quarter, even before it felt the full force of the financial crisis, and world leaders at a weekend summit gave investors little hope they could rescue the global economy.

Original post by Reuters: Business News

CHICAGO (Reuters) - A package of economic rescue measures agreed by the world’s major governments appeared to fall short of calming investors jangled nerves as the trading week dawned in Asia.

Original post by Reuters: Business News

NEW YORK (Reuters) - Goldman Sachs Group Inc said on Sunday its Chief Executive Lloyd Blankfein and six other top officials will not get bonuses for 2008.

Original post by Reuters: Business News

WASHINGTON (Reuters) - U.S. automakers should consider executive shake-ups if it would ensure congressional backing for a bailout supporters say is needed to prevent industry collapse, an architect of the effort said on Sunday.

Original post by Reuters: Business News

NEW YORK (Reuters) - Life and mortgage insurer Genworth Financial Inc said on Sunday it applied for capital under a U.S. government program after reaching a deal to buy a bank and requesting savings and loan company status.

Original post by Reuters: Business News

CHICAGO (Reuters) - After the world’s major governments agreed to urgently confront the worst global economic crisis in decades, investors waited anxiously to see the markets’ judgment when the trading week begins in Asia.

Original post by Reuters: Business News

REYKJAVIK (Reuters) - Iceland said on Sunday it had reached a deal with several European Union states on how to repay thousands of foreign savers with money in frozen Icelandic accounts, potentially unlocking billions of dollars in aid.

Original post by Reuters: Business News

REYKJAVIK (Reuters) - Iceland said on Sunday it had agreed with several European Union states how to repay thousands of foreign savers with money in frozen Icelandic accounts, potentially unlocking billions of dollars in aid.

Original post by Reuters: Business News

NOVI, Michigan (Reuters) - Some U.S. consumers hit hard by the credit and foreclosure crisis are finding that down-sizing their lender is paying dividends.

Original post by Reuters: Business News

WASHINGTON (Reuters) - A key Republican Senator said on Sunday it was “pretty clear” a $25 billion bailout proposal for U.S. automakers will fail in the U.S. Senate, while Democrats argued saving the industry was critical to the U.S. economy.

Original post by Reuters: Business News