AFP - The chairman of the US Federal Reserve warned the country faced a protracted slowdown Monday, amid forecasts the financial crisis could push worldwide unemployment to a record high.

Reuters - Detroit's economy has been beaten down for years by wave after wave of job losses in the U.S. auto industry, but locals fear the worst may be yet to come if General Motors Corp and Chrysler LLC merge.

Reuters - Interbank lending emerged from deep freeze, and European and U.S. officials moved closer to infusing their economies with new stimulus packages on Monday, providing hope the world's financial crisis may be easing.

Reuters - Stocks rose on Monday as investors welcomed signs that credit strains were easing and comments from Federal Reserve Chairman Ben Bernanke raised hopes for more spending to help the U.S. economy.

Reuters - Federal Reserve Chairman Ben Bernanke told Congress on Monday that another wave of government spending may be needed as the economy limps through what could be an extended period of subpar growth.

AFP - Stock markets in the energy-rich Gulf ended mixed on Sunday amid volatile trading as investors appeared to be taking a wait and see approach as global markets were closed for the weekend.

Reuters - General Motors Corp is pushing ahead with talks to acquire Chrysler LLC in a deal that the automaker sees as a way to boost its cash position at a time when it has been shut out of debt markets and its own revenues are tumbling, sources said.

Reuters - Exelon Corp , the largest nuclear power operator in the United States, made an unsolicited offer to acquire NRG Energy Inc for $6.2 billion in stock, in a move to expand geographically and boost earnings and cash flow.

Reuters - World stocks put in solid gains on Monday as investors took comfort in global efforts to prop up the banking system, allowing for some bargain hunting.

Reuters - European banks lined up on Monday to tap state rescue packages to shore up their finances, part of measures to stem a global crisis that have begun to restore trust between institutions and lift shares.

AFP - Global stock markets bounced from valley to peak Friday in choppy trade that saw big gains in Europe but a loss of momentum on Wall Street, with investors frazzled in the face of a looming economic slowdown.

Reuters - Even as credit market strains show signs of easing, a barrage of earnings will steal the spotlight this week as Wall Street looks for a picture of how profits will fare in the face of a severe economic slowdown.