OPEC cuts oil output further by 2.2 million barrels a day

Date: Wed, 17 Dec 2008 17:03:01 -0500

The Organization of the Petroleum Exporting Countries decides to slash
its daily production by a record 2.2 million barrels from current
levels, but the oil market ignores the widely expected move and sends
oil prices tumbling below $40 a barrel.

FUNDWATCH: INVESTORS DUMP STOCK AND BOND FUNDS, BUT SELLING PRESSURE EASES

Investors pulled more than $40 billion from stock- and bond mutual
funds in November, but the panicked selling of the past several months
seems to be subsiding, according to figures released Wednesday by
research firm Lipper Inc.

APPLE HIT AFTER MACWORLD DECISION; ANALYST DOWNGRADES STOCK

The company's dramatic decision to pull out of future Macworld showsn
also has raised fresh speculation about the health of Chief Executive
Steve Jobs.

SEC CHIEF: INTERNAL REVIEW COULD MEAN AGENCY CHANGES

Trying to contain the damage from what appears to be a major fumbling
by the Securities and Exchange Commission to uncover an alleged $50
billion "Ponzie
scheme," SEC chairman says he may change how the agency examines
investment funds if an internal review finds that regulators dropped
the ball.