U.S. fourth-quarter GDP down 3.8%, biggest since 1982

Date: Fri, 30 Jan 2009 12:01:24 -0500

U.S. fourth-quarter GDP down 3.8%, biggest since 1982

The U.S. economy contracts at a 3.8% annualized rate in the fourth
quarter, Commerce Department data show. The decline in gross domestic
product would have been worse except that the government counts an
unwanted buildup of goods on
store shelves as growth.

AMAZON SHARES JUMP ON SURPRISE EARNINGS GROWTH

Amazon.com's surprise gain in fourth-quarter earnings gives shares an
early boost on Friday.

ROCHE LOWERS GENENTECH BID, GOES HOSTILE

In a display of hostility toward a firm it mostly owns, Roche Holdings
on Friday lowers its takeover bid for Genentech and takes the offer
directly to
shareholders.

DAVOS NOTEBOOK: LONG LIVE PRIVATE EQUITY

Times are tough in the private equity business, but the industry will
survive, Kohlberg Kravis Roberts founding partner Henry Kravis insists
Friday at the World Economic Forum's annual meeting.

OBAMA CALLS WALL ST. BONUS BINGE SHAMEFUL

President Obama blasts Wall Street for shameful and irresponsible
behavior after reports that Wall Street paid $18.4 billion in bonuses
in 2008, even as the industry collapsed, costing taxpayers billions of
dollars and tens of thousands of job cuts.