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Intel Sales Take a Nosedive
Intel, the world's largest maker of computer chips, said on Jan. 7 that it would report sales of $8.2 billion, down 20% from the third quarter and 23% from a year earlier.
"Revenue will be lower than the company's previous expectation… as a result of further weakness in end demand and inventory reductions by its customers in the global PC supply chain," Intel said in a statement.

US Economy: Companies Cut Payrolls at Faster Pace
Jan. 7 (Bloomberg) -- Reports issued two days before the release of U.S. jobless data showed private employers cut payrolls at a faster pace in December, threatening to send the unemployment rate to levels unseen in a quarter century.
“The level of unemployment is going to be higher” and may exceed 10 percent, Martin Feldstein, the former National Bureau of Economic Research president

US companies face $409 billion pension deficit: study

Oil prices tumble below $43 on oil reserve report
Energy prices plunged across the board Wednesday, giving up a week of gains with unexpectedly large U.S. crude reserves suggesting demand for energy has eroded even further.