The slowdown in the U.S. economy, coupled with a steady drip of bleak economic data, is starting to echo the conditions that presaged the country’s most recent recession.

GMAC LLC plans to combine 20 U.S. and Canadian offices into five regional centers and cut about 930 jobs in its auto finance business to cut expenses in the wake of tightening credit markets and heavy losses last year.

In documents released Wednesday, the Fed said it believes that the gross domestic product will grow between 1.3 percent and 2 percent this year. That’s lower than a previous Fed forecast for growth - which was estimated then to be between 1.8 percent and 2.5 percent.

Consumer prices rose by a bigger-than-expected amount in January, reflecting big increases in the cost of food and health care, the government reported Wednesday

In a unanimous ruling, the justices are allowing participants in 401(k) retirement plans to sue. The decision has implications for 50 million workers with $2.7 trillion invested in such plans.

Food companies General Mills and ConAgra raised their profit estimates yesterday, shrugging off higher costs for grain, energy and other raw materials thanks to cost cutting, rising sales and higher prices.

The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 2.200 percent, down from 2.250 percent last week. An additional $22 billion in six-month bills was auctioned at a discount rate of 2.040 percent, down from 2.080 percent last week

Many fund investors will get an unpleasant surprise from their tax preparer this year, a bill for the distributions they got from their funds, even though those funds may have had a disappointing year.  Year-end numbers for 2007 are not available yet, but it is clear that distributions will amount to a record of more than $500 billion. You read that right: a half-trillion dollars, nearly $100 billion more than in 2006, and that was a record.

Sharper Image, known for its high-tech novelty gadgets, and Lillian Vernon, which sells low-cost gifts and gadgets through its catalog and website, have long been plagued with falling sales.

Pork processor Smithfield Foods said it is reducing its U.S. sow herd because of record-level grain costs

Stocks opened with a head of steam, but lost that momentum as oil closed above $100 for the first time

More Americans tap retirement accounts to make ends meet; withdrawals carry risks

Oil futures shot higher Tuesday, closing above $100 for the first time as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand. At the pump, gas prices rose further above $3 a gallon.

Rise on customer satisfaction index is first in four years

The challenge of starting a small business is rapidly becoming a popular option in Virginia. According to the U.S. Small Business Administration, small businesses in the commonwealth have increased from 165,185 in 2002 to 643,600 in 2007.

Stocks rallied Tuesday as investors found some relief in an earnings report from Wal-Mart Stores Inc., which saw improvement in sales in the United States and abroad. The Dow Jones industrial average rose more than 120 points.

The New York-based media and merchandising company founded by domesticity maven Martha Stewart announced Tuesday that it bought the rights to the Emeril Lagasse franchise of cookbooks, television shows and kitchen products for $45 million in cash and $5 million in stock at closing.

A handful of state securities regulators and a couple foreclosure-blighted cities have fired the opening shots with lawsuits trying to prove that investment banks and big lenders are guilty of more than just bad business decisions and failing to foresee looming mortgage troubles

The federal agency that protects retirement income of nearly 44 million workers has decided to split its $55 billion in assets evenly between fixed-income investments and stocks.

If we are in recession, it is unlikely to become official until after it has ended. By that time, we’ll be discussing how quickly the Federal Reserve will be raising rates to keep inflation at bay.

Savvy small-business owners will want to take a closer look at the economic-stimulus package signed into law by the Bush administration last week.

The Cornell University junior was in his dorm between classes when the text message came in from a friend. Check out JuicyCampus.com, it said.  The student found his name on the website beside a rambling, filthy passage about his sexual exploits, posted by an anonymous student on campus.  The young man could only hope the commentary was so ridiculous nobody would believe it.

As the Federal Reserve was slashing interest rates in recent weeks, billions of dollars in investor money was flowing into some of the most rate-sensitive investments out there. They are funds almost certain to have a tough time keeping up with inflation.

Senate introduces payday lending reform legislation

Comcast Corp. told the Federal Communications Commission in formal comments Tuesday that hampering some file-sharing by its subscribers was a justifiable way to keep Web traffic flowing for everyone.

Franchise laws make it difficult, if not nearly impossible, for the manufacturer to close stores, said George Hoffer, an economics professor at Virginia Commonwealth University who studies the automobile industry

Yahoo Inc.‘s board has concluded Microsoft Corp.‘s $44.6 billion takeover bid undervalues the slumping Internet pioneer and plans to reject the unsolicited offer, a person familiar with the situation said Saturday

Dealer says Chrysler plans to significantly reduce its products, dealerships

International Coal Group warned investors to brace for a non-cash $110 million after-tax charge atop the fourth-quarter and full year 2007 losses it reported Thursday.

Stocks headed into negative territory after a Federal Reserve official raised the issue of inflation risk. Some investors were prompted to wonder whether that could prevent the central bank from making further interest rate cuts.