NEW YORK (Reuters) – U.S. stocks closed out their worst January ever with another slide on Friday after data showed the economy contracted at the fastest pace in nearly 27 years in the fourth quarter.

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Troubled economy, bank fears hit Wall St

Drinking away your troubles? Possibly. But chances are you’re doing less of it, and you’re imbibing at home. The alcohol industry is often thought of as “recession proof,” but the spirits industry said Friday that its business softened last year, with revenue…

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80 proof, not recession proof for liquor industry

Stocks slumped for a second straight day Friday as investors, already on edge about the worsening economy, were further rattled by a report that Washington’s plans to help banks may have hit a snag. The Dow Jones industrials dropped 4.5 percent over two…

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Stocks stumble as investors fear worsening economy

Battered by layoffs, debts and dread of worse to come, shoppers clutched ever tighter to their wallets in the final three months of 2008 and thrust the economy into its worst downhill slide in a quarter-century. Americans cut spending on everything from cars…

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Economy’s new plunge is worst in quarter-century

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The Hidden Commodity in Canned Food

Ukraine’s president says his country must honor contracts that ended a nearly two-week halt in Russian natural gas shipments to Europe earlier this month. Viktor Yushchenko’s remark Friday was the clearest statement yet that his camp in Ukraine’s bitterly…

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Yushchenko: Ukraine will honor gas contract

The Gross Domestic Product report is often described as the nation’s economic report card. These days, it’s looking more like the medical chart of a patient in intensive care. The Bureau of Economic Analysis estimated Friday that GDP shrunk at a 3.8 percent…

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Meltdown 101: GDP by the numbers

Tribune Co.’s Los Angeles Times is cutting 300 positions and will shrink the number of daily sections to four from five. The paper’s publisher, Eddy Hartenstein, informed staff in a memo on Friday. Editor Russ Stanton said in a second memo that the cuts will…

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Tribune Co’s LA Times to cut 300 jobs

The White House says President Barack Obama has told Chinese President Hu Jintao that global trade imbalances must be corrected. White House press secretary Robert Gibbs says the president called Hu on Friday and both men spoke of their intention to build a “…

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Obama addresses global trade imbalances with Hu

Government advisers are recommending a ban on Darvon, a painkiller that’s been around for 50 years. A Food and Drug Administration advisory panel voted 14-12 Friday to recommend withdrawing Darvon after a hearing on its risks and benefits. The drug was first…

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FDA panel recommends ban on the painkiller Darvon

If you are contacted by a debt collector, there are several steps you can take to make the process easier. 1. Ask the collector to “verify” the debt, meaning they have 30 days to provide written proof of what you owe. 2. Try to work out a payment plan with…

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6 tips for dealing with debt collectors

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Ensure Your Disability Coverage

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How to Ensure Your Disability Coverage

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Lehman vs. Lehman

Debt collection is a highly regulated industry and consumers are protected under both federal and state laws. Here are some important things to know about dealing with debt collectors: _ The federal Fair Debt Collection Practices Act limits the hours a debt…

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Regulations restrict how debt collectors can act