Corrupt officials are creaming off about $120bn a year - equivalent to a third of the national budget, a Russian prosecutor says.
China tells US to steady economy
China tells the US to stabilise its economy and boost its savings rate in a sign of Beijing increasing economic confidence.
Oil falls sharply on big job cuts
Oil prices fall to an almost four-year low after more bad economic data in the US, including benefit rises and big job cuts.
US Fed urges foreclosures push
US Federal Reserve chairman Ben Bernanke calls on the government to take action to stem the increasing number of home foreclosures.
Carmakers 'affect entire economy'
The chairman of the Senate committee deciding whether to rescue three US car giants says the health of the entire US economy is at stake.
Downturn to hit Philips profits
Electronics giant Philips says the downturn is without "recent comparison" and that its revenue will be less than expected.
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