UNITED STATES

United Nations Secretary-General Ban Ki-moon on Monday said he's embarking on a Mideast tour to press for Israel and Hamas to immediately stop fighting and allow humanitarian aid into the devastated Palestinian territory.

Crude oil slumped below $37 a barrel on Tuesday to mark its largest decline in one month on expectations that U.S. supplies have increased due to low demand.

On behalf of President-elect Barack Obama, President Bush on Monday said he has agreed to ask Congress for the second half of a $700 billion financial bailout fund. The timing of the request means that Obama may have the funds at his disposal by the time he is inaugurated as President in one week.

President Bush held his final White House press conference on Tuesday where he candidly addressed issues from pressing bailout decisions in his final days as president necessary to mistakes he made during his presidency.

Australian Dollar: After opening the week above 70 cents the Aussie dollar swiftly retreated in early morning trade as investors remained nervous following Friday's U.S employment report.

US retailer Wal-Mart Stores Inc had a tough Christmas and will have an extraordinarily challenging first quarter, H. Lee Scott, the CEO of the company said at the annual National Retail Federation confederation.

Apple could be in for a significant slowdown, according to one analyst, however the prospect of a new iPhone launching this year could shore up revenues.

U.S. drug maker Abbott Laboratories said today it will buy Advanced Medical Optics, a provider of technology for eye care in a $2.8 billion deal.

President-elect Barack Obama pledged on Sunday to maintain transparency and track the next $350 billion of the economic stimulus package which he said will target credit flow to businesses and families. He also said his team is making principles on how the remaining part will help in terms of housing and target small businesses.

Rick Wagoner, CEO of General Motors Corp, said Sunday that the company may seek further loans from the U.S. government at the North American International Auto Show in Detroit.

Ford Motor Co., the No. 2 US based automaker, announced on Sunday that it would collaborate with Magna International to introduce a small electric car in North America in 2011 as part of a plan to introduce electric, hybrid and plug-in hybrid vehicles over the next four years.

Ford Motor Co., the No. 2 US based automaker, announced on Sunday that it would collaborate with Magna International to introduce a small electric car in North America in 2011 as part of a plan to introduce electric, hybrid and plug-in hybrid vehicles over the next four years.

Automakers showed off their plans for electric and hybrid autos set to go on sale in the coming years, as fuel efficient vehicles gained a bigger showcase in this year's North American International Auto Show. The vehicles highlighted at the show include planned pure electric vehicles, and electric-gas hybrids.

Automakers showed off their plans for electric and hybrid autos set to go on sale in the coming years, as fuel efficient vehicles gained a bigger showcase in this year's North American International Auto Show. The vehicles highlighted at the show include planned pure electric vehicles, and electric-gas hybrids.

The U.S. economic recession would officially end in the third quarter of 2009, according to polled economists from top financial firms. A return to normal levels of growth is expected by 2010.

There is a bucket of data out this week which should provide traders with a closer insight into the current economic situation in the United States.

Australian Dollar: The Aussie dollar drifted lower in local trade on Friday after posting a high of 0.7130 in early morning trade.

Walt Disney Co. announced Friday it will move forward with submitting a proposal to build a theme park in mainland China.

On Friday British-based Lloyds TSB Bank agreed to pay a 350 million dollar penalty to settle an investigation for illegally authorizing access by Iran and Sudan in to the US financial system.

News program 60 Minutes is presenting a special edition disc covering the president-elect's path to the White House.

President-elect Barack Obama's mother in law will be living with the first family in the White House after he takes office.