The European Commission is looking into Microsoft's offer to open up its software to be used with competitors' products. The European regulator is investigating the computer technology giant for allegedly breaching anti-trust rules.
An op-ed in the Financial Times argues that the European Central Bank should cut interest rates if it doesn't want to be left behind the global economic recovery that is due to begin by the end of the year.
Investor's Business Daily writes in an editorial that new economic data show the United States is "near or in a recession." The Philadelphia Fed's manufacturing figures, an increase in unemployment claims and a decline in a key index of economic activity all bear out that conclusion.
Concerns about the Turkish military’s incursion into northern Iraq and a cold weather snap in the American northeast pushed up U.S. crude oil prices to nearly $99, overshadowing concerns about the U.S. economy. London Brent crude rose 74 cents a barrel to $96.98.
Wall Street saw heavy trading in tech stocks Friday afternoon as investors remained uneasy about the economy. The NASDAQ posted losses of 1.1 percent, down 25.90 points from 2273.88. The Dow Jones Industrial Average was down 77.83 points from 12206.47, or 0.6 percent. The S&P 500 dropped by 0.7 percent during Friday trading.
British bankers David Bermingham, Giles Darby and Gary Mulgrew pleaded guilty in a U.S. federal court to involvement a fraud scheme with former Enron CFO Andrew Fastow. Each receives 37 months in prison and promises to pay back a total of $13 million to their former employer, U.K. bank Greenwich NatWest.
Time magazine reports that the debate in Texas between Democratic rivals Hillary Clinton and Barack Obama is unlikely to affect the outcome of the upcoming primaries. The magazine called it a "sedate" affair, which revealed few differences between the two senators' policy positions.
Slate reports that last night's debate did little to slow Obama's momentum: "Clinton was occasionally aggressive, but not enough to shake up the dynamic that has her nearly tied in polls in the crucial March 4 primary states of Ohio and Texas."
A motorcycle police officer escorting Hillary Clinton to a campaign rally died as a result of a crash in Dallas. Said Clinton in a statement, “We are just heartsick at this loss of life in the line of duty.”
The Justice Department announced that Congressman Rick Renzi (R-Ariz.) has been indicted on 35 charges, including wire fraud, extortion, conspiracy and money laundering. The counts are linked to a deal with an Arizona real estate investor who traded land to the congressman in exchange for support on a bill.
Hillary Clinton’s campaign donors are concerned that she is spending money on frivolous items, such as $25,000 for hotel rooms at Las Vegas’ Bellagio Hotel and $100,000 for party platters before the Iowa caucuses, according to The New York Times.
Russia has threatened to use force if NATO troops overstep their mandate in Kosovo, which declared independence from Serbia on Sunday. One person is dead and dozens were injured after Serbian protestors attacked the U.S. embassy in the Serbian capital.