Pimco's El-Erian says GDP falling off cliff: CNBC - Reuters - 16 minutes ago
: Pimco's Mohamed El-Erian on Friday said fourth-quarter GDP is falling off a cliff, in an interview on CNBC. Highlights:

Wal-Mart's Scott retiring as CEO, Duke to succeed - Reuters - 18 minutes ago
Wal-Mart Stores Inc said on Friday that Lee Scott will retire as chief executive, and will be succeeded by Mike Duke, who heads its international operations.

AnnTaylor posts loss - Reuters - 26 minutes ago
AnnTaylor Stores Corp reported a quarterly loss on Friday as the financial crisis exacerbated already weak sales trends, and the women's clothing retailer said it expected consumer spending to remain soft through the current fourth quarter.

Obama not eyeing prepackaged carmaker bankruptcies - Reuters - 44 minutes ago
President-elect Barack Obama's transition team is not exploring a prepackaged bankruptcy plan for U.S. automakers, officials from Obama's team said on Friday.

Visa says might incur "significant" charges in FY09 - Reuters - 1 hour, 30 minutes ago
Visa Inc said it might incur "significant" charges in fiscal 2009, according to an SEC filing. Highlights:

Former union chief could lead FAA: paper - Reuters - 1 hour, 51 minutes ago
A onetime union leader is a top contender to head the U.S. Federal Aviation Administration, the Wall Street Journal said, citing people close to President-elect Barack Obama's transition team.

Heinz profit rises, helped by hedges - Reuters - 1 hour, 57 minutes ago
H.J. Heinz Co posted a higher quarterly profit as price increases, currency hedging and strong sales in North America and emerging markets helped offset higher commodity prices and slower growth in Europe.