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WSJ.com: Business
Business

• As Energy Stocks Rise, Funds Hesitate
  Energy stocks are rebounding despite oil's recent plunge, but fund managers are waiting to see a recovery in global demand before buying.
• Retailers Brace for Major Change
  Fallout from the dismal holiday sales season promises to have a lasting impact on how the retail industry operates, with some prepared for a large number of bankruptcies and store closures.
• Goldman's Star Dims in M&A Rankings
  Goldman's seven-year run as the No. 1 deal adviser ended as J.P. Morgan took the top spot in 2008, Dealogic data show.
• Jones Apparel Reduces Credit Line
  Jones Apparel cut back its revolving credit facilities to $600 million from $1.25 billion to reflect its current financing needs.
• Wall Street Journal Crosswords and Solutions
  See the crossword puzzles for 2008, and their solutions.
• SL Green Trims Dividend
  SL Green cut its quarterly dividend almost in half to preserve capital for paying debt or making investments. The REIT expects the cut to save about $95 million next year.
• Banks Told: Lend More, Save More
  Bankers are complaining about mixed signals from U.S. regulators, who want them to lend more but build up capital to protect against losses.
• Retail Sales Plummet
  Price-slashing failed to rescue a bleak holiday season for beleaguered retailers, as sales plunged across most categories.
• GMAC Is Closer to Bailout Funds
  The Fed allowed GMAC to become a bank-holding company, potentially giving the entity access to billions of dollars of Treasury funds. (Fed statement)
• Chrysler Plans Big Cut in Costs
  Chrysler is working on an aggressive restructuring plan to further slash costs in a bid to show the government the auto maker can be viable.
• AIG Sells $16 Billion in CDOs
  AIG said that a financing entity has purchased an additional $16 billion in collateralized debt obligations insured by the insurance giant through credit-default swap contracts.
• India Refinery Could Weigh on Oil Margins
  India's Reliance started operations at its new 580,000-barrel-a-day refinery in western India, likely raising the pressure on refining margins globally.
• Chicago Rail Deal Advances
  Canadian National won federal approval for its plan to buy a Chicago rail line, but it remained unclear whether the company can complete the fiercely opposed transaction.
• Stocks Should Follow Rise in Natural Gas
  Natural-gas prices appear to be pulling away from oil prices, but that doesn't mean investors should expect a broad rally in stocks of natural-gas companies.
• Britain's Zavvi Placed in Administration
  Britain's economic downturn claimed another prominent retailer as music, games and DVD retail chain Zavvi filed for a form of bankruptcy protection, blaming the collapse of the Woolworth Group's distribution arm.
• Probe of Air New Zealand Crash Stymied
  Investigators looking into the November crash of an Air New Zealand jetliner have been hindered by a separate French criminal probe and failures to retrieve data from the plane's black boxes.
• Deal for Chicago Rail Line Approved
  The U.S. Surface Transportation Board approved a merger of rail companies, in a move designed to relieve rail and auto traffic congestion in the Chicago area.
• Gray Stresses Local Markets
  Gray Television Inc.'s advertising revenue has taken a hammering along with the rest of the television industry, but the company is hoping that staying local will lead to better days.
• Old Lane Managers Look to Exit Citi
  The CEO and other senior executives of hedge fund Old Lane Partners recently signed separation agreements with Citigroup.
• Treasury Will Invest Billions in AmEx, CIT
  The U.S. Treasury will invest a total of nearly $6 billion of the bank bailout fund in CIT Group and American Express.
• Vitol Lays Out Role in Oil Market
  Federal investigators trying to pinpoint what is behind gyrations in the price of oil in the past year and a half are scrutinizing a series of moves by Dutch-Swiss physical oil trader Vitol Group.
• Why Some Toys Don't Get Discounted
  Despite the difficult economy, many stores aren't marking down certain popular gifts, including the latest James Bond game, because of minimum pricing.
• Big Madoff Investor Found Dead
  The co-founder of an investment advisory firm that lost $1.5 billion in the Madoff scandal was found dead in an apparent suicide in his Manhattan office.
• Slump Lessens Gazprom's Clout
  Gazprom, the Russian gas supplier long feared in Europe as an all-powerful monolith, is heavily in debt and hurting from a steep decline in energy prices.
• NASA Awards Contracts for Space Station Resupply
  The government awarded contracts valued at up to $3.5 billion to ship cargo to the International Space Station, a possible prelude to a blossoming market.
• Illinois Racing Law May Be Tainted by Charges
  A federal affidavit alleges Blagojevich attempted to pressure a horse-racing official for a contribution in return for the governor's signature on legislation.
• Avis Gets Credit Extension
  Avis Budget Group said it secured $2.45 billion in financing to shore up its fleet and is seeking a separate agreement on its debt.
• Wal-Mart to Settle Wage Suits
  Wal-Mart agreed to pay as much as $640 million to settle 63 suits alleging it shortchanged the pay of workers.
• Wachovia Holders Bless Deal
  Wachovia's shareholders overwhelmingly approved sale of the bank to Wells Fargo and CEO Steel was appointed to Wells's board.
• Starbucks Could Cut 401(k) Match
  Starbucks told employees the company won't guarantee that it will make contributions to their 401(k) accounts next year.
• European Traders Take Early Holiday
  As usual, European stock markets are taking a long winter's nap for Christmas.On Tuesday, European shares closed almost unchanged, the last full trading session in a holiday-shortened week.
• Last-Minute New Year's Deals
  Many popular New Year's Eve spots, including hotels in Times Square, are offering deep discounts in an effort to appeal to more frugal consumers.
• Q&A on the Madoff Case
  The alleged fraud of Bernard Madoff roped in thousands of clients