Greenspan nears tenure’s end
WASHINGTON (AP) - Alan Greenspan, widely viewed as the U.S. economy’s maestro, is preparing to turn over his conductor’s baton to his successor, Ben Bernanke.

Selection of jurors starts in Enron executives’ trial
HOUSTON (AP) - Enron Corp. founder Kenneth Lay and former Chief Executive Officer Jeffrey Skilling arrived at a federal courthouse in Houston today, looking relaxed and ready for jury selection in the premier criminal trial to emerge from the biggest corporate scandal in recent years.

Consumer spending rises; savings rate down
WASHINGTON (AP) - Consumer spending rose at a rapid pace in December, far outpacing income growth, a development that helped push the savings rate for the year down to the lowest level since the Great Depression.

Bush nominates two for central bank posts
WASHINGTON (AP) - President George W. Bush is nominating Randall Kroszner and Kevin Warsh to fill two vacancies on the Federal Reserve’s board of governors.

Exxon Mobil sets record with quarterly profit
IRVING, Texas (AP) - Exxon Mobil Corp. posted a record quarterly profit for a U.S. company today - $10.71 billion in the fourth quarter - as the world’s biggest publicly traded oil company benefited from high oil and gas prices and demand for refined products.

Japanese official cites lack of inspections
TOKYO (AP) - Japan should have inspected U.S. cattle facilities more thoroughly before easing a ban on American beef last month, the agriculture minister said today.

Boeing to consolidate its defense groups
ST. LOUIS (AP) - Boeing Co. on Friday announced a major reorganization inside its St. Louis-based defense business in a plan to cut costs, avoid complacency and spur growth in the face of a Pentagon spending squeeze.