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Corus seen to cut hours of 4,600 staff

Tata Steel unit Corus has applied for Dutch government financial aid to temporarily reduce the work hours of 4,600 workers to cope with the global economic slowdown, Dutch news agency ANP reported on Monday.

U.S. in recession as Europe backs hikes

The U.S. economy has been in a recession for a year, the nation's business cycle arbiter declared on Monday, while European leaders vowed to step up public spending to try to cushion a deepening downturn.

FTSE slides 5.2 pct on commods and data

The FTSE slid 5.2 percent on Monday as concerns over demand for raw materials hit heavyweight commodity stocks, while weak data highlighted problems facing the UK economy.

Aer Lingus rejects Ryanair's new bid

Ryanair <RYA.I> revived its courtship of Irish rival Aer Lingus <AERL.I> on Monday, bidding 750 million euros (645 million pounds), just half of what it offered two years ago in an approach thwarted by European regulators.

Bernanke says U.S. Fed has options as rates near zero

AUSTIN, Texas (Reuters) - Federal Reserve Chairman Ben Bernanke on Monday urged decisive action to protect the U.S. economy and said the central bank had alternative tools it could employ to help as interest rates approach zero.

Ford considers sale of Volvo

Ford <F.N> said on Monday it was reviewing options for Volvo and could sell the luxury Swedish car brand as it scrambles to shore up cash amid a deep industry downturn.

Government says in talks with banks on strategy and boards

The company set up to manage the government's bank holdings said it was in talks with lenders about their strategy, just as the biggest beneficiary of the government's banking bailout pledged to delay home repossessions.