- Reuters writes that Merrill Lynch (MER) will freeze all hiring through the end of the year.

- Reuters reports that the FAA proposes a $7.1 million fine against AMR (AMR).

- Reuters reports the consumer prices were up sharply as employment softened.

- Reuters reports that Morgan Stanley (MS) and JP Morgan (JPM) hsa settled their auction-rate probes.

- Reuters writes the Pickens stands by his alternative energy plan despite falling oil.

- Reuters reporsts the Wachovia (WB) may need capital and could sell its money management unit.

- The Wall Street Journal writes that four of the world's top economies may be falling into recession.

- The Wall Street Journal reports that more speculation is being seen in the oil market.

- The Wall Street Journal reports that UBS (UBS) is being accused of auction-rate fraud by the NH AG

- The Wall Street Journal reports that Apple (AAPL) is working on solutions for dropped iPhone calls.

- The Wall Street Journal reports that a court decision set a high bar for record labels that want to claim damages from file-sharing services.

- The Wall Street Journal reports that Toyota (TM) will see US sales recover slowliy

- TheWall Street Journal reports that the US governement is pressuring Delphi on its pension obligations.

- The Wall Street Journal reports that GM's (GM) hybrid is nearly ready for testing.

- The FT reports that Merrill Lynch may avoid a $29 billion UK tax bill because of losses.

- Bloomberg reports that US consumers spent more on gas than cars for first time in 26 years.