Fink Warns of Fiscal Cliff-Fuelled Recession

BlackRock Inc. Chief Executive Officer Laurence D. Fink said the U.S. economy may shrink at the start of 2013 as companies curb hiring ahead of spending cuts and tax increases from the so-called fiscal cliff.
Statoil and BP Release Reports amid Oil Declines
03:33 - Oil extended declines in a bear market amid signs producers from the Middle East to the U.S. will continue adding supplies to a global glut. Oil exports from southern Iraq rose to a record this month, while a Bloomberg survey forecasts U.S. crude stockpiles expanded for a second week through July 24. Brent in London closed Monday more than 20 percent lower than its peak reached in May, meeting the common definition of a bear market.
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