Economic Crisis | featured news

Microsoft Corp is considering significant layoffs across its various divisions, The Wall Street Journal reported on Wednesday, citing people familiar with the company’s plans.

Democratic leaders in the U.S. House of Representatives will push for quick passage of a $825 billion economic stimulus bill being unveiled on Thursday.

With the recession pummeling states' budgets, their governments increasingly want to fill the gaps by collecting taxes on Internet sales, which are growing even as the economy shudders.