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U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday.

Despite an ever-worsening economy and slumping retail sales, firearm sales increased in February, continuing an upswing that began after November's election. Data from the FBI's National Instant Criminal Background Check System (NICS) show background checks on the sale of firearms jumped 23.3 percent in February when compared to February 2008. The increase follows a 29 percent rise in January, a 24 percent rise in December and a 42 percent jump in November, when a record 1,529,635 background checks were performed.

In the global descent into recession, Japan continues to lead the way.

The Simpsons is to become the longest-running prime-time series in US TV history after two more seasons were ordered.

The president's outline of his proposal boosts federal spending to a record level.

Claims for unemployment insurance jump, those living on unemployment benefits hits record high.

The Royal Bank of Scotland will later report what is expected to be the biggest annual loss in UK history.

Confidence among US consumers plunged to a record low in February, signaling spending will slump further as unemployment soars.

Macy's said it will record an asset write-down of up to $5.5 billion as the department store posted a big drop in operating profit amid heavy markdowns and weak consumer spending.

Lindsey Vonn set an American record with her 19th women's World Cup win Sunday in a super-G.