Business

WASHINGTON - Air travel over the holidays will fall 2.5 percent from last year, a trade group for the nation's major carriers predicted Thursday. Full Story »

NEW YORK - Better to be a banker in New York than Europe this bonus season. Full Story »

WASHINGTON - Inch by inch, Americans are recovering some of their vast loss of wealth from the recession, thanks to gains in stock investments and home values. Full Story »

NEW YORK (Reuters) - CIT Group Inc's new shares rose as much as 6 percent from opening levels in their debut on the New York Stock Exchange on Thursday as the lender to small businesses emerged from one of the largest bankruptcies in U.S. history. Full Story »

NEW YORK - Drugmaker Pfizer Inc. said Thursday it will extend for another year a program that provides free prescription medications to people who have lost their jobs. Full Story »

RESTON, Va. - Learning Tree International Inc., which sells professional development courses for IT workers, said Thursday it fell to a loss in the fourth quarter as sales dropped and it recorded a big settlement charge. Full Story »

BRUSSELS (AFP) - Europe's leaders stared into an abyss of Greek debt late on Thursday, but gave Prime Minister George Papandreou the benefit of the doubt after he promised them economic reform. Full Story »

WASHINGTON - The Obama administration's embattled mortgage relief plan has provided permanent help to only 4 percent of borrowers who have signed up, weak results that could threaten the housing market's recovery. Full Story »

BEIJING (AFP) - Consumer prices in China rose for the first time in nearly a year and industrial production picked up pace in November, while retail sales slowed slightly, the government said Friday. Full Story »

Foreclosures fell almost 8% in Nov., the 4th straight drop from July's record high, RealtyTrac said. "Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded homebuyer tax credit, are keeping a lid on" foreclosures, said RealtyTrac CEO James Saccacio. But default notices, scheduled foreclosure auctions and bank repossessions rose 18% vs. a year ago to 306,627. California, Florida, Illinois and Michigan accounted for 52% of filings. Full Story »

BAGHDAD (AFP) - Iraq was poised Friday to begin taking bids from major international energy companies for 10 oil fields as it seeks to ramp up output and become one of the world's biggest crude producers. Full Story »

• Slideshow: Iraq

McLEAN, Va. - Mortgage rates rose this week but still remained below 5 percent, Freddie Mac said Thursday. Full Story »

MODESTO, Calif. - A Northern California mortuary has offered to cover the funeral costs for a 5-year-old Modesto boy crushed by furniture as his family moved out of their foreclosed house. Full Story »