U.S. President Barack Obama today (Monday) announced a proposal for new legislation to pursue American tax evaders by closing loopholes and clamping down on overseas tax breaks for American businesses and individuals.

Caterpillar Offers 2,000 Early Retirements; Canada Posts Rare Trade Deficit; RIM Meets 4Q Expectations, Barely; GE Powering Middle East; Dollar Rises Against Yen, Euro; GM Seeks Saab Funding From Sweden; Gold Hits 7-month High; China Injects $19.5 Billion Into Rio Tinto

Ford and Toyota Sales Crash; Triple Airline Merger in Talks; GE Ponders Job Cuts; Sears Closing Stores; Oil Prices Hit 3-year Low; Discover Says More Credit-card Write-offs Likely

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