The results of the government’s bank stress tests were released yesterday (Thursday), and the U.S. Federal Reserve has directed 10 banks to raise an aggregate $70 billion-plus in capital.

Russia’s continuing weakness could cost the country its membership in one of the most identifiable and esteemed investor acronyms – the BRIC nations.

FedEx Announces Profit, Cost Cuts; Report: Wal-Mart to Sell iPhones; GM Denies Chrysler Merger Talks; Discovery Applying for Bank Status; Initial Jobless Claims Down; Goldman Sells Sanyo Stake to Panasonic; IMF Sees 2009 U.S. Rebound; Carnival Cruises to 4Q Profit

Best Buy Profit Falls 77%; Goldman Sachs Posts $2.12 Billion Loss; New Permits and Starts at Record Low; Brazil Retail Rises 10.1%; Berkshire Buys NC Real Estate Brokerage; Crude Slides in Spite of OPEC

China Exports and Import Decline; Rio Guts 14,000 Jobs; Wells Fargo CEO Sees Housing Bottom; Orascom Lands North Korea Telecom Deal; Office Depot Shutters 112 Stores; JA Solar Cuts 4Q Estimates

This week’s economic reports will be highlighted by Friday’s unemployment report, which analysts expect will illustrate the 11th straight month of declining job ranks in the U.S. economy.

American Express Co. (AXP) today (Tuesday) won approval from the U.S. Federal Reserve to become a commercial bank, giving the credit card titan a crucial lifeline as the risk of defaults runs higher in the slowing global market.

Microsoft Profit Up; Goldman Slashes Jobs; Dow Reports 6% Jump in Profits; Sony Slashes Earnings Outlook; WaMu Debt Value Set; Crude Gains on OPEC Expectations

After completing their first official talks since 1999, China and Taiwan will open the first permanent offices in each other’s capitals and begin direct weekend passenger flights between their territories. The agreement is a positive step that will bring the two contentious regions closer together both politically and economically.

Back when it was Esso, the Exxon Mobil Corp. (XOM) predecessor urged motorists to “put a tiger in your tank.” These days, consumers probably feel more like they’ve got a tiger by the tail. And they should, for their family budget is certainly getting mauled.