The number of Americans filing new claims for jobless benefits rocketed to a 26-year high last week, surpassing already gloomy forecasts, as the U.S. economy sinks deeper into recession.

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

While researching the coming Rising Tide Letter, I realized there was a new trend brewing. Starbucks already capitalized on it, though the company over-expanded. Let me ask you a question. If somebody led you in blindfolded and then unmasked you, could you tell if you were in a Starbucks (SBUX) or a Benningan’s ?

Siemens Slashes Jobs; Southwest Cozies Up to Canada; VMWare Axes CEO; Office Depot Drops on Dismal Sales; Oil Drops $10 in a Week; Fed’s New Lending Restrictions; Anheuser Busch Sues InBev; ConocoPhilips Strikes Deal with Abu Dhabi

U.S. Federal Reserve policymakers will likely cut its key interest rate to 2.0% from 2.25% this, which would mark the seventh such move since the central bank launched its rate-reduction campaign in mid-September.