The New York Times reports that the trustee charged with making sense of the Bernard Madoff scam has asked a court for unusual subpoena powers. There's a sense of urgency attached to the request; allegedly Madoff was making plans to accept large amounts of money very near the time he was confessing his Ponzi scheme to his sons, who eventually turned him in.

AFP - US stocks may have started the New Year with a bang but experts see major headwinds for the market as the new administration of Barack Obama moves rapidly to eject the economy from prolonged recession.

Reuters - President-elect Barack Obama and Democrats in Congress will take over the government this month with big plans to overhaul U.S. financial regulation and a surge of momentum behind them.

Reuters - Samsung Electronics, the world's largest maker of memory chips, denied a report saying it may cut its 2009 investment in semiconductors by more than half from last year amid a lingering downturn.

AFP - More than 40 Hong Kong toy makers who lost money following the collapse of US retailer KB Toys said Monday they would be seeking compensation from trading firm Li & Fung.