KIEV - UKRAINE'S state-run energy company said on Thursday it had asked domestic chemical producers to halve gas consumption as concerns mount over the impact of the Russian gas cut-off on Ukraine's crisis-gripped economy.

Ukraine's economy, already heading into its worst recession for a decade, can ill afford a steep rise in gas prices and investors are closely watching the impact of the New Year's Day severance of Russian gas supplies.

NEW YORK - RETAILERS reported dismal sales figures for December on Thursday as even Wal-Mart Stores Inc., one of the bright spots in the industry, finally buckled under the pressures of the deteriorating US economy.

As merchants reported their sales figures, confirming fears that the holiday season was the weakest in four decades, the malaise cut through practically all areas from kitchen gadget stores to jewelry purveyors and teen apparel retailers.

IN A signal that a wave of retrenchments may be on the way, the number of unionised workers who have been asked to go on a shorter work week or to clear their leave has drastically spiked in the past month.

On Nov 25, when the labour movement began tracking the situation, there were 6,876 such workers. This has since more than doubled in one month - to 15,000.

HYDERABAD (India) - THE chief financial officer of Satyam Computer Services has submitted his resignation, but the firm's board is yet to approve it, the company's interim CEO said on Thursday.

Ram Mynampati said the liquidity of Satyam's balance sheet was 'not very encouraging now', but added the embattled company had 'healthy receivables'.