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January 7, 2009 Wednesday
Updated

NEW YORK - US ALUMINUM giant Alcoa said on Tuesday it would slash some 13,500 jobs or 13 per cent or its global workforce and reduce output to cope with the global economic downturn.

Alcoa also said it was implementing a freeze on hiring and salaries.

 
Wall St up on recovery hopes

NEW YORK - US STOCKS rose modestly on Tuesday, lifted by gains overseas and as sentiment was buoyed by hopes that emergency government measures will pull the global economy out of recession.

The Dow Jones Industrial Average gained 62.21 points (0.69 per cent) to close at 9,015.10, as Wall Street posted its fourth gain in the past five sessions.

   
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