NEW YORK - CITIGROUP has started sending replacement credit cards to its customers, apparently in response to a massive security breach at a payment processing company.

Heartland Payment Systems revealed on Jan 20 that its system used to process Visa, MasterCard, American Express and Discover Card transactions was breached late last year.

MILAN - FIAT announced on Friday it has cancelled factory shutdowns affecting more than 8,000 workers, saying the government's incentive programme to help boost the flagging auto industry has helped market conditions.

NEW YORK - WALL Street fell sharply early on Friday, with the Dow Jones industrials reaching new six-year lows as investors around the world keep selling on pessimism about the global economy. Financial stocks led the market lower.

Disappointing fourth-quarter earnings reports from Lowe's and JC Penney provided new evidence that the recession is taking a heavy toll on US businesses. The pair also forecast 2009 earnings below analysts' expectations.