News Bits

Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

Somali pirates hijacked a supertanker hundreds of miles off the Horn of Africa, seizing the Saudi-owned ship loaded with crude oil and its 25-member crew, the U.S. Navy said Monday.

With Congress returning Monday to deal with an auto industry in dire financial straits, the Bush White House stressed that it supports help, but not at the expense of the $700 billion Wall Street rescue program.

Up to 2 feet of snow hit the Great Lakes region Monday.

Information from APExchange.com