Trips to the gas station are getting more painful for drivers, as prices at the pump have spiked due to crude oil topping $102 a barrel and diesel hitting new records daily. Experts said prices could approach $4 a gallon by spring. What's at stake? Harvard economist Kenneth S. Rogoff told The New York Times, “The effect of high oil prices today could be the difference between having a recession and not having a recession.” That means difficult days ahead for tourism marketers, who fear one of the slowest vacation seasons since 2001.
The European Union fines Microsoft $1.3 billion, saying the computing giant charged rivals “unreasonable prices” for software information.
Sens. Hillary Clinton (D-NY) and Barack Obama (D-IL) spar over health care, Iraq, and claims of moderator favoritism in what could be the final debate between the rivals for the Democratic presidential nod.
The producer of this year's Oscars apologizes to Whoopi Goldberg for leaving her out of a highlights montage.
ABC and FOX are hoping Jay Leno wants to stay on air after he passes the Tonight Show baton to Conan O'Brien in 2009.