Managed care provider Cigna Corp. said Monday the slumping economy has forced it to cut roughly 1,100 jobs, as it deals with employer customers who also are making cuts and reducing the number of people covered by insurance.

Former eBay Inc. chief executive Meg Whitman plans to run for governor of California, a person with knowledge of her political aspirations said Monday.

A prosecutor on Monday asked that Bernard Madoff be jailed pending trial, saying the disgraced financier broke a promise not to touch his assets by mailing watches, jewelry, cufflinks and mittens estimated to be worth $1 million to relatives and two friends.

Chrysler LLC's December U.S. sales plunged by more than half and it sold 30 percent fewer vehicles in 2008, dwarfing the steep declines at the other major automakers as consumers remained uncertain about the economy and their jobs.

Construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing. But the outlook remains bleak as credit is tight for builders trying to stay afloat amid a recession entering its second year.

Caution returned to Wall Street Monday as investors gave back some gains from last week's rally even as they found encouragement from President-elect Barack Obama's calls for an economic stimulus package.

Apple Inc. founder Steve Jobs, a survivor of pancreatic cancer whose gaunt appearance in the past year has alarmed the Mac and iPod lovers who look to him as an oracle, said Monday he has an easily treated hormone imbalance and will remain in charge of the company.

Republican and Democratic House members said Monday that the alleged $50 billion fraud involving Wall Street figure Bernard Madoff reflects deep, systemic problems at the Securities and Exchange Commission.

President-elect Barack Obama plunged into rare pre-inaugural crisis talks with congressional leaders Monday, declaring the national economy was "bad and getting worse" and embracing tax cuts now expected to reach $300 billion.

Israel's ground offensive in Gaza and a dispute between Ukraine and Russia over gas imports pushed oil prices above $48 a barrel Monday, but some analysts say there's more than just unrest in the Middle East behind the rally.

Borders Group Inc., which has struggled along with other booksellers as people buy more books online and from discounters, announced a new CEO and other top managers Monday as it also reported weak holiday sales.

Tyson Foods Inc. said Monday that its president and chief executive, Dick Bond, will step down immediately and be replaced by a former CEO as the world's largest meat processor continues to weather a downturn in the industry.

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The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

Citgo has suspended its free heating oil program for low-income residents, Citizens Energy Chairman Joseph Kennedy announced Monday.

Subaru said Monday its U.S. sales crept higher in 2008, making the Japanese manufacturer poised to be the only major automaker to post a yearly sales increase.

Russia's cutoff of natural gas to Ukraine was forcing several European countries to dip into reserves Monday, with Moscow tightening the tap even further.

Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed.

Japan auto executives gathered for an annual New Year's party Monday expressed hopes for a U.S. turnaround and a strengthening dollar to fix the faltering global market.

China launched a major crackdown on Internet pornography Monday targeting popular online portals and major search engines such as Google.