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President Barack Obama and Treasury Secretary Tim Geithner have announced stricter rules on executive compensation at banks receiving "exceptional" levels of aid from the federal government. Some executives will have their annual salary capped at $500,000.

The economy shrank at a pace of 3.8 percent in the final three months of last year, the worst performance in more than two decades. At the White House, President Barack Obama took note as he was launching a task force to focus on helping the middle class.

President Obama will soon have the chance to appoint a new justice to the U.S. Supreme Court. Justice David Souter is planning to retire at the end of the court's term.

Indian commandos are still fighting gunmen in Mumbai. At least 150 people were killed with hundreds more injured in the coordinated attacks, which began on Wednesday night. India is blaming the attacks on Islamic extremists. NPR's Alex Cohen talks to reporter Anuj Chopra, who was at the Taj Mahal Hotel in Mumbai, one of the main targets of the attacks.

President-elect Barack Obama is said to have chosen Chicago schools chief Arne Duncan to serve as education secretary. Duncan has run the country's third-biggest school district for the past seven years. He has focused on improving struggling schools, closing those that fail and getting better teachers.

The Senate has voted 94-2 to confirm Hillary Clinton as secretary of State. Clinton was expected to be confirmed Tuesday, but Texas Sen. John Cornyn raised objections, citing foreign contributions to Bill Clinton's foundation.

President Barack Obama is freezing all pending federal rules changes left by the Bush administration. He also froze salaries for White House staffers who make more than $100,000 a year. And because of some bungled wording during Tuesday's swearing-in ceremony, Chief Justice John Roberts re-administered the oath to Obama Wednesday.

The impeachment trial of Illinois Governor Rod Blagojevich begins Monday in the state Senate. Instead of going to the state capital to defend himself against charges that he has abused the power of his office, Blagojevich will be making the rounds to TV studios in New York. He's trying to salvage what's left of his flagging political career.

The latest movie in the Star Trek franchise opens on Thursday — though it premiered Wednesday night at the San Diego Comic-Con. Director Justin Lin was there to walk the fine line with fans.

The State Department is holding back on the money for recovery funds for Syria. It was promised by departing Secretary of State Tillerson, and was to go to areas controlled by U.S.-backed rebels.