The Wall Street Journal reports that Citigroup Inc. (NYSE: C) has halted withdrawals [subscription required] from one of its hedge funds specilizing in corporate debt, CSO Partners, after investors holding around 30% of the $500 million fund tried to pull out their money. Citigroup injected around $100 million into the fund last month in an effort to stabilize it after it lost 11% in 2007.

UAL Corp. (NYSE: UAUA) and Continental Airlines (NYSE: CAL) are in advanced talks about a possible merger. But Continental needs to wait until partner Northwest Airlines (NYSE: NWA) completes its own rumored deal with Delta Air Lines (NYSE: DAL) because Northwest can block any deal involving Continental due to a veto power from its one-time stake in Continental.

Clear Channel Communications Inc. (NYSE: CCU) reported earnings late Thursday, saying it earned $320.6 million, or 65 cents per share, in the final three months of the year, up 52% from the same period in 2006. Revenues reached $1.84 billion, a 4% increase over the fourth quarter of 2006.

In its drive back to profitability, Ford Motor Co. (NYSE: F) management expect the current round of early retirement and buyout offers to most of its U.S. hourly workers to help the automaker's bottom line. Ford also wants to close 11 former Visteon Corp. plants. About 5,200 workers at the plants are eligible to take jobs at factories that Ford plans to keep.

The New York Times Company (NYSE: NYT) is planning to eliminate as many as 100 newsroom positions from its flagship paper. The cut would represent about 7.5% of editorial staff.

Microsoft Corp (NASDAQ: MSFT) on Thursday announced a flurry of key executive changes and departures as it shakes up the top ranks.

FORTUNE magazine wrote a piece on how Apple Inc. (NASDAQ: AAPL)'s iPhone, which represents about 0.4% of the mobile handset market, generates a lot of Internet traffic