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Asia shares gain on Citi rescue but risks remain
HONG KONG (Reuters) - Asian shares rose on Tuesday and so-called safe haven assets such as bonds fell after the U.S. government rescued banking giant Citigroup to prevent further damage to the ailing global financial system.
Paulson to announce program to boost consumer loans: report
(Reuters) - Treasury Secretary Henry Paulson plans to announce on Tuesday the formation of a program to increase the availability of auto loans, student loans and credit cards, the Wall Street Journal reported, citing people familiar with the matter.
China growth seen slowing
BEIJING (Reuters) - China's growth could well slow to its weakest pace in almost two decades next year, the World Bank said, the latest grim prognosis for a global economy buckling despite the concerted efforts of policymakers.
Bin Laden's ex-driver to be sent to Yemen: report
WASHINGTON (Reuters) - The U.S. military is transferring Osama bin Laden's former driver, Salim Hamdan, from the U.S. naval base in Guantanamo Bay to his home country of Yemen, The Washington Post reported in Tuesday's editions, citing two government officials.
South Korea readies for pullout from factories in North
SEOUL (Reuters) - North and South Korea were negotiating on Tuesday how many South Koreans would be pulled out of an industrial enclave in the North once hailed as a model of cooperation between the rival states.
Small U.S. stores adopt personal touch to survive
LIBERTYVILLE, Illinois (Reuters) - Many U.S. retailers, large and small, have good reason to envy Sue Opeka -- sales at her store have been up 15 percent for the past four months and she's up 5 percent for the year so far.
NJ church shooting suspect captured in Ga.
AP - A California man accused of driving to New Jersey and fatally shooting his estranged wife and another man inside a church has been captured in Georgia.
Brees leads Saints to 51-29 win over Packers
AP - Drew Brees and Deuce McAllister gave Saints fans what they longed to see after 43 days away from the Louisiana Superdome.
Asia shares gain on Citi rescue but risks remain
Reuters - Asian shares rose on Tuesday and so-called safe haven assets such as bonds fell after the U.S. government rescued banking giant Citigroup to prevent further damage to the ailing global financial system.
Paulson to announce program to boost consumer loans: report
Reuters - Treasury Secretary Henry Paulson plans to announce on Tuesday the formation of a program to increase the availability of auto loans, student loans and credit cards, the Wall Street Journal reported, citing people familiar with the matter.
China growth seen slowing
Reuters - China's growth could well slow to its weakest pace in almost two decades next year, the World Bank said, the latest grim prognosis for a global economy buckling despite the concerted efforts of policymakers.
Bin Laden's ex-driver to be sent to Yemen: report
Reuters - The U.S. military is transferring Osama bin Laden's former driver, Salim Hamdan, from the U.S. naval base in Guantanamo Bay to his home country of Yemen, The Washington Post reported in Tuesday's editions, citing two government officials.
South Korea readies for pullout from factories in North
Reuters - North and South Korea were negotiating on Tuesday how many South Koreans would be pulled out of an industrial enclave in the North once hailed as a model of cooperation between the rival states.
Asia shares rally on Citi rescue
HONG KONG (Reuters) - Asian shares rallied and bonds fell after the U.S. government rescued banking giant Citigroup in a bid to prevent further damage to the ailing global financial system.
Paulson to unveil facility to boost consumer loans: report
(Reuters) - U.S. Treasury Secretary Henry Paulson plans to announce on Tuesday the formation of a program to increase the availability of auto loans, student loans and credit cards, the Wall Street Journal reported, citing people familiar with the matter.
Obama promotes fiscal restraint, big spending
AP - President-elect Barack Obama wants to project fiscal restraint even as his economic team assembles a massive recovery package that could cost several hundred billion dollars.
Bush's pardon list shows no high-profile convicts
AP - President George W. Bush's latest list of pardons does not include some high-profile criminals who still hope the president will grant them clemency in his final weeks in office.
Finally, urine recycler passes astronauts' test
AP - After several days without luck, astronauts finally ran a successful test on equipment that turns urine into drinking water — a necessity for supporting the international space station's crew, which will soon double.
Asia shares rally on Citi rescue
Reuters - Asian shares rallied and bonds fell after the U.S. government rescued banking giant Citigroup in a bid to prevent further damage to the ailing global financial system.
Paulson to unveil facility to boost consumer loans: report
Reuters - U.S. Treasury Secretary Henry Paulson plans to announce on Tuesday the formation of a program to increase the availability of auto loans, student loans and credit cards, the Wall Street Journal reported, citing people familiar with the matter.
U.S. economy contracting, slow recovery seen: OECD
WASHINGTON (Reuters) - The U.S. economy has probably slipped into a recession that will last through the middle of 2009, and recovery will be slow as consumers cut spending to rebuild lost wealth, the OECD said on Tuesday.
China growth to slow
BEIJING/LONDON (Reuters) - Slowing Chinese growth and confirmation of major nations contracting painted a bleak economic picture on Tuesday, a backdrop which miner BHP Billiton cited in abandoning a mega-bid for Rio Tinto.
Shares fall in Europe and yen rallies broadly
LONDON (Reuters) - European stocks fell more than 1 percent on Tuesday and the low-yielding yen rose broadly as euphoria surrounding the U.S. rescue of Citigroup gave way to concerns about sharply deteriorating major economies.
Asian markets rise after Wall Street rally
AP - Asian markets rose sharply Tuesday as investors regained some confidence after a strong overnight showing by Wall Street and the U.S. government's bailout of banking giant Citigroup. European markets, which soared Monday, opened lower.
Obama using bully pulpit to tackle economy
AP - Pushing the calendar, and maybe his luck, President-elect Barack Obama is urging rapid approval of a massive economic stimulus package meant to calm turbulent financial markets.
Pakistan gets $7.6 billion loan package from IMF
AP - Pakistan, the front-line state in the battle against Islamist terrorism, has won final approval for a $7.6 billion loan from the International Monetary Fund to help stave off a possible economic meltdown.
Holy Land retrial ends in sweeping guilty verdicts
AP - After 15 years and two trials, the government has finally brought down the Holy Land Foundation for Relief and Development, once the largest Muslim charity in the U.S.
Vick hoping to move closer to freedom with plea
AP - Michael Vick is expected to plead guilty to state dogfighting charges Tuesday, a necessary step to make him eligible for early release.
U.S. economy contracting, slow recovery seen: OECD
Reuters - The U.S. economy has probably slipped into a recession that will last through the middle of 2009, and recovery will be slow as consumers cut spending to rebuild lost wealth, the OECD said on Tuesday.
China growth to slow
Reuters - Slowing Chinese growth and confirmation of major nations contracting painted a bleak economic picture on Tuesday, a backdrop which miner BHP Billiton cited in abandoning a mega-bid for Rio Tinto.
Shares fall in Europe and yen rallies broadly
Reuters - European stocks fell more than 1 percent on Tuesday and the low-yielding yen rose broadly as euphoria surrounding the U.S. rescue of Citigroup gave way to concerns about sharply deteriorating major economies.
Citigroup bailout breeds relief, caution
AFP - The rescue of US banking giant Citigroup and steps by governments to spur economic growth calmed fears of financial turmoil on Tuesday, tempered with caution over the wider scope of the crisis.
China's economy slows and Germany's shrinks
LONDON (Reuters) - Recession in Germany and a slowdown in China painted a bleak economic picture on Tuesday, a backdrop which top miner BHP Billiton cited in abandoning a $66 billion bid for Rio Tinto.
Pakistan can stop drone raids: air force chief
ISLAMABAD (Reuters) - Pakistan's air force is fully capable of stopping missile strikes by pilotless U.S. drones but it is up to the government to decide whether to do that, the air force chief said on Tuesday.
Black Friday weekend could see 5 percent fewer shoppers
SAN FRANCISCO (Reuters) - Up to 128 million shoppers and would-be shoppers could be expected this holiday weekend, but the numbers represent a drop of more than 5 percent from a year ago, according to a survey released Tuesday.
ElBaradei to West: Syria nuclear aid not bomb risk
VIENNA (Reuters) - Syria's bid for aid in planning a nuclear power plant poses no bomb-making risk and a Western move to block the project threatens to discredit the U.N. nuclear watchdog, the IAEA's director said in remarks released on Tuesday.
Somali pirates hijack Yemeni cargo ship
NAIROBI (Reuters) - Somali pirates have hijacked a Yemeni ship loaded with steel in the Gulf of Aden, officials said on Tuesday, a day after local sources said the gang holding a Saudi supertanker were demanding a $15 million ransom.
Obama to give more details of budget plan today
AP - President-elect Barack Obama wants to project fiscal restraint even as his economic team assembles a massive recovery package that could cost several hundred billion dollars.
GDP, confidence numbers expected to show decline
AP - More economic data on the GDP, home prices and consumer confidence are due out today.
Government plans new program to aid credit issuers
AP - The government is working on a new loan program to help companies that issue credit cards, make student loans and finance car purchases.
Stocks head for moderately lower open after rally
AP - Wall Street was poised to take a break Tuesday after a huge two-day rally as stock index futures fell moderately while investors awaited a reading on the economy's output.
Britain begins national identity card plan
AP - Britain has begun a national identity card plan for some foreign nationals in an attempt to combat terrorism and identity fraud.
Shots fired as contending Thai factions fight
AP - Thai anti-government demonstrators fired shots at government supporters as the rival sides clashed Thursday afternoon on a major highway in the Thai capital of Bangkok.
Alan Colmes is leaving 'Hannity & Colmes' TV show
AP - Fox News Channel's Sean Hannity is losing his liberal half. Alan Colmes of the network's 'Hannity & Colmes' said Monday that he'll be leaving the prime-time show after 12 years. He'll continue as a commentator on Fox programs, keep doing his radio show and is developing a weekend show at Fox.
Jail time dropped in Dubai beach sex trial
AP - A British couple convicted of having sex on a Dubai beach had their prison sentences suspended by an appeals court on Tuesday in a case that exposed a cultural divide in this glitzy Gulf boomtown.
China's economy slows and Germany's shrinks
Reuters - Recession in Germany and a slowdown in China painted a bleak economic picture on Tuesday, a backdrop which top miner BHP Billiton cited in abandoning a $66 billion bid for Rio Tinto.
Pakistan can stop drone raids: air force chief
Reuters - Pakistan's air force is fully capable of stopping missile strikes by pilotless U.S. drones but it is up to the government to decide whether to do that, the air force chief said on Tuesday.
Black Friday weekend could see 5 percent fewer shoppers
Reuters - Up to 128 million shoppers and would-be shoppers could be expected this holiday weekend, but the numbers represent a drop of more than 5 percent from a year ago, according to a survey released Tuesday.
ElBaradei to West: Syria nuclear aid not bomb risk
Reuters - Syria's bid for aid in planning a nuclear power plant poses no bomb-making risk and a Western move to block the project threatens to discredit the U.N. nuclear watchdog, the IAEA's director said in remarks released on Tuesday.
Somali pirates hijack Yemeni cargo ship
Reuters - Somali pirates have hijacked a Yemeni ship loaded with steel in the Gulf of Aden, officials said on Tuesday, a day after local sources said the gang holding a Saudi supertanker were demanding a $15 million ransom.
Rich countries face worst recessions since early 1980s: OECD
AFP - Many leading industrialised nations face their worst economic downturn for 25 years, the OECD warned on Tuesday, forecasting that the US, European and Japanese economies would shrink next year.
U.S. launches support plan
LONDON (Reuters) - The United States and Europe prepared fresh measures on Tuesday to tackle a sharp economic downturn, which top miner BHP Billiton cited in abandoning a $66 billion bid for Rio Tinto.
Economy contracting, slow recovery seen: OECD
WASHINGTON (Reuters) - The economy has probably slipped into a recession that will last through the middle of 2009, and recovery will be slow as consumers cut spending to rebuild lost wealth, the OECD said on Tuesday.
BHP dumps Rio mining mega-bid as downturn bites
SYDNEY/LONDON (Reuters) - Global miner BHP Billiton abandoned its hostile takeover bid for rival Rio Tinto, blaming sliding metals prices and the threat of global recession for scuppering the mega-merger.
U.S. "surge" could prop up allies in Afghan south
KABUL (Reuters) - British, Canadian and Dutch troops are doing their best to fight the Taliban in southern Afghanistan with limited resources, but with progress slow, the United States is considering a surge of its own firepower to tip the balance.
Why hijack a plane when you can seize a supertanker?
SINGAPORE (Reuters) - When pirates armed with little more than AK-47s and rope ladders seized a supertanker last week, they showed how simple it is to storm a ship -- a vulnerability that al Qaeda could exploit to attack the global economy.
Syria move on nuclear plant not a risk: ElBaradei
VIENNA (Reuters) - A bid by Syria for aid in planning a nuclear power plant poses no proliferation risk and a Western move to block the project could discredit the U.N. nuclear watchdog, its chief said in remarks released on Tuesday.
Fed announces new mortgage-support program
WASHINGTON (Reuters) - The Federal Reserve, in another massive life-support intervention for the U.S. financial system, on Tuesday announced a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to support consumer debt securities,
Economy's tumble even worse than expected in 3Q
AP - The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years, further proof the country is almost certainly in the throes of a painful recession.
Government plans new credit, mortgage programs
AP - The government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available.
Fed says it will buy mortgage-related assets
AP - The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the financial crisis.
Protesters force Thai airport to suspend takeoffs
AP - Bangkok's international airport has suspended departing flights because anti-government demonstrators have swarmed the terminal.
Seuss lawyers stop holiday Who-ville in Louisville
AP - There will be no Who-ville in Louisville this Christmas.
U.S. launches support plan
Reuters - The United States and Europe prepared fresh measures on Tuesday to tackle a sharp economic downturn, which top miner BHP Billiton cited in abandoning a $66 billion bid for Rio Tinto.
Economy contracting, slow recovery seen: OECD
Reuters - The economy has probably slipped into a recession that will last through the middle of 2009, and recovery will be slow as consumers cut spending to rebuild lost wealth, the OECD said on Tuesday.
U.S. "surge" could prop up allies in Afghan south
Reuters - British, Canadian and Dutch troops are doing their best to fight the Taliban in southern Afghanistan with limited resources, but with progress slow, the United States is considering a surge of its own firepower to tip the balance.
Why hijack a plane when you can seize a supertanker?
Reuters - When pirates armed with little more than AK-47s and rope ladders seized a supertanker last week, they showed how simple it is to storm a ship -- a vulnerability that al Qaeda could exploit to attack the global economy.
Forecasts deepen economic gloom amid stimulus bids
AFP - The rich world is plunging into the worst economic downturn in decades, the OECD forecast on Tuesday, as governments scrambled to prepare their nations for soaring unemployment and recession.
Thai protesters storm Bangkok airport terminal
AFP - Bangkok's Suvarnabhumi international airport was closed Tuesday after anti-government protesters stormed the terminal, airport authorities said.
Fed throws fresh lifeline to U.S. financial system
WASHINGTON (Reuters) - The Federal Reserve, in another massive life-support intervention for the U.S. financial system, on Tuesday announced a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to support consumer debt securities.
Economy shrinks at faster pace in third quarter
WASHINGTON (Reuters) - The economy contracted at its fastest pace in seven years in the third quarter as consumer spending plunged to a 28-year low, data showed on Tuesday, raising the specter of a deeper recession.
Obama to outline cuts to U.S. budget
CHICAGO (Reuters) - President-elect Barack Obama will outline steps to trim the federal budget on Tuesday as he simultaneously plans a costly stimulus package to jolt the ailing U.S. economy.
Government announces new loan programs
AP - The government, still struggling to manage a severe financial crisis, unveiled two new programs Tuesday that will provide $800 billion to try to help unfreeze the market for consumer debt from home mortgages to credit cards.
Consumer confidence rise in November
AP - Consumer confidence rose in November amid receding gas prices, but Americans' views on the economy remain the gloomiest in decades as they grapple with massive layoffs, slumping home prices and dwindling retirement funds.
Protesters swarm Thai airport, takeoffs suspended
AP - Anti-government demonstrators swarmed Bangkok's international airport late Tuesday, halting departing flights, as opponents and supporters of Thailand's government fought in the streets of the city.
Michael Vick plea could speed release from prison
AP - Former NFL quarterback Michael Vick pleaded guilty Tuesday to a state dogfighting charge, a move that could make him eligible to leave prison early and potentially speed up a return to pro football.
Feds unveil plans to unfreeze consumer debt market
AP - The government has introduced a pair of new programs that will provide $800 billion to help unfreeze the market for consumer debt which Treasury Secretary Henry Paulson calls vital to supporting the economy.
Fed throws fresh lifeline to financial system
Reuters - The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards.
Economy shrinks at faster pace in third quarter
Reuters - The economy contracted at its fastest pace in seven years in the third quarter as consumer spending plunged to a 28-year low, data showed on Tuesday, raising the specter of a deeper recession.
Amid chilling forecasts of economic slide, Obama prepares to act
AFP - The rich world now faces its worst economic crisis in decades, the OECD warned Tuesday, as incoming US president Barack Obama prepared to outline further plans to salvage a steadily weakening US economy.
Bangkok airport closed after protesters storm terminal: officials
AFP - Bangkok's main international airport halted all flight operations on Tuesday after anti-government protesters stormed the departures area, Thai authorities said.
Fed throws fresh lifeline to financial system
WASHINGTON (Reuters) - The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards.
Obama promises cuts in budget
CHICAGO (Reuters) - President-elect Barack Obama announced his top budget officials on Tuesday and promised significant spending cuts to partially offset a costly stimulus package that aims to revive the U.S. economy.
Economy shrinks at fastest pace in seven years
WASHINGTON (Reuters) - The economy contracted at its fastest pace in seven years in the third quarter as consumer spending plunged to a 28-year low, data showed on Tuesday, raising the specter of a deeper recession.
Syrian nuclear study not a bomb risk: ElBaradei
VIENNA (Reuters) - A bid by Syria for aid in planning a nuclear power plant poses no proliferation risk and a Western move to block the project could discredit the U.N. nuclear watchdog, its chief said in remarks released on Tuesday.
Obama names budget director, promotes restraint
AP - President-elect Barack Obama pledged to make deficit reduction a goal of his administration Tuesday — but only after recovery from the financial crisis is well under way. 'We are going to have to jump start the economy,' he said.
Consumer confidence rises in November
AP - Consumer confidence rose in November amid receding gas prices, but Americans' views on the economy remain the gloomiest in decades as they grapple with massive layoffs, slumping home prices and dwindling retirement funds.
Economic tumble worse than expected in 3rd quarter
AP - The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years, further proof the country is almost certainly in the throes of a painful recession.
Mich. police: 3 girls found safe after mom slain
AP - Police in Saginaw, Mich., say three young girls missing since their mother was found dead at their home have been found safe.
British government's identity card plan begins
AP - The British government began its identity card program for foreign nationals Tuesday — six years after heated debate over whether the costly plan is an effective tool against terrorism, identity theft and welfare fraud.
Michael Vick pleads to state dogfighting charge
AP - Former NFL quarterback Michael Vick pleaded guilty Tuesday to a state dogfighting charge, a move that could make him eligible to leave prison early and potentially speed up a return to pro football.
Obama promises cuts in budget
Reuters - President-elect Barack Obama announced his top budget officials on Tuesday and promised significant spending cuts to partially offset a costly stimulus package that aims to revive the U.S. economy.
Economy shrinks at fastest pace in seven years
Reuters - The economy contracted at its fastest pace in seven years in the third quarter as consumer spending plunged to a 28-year low, data showed on Tuesday, raising the specter of a deeper recession.
Syrian nuclear study not a bomb risk: ElBaradei
Reuters - A bid by Syria for aid in planning a nuclear power plant poses no proliferation risk and a Western move to block the project could discredit the U.N. nuclear watchdog, its chief said in remarks released on Tuesday.
Obama vows to get US budget in shape despite stimulus plans
AFP - President-elect Barack Obama Tuesday vowed to erase red ink and wasteful spending from the deficit-ridden US budget even while promising to do what it takes to revive stalled growth in the short run.
Bangkok airport closed as protests turn violent
AFP - Rampaging anti-government protesters forced the closure of Thailand's main international airport Tuesday as a second day of demonstrations in Bangkok descended into violence with 11 injured in clashes.
U.S. launches support plan as contraction takes hold
NEW YORK (Reuters) - The U.S. Federal Reserve unveiled an $800 billion plan on Tuesday to buy mortgage-related debt and back consumer loans as it tries to revive the U.S. lending market and steer the global economy away from a deep recession.
Thai protesters storm airport
BANGKOK (Reuters) - Anti-government protesters stormed Bangkok's main international airport and gunfire broke out on the streets of the Thai capital on Tuesday as a campaign to oust Prime Minister Somchai Wongsawat turned violent.
Michael Vick pleads guilty on state charges
SUSSEX, Virginia (Reuters) - Former NFL star Michael Vick pleaded guilty to state dogfighting charges on Tuesday in a plea deal that nets him no additional jail time and resolves his remaining criminal charges.
Wall Street fluctuates after big 2-day rally
AP - Wall Street showed some signs of stability Tuesday as investors, heartened by government plans to aid consumer lending companies, selectively bought stocks after a huge two-day rally. Tech stocks lagged the market amid concerns that businesses will continue slashing their capital spending in a recession.
FDIC's list of 'problem' banks swells to 171
AP - The Federal Deposit Insurance Corp. said Tuesday the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter — yet another sign of escalating problems among the institutions controlling Americans' deposits.
Afghan teacher wants acid thrown on her attackers
AP - KANDAHAR, Afghanistan — A 23-year-old teacher burned in an acid attack on 15 schoolgirls and instructors wants the Afghan government to throw acid on her attackers and then hang them. Kandahar's governor said Tuesday that authorities had arrested 10 alleged Taliban militants for the Nov. 12 attack in this southern city and that several confessed to taking part.
Study: Math teachers a chapter ahead of students
AP - Math can be hard enough, but imagine the difficulty when a teacher is just one chapter ahead of the students. It happens, and it happens more often to poor and minority students. Those children are about twice as likely to have math teachers who don't know their subject, according to a report by the Education Trust, a children's advocacy group.
Maine archaeologists find remains of slave ship
AP - Marine archaeologists have found the remains of a slave ship wrecked off the Turks and Caicos Islands in 1841, an accident that set free the ancestors of many current residents of those islands. Some 192 Africans survived the sinking of the Spanish ship Trouvadore off the British-ruled islands, where the slave trade was banned.
Brazil mulls tax break to draw its citizens' cash
AP - A Brazilian senator is proposing tax incentives to encourage the return billions of dollars sent that were shipped abroad.
Michael Vick pleads guilty to state dogfighting charge
AP - Former NFL quarterback Michael Vick pleaded guilty Tuesday to a state dogfighting charge, a move that could make him eligible to leave prison early and potentially speed up a return to pro football.
U.S. launches support plan as contraction takes hold
Reuters - The U.S. Federal Reserve unveiled an $800 billion plan on Tuesday to buy mortgage-related debt and back consumer loans as it tries to revive the U.S. lending market and steer the global economy away from a deep recession.
Obama vows to slash wasteful spending
Reuters - President-elect Barack Obama vowed on Tuesday to cut billions of dollars from wasteful government programs as he sought to reassure Americans anxious about a growing mountain of debt and a faltering economy.
Thai protesters storm airport
Reuters - Anti-government protesters stormed Bangkok's main international airport and gunfire broke out on the streets of the Thai capital on Tuesday as a campaign to oust Prime Minister Somchai Wongsawat turned violent.
Recession keeps more Americans home for holidays
Reuters - More Americans will stay close to home during the holiday season because of financial woes instead of traveling to see family, marking the first decline in Thanksgiving travel since 2002, a motorist group said.
Michael Vick pleads guilty on state charges
Reuters - Former NFL star Michael Vick pleaded guilty to state dogfighting charges on Tuesday in a plea deal that nets him no additional jail time and resolves his remaining criminal charges.
U.S. officials find trace of melamine in baby formula
WASHINGTON (Reuters) - U.S. health officials have uncovered trace amounts of the chemical melamine in one sample of infant formula sold in the United States, a Food and Drug Administration spokeswoman said on Tuesday.
Obama vows to slash wasteful spending
CHICAGO (Reuters) - President-elect Barack Obama vowed on Tuesday to cut billions of dollars from wasteful government programs as he sought to reassure Americans anxious about a growing mountain of debt and a faltering economy.
Gates to stay as U.S. defense secretary: report
WASHINGTON (Reuters) - U.S. Defense Secretary Robert Gates has agreed to stay on under President-elect Barack Obama and retired Marine Gen. James Jones will be named national security adviser, the Politico news website said on Tuesday.
Fed plan boosts Dow, S&P as Cisco sinks Nasdaq
NEW YORK (Reuters) - The Dow and S&P 500 gained on Tuesday on optimism that the Federal Reserve's latest rescue package could revive the sagging housing market and free up consumer lending.
Recession keeps more Americans home for holidays
WASHINGTON (Reuters) - More Americans will stay close to home during the holiday season because of financial woes instead of traveling to see family, marking the first decline in Thanksgiving travel since 2002, a motorist group said.
U.S. urges continued tough Russia line over Georgia
WASHINGTON (Reuters) - Russia is still failing to meet its ceasefire obligations with Georgia and Washington's European allies must not overlook this and rush to embrace Moscow, a senior U.S. official said on Tuesday.
Obama: Economic rescue will trump deficit fight
AP - The economy growing weaker, President-elect Barack Obama said Tuesday that recovery efforts will trump deficit concerns when he takes office in January. Yet he pledged a 'page-by-page, line-by-line' budget review to root out unneeded spending.
Congress expecting more sacrifices from automakers
AP - A list of job cuts, shuttered factories, canceled bonuses and commitments to fuel-efficient cars won't be enough next week when U.S. automakers get another shot to persuade Congress to give them $25 billion in loans. Through the Thanksgiving weekend, teams will be tagging more meat to throw at skeptical lawmakers who vilified the automakers' top executives the last time they went to Washington.
Lieberman: Obama 'about perfect' in Cabinet picks
AP - Connecticut Sen. Joe Lieberman took another step Tuesday toward mending his relationship with Democrats, saying that Barack Obama's actions since winning the presidency have been 'just about perfect.'
Germ alert: Steer clear of flatbed chicken trucks
AP - You've heard about the chicken that crossed the road. But have you heard the one about the chickens traveling down the road? It's no laughing matter. Crates of chickens being trucked along the highway in the back of an open truck can shoot a bunch of nasty bacteria into the cars behind them, researchers have found.
Marine archaeologists find remains of slave ship
AP - Marine archaeologists have found the remains of a slave ship wrecked off the Turks and Caicos Islands in 1841, an accident that set free the ancestors of many current residents of those islands. Some 192 Africans survived the sinking of the Spanish ship Trouvadore off the British-ruled islands, where the slave trade was banned.
Man accused of stealing teachers' frozen lunches
AP - A man was accused of breaking into a Dayton preschool and making off with the teachers' frozen lunch entrees. Police said an officer who responded to a burglar alarm at a Miami Valley Child Development location last Saturday noticed a 51-year-old man walking away from the building.
U.S. officials find trace of melamine in baby formula
Reuters - U.S. health officials have uncovered trace amounts of the chemical melamine in one sample of infant formula sold in the United States, a Food and Drug Administration spokeswoman said on Tuesday.
Gates to stay as U.S. defense secretary: report
Reuters - U.S. Defense Secretary Robert Gates has agreed to stay on under President-elect Barack Obama and retired Marine Gen. James Jones will be named national security adviser, the Politico news website said on Tuesday.
Fed plan boosts Dow, S&P as Cisco sinks Nasdaq
Reuters - The Dow and S&P 500 gained on Tuesday on optimism that the Federal Reserve's latest rescue package could revive the sagging housing market and free up consumer lending.
Rio Tinto says can weather storm without BHP
SYDNEY (Reuters) - Global miner Rio Tinto Ltd sees no need to raise equity and is confident of selling assets soon to pay off debt, its chairman said on Wednesday, a day after rival BHP Billiton Ltd dropped its bid for the firm.
More Americans are getting on the bus
NEW YORK (Reuters) - Many Americans have abandoned their love of getting behind the wheel during the last year, and opted to hop on buses instead, according to a study released this week.
Officials: Obama asks Gates to stay at Pentagon
AP - Seeking experience in a time of war, President-elect Barack Obama will keep Defense Secretary Robert Gates in that job — if only temporarily — and he has chosen a retired Marine general to be his national security adviser, officials said Tuesday. Gates and retired Gen. James Jones bring years of experience to the Cabinet of a 47-year-old commander in chief with a relatively thin foreign policy resume.
U.S. unveils massive new programs to ease credit
AP - Rolling out powerful new weapons against the financial meltdown, the Bush administration and the Federal Reserve pledged $800 billion Tuesday to blast through blockades on credit cards, auto loans, mortgages and other borrowing. Total bailout commitments neared a staggering $7 trillion.
Prosecutor: Man confesses to NJ church killings
AP - A man accused of gunning down his estranged wife and a man in a New Jersey church told authorities Tuesday in a videotaped confession that he would've killed everyone in the building if he'd had a machine gun, a Georgia prosecutor said.
Accused drunk driver ends up running over himself
AP - A 21-year-old man was accused of driving drunk and leading police on a chase that finally ended with him running over himself. The man was treated for minor injuries at a Santa Fe hospital and booked in to the Sandoval County detention center on charges of aggravated driving while intoxicated, fleeing a police officer, careless driving and two other outstanding traffic warrants.
AP Interview: Mitchell thinks drug use down in MLB
AP - Nearly one year later, George Mitchell wouldn't change a word of his report. His investigation of drugs in baseball tarnished the reputation of Roger Clemens and dozens of other players, led to a toughened drug agreement and created an impression that clubhouses were teeming with performance-enhancers.
Rio Tinto says can weather storm without BHP
Reuters - Global miner Rio Tinto Ltd sees no need to raise equity and is confident of selling assets soon to pay off debt, its chairman said on Wednesday, a day after rival BHP Billiton Ltd dropped its bid for the firm.
U.S. urges continued tough Russia line over Georgia
Reuters - Russia is still failing to meet its ceasefire obligations with Georgia and Washington's European allies must not overlook this and rush to embrace Moscow, a senior U.S. official said on Tuesday.
Blast hits Bangkok international airport: emergency services
AFP - A blast occurred at Bangkok's main international airport on Wednesday, emergency services said, while local television reported that it was a grenade attack that injured three people.
U.S. finds trace of melamine in baby formula
WASHINGTON (Reuters) - U.S. health officials have found trace amounts of the chemical melamine in one sample of infant formula sold in the United States, a Food and Drug Administration spokeswoman said on Tuesday.
Bank "went wrong" in real estate: Citigroup CEO
NEW YORK (Reuters) - Citigroup Inc Chief Executive Vikram Pandit on Tuesday blamed prior management for diving too deeply into real estate, causing losses that led to this week's massive government bailout of the second-largest U.S. bank by assets.
Singapore Airlines cancels flights to Bangkok
SINGAPORE (Reuters) - Singapore Airlines will cancel all its flights to and from Bangkok on Wednesday, after anti-government protesters occupied the international airport in the Thai capital. The airline said efforts will be made to reaccommodate customers on flights when security stabilizes and flights resume, with an assessment to be made later on flights beyond Wednesday.
Rio Tinto under pressure on asset sales
SYDNEY/MELBOURNE (Reuters) - Global miner Rio Tinto Ltd said on Wednesday it was confident it could sell billions of dollars in assets to pay down massive debt, despite concerns about a lack of buyers, a day after rival BHP Billiton Ltd dropped a bid for the firm.
Officials: Obama to ask Gates to stay at Pentagon
AP - Seeking experience in wartime, President-elect Barack Obama intends to re-enlist Defense Secretary Robert Gates as head of the Pentagon — if only temporarily — and has chosen a retired Marine general to be White House national security adviser, officials said Tuesday.
Protesters shut Thailand's international airport
AP - Thousands of protesters occupied Thailand's main international airport Wednesday, halting all flights in a blow to the country's already-fragile tourism industry as they pressed their demand for the government's resignation.
U.S. finds trace of melamine in baby formula
Reuters - U.S. health officials have found trace amounts of the chemical melamine in one sample of infant formula sold in the United States, a Food and Drug Administration spokeswoman said on Tuesday.
Citigroup CEO: Bank 'went wrong' in real estate
Reuters - Citigroup Inc Chief Executive Vikram Pandit on Tuesday blamed prior management for diving too deeply into real estate, causing losses that led to this week's massive government bailout of the second-largest U.S. bank by assets.
Singapore Airlines cancels flights to Bangkok
Reuters - Singapore Airlines will cancel all its flights to and from Bangkok on Wednesday, after anti-government protesters occupied the international airport in the Thai capital. The airline said efforts will be made to reaccommodate customers on flights when security stabilizes and flights resume, with an assessment to be made later on flights beyond Wednesday.
Rio Tinto under pressure on asset sales
Reuters - Global miner Rio Tinto Ltd said on Wednesday it was confident it could sell billions of dollars in assets to pay down massive debt, despite concerns about a lack of buyers, a day after rival BHP Billiton Ltd dropped a bid for the firm.
Thousands stranded as protesters seize Bangkok airport
AFP - Thai protesters on Wednesday tightened their hold on Bangkok airport, where two people were wounded in a blast and thousands of travellers left stranded by demonstrators vowing to topple the government.
UN to send Obasanjo on second Congo peace mission
AFP - Special envoy Olusegun Obasanjo will embark on a second peace mission to Congo this weekend, the UN said Tuesday, as AFP learnt of a row developing with Kinshasa over Indian peacekeeping troops.
Ex-AIG exec under probe by U.S. prosecutors: report
NEW YORK (Reuters) - Former American International Group Inc executive Joseph Cassano is under investigation by U.S. prosecutors for possibly misleading auditors and investors about subprime mortgage-related losses, according to a Bloomberg report citing people familiar with the probe.
U.S. sends bin Laden's driver home from Guantanamo
MIAMI (Reuters) - The United States sent Osama bin Laden's former driver home to Yemen from the Guantanamo prison camp to serve the last few weeks of his sentence for providing material support for terrorism, the Pentagon said on Tuesday.
Britney Spears feels old and boring
LOS ANGELES (Reuters) - Britney Spears says her life is so dull under her father's watchful eye that she feels old and boring.
Burke is 'Dancing' queen
AP - Brooke Burke waltezed away with the mirror ball trophy on the 'Dancing with the Stars' finale.
Ex-AIG exec under probe by U.S. prosecutors: report
Reuters - Former American International Group Inc executive Joseph Cassano is under investigation by U.S. prosecutors for possibly misleading auditors and investors about subprime mortgage-related losses, according to a Bloomberg report citing people familiar with the probe.
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