CHICAGO (Reuters) - President-elect Barack Obama takes another step toward tackling the ailing U.S. economy on Wednesday as part of an aggressive effort to demonstrate that his administration will face the global financial crisis head-on.

WASHINGTON (Reuters) - Former Federal Reserve Chairman Paul Volcker will chair a new economic advisory panel created by President-elect Barack Obama and designed to stabilize financial markets, the Wall Street Journal reported on Wednesday.

HONG KONG (Reuters) - Stocks in Japan and Australia fell Wednesday after a report showed the U.S. economy shrank by the most since 2001, underscoring sharply slowing global demand, while South Korean shares were boosted by steelmakers after BHP Billiton killed its bid for Rio Tinto.

KABUL (Reuters) - U.S.-led coalition forces killed 10 militants in two separate operations aimed at wanted Taliban commanders in southeastern Afghanistan, the U.S. military said on Wednesday.

BANGKOK (Reuters) - Anti-government protesters stormed the control tower at Bangkok's main international airport on Wednesday, a day after they stormed the main terminal, forcing airlines to cancel flights, media reports said.

SINGAPORE (Reuters) - Oil rose to above $51 a barrel on Wednesday, after a near 7 percent fall the previous day, when data showed the U.S. economy last shrank at its fastest pace in seven years, reflecting slowing demand in the world's largest oil consumer.

AP - With the economy showing further signs that it is headed into a steep swoon, Treasury Secretary Henry Paulson is pulling more tricks out of his bag to try bolster the country's battered financial sector.

AP - Officials at Thailand's main airport say several anti-government protesters armed with metal rods entered the control tower, demanding the prime minister's flight schedule.

AP - Brooke Burke waltzed away with the mirror ball trophy on the 'Dancing with the Stars' finale.

Reuters - President-elect Barack Obama takes another step toward tackling the ailing U.S. economy on Wednesday as part of an aggressive effort to demonstrate that his administration will face the global financial crisis head-on.

Reuters - Former Federal Reserve Chairman Paul Volcker will chair a new economic advisory panel created by President-elect Barack Obama and designed to stabilize financial markets, the Wall Street Journal reported on Wednesday.

Reuters - Stocks in Japan and Australia fell Wednesday after a report showed the U.S. economy shrank by the most since 2001, underscoring sharply slowing global demand, while South Korean shares were boosted by steelmakers after BHP Billiton killed its bid for Rio Tinto.

Reuters - U.S.-led coalition forces killed 10 militants in two separate operations aimed at wanted Taliban commanders in southeastern Afghanistan, the U.S. military said on Wednesday.

Reuters - Anti-government protesters stormed the control tower at Bangkok's main international airport on Wednesday, a day after they stormed the main terminal, forcing airlines to cancel flights, media reports said.

Reuters - South Korean officials will clear out of an industrial enclave in North Korea on Friday, a few days before the communist state said it would clamp down on border crossings between the rivals, an official said on Wednesday.

TOKYO (Reuters) - Toyota Motor Corp had its top-notch credit ratings cut for the first time in a decade, hitting its shares and raising borrowing costs as an unprecedented slowdown reshapes the global auto industry.

HONG KONG (Reuters) - A financial sector rally lifted Hong Kong and South Korea stock markets on Wednesday following an $800 billion Federal Reserve effort to bolster U.S. lending, while the aftermath of BHP Billiton's dropped bid for Rio Tinto gave a boost to metals shares.

BANGKOK (Reuters) - Anti-government protesters tightened their grip over Bangkok's international airport on Wednesday, causing chaos in the terminal and triggering speculation of imminent intervention by the military.

SEOUL (Reuters) - South Korean officials will clear out of an industrial enclave in North Korea on Friday, a few days before the communist state said it would clamp down on border crossings between the rivals, an official said on Wednesday.

AP - President-elect Barack Obama is naming a board of economic experts outside government to advise him on ways to create jobs and bring stability to the ailing financial system.

Reuters - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with Europe considering a more than 130 billion euro boost following the U.S. Federal Reserve's $800 billion credit market bailout.

Reuters - Toyota Motor Corp had its top-notch credit ratings cut for the first time in a decade, hitting its shares and raising borrowing costs as an unprecedented slowdown reshapes the global auto industry.

Reuters - A financial sector rally lifted Hong Kong and South Korea stock markets on Wednesday following an $800 billion Federal Reserve effort to bolster U.S. lending, while the aftermath of BHP Billiton's dropped bid for Rio Tinto gave a boost to metals shares.

Reuters - Anti-government protesters tightened their grip over Bangkok's international airport on Wednesday, causing chaos in the terminal and triggering speculation of imminent intervention by the military.

LONDON (Reuters) - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with Europe considering a more than 130 billion euro boost and China announcing its biggest interest rate cut in a decade.

BAGHDAD (Reuters) - Senior members of Iraq's ruling Shi'ite-led coalition on Wednesday said they had no problem with Sunni demands for a referendum in 2009 on a security pact with Washington.

BANGKOK (Reuters) - Thailand's army chief told the elected government on Wednesday to step down and call a snap election as a way out of a deepening political crisis.

KABUL (Reuters) - U.S.-led coalition forces killed 25 militants in a series of raids against Taliban commanders in Afghanistan, the U.S. military said on Wednesday.

LONDON (Reuters) - Oil rose above $51 a barrel on Wednesday from a near 7 percent decline in the previous session, ahead of weekly U.S. oil stocks data that will help investors gauge the strength of demand in the world's top energy consumer.

AP - Thailand's influential army commander has told the government it should call a new election to end the country's political crisis.

AP - The pirate 'mother ship' sunk last week by the Indian navy was actually a Thai fishing trawler seized hours earlier by pirates, a maritime agency said Wednesday. The Indian navy defended its actions, saying it fired in self-defense.

AP - President Hamid Karzai criticized the U.S. and other foreign countries for creating a 'parallel government' in the countryside during a blunt overview of Afghanistan's problems before a U.N. Security Council delegation.

AP - With just two more days together, the astronauts of the linked space shuttle and space station busily collected as many recycled urine samples as possible from a machine that they coaxed into operation.

AP - Thousands of bleary-eyed tourists mingled with yellow-clad protesters who brought flights to a halt at Bangkok's international airport Wednesday, dealing a major blow to Thailand's tourism industry during its peak season.

Reuters - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with Europe considering a more than 130 billion euro boost and China announcing its biggest interest rate cut in a decade.

Reuters - Senior members of Iraq's ruling Shi'ite-led coalition on Wednesday said they had no problem with Sunni demands for a referendum in 2009 on a security pact with Washington.

Reuters - Thailand's army chief told the elected government on Wednesday to step down and call a snap election as a way out of a deepening political crisis.

Reuters - U.S.-led coalition forces killed 25 militants in a series of raids against Taliban commanders in Afghanistan, the U.S. military said on Wednesday.

AFP - Thailand's powerful army chief Wednesday told anti-government protesters they must leave several key sites that they are occupying, including Bangkok's international airport.

AFP - The EU was to call on members to spend their way out of recession on Wednesday as China cut its interest rates and the United States injected another 800 billion dollars into the economy.

LONDON (Reuters) - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with the European Union considering a 200 billion euro boost and China announcing its biggest interest rate cut in 11 years.

LONDON (Reuters) - OPEC ministers will debate a deep cut in oil supply when they meet this weekend in Cairo for urgent talks aimed at arresting a downward price spiral that sucked oil below $50 a barrel.

BAGHDAD (Reuters) - Iraq's parliament will likely vote in favor of a pact that sets a date for U.S. military forces to withdraw but will make it dependent on a public referendum, lawmakers said on Wednesday.

BANGKOK (Reuters) - Thailand's army chief told the government on Wednesday to step down and call a snap election as a way out of a deepening political crisis, but the government and protesters rejected the call.

AP - Despite plummeting gas prices and unusual last-minute holiday deals on airplane tickets, more people are expected to stick close to home this Thanksgiving.

AP - A spate of reports is due Wednesday, including figures on personal spending, orders to factories for big-ticket durable goods, new home sales and weekly applications for unemployment benefits. Investors will be looking to the reports for further insight on the health of the economy.

AP - President-elect Barack Obama is naming a board of economic experts outside government to advise him on ways to create jobs and bring stability to the ailing financial system.

AP - Thailand's army commander urged protesters Wednesday to leave Bangkok airport and called for elections to end the country's political crisis after a day of chaos in which thousands of travelers were stranded.

AP - Iran's nuclear chief says Iran now has more than 5,000 centrifuges operating at its uranium enrichment plant.

AP - Iraq's ruling Shiite and Kurdish blocs made a key concession Wednesday to Sunni Arab legislators in hopes of securing a big majority in a crucial parliamentary vote later in the day on a U.S.-Iraqi security pact, officials said.

AP - Browns quarterback Brady Quinn will miss the remainder of Cleveland's season with a broken right index finger he made worse by playing on Sunday, according to several reports.

Reuters - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with the European Union considering a 200 billion euro boost and China announcing its biggest interest rate cut in 11 years.

Reuters - OPEC ministers will debate a deep cut in oil supply when they meet this weekend in Cairo for urgent talks aimed at arresting a downward price spiral that sucked oil below $50 a barrel.

Reuters - Iraq's parliament was likely to approve on Wednesday a pact that sets a date for U.S. military forces to withdraw, but could make the agreement dependent on a public referendum next year, lawmakers said.

Reuters - Thailand's army chief told the government on Wednesday to step down and call a snap election as a way out of a deepening political crisis, but the government and protesters rejected the call.

LONDON (Reuters) - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with the European Union asked to provide a 200 billion euro boost and China announcing its biggest interest rate cut in 11 years.

CHICAGO (Reuters) - Barack Obama will name former Federal Reserve Chairman Paul Volcker to chair an advisory panel to advise the U.S. president-elect on stabilizing financial markets and maneuvering the country out of a recession, sources familiar with the matter said on Wednesday.

BAGHDAD (Reuters) - Iraq's parliament was likely to approve on Wednesday a pact that sets a date for U.S. military forces to withdraw, but could make the agreement dependent on a public referendum next year, lawmakers said.

BRUSSELS (Reuters) - China has called off a summit with the European Union scheduled for next Monday because of plans for Tibet's exiled spiritual leader, the Dalai Lama, to visit European leaders and institutions, the EU said.

LONDON (Reuters) - Oil edged toward $52 a barrel on Wednesday on China's interest rate cut and ahead of weekly U.S. oil data, which is forecast to show a draw down in distillate stocks, including heating oil.

AP - The government released a trio of reports Wednesday that paint a bleak picture of the nation's economy: Jobless claims remain at recessionary levels, while Americans cut back on their spending by the largest amount since the 2001 terrorist attacks and orders to U.S. factories plummeted.

AP - Former Federal Reserve chairman Paul Volcker will head a new White House panel to help President-elect Barack Obama create jobs and bring stability to the ailing financial system.

AP - Intense dealmaking among Iraq's political factions on Wednesday delayed by one day a parliamentary vote on a security pact that would allow American forces to stay in the country through 2011 under tight Iraqi supervision.

AP - Puzzled Japanese zookeepers have cleared up a mystery over a lack of chemistry between a couple of polar bears as both turn out to be female, a Japanese zoo said Wednesday.

Reuters - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with the European Union asked to provide a 200 billion euro boost and China announcing its biggest interest rate cut in 11 years.

Reuters - Barack Obama will name former Federal Reserve Chairman Paul Volcker to chair an advisory panel to advise the U.S. president-elect on stabilizing financial markets and maneuvering the country out of a recession, sources familiar with the matter said on Wednesday.

Reuters - Thailand's army chief told the government on Wednesday to step down and call a snap election as a way out of a political crisis threatening to spiral out of control after a gang shot dead an anti-government activist.

Reuters - China has called off a summit with the European Union scheduled for next Monday because of plans for Tibet's exiled spiritual leader, the Dalai Lama, to visit European leaders and institutions, the EU said.

AFP - Thailand's army chief stepped in Wednesday to end a spiralling political crisis, telling the prime minister to call new elections and ordering protesters to end their siege of Bangkok's main airport.

WASHINGTON (Reuters) - Consumers cut spending during October at the steepest rate in more than seven years and orders for costly manufactured goods plummeted, according to Commerce Department reports on Wednesday that implied a steep recessionary downturn was at hand.

BANGKOK (Reuters) - Thai Prime Minister Somchai Wongsawat rejected his army chief's call on Wednesday to quit in the face of anti-government protests which threaten to spiral out of control across the country.

LONDON/NEW YORK (Reuters) - China slashed interest rates by the biggest margin in 11 years on Wednesday and the European Union plotted a 200 billion euro stimulus plan as central banks and governments acted to jolt the world out of its deepening slowdown.

BAGHDAD (Reuters) - Iraq's parliament on Wednesday delayed a vote on a landmark pact setting a deadline for U.S. troops to leave, after agreeing to Sunni Arab demands to make it dependent on a referendum but rejecting other conditions.

BRUSSELS (Reuters) - China, angry at plans for Tibet's spiritual leader the Dalai Lama to visit Europe, has called off a summit with the European Union next Monday which may have forged a joint response to the global economic crisis.

LONDON (Reuters) - Oil rose to near $53 a barrel on Wednesday on China's interest rate cut and ahead of weekly U.S. oil data, which is forecast to show a draw down in distillate stocks, including heating oil.

AP - President-elect Barack Obama pledged on Wednesday to have an economic plan ready for action on the nation's financial crisis on his first day in office. 'Help is on the way,' he declared.

AP - The government released a quartet of reports Wednesday that paint a bleak picture of the nation's economy: Jobless claims remain at recessionary levels, Americans cut back on their spending by the largest amount since the 2001 terrorist attacks, orders to U.S. factories plummeted and homes sales fell to the lowest level in nearly 18 years.

AP - Travelers breezed through airport terminals Wednesday and drivers cruised open roads, the effects of a sour economy blamed for keeping people closer to home at the start of the annual Thanksgiving rush.

AP - Thailand's prime minister has gone on television to reject his army chief's call that he step down to end the country's political crisis.

AP - Browns coach Romeo Crennel says quarterback Brady Quinn will miss Cleveland's final five games with a broken right index finger.

Reuters - Consumers cut spending during October at the steepest rate in more than seven years and orders for costly manufactured goods plummeted, according to Commerce Department reports on Wednesday that implied a steep recessionary downturn was at hand.

Reuters - Thai Prime Minister Somchai Wongsawat rejected his army chief's call on Wednesday to quit in the face of anti-government protests which threaten to spiral out of control across the country.

Reuters - China slashed interest rates by the biggest margin in 11 years on Wednesday and the European Union plotted a 200 billion euro stimulus plan as central banks and governments acted to jolt the world out of its deepening slowdown.

Reuters - Iraq's parliament on Wednesday delayed a vote on a landmark pact setting a deadline for U.S. troops to leave, after agreeing to Sunni Arab demands to make it dependent on a referendum but rejecting other conditions.

Reuters - China, angry at plans for Tibet's spiritual leader the Dalai Lama to visit Europe, has called off a summit with the European Union next Monday which may have forged a joint response to the global economic crisis.

NEW DELHI (Reuters) - Fatal shootings in India's financial hub of Mumbai appear to be a terrorist attack, a senior police office said on Wednesday.

CHICAGO (Reuters) - U.S. President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker as chair of a new panel to advise him on stabilizing financial markets and averting a painful recession.

NEW YORK (Reuters) - China slashed interest rates by the biggest margin in 11 years on Wednesday and the European Union plotted a 200 billion euro stimulus plan as central banks and governments acted to jolt the world out of its deepening slowdown.

WASHINGTON (Reuters) - Consumers cut spending during October at the steepest rate in more than seven years and orders for costly manufactured goods plummeted, according to Commerce Department reports on Wednesday that implied a steep recessionary downturn was at hand.

BANGKOK (Reuters) - Thai Prime Minister Somchai Wongsawat rejected his army chief's call on Wednesday to quit in the face of anti-government protests which threaten to spiral out of control across the country.

NEW YORK (Reuters) - U.S. authorities have warned of a possible al Qaeda threat to transit systems in and around New York City, a Homeland Security official said on Wednesday.

TEHRAN (Reuters) - Iran is now running 5,000 uranium enrichment centrifuges, a senior official said on Wednesday, signaling an expansion of work the West fears is aimed at making nuclear weapons.

KABUL (Reuters) - U.S.-led coalition troops and Afghan security forces killed 32 militants in a series of raids against Taliban commanders in Afghanistan, the U.S. military said Wednesday.

NEW YORK (Reuters) - Oil rose 5 percent to above $53 on Wednesday as the U.S. stock markets rallied and giant energy consumer China cut interest rates.

AP - Travelers breezed through airport terminals Wednesday and drivers cruised open roads, the effects of a sour economy blamed for keeping people closer to home at the start of the annual Thanksgiving rush.

AP - The U.S. attorney's office says a verdict is to be read in the MySpace cyber-bullying trial of a Missouri mother.

AP - With a smile and some nostalgic words, President George W. Bush spared the national Thanksgiving turkey on Wednesday, honoring a tradition that dates to Harry Truman's presidency. The 45-pound bird, named 'Pumpkin' through an online vote, behaved quietly while the president presided over a Rose Garden ceremony.

AP - Browns quarterback Brady Quinn doesn't regret playing with a broken right finger that will sideline him for the rest of this season and may require surgery.

Reuters - At least ten people were killed after shootings by unidentified assailants in Mumbai in what police said was a terror attack, local television stations said.

Reuters - China slashed interest rates by the biggest margin in 11 years on Wednesday and the European Union plotted a 200 billion euro stimulus plan as central banks and governments acted to jolt the world out of its deepening slowdown.

Reuters - Consumers cut spending during October at the steepest rate in more than seven years and orders for costly manufactured goods plummeted, according to Commerce Department reports on Wednesday that implied a steep recessionary downturn was at hand.

Reuters - Thai Prime Minister Somchai Wongsawat rejected his army chief's call on Wednesday to quit in the face of anti-government protests which threaten to spiral out of control across the country.

Reuters - U.S. authorities have warned of a possible al Qaeda threat to transit systems in and around New York City, a Homeland Security official said on Wednesday.

Reuters - Iran is now running 5,000 uranium enrichment centrifuges, a senior official said on Wednesday, signaling an expansion of work the West fears is aimed at making nuclear weapons.

AFP - Thai premier Somchai Wongsawat on Wednesday rejected a call by the army chief to hold new elections, in a major escalation of tensions with protesters who have seized the country's main airport.

MUMBAI (Reuters) - At least 80 people were killed in attacks apparently aimed at tourists in India's financial capital Mumbai on Wednesday night and television channels said Westerners were being held hostage at two five-star hotels.

WASHINGTON (Reuters) - The U.S. Army scientist who was wrongly targeted in the FBI's anthrax investigation attracted suspicion because of his knowledge of the deadly toxin, according to recently released court records.

BANGKOK (Reuters) - Pressure built on Thailand's military to intervene in a political crisis threatening to descend into widespread civil unrest on Thursday after Prime Minister Somchai Wongsawat rejected calls to quit.

NEW YORK (Reuters) - Oil rose 7 percent to above $54 on Wednesday as the U.S. stock markets rallied and giant energy consumer China cut interest rates.

AP - Teams of heavily armed gunmen stormed luxury hotels, a popular tourist attraction and a crowded train station in at least seven attacks in India's financial capital, killing at least 78 people and wounding at least 200, officials said Thursday. The gunmen were specifically targeting Britons and Americans and a top police official said the gunmen are holding hostages at two luxury hotels, the Taj Mahal and Oberoi hotels.

AP - President-elect Barack Obama sought to reassure the nation and nervous holiday shoppers about the ailing economy Wednesday as beleaguered stores braced for their most important month of the year.

AP - Iraq delayed until Thursday a crucial vote in parliament on a pact that would keep U.S. troops in Iraq through 2011 after lawmakers, many of them Sunni Arabs, demanded concessions from the Shiite-led government in return for supporting the deal.

AP - A Missouri mother on trial in a landmark cyberbullying case was convicted Wednesday of three minor offenses instead of the main conspiracy charge in a cruel Internet hoax that apparently drove a 13-year-old girl to suicide.

AP - Each night after watching Brian Williams deliver the 'NBC Nightly News,' an English teacher in Ohio is moved to go to her computer and write — about what Williams wore around his neck. The Brian Williams Tie Report Archive isn't the weirdest thing you'll find online, but it's up there. It's a snarky, occasionally appreciative and flat-out funny read that will have you looking at Williams as never before.

Reuters - At least 80 people were killed in a series of attacks apparently aimed at tourists in India's financial capital Mumbai on Wednesday night, with television channels saying Westerners were being held hostage at two five-star hotels.

Reuters - The U.S. Army scientist who was wrongly targeted in the FBI's anthrax investigation attracted suspicion because of his knowledge of the deadly toxin, according to recently released court records.

Reuters - Pressure built on Thailand's military to intervene in a political crisis threatening to descend into widespread civil unrest on Thursday after Prime Minister Somchai Wongsawat rejected calls to quit.

AFP - Nearly 60 people were killed in a series of attacks in the Indian city of Mumbai late Wednesday, with five-star hotels among the targets of gunmen armed with powerful assault rifles and grenades.

MUMBAI (Reuters) - Gunmen killed at least 80 people in a series of attacks in India's financial capital Mumbai and troops began moving into one of two five-star hotels on Thursday where Western hostages were being held, local television said.

CHICAGO (Reuters) - U.S. President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker to chair a new panel to advise him how to stabilize financial markets and navigate a potentially painful recession.

NEW YORK (Reuters) - China slashed interest rates by the biggest margin in 11 years on Wednesday and the European Union plotted a 200 billion euro stimulus plan as central banks and governments acted to jolt the world out of its deepening slowdown.

NEW YORK (Reuters) - Stocks climbed on Wednesday as investors snapped up tech stocks trading near their cheapest levels in five years, and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn.

AP - Teams of heavily armed gunmen stormed luxury hotels, a popular restaurant and a crowded train station in coordinated attacks across India's financial capital Wednesday night, killing at least 78 people and taking Westerners hostage, police said.

AP - Police bolstered security in subways and trains Wednesday after the government warned that al-Qaida suicide bombers were contemplating an attack on New York's mass-transit systems during the holiday season. An internal memo obtained by The Associated Press says the FBI has received a 'plausible but unsubstantiated' report that al-Qaida terrorists in late September may have discussed attacking the subway system.

AP - Authorities have recovered a stolen 18-carat gold bookmark that reportedly was given to Adolf Hitler by his longtime mistress, Eva Braun. Christian Popescu, a Romanian national, was arrested Tuesday outside a Bellevue Starbucks after trying to sell the bookmark to an undercover agent for $100,000, according to papers filed in U.S. District Court.

AP - Someone performed Internet searches for 'neck breaking' and 'household weapons' on the home computer of a Florida mother charged with killing her missing 3-year-old daughter, according to court documents released Wednesday.

AP - Police said a thief used a Vaseline-like lubricant to swipe an expensive ring off an elderly woman's hand in broad daylight. Authorities said two men bumped 80-year-old Helen Artim's car, then asked her to open her trunk to check for damage.

AP - Brady Quinn's opportunity came and went in a hurry. He waited his whole life to make the NFL and then 1 1/2 years more for his first start for the Cleveland Browns.

Reuters - Gunmen killed at least 80 people in a series of attacks in India's financial capital Mumbai and troops began moving into one of two five-star hotels on Thursday where Western hostages were being held, local television said.

Reuters - China slashed interest rates by the biggest margin in 11 years on Wednesday and the European Union plotted a 200 billion euro stimulus plan as central banks and governments acted to jolt the world out of its deepening slowdown.

Reuters - Stocks climbed on Wednesday as investors snapped up tech stocks trading near their cheapest levels in five years, and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn.

AFP - Nearly 80 people were killed in a series of attacks apparently targeting foreigners in the Indian city of Mumbai late Wednesday, as heavily armed Islamist militants hit two luxury hotels.

AFP - Thai anti-government protesters have blockaded and shut down a second Bangkok airport, an official said Thursday, just over a day after they forced the closure of the main international airport.

MUMBAI (Reuters) - Gunmen killed at least 80 people in a series of attacks in India's financial capital Mumbai and troops began moving into two five-star hotels on Thursday where Western hostages were being held, local television said.

CHICAGO (Reuters) - U.S. President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker to chair a new panel to advise him how to stabilize financial markets and navigate a potentially painful recession.

NEW YORK (Reuters) - Stocks climbed on Wednesday as investors snapped up tech stocks trading near their cheapest levels in five years, and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn.

BANGKOK (Reuters) - Pressure built on Thailand's military to intervene in a political crisis threatening to descend into widespread civil unrest on Thursday after Prime Minister Somchai Wongsawat rejected calls to quit.

NEW YORK (Reuters) - U.S. authorities have warned of a possible al Qaeda threat to transit systems in and around New York City, a Homeland Security official said on Wednesday.

AP - Teams of gunmen stormed luxury hotels, a popular restaurant, hospitals and a crowded train station in coordinated attacks across India's financial capital Wednesday night, killing at least 78 people and taking Westerners hostage, police said. A group of suspected Muslim militants claimed responsibility.

AP - President-elect Barack Obama and his wife, Michelle, said their young daughters will still have to do chores in the White House and won't get out of doing homework just because they're the president's children. In an interview with Barbara Walters, the Obamas said Sasha, 7, and Malia, 10, will have lives as normal as possible. That means helping out around the house.

Reuters - Gunmen killed at least 80 people in a series of attacks in India's commercial hub Mumbai and troops began moving into two luxury hotels on Thursday where foreign hostages were being held, local television said.

Reuters - U.S. President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker to chair a new panel to advise him how to stabilize financial markets and navigate a potentially painful recession.

Reuters - Stocks climbed on Wednesday as investors snapped up tech stocks trading near their cheapest levels in five years, and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn.

Reuters - Pressure built on Thailand's military to intervene in a political crisis threatening to descend into widespread civil unrest on Thursday after Prime Minister Somchai Wongsawat rejected calls to quit.

Reuters - U.S. authorities have warned of a possible al Qaeda threat to transit systems in and around New York City, a Homeland Security official said on Wednesday.

AFP - Thai anti-government protesters have blockaded and shut down a second Bangkok airport, officials said Thursday, just over a day after they forced the closure of the country's main international hub.

MUMBAI (Reuters) - At least 86 people were killed in attacks by gunmen in India's commercial hub Mumbai and security forces began moving on two luxury hotels where foreign hostages were being held, officials and witnesses said on Thursday.

AP - Teams of gunmen stormed luxury hotels, a popular restaurant, hospitals and a crowded train station in coordinated attacks across India's financial capital Wednesday night, killing at least 82 people and taking Westerners hostage, police said. A group of suspected Muslim militants claimed responsibility.

AP - Thai authorities have closed a second airport in the capital after anti-government protesters stormed the terminal.

AP - Disclosure that laboratory tests have detected traces of contamination in several major brands of infant formula generated concern and confusion Wednesday, with a national consumer's group and the Illinois attorney general demanding a Food and Drug Administration recall and the federal agency saying it had released inaccurate information on what chemicals were found in which top selling products.

AFP - Nearly 80 people have been killed in a series of coordinated attacks across India's commercial capital Mumbai, as gunmen armed with assault rifles and grenades hit two luxury hotels and took foreign guests hostage.

AFP - The United States and Britain have led global condemnation of the attacks in India's financial capital Mumbai, where blasts and shootings targeted at foreigners left nearly 80 people dead.

MUMBAI (Reuters) - Gunfire rang out as commandos and police laid siege to gunmen holding foreigners hostage in two of India's plushest hotels in the country's commercial capital on Thursday, after attacks that killed at least 86 people dead.

KABUL (Reuters) - A suicide car bomber struck a convoy of foreign troops near the U.S. embassy in Kabul on Thursday, witnesses said.

BANGKOK (Reuters) - Pressure built on Thailand's military to intervene in a political crisis threatening to descend into widespread civil unrest on Thursday after Prime Minister Somchai Wongsawat rejected calls to quit.

SINGAPORE (Reuters) - Oil fell toward $53 on Thursday, as investors fretted over falling oil demand after another set of bearish U.S. stocks and oil demand data, erasing some of the 7 percent gains on an equities rally a day earlier.

AP - Teams of gunmen stormed luxury hotels, a popular restaurant, hospitals and a crowded train station in coordinated attacks across India's financial capital, killing at least 101 people, taking Westerners hostage and leaving parts of the city under siege Thursday, police said. A group of suspected Muslim militants claimed responsibility.

AP - President-elect Barack Obama and his wife, Michelle, said their young daughters will still have to do chores in the White House, including picking up after their new puppy.

AP - Thai authorities shut down Bangkok's second airport Thursday after it was overrun by anti-government protesters, completely cutting off the capital from air traffic as the prime minister rejected their demands to resign, deepening the country's crisis.

Reuters - A suicide car bomber struck a convoy of foreign troops near the U.S. embassy in Kabul on Thursday, witnesses said.

Reuters - Pressure built on Thailand's military to intervene in a political crisis threatening to descend into widespread civil unrest on Thursday after Prime Minister Somchai Wongsawat rejected calls to quit.

AFP - Up to 100 people have been killed in a series of coordinated attacks across India's commercial capital Mumbai, as gunmen armed with assault rifles and grenades hit two luxury hotels and took foreign guests hostage.