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November 22, 2008
Obama says drafting bold economic stimulus
CHICAGO (Reuters) - U.S. President-elect Barack Obama said on Saturday that he was crafting an aggressive, two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.
Read More... (Sat, 22 Nov 2008 06:37:12 -0500)
Citigroup talking to U.S. government as shares dive: source
NEW YORK (Reuters) - Citigroup Inc has begun talks with the U.S. government as its plummeting share price raises doubts about the bank's ability to survive, a person familiar with the matter said.
Read More... (Fri, 21 Nov 2008 22:37:22 -0500)
GM cuts output, jets as U.S. demands turnaround plans
DETROIT/WASHINGTON (Reuters) - Detroit automakers began work on turnaround plans demanded by Congress in return for $25 billion in aid as General Motors Corp said it would cut production more and give up two of its controversial corporate jets.
Read More... (Fri, 21 Nov 2008 22:50:37 -0500)
General Motors board weighs bankruptcy option: report
WASHINGTON (Reuters) - The board of directors of embattled U.S. automaker General Motors Corp is considering "all options" including bankruptcy, according to a report on the Wall Street Journal's website late on Friday.
Read More... (Sat, 22 Nov 2008 00:02:16 -0500)
Wall Street stages late rally on Geithner news
NEW YORK (Reuters) - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action.
Read More... (Fri, 21 Nov 2008 21:15:21 -0500)
Soros says U.S. needs billions more in aid measures
BERLIN (Reuters) - The U.S. economy needs additional support measures of between $300 billion and $600 billion to help it withstand the financial crisis, U.S. billionaire investor George Soros was quoted as saying by a German weekly.
Read More... (Sat, 22 Nov 2008 05:55:14 -0500)
Annan, Carter barred from Zimbabwe
JOHANNESBURG (Reuters) - Zimbabwe has barred former U.N. secretary general Kofi Annan, former U.S. President Jimmy Carter and other prominent figures from visiting the country to assess the humanitarian crisis, the group said on Saturday.
Read More... (Sat, 22 Nov 2008 04:21:43 -0500)
U.S. strike in Pakistan kills wanted British militant
PESHAWAR, Pakistan (Reuters) - Rashid Rauf, a British militant with al Qaeda links, was killed along with an Egyptian by a suspected U.S. missile strike in northwest Pakistan on Saturday, Pakistani television channels and intelligence officers said.
Read More... (Sat, 22 Nov 2008 05:49:16 -0500)
U.S. eyes "surge" of over 20,000 for Afghanistan
CORNWALLIS, Nova Scotia (Reuters) - The Pentagon is considering a plan to send more than 20,000 troops to Afghanistan over the next 12 to 18 months to help safeguard elections and quell rising Taliban violence, officials said on Friday.
Read More... (Sat, 22 Nov 2008 02:50:04 -0500)
U.S. Bancorp acquires deposits of failed Downey, PFF
WASHINGTON (Reuters) - U.S. banking regulators seized California banks Downey Savings and Loan and PFF Bank & Trust late Friday as the housing crisis claimed two more victims from the financial crisis.
Read More... (Fri, 21 Nov 2008 23:43:38 -0500)