Friday, December 26, 2008
Markets Friday, 12/26/2008
| Dow : 8515.55 up 47.07 | S & P : 872.80 up 4.65 |
|
| NASDAQ: 1530.24 up 5.34 | Bond (10Y): 2.13%, 114.31 |
MARKETS:
Wall Street ends higher
Stocks advance as investors respond to preliminary holiday sales figures.
U.S. stocks end higher with holiday sales in play
U.S. stocks end higher with holiday sales in play
U.S. stocks move mostly higher, led by gains in energy shares as crude
oil prices advance, while retailers are in focus as post-Christmas
sales kick off in earnest.
EARLY SIGNS OF GLOOM FOR RETAILERS, BUT E-TAILERS MAY SHINE
Aggressive price discounting by U.S. retailers are apparently to no
avail, with a new survey showing sinking sales across several
categories as consumers curtailed their holiday shopping this year.
GM SHARES RALLY AFTER LENDING UNIT GETS BANK STATUS
General Motors shares jump after lending unit GMAC receives approval
to become a bank holding company, opening the door to a much-needed
pool of federal funds.
FUTURES MOVERS: OIL RISES FOR FIRST DAY IN FOUR, GAINING 6.7%
Crude-oil futures rise for the first session in four as traders buy the
contracts on the heels of a 33% slump this month.
U.S. stock gauges close low-volume session with gains; oil jumps 6.7% to end losing streak
BULLETIN: U.S. stock gauges close low-volume session with gains; oil
jumps 6.7% to end losing streak
[4:04:17 PM EDT]
Stocks finish higher in quiet post-Christmas trading. Dow up 42 points at the close, Nasdaq rises 0.3%, S&P gains 0.8%.
Stocks finish higher in quiet post-Christmas trading. Dow up 42 points
at the close, Nasdaq rises 0.3%, S&P gains 0.8%.
U.S. stocks mostly rise with holiday sales in play
U.S. stocks mostly rise with holiday sales in play
U.S. stocks opened higher on Friday, led by gains in energy shares as
crude oilprices advanced, while retailers were in focus as
post-Christmas sales kick off in earnest.
AMAZON SAYS 2008 HOLIDAY SEASON IS ITS 'BEST EVER'
Amazon says the 2008 holiday season "finished as its best ever," in
spite of grim results across much of the overall retail sector.
JAPAN NOVEMBER INDUSTRIAL OUTPUT FALLS 'OFF THE CLIFF'
Japan's industrial output tumbles at a record pace
in November, stoking fears the country's recession may stretch longer
and be more painful than anticipated.
ASIA MARKETS: TOKYO EXTENDS GAINS ON ASAHI BREWERIES, EXPORTERS
Asian markets mostly advance thin holiday trading,
with Japanese shares rising for a second session as Asahi Breweries
climb on a report the brewer was likely to beat its profit forecast,
while exporters such
as Toyota Motor Corp. extend gains as investors snap them up before
the end of the year.
DIVORCE RATES DROP AS COUPLES STAY TOGETHER DUE TO TIGHT FINANCES
The recession and economic turmoil is creating a new class of casualties:
Married couples who can't afford to get divorced. In these tough times
many people are finding it's cheaper to stay together, even when they
can't stand each other.
GM shares up nearly 20% as financing unit GMAC secures bank status
GM shares up nearly 20% as financing unit GMAC secures bank status
| 10:34:24 AM EDT
Energy: Oil rises first day in four after falling 33% in month
Crude-oil futures rise for the first session in four as traders buy
the contracts on the heels of a 33% slump this month.
Markets open higher even as a report indicates dismal holiday sales for retailers.
Markets open higher even as a report indicates dismal holiday sales
for retailers.
Wednesday, December 24, 2008
International
TOP STORIES as of 0900 HKT -- 25 December, 2008
COUP LEADER NAMES HIMSELF GUINEA PRESIDENT
A military junta that toppled the Guinean government announced
its new leader Wednesday. Capt. Moussa Dadis Camara declared
himself president of the National Council for Democracy, which
he said was an interim body to oversee the country's return to
democracy.
SAUDI WOMEN'S GROUP SLAMS GIRL'S MARRIAGE
A group fighting for women's rights in Saudi Arabia condemned a
judge Wednesday for refusing to annul the marriage of an
8-year-old girl to a 47-year-old man.
WOMAN BURIED IN SNOW FOR 3 DAYS FOUND ALIVE
No one expected to find Donna Molnar alive.
JUDGE ORDERS RELEASE OF ZIMBABWE ACTIVISTS
A human rights activist who was abducted in Zimbabwe three weeks
ago is to appear in court Wednesday, accused of trying to
overthrow the government of President Robert Mugabe, the
state-run Herald newspaper reported.
EIGHT BODIES FOUND IN GARBAGE BAGS IN MEXICO
The record number of killings in Mexico continues to climb, with
the discovery of eight bodies stuffed in black garbage bags in
the southeastern state of Chiapas, near the Guatemalan border,
authorities said.
BUSH ORDERS PARDON RE-EXAMINED
President George W. Bush on Wednesday ordered one of 19
presidential pardons granted earlier in the week to be
re-examined before making a final decision.
AHMADINEJAD: JESUS WOULD SUPPORT OPPRESSED
Iranian President Mahmoud Ahmadinejad will deliver a Christmas
message on a British TV network.
HOSTAGES TO SPEND CHRISTMAS WITH PIRATES
More than 260 people will spend Christmas Day held hostage at
sea by armed pirates.
BUSINESS
POLL: MOST BACK OBAMA'S $800B STIMULUS PLAN
A new national poll suggests most Americans favor an economic
stimulus package even if it comes with an $800 billion price
tag, although that support doesn't indicate the public wants to
see a new era of big government.
MADOFF INVESTOR IN APPARENT SUICIDE
Thierry de la Villehuchet, a hedge fund adviser and investor
whose firm said he lost $1.5 billion investing with Wall Street
adviser Bernard Madoff, was found dead in his office in an
apparent suicide, police said.
JAPAN'S CABINET APPROVES RECORD BUDGET
Japanese Prime Minister Taro Aso's Cabinet on Wednesday approved
a record budget, including an emergency economic stimulus
package, for the 2009 fiscal year.
Markets Wed, 24 Dec 2008
| Dow : 8468.48 up 48.99 | S & P : 868.15 up 4.99 |
|
| NASDAQ: 1524.90 up 3.36 | Bond (10Y): 2.18%, 113.84 |
MARKETS:
Stocks end higher
Major indexes rise in quiet trading as investors mull the latest
economic data. Markets to close early.
Obama has the most work cut out for him in one area: jobs
Obama has the most work cut out for him in one area: jobs
As the recession rolls on, keeping workers at work may be
President-elect Barack Obama's toughest job.
MARKET SNAPSHOT: U.S. STOCKS MAKE MODEST GAINS IN LIGHT PRE-HOLIDAY TRADING
Stocks close slightly higher in light, pre-holiday trading after U.S.
data on consumer spending and durable goods reported for November come
in better than expected.
FUNDWATCH: CHOOSE CORPORATE DEBT OVER STOCKS, SAY MANAGERS
Falling stock prices this year have left many investors' portfolio
balances out of whack. But some managers argue against the need to
rebalance holdings.
MORTGAGES: RATES ON 30-YEAR MORTGAGES AT LOWEST SINCE AT LEAST 1971
Fixed-rate mortgage rates fell again this week, with the 30-year
fixed-rate mortgage setting another record low, at least since Freddie
Mac began doing its weekly survey in the early 1970s.
DIVORCE RATES DROP AS COUPLES STAY TOGETHER DUE TO TIGHT FINANCES
The recession and economic turmoil is creating a new class of
casualties: Married couples who can't afford to get divorced. In these
tough times many people are finding it's cheaper to stay together,
even when they can't stand each other.
Fed grants GMAC, finance arm of General Motors, status as bank holding company - opening door for it to get federal money.
Fed grants GMAC, finance arm of General Motors, status as bank holding
company - opening door for it to get federal money.
Oil plummets 9.3% - among largest drops ever - to $35.35 a barrel as worsening economy signals contraction of energy demand.
Oil plummets 9.3% - among largest drops ever - to $35.35 a barrel as
worsening economy signals contraction of energy demand.
Stocks end slightly higher despite grim economic news, as investors prepare for a day-long holiday break,
Stocks end slightly higher despite grim economic news, as investors
prepare for a day-long holiday break,
Rates on 30-year mortgages at lowest since at least 1971
Rates on 30-year mortgages at lowest since at least 1971
Fixed-rate mortgage rates fell again this week, with the 30-year
fixed-rate mortgage setting another record low, at least since Freddie
Mac began doing its weekly survey in the early 1970s.
MARKET SNAPSHOT: U.S. STOCKS RISE SLIGHTLY IN LIGHT PRE-HOLIDAY TRADE
Stocks open higher in light pre-holiday trading, gaining ground as
U.S. data on consumer spending and durable goods reported for November
come in better than expected.
ECONOMIC REPORT: U.S. DURABLE-GOODS ORDERS OFF 1% LAST MONTH ON TRANSPORTATION
Orders for U.S.-made durable goods were not as weak as forecast in
November, Commerce Department data indicate.
ECONOMIC REPORT: UNEMPLOYMENT LINES LONGEST IN 26 YEARS
The U.S. labor market continues to worsen, with unemployment lines
stretching to the longest in 26 years last week, the Labor Department
reports.
EXPORTERS MEET TO CREATE OPEC-STYLE GAS CARTEL: REPORT
Energy ministers from some of the world's biggest exporters of natural
gas have agreed to create a producers' group that will coordinate
forecasts, investments and relations to make the gas market less
unpredictable, according media
reports on Wednesday.
Benchmark 30-year mortgage rate at lowest level on record
Benchmark 30-year mortgage rate at lowest level on record
12/24/2008 10:13:40 AM EDT
Energy: Oil stocks fall ahead of inventory data
Investors find little reason to bid up equities from the petroleum and
natural gas sectors, as oil futures move below $37 a barrel ahead of
weekly inventory data.
Stocks rise at the start of a shortened Christmas Eve session as a dismal year on Wall Street stumbles to a close.
Stocks rise at the start of a shortened Christmas Eve session as a
dismal year on Wall Street stumbles to a close.
February crude down 6% to $36.63 a barrel in electronic trading
February crude down 6% to $36.63 a barrel in electronic trading
12/24/2008 9:04:02 AM EDT
Energy: Exporters meet to create OPEC-style gas cartel: report
Energy ministers from some of the world's biggest exporters of natural
gas have agreed to create a producers' group that will coordinate
forecasts, investments and relations to make the gas market less
unpredictable, according media reports on Wednesday.
Week-to-week mortgage applications jump 48% on lower rates, MBA data show
Week-to-week mortgage applications jump 48% on lower rates, MBA data show
12/24/2008 7:00:47 AM EDT
U.S. durable-goods orders fall 1%; transportation category is key factor
U.S. durable-goods orders fall 1%; transportation category is key factor
12/24/2008 8:32:13 AM EDT
Government: Initial jobless claims spiked 30,000 to 586,000 last week. Personal spending fell for 5th straight month in November.
Government: Initial jobless claims spiked 30,000 to 586,000 last week.
Personal spending fell for 5th straight month in November.
Tuesday, December 23, 2008
International
TOP STORIES as of 0900 HKT -- 24 December, 2008
FEARS OF TUMULT AFTER GUINEA PRESIDENT DIES
The African country of Guinea, reeling after the death of its
leader, is staring at the prospect of political instability. A
journalist in Conakry said the Guinean military had staged an
apparent coup, and were holding talks to determine who will
succeed Lansana Conte, who ruled the country for nearly 25
years.
NASA CAPTURES STUNNING IMAGES OF EARTH
NASA's Earth Observatory has captured some stunning images of
the Earth in 2008 including Hurricane Bertha, a huge section of
the Wilkins Ice Shelf in Antarctica breaking away and cloud
being swept across the Caspian Sea (pictured above).
UGABE: U.S. AND WEST ARE 'STUPID AND FOOLISH'
Zimbabwe President Robert Mugabe described the U.S. government
and Western nations as "quite stupid and foolish" Tuesday for
trying to be involved in the African country's affairs.
DRIVERS TRAPPED IN FLOOD AFTER WATER PIPE BREAK
A harrowing rescue was under way Tuesday morning to save
motorists who were trapped in a fast moving flood created by a
water main break in suburban Maryland.
POPE'S MESSAGE ANGERS GAY RIGHTS ACTIVISTS
Pope Benedict XVI has reiterated the Roman Catholic Church's
opposition to homosexual behavior and warned that humanity could
destroy itself. The pope's year-end message to Church leaders
sparked anger among gay and lesbian religious groups.
IRAQ OKS CONTINUED PRESENCE OF FOREIGN TROOPS
Iraq's parliament on Tuesday approved a resolution that will
allow non-U.S. foreign troops to remain in Iraq after a U.N.
mandate expires at the end of the year.
REPORT: OBAMA, BLAGOJEVICH PROSECUTORS TALKED
Two Democratic officials are predicting that the long-awaited
report about aides to President-elect Barack Obama alleged
contact with the office of embattled Illinois Gov. Rod
Blagojevich will largely exonerate Obama's transition team.
IRAQI SOLDIERS SEIZE APPARENTLY STOLEN RELICS
Iraqi soldiers have seized 228 apparently stolen antiquities and
arrested seven members of a gang suspected of trafficking in
such items, a security official in Basra said Tuesday.
BUSINESS
PUTIN: 'CHEAP GAS ERA' ENDING
The sharp growth of costs in the gas industry will inevitably
lead to a significant increase in global gas prices, Russian
Prime Minister Vladimir Putin said Tuesday.
CHINA SET TO GUARD AFRICAN SHIPPING ROUTE
Two Chinese destroyers and a supply ship will set sail for the
Gulf of Aden on Friday to protect Chinese merchant ships from an
increasing number of pirate attacks in the waters off the coast
of Somalia, navy officials said Tuesday.
Markets for Tuesday, 12/23/2008
| Dow : 8419.49 down 100.28 | S & P : 863.16 down 8.47 |
| NASDAQ: 1521.54 down 10.81 | Bond (10Y): 2.13%, 114.28
MARKETS:
Stocks fall, Wall St. counts days to 2009
Major indexes slump as investors weigh mixed economic data and
concerns about the auto industry.
Dow tallies fifth straight loss as autos, GDP weigh
Dow tallies fifth straight loss as autos, GDP weigh
U.S. stocks decline for a second session this week as worries
intensify that federal funds might not salvage the auto industry, and
economic reports
illustrate the economy's decline and ongoing trouble in the housing market.
DETAILS OF OBAMA'S STIMULUS STILL BEING NEGOTIATED: BIDEN
Barack Obama's transition team is still negotiating the nuts and bolts of its
economic-stimulus plan with Congress, but no deal has been reached, Vice
President-elect Joseph Biden says.
THE TECHNICAL INDICATOR: CLOSING OUT THE HISTORIC 2008 MARKET CRASH
ECONOMIC REPORT: U.S. DATA SHOW SALES OF NEW HOMES AT LOWEST LEVEL IN 17 YEARS
Sales of new homes in the U.S. decline to their lowest level in more
than 17 years during November, falling 2.9% to a seasonally adjusted
annual rate of
407,000, according to the Commerce Department.
ECONOMIC REPORT: U.S. NOV. EXISTING-HOME SALES FALL 8.6%; HOME-PRICE
DROP A RECORD
Resales of U.S. single-family homes and condos fell 8.6% in November to a
seasonally adjusted annual rate of 4.49 million, the National Association of
Realtors reported Tuesday, even as home prices fell at the fastest annual pace
on record.
Treasury's bank bailout widens - announces investments in 92 local banks totaling $4.7 billion.
Treasury's bank bailout widens - announces investments in 92 local
banks totaling $4.7 billion.
Internal inquiry finds no inappropriate talks between Obama camp and Blagojevich
Internal inquiry finds no inappropriate talks between Obama camp and Blagojevich
Dow ends down about 100 points in thin pre-holiday trading as investors hunker down waiting for end of brutal year.
Dow ends down about 100 points in thin pre-holiday trading as
investors hunker down waiting for end of brutal year.
Energy: Oil refiners walking a fine edge
Crude-oil prices were down again Tuesday, bumping along at around $39
a barrel. This should be music to ears of the nation's independent
refiners. Instead, it's a screeching discord confusing both the
refiners and investors.
Energy: Benchmarks all move higher; Transocean, Williams stand out
Oil and gas stocks stake out gains in thin pre-holiday trading,
regaining some of the ground lost in Monday's session, as all three of
the widely followed sector benchmarks move higher.
U.S. stocks see-saw between gains and loses in light trade
U.S. stocks see-saw between gains and loses in light trade
U.S. stocks tilt higher after the government reported an as-expected
drop in gross domestic product for the third quarter and as investors
pored over data on the troubled housing market.
ECONOMIC REPORT: U.S. DATA SHOW SALES OF NEW HOMES AT LOWEST LEVEL IN 17 YEARS
Sales of new homes in the U.S. decline to their lowest level in more
than 17 years during November, falling 2.9% to a seasonally adjusted
annual rate of 407,000, according to the Commerce Department.
ECONOMIC REPORT: U.S. NOV. EXISTING HOME FALL 8.6%; HOME-PRICE DROP A RECORD
Resales of U.S. single-family homes and condos fell 8.6% in November
to a seasonally adjusted annual rate of 4.49 million, the National
Association of Realtors reported Tuesday, even as home prices fell at
the fastest annual pace on record.
ECONOMIC REPORT: CONSUMER SENTIMENT IMPROVES IN DEC. AS PRICES FALL
A closely watched index of consumer attitudes
improved in December, data showed Tuesday, rebounding from
multi-decades lows as falling prices took some of the edge off job
losses.
U.S. November existing-home sales down 8.6%; new-home sales fall 2.9%
U.S. November existing-home sales down 8.6%; new-home sales fall 2.9%
10:03:27 AM EDT
Energy: Oil futures rise after 6% drop in previous session
Crude-oil futures make a rebound, trading around $40 a barrel after
having slumped nearly 6% in the previous session on demand concerns.
Other energy contracts also make early gains.
Final reading on U.S. GDP shows 0.5% contraction; inflation contained
Final reading on U.S. GDP shows 0.5% contraction; inflation contained
8:32:49 AM EDT
Monday, December 22, 2008
Markets Monday, 12/22/2008
| Dow : 8519.69 down 59.42 | S & P : 871.63 down 16.25 |
| NASDAQ: 1532.35 down 31.97 | Bond (10Y): 2.17%, 113.94
MARKETS:
Stocks fall on drip-drop of bad news
Major indexes fall as Toyota issues profit warning and GM is
downgraded. Walgreens misses first-quarter earnings estimates. Oil
falls below $40.
U.S. stocks end lower with Walgreen, Toyota setting tone; Nasdaq's down 2%
U.S. stocks end lower with Walgreen, Toyota setting tone; Nasdaq's down 2%
12/22/2008 4:06:45 PM EDT
Dow industrials plumb day's lows, off 130 points; Nasdaq's down 3.2%
Dow industrials plumb day's lows, off 130 points; Nasdaq's down 3.2%
[2:31:40 PM EDT]
Crude-oil futures fall nearly 6%, closing at $39.91 a barrel
Crude-oil futures fall nearly 6%, closing at $39.91 a barrel
2:55:55 PM EDT
Energy: Oil stocks surrender early gains as crude heads lower
Oil and gas stocks slipped back into the red Monday, surrendering
opening gains as a drop in the broader market outweighed overnight
gains by crude-oil futures.
U.S. stocks mildly lower to begin holiday-shortened week
U.S. stocks mildly lower to begin holiday-shortened week
U.S. stocks fall after starting off on a mixed note, with investors back
concentrating on the fortunes of retailers and consumer discretionaries.
FREE-SHIPPING DEALS FAIL TO LURE MORE LAST-MINUTE ONLINE SHOPPERS
Last-minute deals for free shipping before the holidays were
apparently not enough to light a fire under online shoppers last week.
TOYOTA ON TRACK FOR FIRST-EVER LOSS IN FISCAL 2009
Toyota Motor Corp. slashes its profit, revenue and unit sales
forecasts for the year ending March 31, blaming a shocking slump in
the global automobile market and a sharp appreciation in the Japanese
yen against major currencies.
THREE IRISH BANKS WELCOME GOVERNMENT'S $7.8 BILLION RESCUE
Ireland's three major banks welcome the government's weekend decision
to supply them with 5.5 billion euros ($7.76 billion) in a bid to
rescue a financial system on the verge of collapse.
Energy: Oil rises as OPEC plans further output cuts
Crude-oil futures trade higher Monday as news that the Organization of
Petroleum Exporting Countries could resort to further cuts in
production comes into play.
Sunday, December 21, 2008
International
TOP STORIES as of 0900 HKT -- 22 December, 2008
DIPLOMAT: U.S. RULES OUT ZIMBABWE POLITICAL DEAL
The United States no longer supports a power-sharing deal
between Zimbabwe's President Robert Mugabe and the country's
main opposition because a viable unity government is not
possible with Mugabe in power, a top U.S. diplomat has said.
LOCKERBIE MARKS 20TH ANNIVERSARY OF BOMBING
Events commemorating the bombing of an American airliner over
the Scottish town of Lockerbie are taking place Sunday in both
the UK and the U.S. to mark the 20th anniversary of the attack
which killed 270 people.
COLOMBIAN REBEL GROUP TO RELEASE 6 HOSTAGES
A Colombian rebel group announced plans to release 6 hostages,
including former Gov. Alan Jara and former legislator Sigifredo
Lopez Tobon, according to a statement from the group on Sunday.
TERROR-DEVASTATED MUMBAI HOTELS REOPEN
The first guests checked back into the Taj Mahal Palace and the
Oberoi-Trident hotels Sunday, marking the reopening of the two
luxury venues damaged by terrorist attacks in Mumbai last month.
BAGHDAD CELEBRATES FIRST PUBLIC CHRISTMAS
From a distance, it looks like an apparition: a huge
multi-colored hot-air balloon floating in the Baghdad sky,
bearing a large poster of Jesus Christ. Below it, an Iraqi flag.
UK SEEKING WAYS TO KEEP TROOPS IN IRAQ
British government lawyers are studying "all possible options"
to legally extend the presence of British troops in Iraq beyond
New Year's Day.
CLINTON CAMPAIGN DEBT NOW AT $6.4 MILLION
Secretary of State-designate Hillary Clinton had $6.4 million in
presidential campaign debt at the end of November, according to
a report filed Saturday with the Federal Election Commission.
PASSENGERS HOSPITALIZED AS PLANE CRASH PROBED
At least seven passengers were still hospitalized Sunday, a day
after Continental Airlines Flight 1404 veered off the runway at
Denver International Airport, skidded into a ravine and caught
fire.
BUSINESS
CANADIAN AUTO INDUSTRY GETS BAILOUT TOO
Canada will provide roughly $3.3 billion in aid to its
automotive sector, honoring a previous pledge to provide 20
percent of what the U.S. government offered automakers,
officials announce.
OBAMA RAISES NEW JOBS GOAL TO 3 MILLION
President-elect Barack Obama has decided to increase his goal
for creating new jobs after receiving economic forecasts that
suggest the economy is in worse shape than had been predicted,
two Democratic officials told CNN.
BANKING GROUP HYPO SLASHES WORKFORCE
German financial giant Hypo Real Estate said Saturday it planned
to halve its 1,800 strong workforce by 2013 as part of
cost-cutting measures. The banking group received €50 billion
($70 billion) in emergency government funding in October.
International
TOP STORIES as of 1000 GMT -- 21 December, 2008
IRANIAN WARSHIPS JOIN FIGHT AGAINST PIRATES
A group of Iranian warships steams into the Gulf of Aden,
joining an expanding list of navies sent to protect shipping
routes from Somali pirates, state-run media reports.
GAZA MILITANTS FIRE MORE ROCKETS AT ISRAEL
Palestinian militants launched eight rockets and mortars from
Gaza into Israel Sunday morning, according to Israeli sources.
BILL TO KEEP FOREIGN TROOPS IN IRAQ STALLS
Iraq's parliament turns down the first draft of a bill that
would have allowed all foreign troops to remain in Iraq after
the U.N. mandate expires on December 31.
U.S. MAY DOUBLE TROOP STRENGTH IN AFGHANISTAN
Up to 30,000 additional U.S. troops could be sent to Afghanistan
next year, roughly doubling the number already there, military
officials said Saturday. Some 20,000 of the additional personnel
would be combat troops, said Col. Gregory Julian, spokesman for
U.S. forces in Afghanistan.
JET SKIDS OFF U.S. RUNWAY, CATCHES FIRE
A Boeing 737 jet carrying 112 people skidded off the runway
while it was taking off at Denver International Airport in
Colorado on Saturday, an airport spokesman said.
ROAD WARNING FOR U.S. DRIVERS AMID BLIZZARD
The Northwest braced for blizzards Saturday morning while cities
from the Midwest to New England were cleaning up after a major
storm delayed air travel and created havoc on the ground.
OBAMA RAISES NEW JOBS GOAL TO 3 MILLION
President-elect Barack Obama has decided to increase his goal
for creating new jobs after receiving economic forecasts that
suggest the economy is in worse shape than had been predicted.
OBAMA'S INAUGURATION TO CARRY HEFTY PRICE TAG
When President-elect Barack Obama takes the oath of office next
month, the nation's capital will be the site of a massive
celebration. But local officials are worried they might get
stuck with the check.
BUSINESS
CANADIAN AUTO INDUSTRY GETS BAILOUT TOO
Canada will provide roughly $3.3 billion in aid to its
automotive sector, honoring a previous pledge to provide 20
percent of what the U.S. government offered automakers,
officials announce.
BANKING GROUP HYPO SLASHES WORKFORCE
German financial giant Hypo Real Estate said Saturday it planned
to halve its 1,800 strong workforce by 2013 as part of
cost-cutting measures. The banking group received €50 billion
($70 billion) in emergency government funding in October.
MONEY WOES HITS WORLD'S RICHEST LEAGUE
The falling value of the pound against the euro might be good
for British exporters, but for the country's football clubs it's
a kick in the teeth.
