| Wall Street soars as government pledges bank aid
(AP) |
AP - Wall Street is snapping back from last week's devastating losses on growing hopes the stock market will finally find some footing. Investors are cautiously optimistic after the Bush administration and European governments pledged coordinated actions to help the crippled financial system. The Treasury has said it plans to buy U.S. bank stocks.
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| US moves to get $700B bank rescue effort started
(AP) |
AP - The Bush administration said Monday it is moving quickly to implement a $700 billion rescue program, including consulting with private law firms on how to buy ownership shares in banks to help thaw frozen lending and get the economy moving again.
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| Columnist Paul Krugman wins Nobel economics prize
(AP) |
AP - Paul Krugman, the Princeton University scholar and New York Times columnist, won the Nobel prize in economics Monday for his analysis of how economies of scale can affect trade patterns and the location of economic activity.
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| Sen. Clinton praises Obama's stance on economy
(AP) |
AP - Sen. Hillary Rodham Clinton is praising former rival Barack Obama, saying the Democratic presidential nominee is closing in on winning on Election Day.
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| Pediatricians double vitamin D recommendations
(AP) |
AP - The nation's leading pediatricians group says children from newborns to teens should get double the usually recommended amount of vitamin D because of evidence that it may help prevent serious diseases.
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| EU tells music lovers to turn down MP3 players
(AP) |
| AP - The European Union told music lovers Monday to turn down the volume of MP3 players, saying they risk permanent hearing loss from listening too long at maximum levels. |
| AP IMPACT: Iraq calmer but kidnappings spread
(AP) |
AP - Five years ago, retired Air Force intelligence officer Kirk von Ackermann became the first of 39 Americans to be kidnapped in Iraq. He's still missing, his wife fearing she'll never see him again.
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| Jonas Brothers to play Cowboys' Thanksgiving game
(AP) |
AP - The Jonas Brothers will perform during halftime of the Dallas Cowboys' nationally televised Thanksgiving Day game against the Seattle Seahawks.
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| `Chihuahua' fetches $17.5M to win another weekend
(AP) |
AP - An adorable talking dog remained just the sort of escapist movie hero audiences wanted after a week of awful economic news. Disney's family comedy "Beverly Hills Chihuahua," with Drew Barrymore providing the voice of the pooch, was the No. 1 flick for the second-straight weekend with $17.5 million, raising its 10-day total to $52.5 million, according to studio estimates Sunday.
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| AL series shifts to Boston today, tied 1-1
(AP) |
AP - The American League Championship Series resumes this afternoon in Boston. Jon Lester toes the rubber for the Red Sox against Tampa Bay's Matt Garza. In the National League, game 4 of the series is tonight in Los Angeles, with the Phillies leading 2 games to 1. The Phillies plan to send Joe Blanton to the hill against the Dodgers' Derek Lowe.
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| Governments bail out banks, UK wants new Bretton Woods
(Reuters) |
Reuters - Governments across the world launched multi-billion dollar bailouts on Monday to shore up tottering global banks and Britain called for a new Bretton Woods agreement to reshape the world financial system.
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| Obama has four-point lead on McCain
(Reuters) |
Reuters - Democrat Barack Obama has a 4-point lead over his Republican rival John McCain in the U.S. presidential race, according to a Reuters/C-SPAN/Zogby tracking poll released on Monday.
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| Santander eyes Sovereign in hunt for bargains
(Reuters) |
Reuters - Spain's Santander said it was in talks to acquire Sovereign Bancorp Inc on Monday, as the euro zone's largest bank hunted for bargains in a sector that has been hit by the global financial crisis.
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| North Korea restores U.N. monitoring of atom site-diplomats
(Reuters) |
Reuters - North Korea on Monday restored access for U.N. monitors to its atom bomb complex following a deal with Washington to salvage a denuclearization process endangered by disputes over verification, diplomats said.
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| UK bank bail-out to take big stakes in top banks
(Reuters) |
Reuters - Britain waded in with 37 billion pounds ($64 billion) of taxpayers' cash to bail out three major banks on Monday, in a move that could make the government their main shareholder.
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| GM shares rebound after Detroit merger reports
(Reuters) |
Reuters - Shares of General Motors Corp jumped almost 18 percent on Monday after reports the No. 1 U.S. automaker had been in merger talks in recent weeks with smaller rivals Ford Motor Co and Chrysler LLC.
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| Bush critic Krugman wins 2008 Nobel for economics
(Reuters) |
Reuters - U.S. economist Paul Krugman, a well-known critic of the Bush administration for policies that he argues led to the current financial crisis, won the 2008 Nobel prize for economics on Monday.
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| MUFG buys 21 percent stake in Morgan Stanley
(Reuters) |
Reuters - Mitsubishi UFJ Financial Group Inc (MUFG) said on Monday it bought a stake in beaten-down Morgan Stanley, though at more favorable terms, as the U.S. government reportedly offered to support the Japanese bank's investment.
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| Europe moves to quell financial firestorm
(AFP) |
AFP - European governments launched a multi-pronged attack to combat the financial crisis on Monday, approving hundreds of billions of dollars in loans and buying into banks in a move to end panic on the markets.
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| Mbeki in bid to save Zimbabwe power-sharing deal
(AFP) |
AFP - Zimbabwe's President Robert Mugabe swore in his two vice presidents on Monday, casting doubt on a new mediation effort aimed at saving a power-sharing deal with the opposition.
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