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Oil falls below $53 on fears of deep recession

Washington :: DC :: USA | about 11 hours ago | Conflict & Tragedy

Posted by LewisStanley

Oil prices fell below $53 to almost a two-year low Thursday as investors, worried by plummeting stock markets , priced in lower crude demand as the global economic downturn shapes up to be the worst in decades. Light, sweet crude...

40 news stories / 0 blog posts / 6 images / 8 videos / 0 voices

Reports: Napolitano is Obama's pick for Homeland Security

Washington :: DC :: USA | about 10 hours ago | Political News

Posted by pranay

WASHINGTON — Arizona Gov. Janet Napolitano is President-elect Barack Obama's choice to lead the Department of Homeland Security, multiple news agencies reported late Wednesday. If appointed, the Democrat in her second term would head the sprawling federal agency, which is...

32 news stories / 5 blog posts / 1 image / 19 videos / 1 voice

Obama likely to make bad nomination or two, history shows

Washington :: DC :: USA | about 1 hour ago | Political News

Posted by cooldiponline

WASHINGTON – No matter how careful he is, sooner or later President-elect Barack Obama is likely to make a bum nomination or two. "It's unavoidable," says Paul Light , a New York University professor and expert on presidential transitions. It...

9 news stories / 0 blog posts / 1 image / 5 videos / 1 voice

Paulson defends his stewardship of bailout

Washington :: DC :: USA | about 4 hours ago | Business News

Source: MarketWatch

Treasury Secretary Henry Paulson on Thursday offered a lengthy defense of Treasury's actions to date to combat the financial market crisis and laid out the challenges that his successor will face. In a speech delivered at the Ronald Reagan Presidential...

7 news stories / 0 blog posts / 15 images / 3 videos / 0 voices

Judge orders Guantanamo releases

Washington :: DC :: USA | about 5 hours ago | Conflict & Tragedy

Source: Al Jazeera

However Leon did find that a sixth Algerian man, seized alongside the other men in Bosnia-Hercegovina in 2001, had been legally detained. The ruling comes as Barack Obama, the US president-elect, has pledged to close the prison camp at Guantanamo...

11 news stories / 11 blog posts / 25 images / 20 videos / 0 voices

Treasury to backstop mutual fund

Washington :: DC :: USA | about 15 hours ago | Business News

Source: Miami Herald

The Treasury Department says it is prepared to buy assets from a troubled money market mutual fund, part of an effort to prevent any disruptions to already fragile financial markets. The department has agreed to be a buyer of last...

10 news stories / 6 blog posts / 1 image / 12 videos / 0 voices

Fannie Mae, Freddie Mac halting foreclosures

Washington :: DC :: USA | about 1 hour ago | Business News

Source: Merced Sun-Star

Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures during the holiday season. The two companies say they will halt foreclosure sales between Nov. 26 and Jan. 9, while they evaluate whether borrowers qualify for a new loan...

5 news stories / 7 blog posts / 25 images / 19 videos / 0 voices

US politicians have told the crisis-hit "Big Three" carmakers to come ...

Washington :: DC :: USA | about 1 hour ago | Business News

Posted by BiodunIginla

by Judith Stein, financial analyst for Biodun Iginla, BBC new in Minneapolis, who is suffering from jetlag after transiting from Paris, where he was on assignment. _________________________________________________________________________________ Search term Explore the BBC BBC News Updated...

9 news stories / 0 blog posts / 4 images / 1 video / 0 voices

President-elect promised change, picking insiders

Washington :: DC :: USA | about 10 hours ago | Political News

Posted by LewisStanley

President-elect Barack Obama promised the voters change but has started his Cabinet selection process by naming several Washington insiders to top posts. Obama is enlisting former Senate leader Tom Daschle as his health secretary . Hillary Rodham Clinton , a...

41 news stories / 5 blog posts / 20 images / 26 videos / 0 voices

FOXBusiness: Jobless Claims Jump to 16-Year High

Washington :: DC :: USA | about 7 hours ago | Business News

Source: Fox News

The number of people who filed for unemployment benefits for the first time jumped to a 16-year high, according to a Thursday report from the U.S...The news put heavy pressure on all the major market indices, sending the Dow to...

4 news stories / 4 blog posts / 0 images / 8 videos / 0 voices