International

Date: Wed, 17 Dec 2008 05:02:08 -0500
TOP STORIES as of 1000 GMT -- 17 December, 2008

SKIERS SAVED FROM GONDOLAS AS TOWER SNAPS
Skiers describe their lucky escapes from a gondola dangling over
a freezing creek after the tower snaps in half at a Canadian ski
resort. "I thought the whole cable system was going to come
down. I couldn't even breathe," said one passenger.

BRITISH TROOPS TO LEAVE IRAQ 'BY JULY'
UK Prime Minister Gordon Brown and Iraqi Prime Minister Nuri
al-Maliki say British forces will have "completed their tasks"
in Iraq in the first half of 2009 and will then leave the
country.

HONDA SEES 'NO PROSPECT FOR RECOVERY'
Honda slashes its earnings forecast for 2008 on Wednesday,
citing "no prospect for recovery" in the midst of a global
recession and slumping worldwide auto sales.

REBELS: 130 SRI LANKAN TROOPS KILLED
Tamil Tigers claimed on Wednesday killing 130 government troops
and wounding 300 others during heavy fighting in northern Sri
Lanka.

U.N.: FORCES CAN PURSUE SOMALI PIRATES ON LAND
The United Nations Security Council has passed a resolution
aimed at combating piracy along the Horn of Africa by allowing
military forces to chase pirates onto land in cases of "hot
pursuit."

GREEK PROTESTERS STORM TELEVISION STATION
Dozens of protesters in the Greek capital storms the
headquarters of state television station ERT, interrupting
broadcasting and unfurling a black banner that read, "Do not
watch television. Everyone out on the streets."

U.S.: NORTH KOREA TALKS HAVE STALLED
Nuclear negotiations with North Korea have stalled but still
could be reactivated before the Bush administration leaves
office next month, chief U.S. negotiator in the talks
Christopher Hill acknowledged.

BANGLADESH LIFTS STATE OF EMERGENCY
Bangladesh lifted a two-year-old state of emergency on
Wednesday, less than two weeks ahead of elections, state media
reported.

BUSINESS

SEC PROBES 'MULTIPLE FAILURES' IN MADOFF CASE
The U.S. government commission tasked with protecting investors
has launched an internal probe into why, despite credible
allegations for at least 10 years, there were "multiple
failures" in investigating what may have been the largest Ponzi
scheme in history.
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ASIA, PACIFIC MARKETS RALLY ON FED RATE CUT
Asia and Pacific markets rallied Wednesday, piggybacking on the
Wall Street surge that was fueled by the U.S. Federal Reserve
cut to a key short-term interest rate.

FED SLASHES KEY RATE TO NEAR ZERO
The U.S. Federal Reserve cut a key rate Tuesday to a range of
between zero and 0.25 percent, moving away from its tradition of
naming a target rate.