blog for sinoam: 01/11/2009

International

Date: Sat, 17 Jan 2009 20:01:12 -0500
TOP STORIES as of 0900 HKT -- 18 January, 2009

OLMERT: GAZA CEASE-FIRE TO BEGIN AT 2 A.M.
Israel has declared a unilateral cease-fire in the fighting in
Gaza beginning at 2 a.m., Israeli Prime Minister Ehud Olmert
said. "We can say that the conditions have been brought about
that enable us to say that the aims that we laid down for the
operation have been completely achieved -- if not more than
that, " Olmert said. "Hamas has been dealt a very serious blow."

N. KOREA SAYS IT HAS 'WEAPONIZED' PLUTONIUM
Senior North Korean officials say the communist regime has
"weaponized" its stockpile of plutonium, according to a U.S.
scholar, in a move suggesting that North Korea may have
significantly hardened its stance on nuclear negotiations.

OBAMA RETRACES LINCOLN'S TRAIN RIDE
U.S. President-elect Barack Obama retraces the route taken by
President Abraham Lincoln in 1861, traveling by train from
Philadelphia to Washington Saturday ahead of Tuesday's
inauguration ceremony. Obama has cited Lincoln as an influence
and inspiration during his own journey to the White House.

DRIVER, BYSTANDER KILLED IN IRAQI BOMB BLAST
A bomb attached to a vehicle exploded in western Baghdad
Saturday, killing the car's driver and a bystander, an Interior
Ministry official said.

TSVANGIRAI 'GLAD TO BE BACK' IN ZIMBABWE
Zimbabwe's main opposition leader, Morgan Tsvangirai, returned
to the country Saturday but vowed that he would not be rushed to
join an inclusive government.

GERMAN EMBASSY DAMAGED IN KABUL BLAST
Seven civilians are killed after a suicide bomb explodes near
the German embassy in Kabul, a government official says. Five
U.S. military personnel are also wounded in the blast, three of
them seriously, says a U.S. military spokesman.

TOP SAUDI CLERIC CONDONES CHILD MARRIAGE
The debate over the controversial practice of child marriage in
Saudi Arabia was pushed back into the spotlight this week, with
the kingdom's top cleric saying that it's OK for girls as young
as 10 to wed.

RUSSIA: GAS FLOW TO RESUME WITHIN DAYS
Ukrainian Prime Minister Yulia Tymoshenko is attending talks in
Moscow on Saturday to try to resolve the ongoing gas dispute,
according to Ukraine's official news agency, Ukrinform.
---------------------------------------------
BUSINESS

CITIGROUP TO SPLIT AFTER $8.3B LOSS
Citigroup has announced plans to split the company in two after
reporting a bigger than expected fourth quarter loss of more
than eight billion dollars.

KELLOGG RECALLS PRODUCTS AMID SALMONELLA SCARE
The Centers for Disease Control and Prevention says 453 people
in 43 states and Canada have been infected with salmonella
Typhimurium.

BANK OF AMERICA GETS NEW BAILOUT PACKAGE
Bank of America will get another $20 billion from the U.S.
government's bailout fund, with federal guarantees for another
$118 billion in mortgage-backed securities on its balance
sheets, the Treasury Department announced early Friday.

Breaking News

Date: Sat, 17 Jan 2009 16:06:03 -0500

Olmert: Israel will implement cease-fire in Gaza at 2 a.m.

Breaking News

Date: Sat, 17 Jan 2009 01:16:03 -0500

Suicide bombing kills seven civilians near German Embassy in Kabul,
Afghan Interior Ministry official says.

International

Date: Sat, 17 Jan 2009 05:01:12 -0500
TOP STORIES as of 1000 GMT -- 17 January, 2009

DEADLY SUICIDE BOMBING ROCKS KABUL
Seven civilians are killed after a suicide bomb explodes near
the German embassy in Kabul, a government official says. Five
U.S. military personnel are also wounded in the blast, three of
them seriously, says a U.S. military spokesman.

ISRAELIS EDGE CLOSER TO CEASE-FIRE IN GAZA
Israel's security cabinet could vote Saturday on the basics of a
plan that may end the fighting in Gaza, as movement toward a
cease-fire seemed to pick up steam on multiple fronts.

DRIVER, BYSTANDER KILLED IN IRAQI BOMB BLAST
A bomb attached to a vehicle exploded in western Baghdad
Saturday, killing the car's driver and a bystander, an Interior
Ministry official said.

TOP SAUDI CLERIC CONDONES CHILD MARRIAGE
The debate over the controversial practice of child marriage in
Saudi Arabia was pushed back into the spotlight this week, with
the kingdom's top cleric saying that it's OK for girls as young
as 10 to wed.

UKRAINIAN PM IN MOSCOW FOR GAS TALKS
Ukrainian Prime Minister Yulia Tymoshenko is attending talks in
Moscow on Saturday to try to resolve the ongoing gas dispute,
according to Ukraine's official news agency, Ukrinform.

INVESTIGATORS ANALYZE U.S. JETLINER CRASH
Aviation investigators arrive in New York to interview the pilot
of a US Airways plane that crash-landed in the Hudson River.
Passengers have lauded Chesley B. "Sully" Sullenberger for his
bravery in bringing the plane down without loss of life and
ensuring all aboard were evacuated before he left the aircraft.

U.S. INTEL: BIN LADEN'S SON LIKELY IN PAKISTAN
A son of Osama bin Laden, believed to be an al Qaeda operative,
has left Iran and is likely in Pakistan, the chief intelligence
officer of the United States said Friday.

RACISTS WATCHED FOR OBAMA INAUGURATION
Hate crimes experts and law enforcement officials are closely
watching white supremacists across the country as Barack Obama
prepares next week to be sworn in as the first black president
of the United States.
--------------------------------------------
BUSINESS

CITIGROUP TO SPLIT AFTER $8.3B LOSS
Citigroup has announced plans to split the company in two after
reporting a bigger than expected fourth quarter loss of more
than eight billion dollars.

KELLOGG RECALLS PRODUCTS AMID SALMONELLA SCARE
The Centers for Disease Control and Prevention says 453 people
in 43 states and Canada have been infected with salmonella
Typhimurium.

BANK OF AMERICA GETS NEW BAILOUT PACKAGE
Bank of America will get another $20 billion from the U.S.
government's bailout fund, with federal guarantees for another
$118 billion in mortgage-backed securities on its balance
sheets, the Treasury Department announced early Friday.

Energy: ConocoPhillips cuts jobs, spending in face of falling oil prices

Date: 17 JAN 2009 01:17:54 GMT

ConocoPhillips says it will cut 4%, or about 1,300 employees, from its
payroll and slash capital spending this year to cope with falling oil
prices and lower refining margins as a severe economic downturn saps
global energy demand.

International

Date: Fri, 16 Jan 2009 20:02:03 -0500
TOP STORIES as of 0900 HKT -- 17 January, 2009

CRASH PILOT 'THE RIGHT PERSON AT THE RIGHT TIME'
The pilot who successfully ditched his US Airways plane in New
York's Hudson River without anyone on board dying was "the right
guy at the right time," a friend said. Chesley B. Sullenberger
III walked the length of the plane twice to verify everyone was
evacuated, New York Mayor Michael Bloomberg said.

RACISTS WATCHED FOR OBAMA INAUGURATION
Hate crimes experts and law enforcement officials are closely
watching white supremacists across the country as Barack Obama
prepares next week to be sworn in as the first black president
of the United States.

ISRAELI FORCES CLASH WITH HAMAS GUNMEN
More airstrikes rattled northern and southern Gaza early Friday
morning as Israeli forces stepped up their campaign against the
Palestinian territory's Hamas leaders.

ISRAEL, U.S. TARGET HAMAS ARMS SMUGGLING
The top diplomats from the United States and Israel plan to sign
an agreement Friday on a move to stop arms smuggling by Hamas
militants from Egypt into the war-ravaged Palestinian territory
of Gaza, Israeli officials said.

IRANIAN MEDIA REPORT BAHA'I MISSIONARY ARRESTS
Iranian authorities have reportedly arrested several women for
doing missionary work for the Baha'is, the religious group whose
persecution by the Islamic republic has been condemned by human
rights activists and governments around the globe.

SOMALIA CONFIRMED AS PIRACY CAPITAL
Piracy off the coast of Somalia rose nearly 200 percent in 2008
compared to the year before, with bolder attacks over greater
distances, an international piracy monitor said Friday.

U.S. TROOPS DIVERTED FOR AFGHAN SURGE
A naval brigade is being diverted to Afghanistan to help prepare
for the extra U.S. troops that will be sent to that country, a
Pentagon spokesman announced Friday.

SLEEPER VIRUS EXPOSES MILLIONS OF PCS TO HIJACK
A new sleeper virus that could allow hackers to steal financial
and personal information has now spread to more than eight
million machines in what industry analysts say is one of the
most serious infections they have ever seen.
--------------------------------------------
BUSINESS

CITIGROUP TO SPLIT AFTER $8.3B LOSS
Citigroup has announced plans to split the company in two after
reporting a bigger than expected fourth quarter loss of more
than eight billion dollars.

BANK OF AMERICA GETS NEW BAILOUT PACKAGE
Bank of America will get another $20 billion from the U.S.
government's bailout fund, with federal guarantees for another
$118 billion in mortgage-backed securities on its balance
sheets, the Treasury Department announced early Friday.

Russia is hoping for wide participation
at talks this weekend in Moscow to resolve a gas dispute that
has left parts of Europe stuck in the cold, Russian Foreign
Minister Sergei Lavrov said Friday.

Tech: Intel gains help lift tech sector at market close

Date: Fri, 16 Jan 2009 15:16:42 -0800 (PST)

Tech Stocks: Intel gains help lift tech sector at market close
1/16/2009 4:21 PM ET
Tech stocks turn in a largely upbeat performance as Intel Corp. and
IBM Corp. help the sector break free from earlier losses and end the
day with broad gains.
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Time Warner holders OK reverse stock split
1/16/2009 4:43 PM ET
Time Warner shareholders voted Friday to authorize a reverse stock
split of either 1-to-2 or 1-to-3 once the separation of Time Warner
Cable has been completed.
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AMD to cut 1,100 jobs, slash executive and staff salaries
1/16/2009 4:24 PM ET
The chip maker plans to cut its workforce by 9%, or roughly 1,100
positions, in the first quarter as it struggles to lower costs in an
economic downturn.
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Intel shares rise as analysts anticipate turnaround
1/16/2009 4:17 PM ET
Intel Corp. shares rise despite the chip maker reporting a huge drop
in quarterly profit as analysts anticipate the market bottom for a
tech giant wit a history of surviving downturns.
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Europe objects to Microsoft's browser bundling
1/16/2009 3:40 PM ET
European antitrust regulators have told Microsoft that the company's
practice of including its Internet browser with its popular Windows
operating system violates European competition law.
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Earnings Outlook: EBay expected to see earnings decline in fourth
quarter
1/16/2009 2:52 PM ET
The online auctioneer, which is trying to restructure its business in
the middle of an economic recession, faces a relatively dim outlook
for its fourth-quarter earnings report next week.
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Earnings Outlook: After weeks of gloomy rumors, Microsoft to address
Wall Street
1/16/2009 2:36 PM ET
Following weeks of speculation that Microsoft Corp. may take the
unusual step of cutting jobs to grapple with the down economy, the
company is expected to post fiscal second-quarter financial results
after market's close on Thursday.
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Earnings Outlook: Google expected to see profit gain despite economy
1/16/2009 1:49 PM ET
Google Inc. will follow news of its first-ever round of layoffs with a
fiscal fourth-quarter earnings report on Thursday, as a number of
analysts have recently reduced their expectations for the company's
performance in the period.
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Telecom Stocks: Telecoms fade after early advances
1/16/2009 1:46 PM ET
Early gains fizzled and most telecommunications
stocks were flat to lower in Friday action, just days ahead of the
inauguration of President-elect Barack Obama.
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Circuit City to liquidate, adding to U.S. job losses
1/16/2009 1:43 PM ET
After failing to secure financing from creditors and lenders, bankrupt
electronics vendor Circuit City will liquidate, joining the list of
retailers like Linens 'n Things that are closing up shop due to the
economic downturn.
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Earnings Outlook: Steadiness, caution expected with IBM report
1/16/2009 11:31 AM ET
IBM Corp. is slated to report fourth-quarter earnings on Tuesday, and
analysts are largely expecting Big Blue to provide some welcome, if
only temporary, steadiness to a tech sector that has become rife with
disappointing quarterly results and weak outlooks.
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Before the Bell: Citigroup, Bank of America, Intel in the spotlight
1/16/2009 8:37 AM ET
Stock market futures pointed to a second day of gains Friday as the
U.S. government injected capital into Bank of America and guaranteed
assets at Citigroup after heavy losses for both firms.
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Sony Ericsson posts second straight quarterly loss
1/16/2009 6:10 AM ET
Sony Ericsson Mobile Communications reports its second-straight
quarterly loss as sales slump on weaker consumer demand and it takes
charges for job cuts.
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Samsung to restructure into 2 business units
1/15/2009 11:34 PM ET
South Korean electronics giant Samsung Electronics announced Friday an
operational and management shakeup that will see the world's largest
maker of memory chips and liquid crystal display panels restructure
into two operating
divisions, according to a published report.
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Video game sales beat estimates for December
1/15/2009 9:15 PM ET
Despite the slumping national economy, sales of video games still
managed to beat Wall Street's expectations for the month of December,
thanks mostly to
strong demand for Nintendo devices.

--
Posted By tamjohnhan to johnhan at 1/16/2009 06:16:00 PM

Markets Friday, 01/16/2009

Date: Fri, 16 Jan 2009 17:31:03 -0500

MARKETS:
Stocks stage comeback
Wall Street gains at the end of a choppy session.

Bank of America's dividend cut one of many facing investors

Date: Fri, 16 Jan 2009 17:01:34 -0500

Bank of America's dividend cut one of many facing investors

The financial companies behind much of the trauma clobbering the
broader markethave S&P 500 investors in 2009 facing the worst picture
for dividends in at least half a century.

2008 FOOD INFLATION HIGHEST SINCE 1980, WITH MORE HIKES ON WAY

Grocery-store food prices jumped 6.6% in 2008, the largest annual
spike since 1980, the Labor Department said Friday.

CIRCUIT CITY TO LIQUIDATE, ADDING TO U.S. JOB LOSSES

After failing to secure financing from creditors and lenders, bankrupt
electronics vendor Circuit City will liquidate, joining the list of
retailer like Linens 'n Things that are closing up shop due to the
economic downturn.

CITI TO OPERATE TWO UNITS, SPLIT BANK FROM TOXIC ASSETS

Citigroup is realigning into two businesses, in effect reverting back
to its operations before Sandy Weill and his team turned the company
into a "financial supermarket" over the last decade.

TREASURY PUTS OUT BAILOUT CEO PAY PACKAGE RULES

Treasury puts out bailout CEO pay package rules.

Stocks stage a late-day rally, with the Dow closing up 60 after BofA got another bailout and Citi unveiled plans to split.

Date: Fri, 16 Jan 2009 16:02:19 -0500

Stocks stage a late-day rally, with the Dow closing up 60 after BofA
got another bailout and Citi unveiled plans to split.

Dow industrials up 90 points near Friday's close

Date: Fri, 16 Jan 2009 15:54:12 -0500

Dow industrials up 90 points near Friday's close
1/16/2009 3:52:15 PM EDT

Circuit City, which has 30,000 workers at 567 stores, seeks court OK to liquidate after failing to reach deal with creditors.

Date: Fri, 16 Jan 2009 11:14:05 -0500

Circuit City, which has 30,000 workers at 567 stores, seeks court OK
to liquidate after failing to reach deal with creditors.

NTSB agents arrive to investigate ditched US Airways flight

Date: Fri, 16 Jan 2009 12:01:11 -0500

NTSB agents arrive to investigate ditched US Airways flight

As the pilot of a US Airways jet that splashed down in the Hudson
River wins accolades, National Transport Safety Board investigators
arrive to begin their inquiry into the crash Thursday afternoon.

CITI, B. OF. A. RESULTS HAMMERED BY CRISIS

Citigroup unveils plans to dismantle more of its financial-services
empire and Bank of America says it will get billions of dollars in new
government support.

CITI TO OPERATE TWO UNITS, SPLIT BANK FROM TOXIC ASSETS

Citigroup Inc said it will realign into two businesses, Citicorp and Citi
Holdings, in effect reverting back to running a banking business
similar to its operations before Sandy Weill and his team turned the
firm into a financial supermarket over the last decade.

ECONOMIC REPORT: CONSUMER PRICES SHOW SMALLEST GAIN IN 54 YEARS

In another sign of the depth of the global economic slowdown, U.S.
consumer prices rises just 0.1% in 2008, the smallest increase in 54
years.

INTEL SHARES RISE AS ANALYSTS ANTICIPATE TURNAROUND

Intel Corp. shares rise despite the chip maker reporting a huge drop
in quarterly profit as analysts anticipate the market bottom for a
tech giant with
a history of surviving downturns.

International

Date: Fri, 16 Jan 2009 05:01:08 -0500
TOP STORIES as of 1000 GMT -- 16 January, 2009

PASSENGERS PRAISE 'PHENOMENAL' LANDING
Passengers on US Airways flight 1549 that crash-landed into New
York's Hudson River have praised the courage of Chesley B.
"Sully" Sullenberger. Passengers said Sullenberger's actions
minimized damage to the aircraft and saved its 155 passengers
and crew. Sullenberger has been a pilot with US Airways since
1980, following seven years in the U.S. Air Force.

AIRSTRIKES CONTINUE TO TARGET HAMAS LEADERS
More airstrikes rattled northern and southern Gaza early Friday
morning as Israeli forces stepped up their campaign against the
Palestinian territory's Hamas leaders.

HONDA CUTS JOBS; SUBARU TO POST LOSSES
Japanese automaker Honda announced Friday it will cut production
and eliminate its temporary, part-time workforce of 3,100, while
smaller rival Subaru's parent company warned it would post
losses for 2008.

ZIMBABWE ACTIVIST: 'I FEARED FOR MY LIFE'
Zimbabwe's top human rights activist broke down twice in court
Thursday, as she described being detained and tortured by state
agents last month.

BANK OF AMERICA GETS NEW BAILOUT
Bank of America will get another $20 billion from the U.S.
government's bailout fund, with federal guarantees for another
$118 billion in mortgage-backed securities on its balance
sheets, the Treasury Department announced early Friday.

IRELAND NATIONALIZES ANGLO IRISH BANK
Shares in Anglo Irish Bank have been suspended after the Irish
government stepped into nationalize the bank after the deciding
a planned a recapitalization plan was longer an "appropriate and
effective" way to keep the lender afloat.

BUSH GIVES FAREWELL ADDRESS TO NATION
President Bush will make his last public appearance as commander
in chief in a prime-time television speech Thursday, his
spokeswoman said.

U.S.-UNITED ARAB EMIRATES SIGN NUCLEAR DEAL
The United States signed an agreement Thursday on civil nuclear
cooperation with the United Arab Emirates -- the first such pact
with a Middle Eastern country.
-------------------------------------------------
BUSINESS

EUROPE LASHES OUT AT RUSSIA, UKRAINE
European officials expressed frustration at Russia and Ukraine's
inability to enforce an agreement to resume delivery of natural
gas, amid heat and cooking gas shortages and sub-zero
temperatures endured by millions of people.

ECB CUTS RATES TO RECORD 2 PERCENT LOW
The European Central Bank Thursday cut a key lending rate by
half a percentage point to 2 percent.

BRITAIN: THIRD HEATHROW RUNWAY APPROVED
The British government -- ignoring a firestorm of controversy --
Thursday approved construction of a third runway at London's
Heathrow Airport, saying the move is essential for British
business and would retain the airport's status as a major
European hub.

Citigroup reports quarterly loss of $8.3B - much worse than expected. Says it will split into 2 businesses - a bank and a brokerage.

Date: Fri, 16 Jan 2009 06:05:06 -0500

Citigroup reports quarterly loss of $8.3B - much worse than expected.
Says it will split into 2 businesses - a bank and a brokerage.

Bank of America quarterly loss was $1.8B. In addition, Merrill lost $15.3B, and BoA announced a $20B bailout.

Date: Fri, 16 Jan 2009 06:17:08 -0500

Bank of America says it lost $1.8B in quarter. In addition, Merrill
lost $15.3B, and BoA announced a $20B bailout.

Increase in consumer prices in 2008 is smallest in 54 years; CPI down in December

Date: Fri, 16 Jan 2009 08:34:04 -0500

Increase in consumer prices in 2008 is smallest in 54 years; CPI down
in December
1/16/2009 8:32:04 AM EDT

U.S. industrial production falls 2% in December, 11.5% in fourth quarter

Date: Fri, 16 Jan 2009 09:19:07 -0500

U.S. industrial production falls 2% in December, 11.5% in fourth quarter
1/16/2009 9:17:17 AM EDT

Consumer prices fell 0.7% in December - 3rd straight month of declines - on sharp drop in energy costs, government says.

Date: Fri, 16 Jan 2009 08:34:03 -0500

Consumer prices fell 0.7% in December - 3rd straight month of declines
- on sharp drop in energy costs, government says.

Stocks open higher as another government bailout of Bank of America offsets dismal quarterly results from BofA and Citigroup.

Date: Fri, 16 Jan 2009 09:31:02 -0500

Stocks open higher as another government bailout of Bank of America
offsets dismal quarterly results from BofA and Citigroup.

International

Date: Thu, 15 Jan 2009 20:02:03 -0500
TOP STORIES as of 0900 HKT -- 16 January, 2009

JETLINER CRASH LANDS ON HUDSON RIVER
Passengers have scrambled to get off a sinking jetliner after it
went down with more than 150 people on board in New York's
Hudson River. All passengers are believed to have escaped from
the US Airways jet, which was en route to Charlotte. "I think
that's miraculous," a passenger said.

HAMAS ADMITS MINISTER KILLED
Hamas-controlled Al-Aqsa TV announces Hamas Interior Minister
Saeed Siam has been killed in an airstrike, along with his son
and brother, as Israeli ground forces -- backed by massive air
power and heavy shelling -- push deeper into Gaza City. The
United Nations' main relief compound is damaged during heavy
fighting earlier in the day.

UK: 'WAR ON TERROR' PHRASE DID HARM
The phrase "war on terror" is misleading and may have done more
harm than good as countries around the world fight extremism,
British Foreign Secretary David Miliband said Thursday.

SRI LANKAN JOURNALIST PREDICTED OWN EXECUTION
A crusading Sri Lankan journalist shot dead last week knew he
would be killed -- he said so in a dramatic, posthumously
published column touching a raw nerve in his war-torn island
nation.

BUSH GAVE FAREWELL ADDRESS TO NATION
President Bush made his last public appearance as commander
in chief in a prime-time television speech Thursday.

U.S. SENATE OKS USE OF REMAINING BAILOUT FUNDS
President-elect Barack Obama's political clout is being put to
the test Thursday, just days before his inauguration, as the
Senate votes on whether to tap into the second half of the $700
billion bailout package.

GREEK TERROR GROUP: WE SHOT POLICEMAN
Greece's most militant terror group has claimed responsibility
for shooting and critically injuring a 21-year-old policeman,
according to a long statement published Thursday in a local
newspaper.

--------------------------------
BUSINESS

NEW BANKING WOES DRAG MARKETS
Global stocks continued sliding Thursday as reports that Bank of
America faces a cash shortfall in its purchase of Merril Lynch
dragged Wall Street while and ECB rate cut failed to cheer
Europe.

ECB CUTS RATES TO RECORD 2 PERCENT LOW
The European Central Bank Thursday cut a key lending rate by
half a percentage point to 2 percent.

BRITAIN: THIRD HEATHROW RUNWAY APPROVED
The British government -- ignoring a firestorm of controversy --
Thursday approved construction of a third runway at London's
Heathrow Airport, saying the move is essential for British
business and would retain the airport's status as a major
European hub.

Tech: Palm, Amazon jump as techs close with gains

Date: Thu, 15 Jan 2009 18:00:11 -0500

Tech Stocks: Palm, Amazon jump as techs close with gains
1/15/2009 4:51 PM ET
Most technology stocks bounce back to positive territory by the close
of trading, powered by Palm Inc. and Amazon.com.

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Yahoo shares slip, as CEO not 100% sold on deal
1/15/2009 4:44 PM ET
Shares of Yahoo fall faster than the broader market, following news
that the company's new chief executive may be reluctant to reach a
search-business deal with Microsoft.

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New Yahoo CEO Bartz to receive $1 million salary
1/15/2009 4:40 PM ET
Newly-appointed Yahoo Inc. Chief Executive Carol Bartz has signed a
four-year agreement with the company that will pay her an annual base
salary of $1 million, according to a regulatory filing Thursday.

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Intel posts 90% drop in fourth-quarter net profit
1/15/2009 4:38 PM ET
SAN FRANCISCO (MarketWatch) - Intel Corp. on Thursday reported a 90%
drop in fourth-quarter net profit as the chip giant navigated what
Chief Executive Paul Otellini said was an uncertain market
environment.

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Investors, analysts sound cautious on Jobs' medical leave
1/15/2009 4:26 PM ET
Apple shares stumble as Steve Jobs hands off day-to-day CEO
responsibilities, with analysts wondering whether the visionary leader
will return.
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Earnings Outlook: Caution and change surround Apple's quarterly report
1/15/2009 2:12 PM ET
With Chief Executive Steve Jobs going out on medical leave for the
next five months, there is a definite sense of change going around
Apple as the company prepares to deliver its fiscal first-quarter
report .

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Motorola to post loss, cut 4,000 jobs, as sales slump
1/15/2009 2:01 PM ET
The blows keep coming at Motorola, the wireless-technology bellwether
that continues to grapple with declining sales and heightened
competition from smart phones.

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Earnings Outlook: AMD expected to report a bigger fourth-quarter loss
1/15/2009 1:25 PM ET
Advanced Micro Devices is expected to report a bigger loss in the
fourth quarter as the chip industry reels from a severe slump marked
by a steep decline in demand for personal computers.

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Earnings Outlook: Intel expected to report big drop in revenue, earnings
1/15/2009 12:34 PM ET
Analysts will look beyond Intel's 23% projected drop in fourth-quarter
sales for clues as to the ongoing impact of the global economic
downturn on the tech industry, but this may well prove a futile
effort. "Don't expect much in terms of guidance," says one. The
world's biggest chip maker reports financial results after the bell
Thursday.

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Retailers, losing traffic, maximize on those already inside
1/15/2009 12:04 PM ET
If consumers have lost their appetite to shop with store traffic in
free-fall, what should a retailer do? That was among the questions
being raised at the retail industry's biggest annual event.

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Autodesk to miss earnings target, cut 750 jobs
1/15/2009 11:24 AM ET
Autodesk lowers its fourth-quarter forecast, plans to cut about 10% of
its workforce and says it's spinning off a business, as it moves to
lower its expenses in a tough economy.

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Xilinx shares jump on 35% profit gain
1/15/2009 11:19 AM ET
Shares of Xilinx Inc. rise after the chip maker reports a 35% jump in
fiscal third-quarter net profit.

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Israel Stocks: Tel Aviv ends mainly higher; banks mull fine, techs retreat
1/15/2009 11:03 AM ET
Israeli stocks mainly gain ground, with a few key blue chips on the
rise and real-estate companies trading strong but with technology
bucking the bullish trend.

Markets Thursday, 01/15/2009

Date: Thu, 15 Jan 2009 17:31:03 -0500

MARKETS:
Bank-rescue hopes buoy stocks
Wall Street stages a snapback rally after major gauges touch two-month lows.

US Airways plane crashes into Hudson River in New York

Date: Thu, 15 Jan 2009 17:01:30 -0500

US Airways plane crashes into Hudson River in New York

US Airways flight 1549 on its way to Charlotte, N.C., has crashed into
the Hudson River off New York City.

INTEL POSTS 90% DROP IN FOURTH-QUARTER NET PROFIT

Intel Corp. on Thursday reported a 90% drop in
fourth-quarter net profit as the chip giant navigated what Chief
Executive Paul Otellini said was an uncertain market environment.

MORTGAGES: BENCHMARK 30-YEAR MORTGAGE FALLS BELOW 5% FOR FIRST TIME

The benchmark 30-year mortgage fell below 5% for the first time ever
in Freddie Mac's weekly rate survey as economic weakness continued to
push interest rates lower, the mortgage agency said.

BANK OF AMERICA REPORTEDLY TO GET BILLIONS FROM WASHINGTON

Bank of America shares lose more than a quarter of their value
Thursday and trade at 17-year lows after a report that the government
is dipping into its $700 billion bailout war chest to help the firm
digest its acquisition of Merrill Lynch & Co

ECB TO PAUSE NEXT MONTH AFTER REDUCING RATES TO 2%

European Central Bank President Jean-Claude Trichet signaled that
policy makers will likely take a breather in February after cutting
the euro-zone's key lending rate another half-point on Thursday to
match an all-time low of 2%.

Senate rejects an attempt to block $350 billion in bailout funds, effectively releasing the money for incoming President Obama.

Date: Thu, 15 Jan 2009 16:57:03 -0500

Senate rejects an attempt to block $350 billion in bailout funds,
effectively releasing the money for incoming President Obama.

Breaking News

Date: Thu, 15 Jan 2009 16:50:07 -0500

Investigators believe all passengers and crew, more than 150 people,
survive a plane crashing into New York's Hudson River.

Stocks stage a comeback with the Dow closing up slightly after falling 200 points on renewed fears about the shaky banking sector.

Date: Thu, 15 Jan 2009 16:02:09 -0500

Stocks stage a comeback with the Dow closing up slightly after falling
200 points on renewed fears about the shaky banking sector.

Breaking News

Date: Thu, 15 Jan 2009 13:00:35 -0800 (PST)

Emergency officials are responding to a downed US Airways plane in New
York's Hudson River, officials say.

U.S. Airways jet crashes in New York City's Hudson River

Date: Thu, 15 Jan 2009 15:53:33 -0500

U.S. Airways jet crashes in New York City's Hudson River
1/15/2009 3:51:43 PM EDT

Energy: Infrastructure fund manager taps Fluor, FPL Group, Siemens

Date: 15 JAN 2009 19:28:54 GMT
The Stockpickers - Infrastructure fund manager taps Fluor, FPL Group, Siemens

The huge economic stimulus bill that Democrats have in the works is
designed to kick-start the economy and create thousands of jobs. But
the estimated $825 billion package should also be good news for
investors in infrastructure stocks.

Breaking news: Obama plans Middle East effort

Date: Thu, Jan 15, 2009 at 2:08 PM

WASHINGTON - President-elect Barack Obama says he will appoint a team
immediately after his inauguration Tuesday to address "on Day One" the
crisis in Gaza and troubles across the Middle East. In a wide-ranging
interview with USA TODAY, Obama noted challenges in Iran, Afghanistan
and Pakistan as well as Gaza. "We've got to be active in all these
areas in order for us to be successful in any of these areas," he
said, adding that the diplomatic offensive could include special
envoys.

Breaking News

Date: Thu, 15 Jan 2009 12:46:05 -0500

Hamas Interior Minister Saeed Siam killed by an Israeli airstrike,
along with his son and brother, Hamas' Al-Aqsa TV says

Dow drops over 200 points, falling below 8,000 for the first time since its bear market trading low on Nov. 21.

Date: Thu, 15 Jan 2009 12:45:05 -0500

Dow drops over 200 points, falling below 8,000 for the first time
since its bear market trading low on Nov. 21.

Energy: Managed decline of Russia's ruble continues

Date: 15 JAN 2009 17:06:49 GMT

The Russian ruble falls to an 11year low against the U.S. dollar, as
the central bank devalues the currency for the fourth time in less
than a week, according to media reports.

Benchmark 30-year mortgage falls below 5% for first time

Date: Thu, 15 Jan 2009 12:01:09 -0500
Benchmark 30-year mortgage falls below 5% for first time

The benchmark 30-year mortgage fell below 5% for the first time ever
in Freddie Mac's weekly rate survey as economic weakness continued to
push interest rates lower, the mortgage agency said.

J.P. MORGAN PROFIT FALLS MORE THAN 75%

J.P. Morgan Chase says fourth-quarter profit falls 77.6% amid
continuing write-downs and a deteriorating consumer environment.

BANK OF AMERICA REPORTEDLY TO GET BILLIONS FROM WASHINGTON

Bank of America shares lost more than a quarter of their value
Thursday and traded at 17-year lows after a report that the government
is dipping into its $700 billion bailout war chest to help the firm
digest its acquisition of Merrill Lynch & Co.

INVESTORS, ANALYSTS SOUND CAUTIOUS ON JOBS' HEALTH ISSUES

News that Apple's CEO is going on medical leave send the company's
shares down as much as 6% as analysts fret about succession planning
under the visionary tech leader.

ECB TO PAUSE NEXT MONTH AFTER REDUCING RATES TO 2%

European Central Bank President Jean-Claude Trichet signaled that
policy makers will likely take a breather in February after cutting
the euro-zone's key lending rate another half-point on Thursday to
match an all-time low of 2%.

Benchmark 30-year mortgage rate falls below 5% for first time ever

Date: Thu, 15 Jan 2009 10:43:21 -0500

Benchmark 30-year mortgage rate falls below 5% for first time ever
1/15/2009 10:41:28 AM EDT

Number of people filing for first-time unemployment benefits rose last week by 54,000 to 524,000, the goverment says.

Date: Thu, 15 Jan 2009 08:34:03 -0500

Number of people filing for first-time unemployment benefits rose last
week by 54,000 to 524,000, the goverment says.

International

Date: Thu, 15 Jan 2009 05:01:03 -0500
TOP STORIES as of 1000 GMT -- 15 January, 2009

BESIEGED AID GROUP PLEADS FOR GAZA TRUCE
As red-hot shrapnel falls on the main U.N. HQ in Gaza, the
organization's aid agency has called on both Israel and Hamas to
stop their now-20-day war. But a spokesman for the U.N. Relief
and Works Agency says neither side seem to be listening, halting
distribution of food and health supplies to outlying parts of
the warzone.

BUSH OFFICIAL SAYS GITMO DETAINEE TORTURED
For the first time, a senior Bush administration official has
publicly described a detainee's treatment at the U.S. Navy Base
at Guantanamo Bay, Cuba, as torture, according to a published
report.

RED CROSS WORKERS KIDNAPPED IN PHILIPPINES
Men on motorcycles with machine-guns abducted three workers of
the International Committee of the Red Cross in the southern
Philippines Thursday morning, officials said.

WORST OF U.S. DEEP FREEZE IS YET TO COME
Frigid air gripped cities from the Canadian border to Florida on
Wednesday, with some cities posting record lows.

CHINA BECOMES WORLD'S THIRD LARGEST ECONOMY
China has become the world's third-largest economy, surpassing
Germany and closing rapidly on Japan, according to government
and World Bank figures.

ASIAN MARKETS TUMBLE AFTER WALL ST SELL-OFF
Asian markets tumbled Thursday after a sell-off on Wall Street,
with the Nikkei closing 4.9 percent lower after Japan's Cabinet
office reported a record drop in November machinery orders,
another sign of the ongoing recession.

APPLE'S JOBS TO TAKE SICK LEAVE
Apple Inc. CEO Steve Jobs said today he will take a leave of
absence because of health issues, CNNMoney.com reports. Jobs,
who announced last week that he suffered from a hormone
imbalance that caused him to lose weight, said he will be away
from the job until the end of June. "My health-related issues
are more complex than I originally thought," he said in a letter
to employees.

SUSPECTED WWII BOMB WOUNDS MAN IN JAPAN
A worker was severely injured Wednesday when a bomb, believed to
be left over from World War II, went off at a construction site
in Okinawa, police said.

-------------------------------------------
BUSINESS

VOTE LOOMS ON REMAINING U.S. BAILOUT FUNDS
The U.S. Senate will vote Thursday on whether the second half of
the $700 billion financial rescue package is released, Senate
Majority Leader Harry Reid said late Wednesday.

KELLOGG WARNS ON PEANUT BUTTER CRACKERS
The Kellogg Co. announced Wednesday it is recommending that
consumers not eat its peanut butter crackers because they may be
tainted with salmonella.

GEITHNER SNAG PROMPTS BUREAUCRATIC MOVE
As U.S. President-elect Barack Obama defended Tim Geithner, his
Treasury Secretary choice, a top Bush official agreed to stay on
as acting Treasury Secretary if Geithner is not confirmed by
Inauguration Day, a source close to the transition team said.

Breaking News

Date: Thu, 15 Jan 2009 05:02:07 -0500

Uncontrollable fire rages at U.N. relief agency's HQ in Gaza as
compound hit by artillery, agency's local director says.

House Democrats, citing worst financial crisis since Depression, propose $825 billion of spending and tax cuts to revive economy.

Date: Thu, 15 Jan 2009 10:17:08 -0500

House Democrats, citing worst financial crisis since Depression,
propose $825 billion of spending and tax cuts to revive economy.

Dow industrials down more than 100 points; B. of A. is biggest decliner, falling 20%

Date: Thu, 15 Jan 2009 10:08:12 -0500

Dow industrials down more than 100 points; B. of A. is biggest
decliner, falling 20%
1/15/2009 10:06:28 AM EDT

European Central Bank chops rates by a half-point to 2%

Date: Thu, 15 Jan 2009 07:48:13 -0500

European Central Bank chops rates by a half-point to 2%
1/15/2009 7:46:24 AM EDT

First-time jobless claims up 54,000 last week; U.S. continuing claims at 4.5 million

Date: Thu, 15 Jan 2009 08:33:50 -0500

First-time jobless claims up 54,000 last week; U.S. continuing claims
at 4.5 million
1/15/2009 8:32:04 AM EDT

Stocks open flat after JPMorgan Chase reports a surprise profit and investors digest grim economic data.

Date: Thu, 15 Jan 2009 09:32:06 -0500

Stocks open flat after JPMorgan Chase reports a surprise profit and
investors digest grim economic data.

International

Date: Wed, 14 Jan 2009 20:02:07 -0500
TOP STORIES as of 0900 HKT -- 15 January, 2009

PALESTINIANS: GAZA DEATH TOLL PASSES 1,000
Palestinian medical sources have said the death toll in Gaza has
risen to 1,010, while a further 4,700 Palestinians have been
wounded in the conflict which began on December 27. The news
came as Israeli warplanes and artillery pounded the territory
for a 19th day.

RUSSIAN NAVY THWARTS PIRATE ATTACK
A Russian naval ship rescued a Dutch container vessel under
attack by suspected Somali pirates in the Gulf of Aden, the head
of the International Maritime Bureau said Wednesday.

MAFIA SUSPECT SEIZED AFTER SEWER CHASE
Police Wednesday arrested the suspected head of an Italian mafia
murder squad following a two-day manhunt after he eluded police
by crawling through sewer pipes, according to Italian media
reports.

PENTAGON: IRAQ SAFER, IRAN A THREAT
Iran poses a significant threat to Iraq, but security has
greatly improved in the war-ravaged country, according to a
Pentagon report.

SECRETARY FOR IRANIAN RIGHTS GROUPS 'ARRESTED'
Iranian authorities arrested a woman Wednesday who worked as a
secretary for two human rights groups funded by Nobel peace
laureate Shirin Ebadi.

BUSH: TERROR THREAT IS OBAMA'S TOP PRIORITY
U.S. President George W. Bush says the biggest priority his
successor Barack Obama will face is protecting the U.S. from a
9/11-style terrorist attack. In an interview with Larry King,
Bush said his administration had "decimated" al Qaeda's
leadership and brushed off low opinion poll ratings as
"yesterday's news."

EUROPEANS FREEZE THROUGH GAS DISPUTE
Silvia Todorova has been heating water in a cooking pot so she
can bathe her eight-month-old son Daniel.
--------------------------------------------------
BUSINESS

BARCLAYS CONFIRMS WORLDWIDE JOB CUTS
Barclays says it will cut 2,100 jobs from its UK retail and
commercial banking businesses and Barclays Wealth, which is
likely to take job cuts at the bank past 4,000 this week.

EU LEADERS SLAM 'BRUTAL' GAS BLOCKADE
Frustrated European Union leaders lashed out Wednesday at the
Russian and Ukrainian energy companies whose dispute over
natural gas has stopped supplies to Europe for the past week.

FARMERS: PESTICIDE BAN MEANS DEARER FOOD
Farmers have warned that the cost of food could rise after the
European Parliament voted to restrict the use of many pesticides
on crops.

Tech : Flextronics, Palm and AMD among decliners as sector tumbles

Date: Wed, 14 Jan 2009 18:00:11 -0500

Tech Stocks: Flextronics, Palm and AMD among decliners as sector tumbles
1/14/2009 4:13 PM ET
Most technology stocks sink sharply, including Flextronics, Palm Inc.
and AMD, as the broader market retreats on news of dismal retail sales
in December.

-----------------------------------------------------------------
Apple's Jobs to take medical leave of absence
1/14/2009 5:54 PM ET
Apple Inc. Chief Executive Steve Jobs says that because of his health
issues he will take a medical leave of absence from the company until
the end of June.

-----------------------------------------------------------------
Gartner says PC sales barely grew in fourth quarter
1/14/2009 5:42 PM ET
Although personal computer sales managed to increase in the fourth
quarter of 2008, the worldwide economic slowdown resulted in the
weakest year-over-year growth rates in six years, the technology
research firm Gartner Inc. says.

-----------------------------------------------------------------
Motorola to lay off another 4,000 workers, warns of loss
1/14/2009 5:12 PM ET
Motorola Corp. says that it expects to incur a loss in the fourth
quarter and will lay off an additional 4,000 workers in a continuing
effort to bring its costs under control.

-----------------------------------------------------------------
Xilinx reports 35% profit rise, but lower sales
1/14/2009 5:00 PM ET
Xilinx Inc. reports a 35% jump in net profit in its fiscal third
quarter, even as the chip maker's sales fell as the company reeled
from the overall market slump.
-----------------------------------------------------------------
Seagate to shed almost 3,000 jobs and will cut salaries
1/14/2009 4:07 PM ET
Seagate Technology said Wednesday it would cut about 6% of its
worldwide workforce and lower the salaries of its top officers by as
much as 25% as part of a restructuring plan by the world's top maker
of computer hard-disk drives.

-----------------------------------------------------------------
Flextronics' shares entangled in Nortel's bankruptcy
1/14/2009 4:06 PM ET
Nortel's Chapter 11 bankruptcy carries repercussions for electronics
contract manufacturer Flextronics, shares of which fall as much as
16%.

-----------------------------------------------------------------
Wall Street cheers new Yahoo CEO Carol Bartz
1/14/2009 3:46 PM ET
Yahoo Inc.'s move to name Carol Bartz as CEO largely draws praise from
Wall Street analysts, who hope the longtime Silicon Valley veteran can
revive the company's sagging fortunes.

-----------------------------------------------------------------
Oracle saddled with monument to tough times
1/14/2009 3:27 PM ET
A towering edifice acquired by Oracle last year when it bought BEA
Systems remains a hollow shell, underscoring both the current economic
crisis and this San Jose's unfulfilled desire for a corporate hub
befitting its self-appointed status as the "capital of Silicon
Valley."

-----------------------------------------------------------------
Nortel files for bankruptcy protection
1/14/2009 12:36 PM ET
Nortel, once the largest company in Canada, files for bankruptcy
protection, victimized by the deepening economic slump.

-----------------------------------------------------------------
Israel Stocks: Tel Aviv lower for third day; banks accused of collusion on fees
1/14/2009 9:38 AM ET
Israeli stocks fail to hold the line on hold early gains, trending
lower on weakness in the banking sector as well as in shares of Israel
Chemicals and selected technology issues.

-----------------------------------------------------------------
Satyam appoints KPMG and Deloitte as new auditors
1/14/2009 2:35 AM ET
Satyam Computer Services' new board appointed KPMG and Deloitte Touche
Tohmatsu as the company's auditors, replacing PricewaterhouseCoopers,
according to reports.

-----------------------------------------------------------------
Toshiba in talks to buy Fujitsu's hard-disk business
1/13/2009 10:46 PM ET
Japan's Toshiba Corp. is in the final stages of talks to buy Fujitsu's
hard-disk drive business for 30 to 40 billion yen ($333 to $444
million), according to a media report Wednesday.

-----------------------------------------------------------------
Rackable Systems cuts '08 view, and employees
1/13/2009 9:33 PM ET
Server and storage technology company Rackable Systems Inc. said late
Tuesday it has reduced its expectations for its financial results for
2008, helping send its shares nearly 10% lower in late trading.

Markets Wednesday, 01/14/2009

Date: Wed, 14 Jan 2009 17:31:03 -0500

MARKETS:
Another bad day for the Dow
Blue-chip measure down for 6th straight day as investors lament weak
retail sales and dismal banking news.

Apple's Jobs to take medical leave of absence

Date: Wed, 14 Jan 2009 17:01:24 -0500

Apple's Jobs to take medical leave of absence

Apple Inc. Chief Executive Steve Jobs says that because of his health
issues he will take a medical leave of absence from the company until
the end of June.

MARKET SNAPSHOT: ENERGY SHARES SEND U.S. STOCKS TO DECEMBER LOWS

Energy and financial shares pace a broad market slide after downbeat
December retail sales offer the latest confirmation of a deepening
recession.

CAPITOL REPORT: FAULT LINES EMERGE AT FED

Key fault lines are emerging at the Federal Reserve over the central
bank's journey into uncharted monetary policy.

AFTER BROKERAGE DEAL, CITI MAY REDUCE ITS SIZE BY ONE-THIRD

Following a blockbuster brokerage deal with Morgan Stanley,
Citigroup's set to unveil a sweeping plan to unload several businesses
and reduce its size by one-third -- moves that essentially sound a
death knell for its financial-services supermarket model, according to
a published

ECONOMIC REPORT: U.S. RETAIL SALES PLUNGE 2.7% IN DECEMBER

Weak demand and falling prices give rise to a worse-than-projected
2.7% drop in U.S. seasonally adjusted retail sales for December,
Commerce Department data show.

Apple shares tumble nearly 10% in resumed after-hours trading on news of CEO Jobs' medical leave.

Date: Wed, 14 Jan 2009 17:03:03 -0500

Apple shares tumble nearly 10% in resumed after-hours trading on news
of CEO Jobs' medical leave.

Breaking News

Date: Wed, 14 Jan 2009 13:50:00 -0800 (PST)

Apple CEO Steve Jobs takes leave until end of June; Jobs says health
issues "more complex than I originally thought."

Dow hits a new low for the day, dropping 307 points, as a wave of fear hits investors.

Date: Wed, 14 Jan 2009 15:45:06 -0500

Dow hits a new low for the day, dropping 307 points, as a wave of fear
hits investors.

Economy weakend across nearly all regions in past 6 weeks, Fed says. Commercial real estate deteriorated; total lending declined.

Date: Wed, 14 Jan 2009 14:08:03 -0500

Economy weakend across nearly all regions in past 6 weeks, Fed says.
Commercial real estate deteriorated; total lending declined.

No signs of upturn through early January: Fed Beige Book

Date: Wed, 14 Jan 2009 14:03:34 -0500

No signs of upturn through early January: Fed Beige Book
1/14/2009 2:01:35 PM EDT

Bank woes pull financials down; Citi shares under $5

Date: Wed, 14 Jan 2009 12:01:11 -0500
Bank woes pull financials down; Citi shares under $5

banks and uncertainty over the future of Citigroup Inc. roiled the sector.

ECONOMIC REPORT: U.S. RETAIL SALES PLUNGE 2.7% IN DECEMBER

Weak demand and falling prices give rise to a worse-than-projected
2.7% drop in U.S. seasonally adjusted retail sales for December,
Commerce Department data show.

TIFFANY CUTS FORECAST, POSTS 21% DECLINE IN HOLIDAY SALES

Citing the familiar refrain of a deteriorating global economy and
cautious consumer spending, Tiffany & Co. posted a 21% decline in
holiday sales and again cut its full-year forecast range.

BOND REPORT: TREASURY YIELDS FALL TO LOWEST LEVEL OF 2009

Treasury prices rose, pushing yields to the lowest this year, after a
government report said retail sales dropped 2.7% in December, far more
than expected.

REFINANCE APPLICATIONS HIGHEST IN MBA'S SURVEY

The rush among homeowners to take advantage of lower interest rates
shows no sign of abating, judging from the latest survey data compiled
by the Mortgage Bankers Association.

Selling accelerates on Wall Street with the Dow plunging more than 300 points as grim retail sales sap investor confidence.

Date: Wed, 14 Jan 2009 10:47:22 -0500

Selling accelerates on Wall Street with the Dow plunging more than 300
points as grim retail sales sap investor confidence.

Deutsche Bank warns of fourth-quarter loss of over $6 billion

Date: Wed, 14 Jan 2009 05:15:22 -0500

Deutsche Bank warns of fourth-quarter loss of over $6 billion
1/14/2009 5:13:36 AM EDT

International

Date: Wed, 14 Jan 2009 05:02:03 -0500
TOP STORIES as of 1000 GMT -- 14 January, 2009

ROCKETS FALL ON ISRAEL, GAZA FIGHTING CONTINUES
Three rockets fell on Israel from Lebanon for the second time in
a week, striking open fields, Israeli police said Wednesday.
Meanwhile, sporadic fighting continued as Israeli troops pushed
into Gaza City and international efforts to end the conflict
ramped up.

PENTAGON: EX-GITMO DETAINEES RESUME TERROR
Dozens of suspected terrorists released by the United States
from Guantanamo Bay, Cuba, are believed to have returned to
terrorism activities, according to the Pentagon.

BUSH: TERROR THREAT IS OBAMA'S PRIORITY
The commander in chief's priority is preventing another
terrorist attack in the United States, President Bush told CNN's
"Larry King Live" Tuesday.

BUSH AWARDS MEDALS TO WARTIME ALLIES
Three former wartime allies were reunited at the White House for
one last time when President George W. Bush awarded America's
top civilian honor to the former prime ministers of Britain and
Australia.

PIRATES RELEASE TWO SHIPS OFF EAST AFRICA
Somalia-based pirates on Tuesday released a Turkish-flagged ship
carrying 4,500 tons of chemicals that was seized two months ago
off Yemen's coast, the International Maritime Bureau said.

BARCLAYS CONFIRMS WORLDWIDE JOB CUTS
Barclays is believed to be cutting about 2,100 jobs worldwide in
investment banking and money management as it slashes costs to
cope with the fall-out from the credit crisis.

SPANISH COURT OPENS 'JESUIT MASSACRE' CASE
Spain's National Court opened an official investigation into 14
former military officers in El Salvador accused of killing six
priests, their housekeeper and her daughter in November 1989.

---------------------------------------------
BUSINESS

GEITHNER QUESTIONED ON TAXES, HOUSEKEEPER
Members of the U.S. Senate Finance Committee met with treasury
secretary nominee Tim Geithner over concerns involving his
personal taxes and the immigration status of a former
housekeeper, transition officials said.

ACCUSATIONS REIGNITE EUROPE'S GAS ROW
A deal to resume gas supplies to Europe appeared to break down
on Tuesday after Russian state energy giant Gazprom said Ukraine
was blocking onward transit.

Nortel Networks to file for bankruptcy protection: reports

Date: Wed, 14 Jan 2009 08:57:35 -0500

Nortel Networks to file for bankruptcy protection: reports
1/14/2009 8:55:48 AM EDT

Dow plummets more than 200 points as selling accelerates following dismal retail sales reports.

Date: Wed, 14 Jan 2009 10:17:08 -0500

Dow plummets more than 200 points as selling accelerates following
dismal retail sales reports.

Holiday sales tumbled 2.8% - worse than expected - according to retail trade group.

Date: Wed, 14 Jan 2009 10:11:04 -0500

Holiday sales tumbled 2.8% - worse than expected - according to retail
trade group.

Dow industrials fall 160 points; Citi is worst performer, off 15%

Date: Wed, 14 Jan 2009 09:47:11 -0500

Dow industrials fall 160 points; Citi is worst performer, off 15%
1/14/2009 9:44:53 AM EDT

International

Date: Tue, 13 Jan 2009 20:02:07 -0500
TOP STORIES as of 0900 HKT -- 14 January, 2009

GAZA DIPLOMACY EFFORTS RAMPED UP
Israeli tanks penetrated into Gaza City early Tuesday despite
calls by U.N. chief Ban Ki-moon urging both sides in the
increasingly deadly conflict to halt hostilities. Israel's
military reported clashes between its troops and Hamas fighters
and said at least 30 Palestinian combatants were killed or
wounded.

IRAQ QUESTIONS OBAMA'S 'SILENCE' ON GAZA
One of Iraq's two vice presidents raised concerns over
President-elect Barack Obama's "silence" on Gaza during a
meeting with U.S. Vice President-elect Joe Biden on Tuesday.

CLINTON: IRAQ TROOP WITHDRAWAL 'TOP PRIORITY'
Sen. Hillary Clinton today pledged to help end the war in Iraq
by safely withdrawing American troops. Clinton told a Senate
panel considering her nomination as secretary of state that, if
she is confirmed, the State Department would "be firing on all
cylinders."

AUTHORS SEE PATTERN IN PRINCE HARRY'S MISTAKES
Prince Harry, the red-headed younger son of Britain's Prince
Charles and the late Diana, Princess of Wales, is back in the
headlines after a British tabloid posted a home video of him
using an offensive term to describe an Army colleague.

EUROPE GAS FLOW BLOCKED AT UKRAINE BORDER
A deal to resume gas supplies to Europe appeared to break down
on Tuesday after Russian state energy giant Gazprom said Ukraine
was blocking onward transit.

ETHIOPIAN TROOPS BEGIN SOMALI WITHDRAWAL
Ethiopian forces propping up Somalia's transitional government
have begun their withdrawal from the country, pulling out of two
key bases in Mogadishu, eyewitnesses and officials said Tuesday.
---------------------------------------
BUSINESS

BERNANKE: MORE BANK BAILOUTS NEEDED
U.S. Federal Reserve Chairman Ben Bernanke says President-elect
Barack Obama's proposed fiscal stimulus package could help the
economy, but more bailouts of financial institutions may also be
needed to bring about a sustained recovery.

PROTESTERS BUY UP LAND FOR HEATHROW RUNWAY
Environmental campaigners say they have dealt a blow to the
proposed expansion of London's Heathrow Airport by buying up
land earmarked for the construction of a controversial third
runway.

EUROPE MARKETS FOLLOW ASIAN SLIDE
Tokyo's Nikkei tumbled nearly 5 percent Tuesday after new
government figures showed a dramatic decline in Japan's
international trade amid a global financial slowdown and slow
demand for Japanese goods.

News Alert!

Date: Tue, 13 Jan 2009 14:34:55 -0800 (PST)

Man accused of threatening to kill Bush, blow up White House
01/13/09 04:39 PM, EST
Federal authorities have charged a Louisiana man with threatening to
kill President Bush.

Tech: Sector ekes out small gain in volatile trading session

Date: Tue, 13 Jan 2009 18:00:11 -0500

Tech Stocks: Sector ekes out small gain in volatile trading session
1/13/2009 4:18 PM ET
Most technology stocks eke out a small gain after a volatile trading session.

-----------------------------------------------------------------
Yahoo taps tech veteran Bartz as new CEO; Decker to resign
1/13/2009 5:29 PM ET
Yahoo names respected Silicon Valley veteran Carol Bartz to replace
co-founder Jerry Yang as its new chief executive, as the embattled
Internet company struggles to mount a turnaround in a deteriorating
economy.

-----------------------------------------------------------------
Ex-Yahoo executive Rosensweig joins Adobe board
1/13/2009 5:14 PM ET
Dan Rosensweig, a former Yahoo Inc. executive who left the troubled
Internet company as it began an unstable period of management turnover
and a declining stock price, will join the board of directors at Adobe
Systems Inc.

-----------------------------------------------------------------
Nvidia lowers sales outlook on chip-industry woes
1/13/2009 4:20 PM ET
Nvidia Corp. lowers its fourth-quarter sales outlook, projecting a
much bigger drop in revenue as the graphics chip maker reels from an
industry-wide demand slump.

-----------------------------------------------------------------
Lexmark International stock drops on lowered earnings view
1/13/2009 4:02 PM ET
The maker of printing and imaging equipment lowers its quarterly
earnings forecast and moves to trim nearly 400 jobs due to the effects
of a deteriorating global economy.

-----------------------------------------------------------------
Obama's tech adviser Genachowski in line to run FCC
1/13/2009 1:52 PM ET
President-elect Barack Obama has reportedly picked Julius Genachowski,
a longtime friend and top adviser, to lead the Federal Communications
Commission.

-----------------------------------------------------------------
Israel Stocks: Market lower; Israel Chemicals in focus; Barclays initiates 7
1/13/2009 9:37 AM ET
Israeli stocks fall for a second day on Tuesday, with weakness in
Israel Chemicals and selected technology issues leading the way.

-----------------------------------------------------------------
Sony's ails point to deeper Japan malaise
1/13/2009 3:35 AM ET
Japanese consumer electronics companies face mounting headwinds this
year, with analysts forecasting few chances of an earnings turnaround
anytime soon as debt-laden consumers in their chief export markets
tighten spending as the recession deepens.

-----------------------------------------------------------------
Satyam ex-CFO blames Raju, auditors for scandal
1/13/2009 1:20 AM ET
The chief financial officer of India's Satyam Computer Services has
blamed the former chairman, B. Ramalinga Raju, and internal and
external auditors fof
financial fraud at the company, according to a media report.

Markets Tuesday, 01/13/2009

Date: Tue, 13 Jan 2009 17:31:04 -0500

MARKETS:
Stocks seesaw on earnings woes
Wall Street struggles after previous day's selloff as investors
consider corporate reports, Bernanke speech.

Yahoo said to be tapping tech veteran Bartz as new CEO

Date: Tue, 13 Jan 2009 17:02:04 -0500

Yahoo said to be tapping tech veteran Bartz as new CEO

Yahoo is expected to name respected Silicon Valley veteran Carol Bartz
to replace co-founder Jerry Yang as its new chief executive, according
to a

THE RATINGS GAME: MONEY MANAGERS BRACE FOR WHAT PROMISE TO BE BRUTAL RESULTS

With their fourth-quarter financial results, asset-management firms
will likely turn a spotlight on some of the worst-ever numbers
reported by the sector, as. borne out by falling asset values,
investor redemptions and declining margins, according to analysts.

THE FED: BERNANKE SAYS NO RECOVERY WITHOUT MORE BANK AID

There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery
"highly uncertain," Federal Reserve chief Ben Bernanke tells a
London audience.

ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES

The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.

Yahoo said to be tapping tech veteran Bartz as new CEO

Date: Tue, 13 Jan 2009 17:02:04 -0500

Yahoo said to be tapping tech veteran Bartz as new CEO

Yahoo is expected to name respected Silicon Valley veteran Carol Bartz
to replace co-founder Jerry Yang as its new chief executive, according
to a

THE RATINGS GAME: MONEY MANAGERS BRACE FOR WHAT PROMISE TO BE BRUTAL RESULTS

With their fourth-quarter financial results, asset-management firms
will likely turn a spotlight on some of the worst-ever numbers
reported by the sector, as. borne out by falling asset values,
investor redemptions and declining margins, according to analysts.

THE FED: BERNANKE SAYS NO RECOVERY WITHOUT MORE BANK AID

There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery
"highly uncertain," Federal Reserve chief Ben Bernanke tells a
London audience.

ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES

The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.

Dow closes down 33 points, struggling after Monday's selloff, as investors consider earnings reports, Bernanke speech.

Date: Tue, 13 Jan 2009 16:01:06 -0500

Dow closes down 33 points, struggling after Monday's selloff, as
investors consider earnings reports, Bernanke speech.

Citigroup to unveil major restructuring plan: Wall Street Journal

Date: Tue, 13 Jan 2009 15:03:24 -0500

Citigroup to unveil major restructuring plan: Wall Street Journal
3:01:17 PM EDT

Federal budget deficit in first fiscal quarter is $485.2 billion, government says - more than all of last year.

Date: Tue, Jan 13, 2009 at 2:05 PM

Federal budget deficit in first fiscal quarter is $485.2 billion,
government says - more than all of last year.

Oil settled down 19 cents to $37.78 a barrel, after Saudi Arabia's oil minister said that the kingdom plans to cut output.

Date: Tue, Jan 13, 2009 at 2:50 PM

Oil settled down 19 cents to $37.78 a barrel, after Saudi Arabia's oil
minister said that the kingdom plans to cut output.

Yahoo to name former Autodesk boss Carol Bartz as CEO: Wall Street Journal

Date: Tue, 13 Jan 2009 12:56:32 -0500

Yahoo to name former Autodesk boss Carol Bartz as CEO: Wall Street Journal
1/13/2009 12:54:38 PM EDT

News Alert!

Date: Tue, 13 Jan 2009 09:08:28 -0800 (PST)

Missing pilot fled on motorcycle, authorities say
01/13/09 11:16 AM, EST
An Indiana financial manager who apparently tried to fake his death by
crashing his airplane left on a motorcycle he had stashed in his
parachute landing zone, authorities said Tuesday.

Cholera deaths near 2,000 in Zimbabwe
01/13/09 10:25 AM, EST
Deaths in Zimbabwe related to the cholera epidemic are approaching
2,000, the World Health Organization said Tuesday, and close to 40,000
people have been affected by the preventable water-borne disease.

The world's finest airports
01/13/09 10:23 AM, EST
Identifying the world's finest airports is easy. Hong Kong
International Airport, Singapore's Changi and Seoul's Incheon have
topped the ranks of airport awards for the last decade.

Obama to make case on bailout, rally support for recovery plan
01/13/09 09:26 AM, EST
President-elect Barack Obama will go to Capitol Hill on Tuesday to
meet with Senate Democrats and make his case for how he wants to spend
the second half of the $700 billion bailout, two Democratic sources
said.

Australian dog food pulled from Chinese stores in health scare
01/13/09 08:27 AM, EST
A brand of imported pet food is being pulled off store shelves in
China after reports of dogs being sickened by it, a company official
said Tuesday.

Protesters buy up land for Heathrow runway
01/13/09 07:38 AM, EST
Environmental campaigners say they have dealt a blow to the proposed
expansion of London's Heathrow Airport by buying up land earmarked for
the construction of a controversial third runway.

Bernanke says no recovery without more bank aid

Date: Tue, 13 Jan 2009 12:01:57 -0500

Bernanke says no recovery without more bank aid

There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery. "highly uncertain," Federal Reserve chief Ben
Bernanke tells a London audience.

ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES

The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.

SONY SEEN REPORTING FIRST OPERATING LOSS IN 14 YEARS

Japanese electronics major Sony Corp. is expected to report its first
operating loss in 14 years as demand for flat-screen televisions and
other consumer products sags and profit margins are pared by a strong
yen, according to a media report Tuesday.

FACING MORE LOSSES, ALCOA'S COST CUTS MAY DEEPEN

Alcoa's wider-than-expected loss could be the start of a series of
quarters in the red for the aluminum giant as it faces the prospect of
cutting costs further to conserve cash, analysts say. At risk is the
blue chip's dividend.

ELAN RALLIES AS IRISH DRUGMAKER PLANS REVIEW

Shares of Elan rally as much as 17% in Dublin as the Irish drugmaker
puts itself on the block following the troubles surrounding key
multiple sclerosis and Alzheimer's drugs.

Timing of U.S. economic recovery remains 'highly uncertain,' Fed's Bernanke says

Date: Tue, 13 Jan 2009 08:04:59 -0500

Timing of U.S. economic recovery remains 'highly uncertain,' Fed's Bernanke says
1/13/2009 8:03:10 AM EDT

News Alert!

Date: Mon, 12 Jan 2009 22:15:16 -0800 (PST)

Official: Clinton to push U.S. leadership renewal
01/12/09 10:25 PM, EST
Hillary Clinton will tell Senate members Tuesday that her goals as
secretary of state, if she is confirmed, will include a renewal of
American leadership, a official with President-elect Obama's
transition team said.

Safety council urges ban on cell-phone use while driving
01/12/09 09:34 PM, EST
The National Safety Council called Monday for a nationwide ban on
cell-phone use while driving, a prohibition opposed by the industry.

Minnesota case may offer clue to U.S. salmonella outbreak
01/12/09 08:18 PM, EST
Federal and state health officials said Monday that salmonella linked
last week in Minnesota to King Nut peanut butter was caused by the
same strain of bacteria responsible for an ongoing outbreak of 410
salmonella cases in 43 states.

Group accuses Israel of firing white phosphorus into Gaza
01/12/09 07:34 PM, EST
The international group Human Rights Watch is accusing Israel of
firing weapons containing white phosphorus into Gaza. The group
demands that the alleged practice cease.

Biden meets with Iraqi leader in Baghdad
01/12/09 10:09 AM, EST
Vice President-elect Joe Biden on Monday met with Iraqi President
Jalal Talabani in Baghdad, the president's office confirmed.

Energy: Gazprom says Ukraine is blocking gas supplies to Europe

Date: 13 JAN 2009 14:56:46 GMT

Russia's gas giant Gazprom says Tuesday that Ukraine is blocking
Russian gas supplies to the rest of Europe by keeping a transit
pipeline closed, throwing into doubt a deal to resolve the energy
dispute that has cut off gas to Europe at a time of freezing winter
temperatures.

Energy: Energy stocks perk up despite lower crude prices

Date: 13 JAN 2009 15:08:38 GMT

Hard-hit petroleum stocks stage a mild recovery in early action on
Tuesday, as a favorable court ruling for Anadarko Petroleum and a
production boost from Marathon Oil encourage buying.

Trade deficit fell to $40.4B in November, the government says. Imports plummeted 12%, driven down by huge drop in oil prices.

Date: Tue, 13 Jan 2009 08:34:03 -0500

Trade deficit fell to $40.4B in November, the government says. Imports
plummeted 12%, driven down by huge drop in oil prices.

International

Date: Tue, 13 Jan 2009 05:01:12 -0500
TOP STORIES as of 1000 GMT -- 13 January, 2009

HAMAS DEFIANT, ISRAEL TIGHTENS GRIP
The rumble of artillery fire and the roar of ensuing explosions
continued to roll through Gaza early Tuesday despite
pronouncements by an Israeli official earlier that the military
operation may be in its final days.

ISRAEL ACCUSED OF USING WHITE PHOSPHORUS
The international group Human Rights Watch is accusing Israel of
firing weapons containing white phosphorus into Gaza. The group
demands that the alleged practice cease.

RUSSIA RESTARTS EUROPE'S GAS SUPPLY
Russia has started pumping natural gas to Europe again through
Ukrainian pipelines, a week after the gas flow was interrupted.

SOURCES: OBAMA TO CLOSE GUANTANAMO QUICKLY
U.S. President-elect Barack Obama plans to close the U.S.
military prison at Guantanamo Bay as early as his first week in
office to show a break from the Bush administration's approach
to the war on terror, two officials close to the transition have
said.

JAPAN'S CURRENT ACCOUNT SURPLUS DIVES
Japan's current account surplus, a leading gauge of
international trade, dropped 66 percent in November from the
year before, a sharp decline reflecting the global economic
slump, the government announced Tuesday.

TOKYO'S NIKKEI SLUMPS NEARLY 5 PERCENT
Tokyo's Nikkei tumbled nearly 5 percent Tuesday after new
government figures showed a dramatic decline in Japan's
international trade amid a global financial slowdown and slow
demand for Japanese goods.

ASSETS FROZEN OF MAN ACCUSED OF FAKING DEATH
An Indiana judge Monday froze the assets of Marcus Schrenker, a
suburban Indianapolis financial manager authorities say tried to
fake his own death by crashing his private plane into a Florida
swamp.
---------------------------------------------------
BUSINESS

OBAMA: GIVE ME THE MONEY
U.S. President-elect Barack Obama made his case to Congress for
the release of $350 billion in remaining federal bailout funds,
as lawmakers voice objections to how the first $350 billion was
used.

ALITALIA LANDS INTERNATIONAL PARTNER
The board of ailing Alitalia airline says it has accepted an
offer from Air France-KLM to buy 25 percent of the company and
become its international partner.

Stocks open lower as investors remain jittery following comments by Bernanke suggesting further bailouts may be needed.

Date: Tue, 13 Jan 2009 09:32:18 -0500

Stocks open lower as investors remain jittery following comments by
Bernanke suggesting further bailouts may be needed.

International

Date: Mon, 12 Jan 2009 20:01:07 -0500
TOP STORIES as of 0900 HKT -- 13 January, 2009

SOURCES: OBAMA TO CLOSE GUANTANAMO QUICKLY
U.S. President-elect Barack Obama plans to close the U.S.
military prison at Guantanamo Bay as early as his first week in
office to show a break from the Bush administration's approach
to the war on terror, two officials close to the transition have
said.

HAMAS LEADER DELIVERS DEFIANT SPEECH
Hamas leader Ismail Haniya delivered a defiant speech Monday,
promising that the current conflict with Israel will deliver "a
new future" to the people of Gaza. About 900 people in Gaza have
died and around 3,600 suffered injuries since an Israeli
offensive began last month.

ISRAEL ACCUSED OF USING WHITE PHOSPHORUS
The international group Human Rights Watch is accusing Israel of
firing weapons containing white phosphorus into Gaza. The group
demands that the alleged practice cease.

BUSH ADMITS 'MISSION ACCOMPLISHED' A MISTAKE
President George W. Bush admitted mistakes but defended his
accomplishments in the final White House news conference of his
presidency. Talking about how the fall of Baghdad was handled,
he said: "Clearly, putting a 'Mission Accomplished' [banner] on
an aircraft carrier was a mistake. It sent the wrong message."

U.S. VISITORS FACE TIGHTER ENTRY RULES
Travelers visiting the United States under the Visa Waiver
Program (VWP) risk being detained at airports and sent home if
they don't comply with new U.S. immigration rules. Visitors from
27 VWP countries -- including most of Western Europe, New
Zealand, Japan and Australia -- must now register their details
online at least three days before departure.

ALITALIA LANDS INTERNATIONAL PARTNER
The board of ailing Alitalia airline has accepted an offer from
Air France-KLM to buy 25 percent of the company and become its
international partner, Alitalia announced Monday evening.

U.S. SENATE REPUBLICANS BRACE FOR OMINOUS 2010
The 111th Congress has just barely begun as Senate Republicans
brace for more grueling elections in 2010 which threaten to
further weaken Republicans in Congress.

INDONESIA FERRY DISASTER LEAVES 246 MISSING
Rescue crews continued their search for 246 people still missing
on Monday, a day after their ferry capsized off the coast of
Indonesia.
-----------------------------------
BUSINESS

RUSSIA TO RESTORE GAS SUPPLY TO EUROPE
Russia will start pumping natural gas to Europe again after an
interruption of nearly a week, energy giant Gazprom's deputy CEO
Alexander Medvedev has said. The announcement came after Moscow signed
an agreement to end a bitter dispute with Ukraine.

MERKEL SEEKS $67B ECONOMIC STIMULUS
German Chancellor Angela Merkel's ruling CDU party has proposed
a $67 billion (€50 billion) fiscal stimulus package of
investment and tax cuts aimed at helping the German economy
through the recession.

60 ARRESTED OVER CHINA TAINTED MILK SCANDAL
Chinese authorities have arrested 60 people in connection with
the country's tainted milk scandal that killed six infants and
sickened nearly 300,000 more : a provincial official said

Tech: Seagate leads tech shares lower

Date: Mon, 12 Jan 2009 18:00:09 -0500

Tech Stocks: Seagate leads tech shares lower
1/12/2009 4:27 PM ET
Seagate Technology paces the downdraft after the maker of data-storage
devices says that its chairman will step in to take the reins from its
chief executive,who is leaving the company.

-----------------------------------------------------------------
CBS forges re-transmission deal with Verizon
1/12/2009 4:39 PM ET
CBS reaches a new deal with Verizon to bring CBS programs like "60
Minutes" to Verizon's wireless customers and expand the telephone
company's rights to carry the network's shows over its FiOS
fiber-optic television service.

-----------------------------------------------------------------
Citigroup upgrades Palm on Pre's promise
1/12/2009 4:23 PM ET
Shares of Palm Inc. gain on a Citigroup upgrade to hold following the
tech company's recent introduction of its new Pre smart phone and the
potential it offers as a "game changer."

-----------------------------------------------------------------
Seagate chairman to take on CEO role from Watkins
1/12/2009 4:07 PM ET
Shares plunge more than 17% after the No. 1 maker of computer
hard-disk drives shakes up its executive ranks by replacing Chief
Executive William Watkins with the company's chairman, Stephen Luczo.

-----------------------------------------------------------------
The Stockpickers: Wasatch fund manager plays defense with stocks, cash
1/12/2009 4:06 PM ET
"Go anywhere" mutual funds have a certain appeal. Independent-minded
managers get to think outside the box and aren't locked into a
specific type of stock or sector.

-----------------------------------------------------------------
Telecom Stocks: Qwest, Sprint, Ericsson tack lower
1/12/2009 2:09 PM ET
Most telecommunications stocks retreated in Monday
action in tandem with the broader U.S. market. Among the sharpest
decliners were Qwest Communications International Inc., Sprint Nextel
Corp. and Ericsson.

-----------------------------------------------------------------
Many more companies slashed earnings outlooks as economy cratered
1/12/2009 1:16 PM ET
A global economy in tatters, massive U.S. job losses and a plunge in
commodity prices have combined to spark an unusually high rate of
warnings about corporations' fourth-quarter earnings, data show.

-----------------------------------------------------------------
Satyam soars in India as new board members appointed
1/12/2009 1:01 PM ET
Shares of Satyam Computer Services stage a sharp recovery Monday in
Mumbai after their recent crash, as the government's decision to
appoint new members to its board raises hopes the software major may
be rescued after India's biggest corporate fraud came to light at the
company last week.

Markets Monday, 01/12/2009

Date: Mon, 12 Jan 2009 17:31:03 -0500

MARKETS:
Wall Street in sharp retreat
Stocks slide as investors gear up for the start of the corporate
reporting period. Citigroup tumbles on a possible Morgan deal.

U.S. stocks finish at 2009 lows amid earnings jitters

Date: Mon, 12 Jan 2009 17:01:46 -0500

U.S. stocks finish at 2009 lows amid earnings jitters

U.S. stocks sink to their lowest levels so far this year, with financials
hammered the hardest. Investors appeared leery of what is likely to be
an especially grim earnings season.

CITIGROUP MAY BE BROKEN UP, UNDER GOVERNMENT INFLUENCE

Some private investors have been calling for Citigroup to break itself
up for years. Now, according to analysts, the government may be doing
the job.

CRUDE SUPER CONTANGO PUTS MORE OIL IN STORAGE, SIGNALS PRICE RISE

A record amount of crude oil has been put into storage as investors
and producers wait for oil prices to rise in the following months, in
the hope that they can sell their oil at dearer prices.

MANY MORE COMPANIES SLASHED EARNINGS OUTLOOKS AS ECONOMY CRATERED

A global economy in tatters, massive U.S. job losses and a plunge in
commodity prices have combined to spark an unusually high rate of
warnings about corporations' fourth-quarter earnings, data show.
BUSH LOOKS BACK DURING FINAL PRESS CONFERENCE

President Bush defends his record and names what he thinks are some of
the achievements and mistakes of his presidency during his final press
conference, taking a look back over eight years of an administration
marked by the Sept. 11, 2001, attacks, a recession and Hurricane
Katrina.

Alcoa quarterly loss tops $1 billion on metals slump, restructuring costs

Date: Mon, 12 Jan 2009 16:14:51 -0500

Alcoa quarterly loss tops $1 billion on metals slump, restructuring costs
1/12/2009 4:12:38 PM EDT

Breaking News

Date: Mon, 12 Jan 2009 13:18:13 -0800 (PST)

Roland Burris is expected to take Barack Obama's U.S. Senate seat this
week, Democratic Senate leaders say.

U.S. stocks dragged lower by financial and energy shares; oil slides 8%

Date: Mon, 12 Jan 2009 16:03:51 -0500

U.S. stocks dragged lower by financial and energy shares; oil slides 8%
1/12/2009 4:02:07 PM EDT

Stocks tumbled Monday amid concerns about 4th quarter results; Dow down 126, Nasdaq and S&P lose more than 2%.

Date: Mon, 12 Jan 2009 16:01:06 -0500

Stocks tumbled Monday amid concerns about 4th quarter results; Dow
down 126, Nasdaq and S&P lose more than 2%.

Oil settles down nearly 8% to $37.59 a barrel on global economic concerns.

Date: Mon, 12 Jan 2009 15:03:02 -0500

Oil settles down nearly 8% to $37.59 a barrel on global economic concerns.

Judge declines to revoke bail for accused swindler Bernard Madoff, but imposes new restrictions on his home detention.

Date: Mon, Jan 12, 2009 at 12:16 PM

Judge declines to revoke bail for accused swindler Bernard Madoff, but
imposes new restrictions on his home detention.

Paced by major oils, shares in Europe resume recent pullback

Date: Mon, 12 Jan 2009 12:03:10 -0500
Paced by major oils, shares in Europe resume recent pullback

European shares decline for a fourth straight session on Monday, as
worries over the world economy send shares of oil-sector companies
lower. Financials trade mixed.

HONG KONG, MUMBAI DRAG ON REGIONAL MARKETS

Asian shares were mostly a little lower Monday as investors looked for
Alcoa Inc. to kick off an expected rough earnings season later in the
U.S., with resource and airline stocks the main decliners.

ECONOMIC PREVIEW: AMERICAN CONSUMERS CRUSHED BY JOB LOSSES

With almost 2.6 million job losses last year, American consumers, once
seen as unflappable, have been pulling back.

President-elect Obama has formally asked President Bush to request the remaining $350 billion in bailout funding, White House says.

Date: Mon, 12 Jan 2009 11:38:03 -0500

President-elect Obama has formally asked President Bush to request the
remaining $350 billion in bailout funding, White House says.

News Alert!

Date: Sun, 11 Jan 2009 21:39:04 -0800 (PST)

Militia kills ranger in Congo national park
01/11/09 04:57 PM, EST
A militia killed a ranger in a Democratic Republic of Congo park where
authorities are trying to protect endangered gorillas threatened by
civil war, the park said.

Obama administration job-seekers face tough odds
01/11/09 04:51 PM, EST
When George W. Bush became president eight years ago, about 90,000
people applied for jobs in his administration. That's about a quarter,
however, of the people who are looking for a way into President-elect
Barack Obama's administration.

Obama: 'Much more determined' to break Mideast deadlock
01/11/09 01:38 PM, EST
President-elect Barack Obama said Sunday the suffering on both sides
of Gaza's borders has led him to ramp up his commitment to working for
a peace deal in the Middle East.

Zimbabwe opposition: Help us find abducted members
01/11/09 01:01 PM, EST
Zimbabwe's main opposition party has asked organizations such as the
United Nations to help find 11 supporters who were allegedly abducted
by government agents, a party spokesman said.

International

Date: Mon, 12 Jan 2009 05:01:04 -0500
TOP STORIES as of 1000 GMT -- 12 January, 2009

ISRAEL HALTS ATTACKS TO LET RELIEF SUPPLIES INTO GAZA
For a fifth day, the Israeli military broke off its assault on
Gaza for three hours to allow residents to pick up humanitarian
supplies, a Defense Ministry spokesman said Monday. Nearly 900
people in Gaza and 13 Israelis have died since the conflict
began on December 27.

HOPES RISE FOR RUSSIA-UKRAINE GAS DEAL
Hope were rising Monday that Europe's natural gas supplies could
return to normal after Russia's Gazprom said Ukraine had
re-signed a deal on monitoring deliveries through its
territories.

AUSTRALIAN TROOPS KILL TALIBAN COMMANDER
Australian commandos have killed a Taliban chief blamed for
numerous attacks on coalition troops in southern Afghanistan,
including one that killed an Australian soldier last week, the
country's defense ministry announced.

INDONESIA FERRY DISASTER LEAVES 246 MISSING
Rescue crews continued their search for 246 people still missing
on Monday, a day after their ferry capsized off the coast of
Indonesia.

SATYAM STOCK SURGES ON NEW LEADERSHIP
Stocks of Satyam Computer Services Ltd., the Hyderabad-based
company at the center of a massive corporate fraud case, surged
Monday on news the new government-appointed board will pick a
new chief operating officer.

NIGERIA MILITANTS RELEASE PHOTOS OF HOSTAGES
A Nigerian militant group released pictures Sunday of two
Britons identified as captive oil workers, saying the men were
"alive and well" and that more such Western workers would be
taken hostage if the country does not stop exporting its oil
wealth.

CHINA'S TAINTED MILK ARRESTS REACH 60
Chinese authorities have arrested 60 people in connection with
the country's tainted milk scandal that killed six infants and
sickened nearly 300,000 more, state media reported.

REPORTS: SERBS HANG MLADIC WANTED POSTERS
Serbian authorities have put up wanted posters for war crimes
suspect Ratko Mladic at police stations across the country in
their search for the highest-ranking figure from the
Bosnia-Herzegovina conflict to remain at large, according to
Serbian media reports.
----------------------------------

BUSINESS

RUSSIA BACKS OFF DEAL WITH UKRAINE
Just as millions of Europeans struggling through cold winter
temperatures thought a resolution had been reached in the
Russia-Ukraine natural gas standoff, Russia said it will not
proceed on a deal.

OBAMA TEAM, DEMS TALK BAILOUT
U.S. Senate Democrats who met with members of President-elect
Barack Obama's economic team were optimistic about plans to
spend the remaining $350 billion in Troubled Asset Relief
Program funds. Lawmakers have expressed unhappiness with the way
Treasury made few strings attached to the $350 billion allocated
to banks so far and the lack of tracking mechanism.

LLOYDS TSB IN U.S. SANCTIONS BREACH
British bank Lloyds TSB agrees to pay a $350 million penalty to
the U.S. authorities for illegal financial transfers that
violated sanctions.

Energy: E.U. says Russia has promised to resume gas supplies on Tuesday

Date: 12 JAN 2009 15:01:05 GMT

The Czech presidency of the European Union says that Russia has
promised to restart gas supplies to Europe via Ukraine starting
Tuesday morning after a deal was signed on monitoring the transit
route for Russian gas.

Energy: Petroleum stocks sag with oil prices

Date: 12 JAN 2009 15:07:50 GMT

Energy stocks retreat, as crude futures move closer to their Dec. 19
low of $32.40 a barrel.

Stocks open mixed as investors continue to worry about the economy and await quarterly results.

Date: Mon, 12 Jan 2009 09:32:09 -0500

Stocks open mixed as investors continue to worry about the economy and
await quarterly results.

International

Date: Sun, 11 Jan 2009 20:02:07 -0500
TOP STORIES as of 0900 HKT -- 12 January, 2009

ISRAEL CALLS FOR PATIENCE AS DEATH TOLL NEARS 900
Israeli aircraft and troops are continuing their assault on
Gaza, despite an Israeli official's assessment that the
two-week-old operation may be in its final days.
Eight-hundred-ninety-eight people have been killed and 3,695
injured in Gaza since the start of fighting, Palestinian medical
sources said.

REPORT: U.S. REJECTED ISRAELI PLEA TO ATTACK IRAN
U.S. President George W. Bush rejected three requests in 2008
for permission and aid for a potential airstrike inside Iran,
according to the New York Times. Israel wanted bunker-busting
bombs, equipment to help refuel planes making flights into Iran,
and permission to fly over Iraq to reach the site of Iran's only
uranium enrichment plant, the report said.

FERRY CARRYING 250 CAPSIZES IN INDONESIA
A rescue operation is underway in eastern Indonesia on Sunday
after a passenger ferry capsized with about 250 people on board.

PRINCE HARRY APOLOGIZES FOR OFFENSIVE REMARKS
Videos purportedly shot by Britain's Prince Harry and including
offensive language prompted an official apology Saturday from
the prince and the royal family.

SAUDI PROFESSOR RELEASED FROM PRISON
An outspoken Saudi human rights advocate who was imprisoned
without charge for nearly eight months was freed this weekend,
according to a fellow human rights activist.

ZIMBABWE OPPOSITION: 11 BACKERS STILL MISSING
Zimbabwe's main opposition party has asked organizations such as
the United Nations to help find 11 supporters who were allegedly
abducted by government agents, a party spokesman said.

MILITIA KILLS RANGER IN CONGO NATIONAL PARK
A militia killed a ranger in a Democratic Republic of Congo park
where authorities are trying to protect endangered gorillas
threatened by civil war, the park said.

----------------------------------------------------~~~~~~~~~~~
BUSINESS

THIRD PERSON ARRESTED IN SATYAM SCANDAL
The chief financial officer of India's Satyam Computer Services
Ltd. was arrested Saturday, the third person taken into custody
in a scandal that began when the company's chairman admitted
inflating profits with "fictitious" assets and non-existent
cash.

RUSSIA, UKRAINE LOOK TO RESUME GAS FLOW
Russia and the European Union have agreed on how to control the
transit of natural gas through Ukraine to Europe, the Russian
news agency Interfax reported Saturday.

LLOYDS TSB IN U.S. SANCTIONS BREACH
British bank Lloyds TSB agrees to pay a $350 million penalty to
the U.S. authorities for illegal financial transfers that
violated sanctions.

International

Date: Sun, 11 Jan 2009 05:01:07 -0500
TOP STORIES as of 1000 GMT -- 11 January, 2009

CLASHES NEAR GAZA CITY, WITNESSES SAY
Clashes between Hamas militants and Israeli soldiers raged to
the north and east of densely populated Gaza City early Sunday,
the 16th day of an Israeli offensive, witnesses and medical
sources said.

COSTA RICA QUAKE TOLL JUMPS TO 34
The number of people killed from an earthquake in Costa Rica
rose to 34 on Saturday, a government official said.

THIRD PERSON ARRESTED IN SATYAM SCANDAL
The chief financial officer of India's Satyam Computer Services
Ltd. was arrested Saturday, the third person taken into custody
in a scandal that began when the company's chairman admitted
inflating profits with "fictitious" assets and non-existent
cash.

BUS TUMBLES INTO RAVINE IN PERU, KILLS 32
Thirty-two people were killed and 25 others injured when a bus
skidded off a rain-slicked mountain road and tumbled into a
ravine in northern Peru early Saturday, a transit police
spokesman told CNN.

MILITANTS ATTACK PAKISTAN TROOPS; DOZENS DEAD
Hundreds of militants, believed to be foreign fighters, launched
attacks on various military check posts in Pakistan's border
with Afghanistan Saturday night and early Sunday morning,
military officials said.

REPORT: EU, RUSSIA MOVE TOWARDS GAS DEAL
Russia and the European Union have agreed on how to control the
transit of natural gas through Ukraine to Europe, the Russian
news agency Interfax reported Saturday.

OBAMA FAMILY VISITS LINCOLN MEMORIAL
President-elect Barack Obama, who in 10 days will be sworn in
using the Bible of his political hero Abraham Lincoln, visited
the Lincoln Memorial in Washington on Saturday night with his
family.

PRINCE HARRY APOLOGIZES FOR RACIST REMARKS
Videos purportedly shot by Britain's Prince Harry and including
offensive language prompted an official apology Saturday from
the prince and the royal family.
-----------------------------------------
BUSINESS

LLOYDS TSB IN U.S. SANCTIONS BREACH
British bank Lloyds TSB agrees to pay a $350 million penalty to
the U.S. authorities for illegal financial transfers that
violated sanctions.

INDIAN OIL WORKERS END CRIPPLING STRIKE
Facing intense government pressure, Indian oil workers agreed to
call off a three-day strike and go back to work, the Oil and
Petroleum Ministry announced.

OBAMA CALLS FOR 'DRAMATIC ACTION'
U.S. President-elect Barack Obama said Congress must take
"dramatic action" on his economic aid package as soon as
possible, warning that a failure to do so would have devastating
long-term consequences for the nation.

Energy: Russia and Ukraine reach deal on natural-gas flows: report

Date: 11 JAN 2009 12:24:15 GMT

Russia and Ukraine early Sunday reached a deal to restore natural-gas
flows to Europe, as monitoring teams from the European Union prepared
to oversee the transit of Russian gas, the Associated Press reported.

Hyundai Genesis has won North American Car of the Year at the Detroit Auto Show. Ford F-150 won Truck of the Year award.

Date: Sun, 11 Jan 2009 09:32:21 -0500

yundai Genesis has won North American Car of the Year at the Detroit
Auto Show. Ford F-150 won Truck of the Year award.

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Saturday, January 17, 2009

International

Breaking News

Breaking News

International

Friday, January 16, 2009

Energy: ConocoPhillips cuts jobs, spending in face of falling oil prices

International

Tech: Intel gains help lift tech sector at market close

Markets Friday, 01/16/2009

Bank of America's dividend cut one of many facing investors

Stocks stage a late-day rally, with the Dow closing up 60 after BofA got another bailout and Citi unveiled plans to split.

Dow industrials up 90 points near Friday's close

Circuit City, which has 30,000 workers at 567 stores, seeks court OK to liquidate after failing to reach deal with creditors.

NTSB agents arrive to investigate ditched US Airways flight

International

Citigroup reports quarterly loss of $8.3B - much worse than expected. Says it will split into 2 businesses - a bank and a brokerage.

Bank of America quarterly loss was $1.8B. In addition, Merrill lost $15.3B, and BoA announced a $20B bailout.

Increase in consumer prices in 2008 is smallest in 54 years; CPI down in December

U.S. industrial production falls 2% in December, 11.5% in fourth quarter

Consumer prices fell 0.7% in December - 3rd straight month of declines - on sharp drop in energy costs, government says.

Stocks open higher as another government bailout of Bank of America offsets dismal quarterly results from BofA and Citigroup.

Thursday, January 15, 2009

International

Tech: Palm, Amazon jump as techs close with gains

Markets Thursday, 01/15/2009

US Airways plane crashes into Hudson River in New York

Senate rejects an attempt to block $350 billion in bailout funds, effectively releasing the money for incoming President Obama.

Breaking News

Stocks stage a comeback with the Dow closing up slightly after falling 200 points on renewed fears about the shaky banking sector.

Breaking News

U.S. Airways jet crashes in New York City's Hudson River

Energy: Infrastructure fund manager taps Fluor, FPL Group, Siemens

Breaking news: Obama plans Middle East effort

Breaking News

Dow drops over 200 points, falling below 8,000 for the first time since its bear market trading low on Nov. 21.

Energy: Managed decline of Russia's ruble continues

Benchmark 30-year mortgage falls below 5% for first time

Benchmark 30-year mortgage rate falls below 5% for first time ever

Number of people filing for first-time unemployment benefits rose last week by 54,000 to 524,000, the goverment says.

International

Breaking News

House Democrats, citing worst financial crisis since Depression, propose $825 billion of spending and tax cuts to revive economy.

Dow industrials down more than 100 points; B. of A. is biggest decliner, falling 20%

European Central Bank chops rates by a half-point to 2%

First-time jobless claims up 54,000 last week; U.S. continuing claims at 4.5 million

Stocks open flat after JPMorgan Chase reports a surprise profit and investors digest grim economic data.

Wednesday, January 14, 2009

International

Tech : Flextronics, Palm and AMD among decliners as sector tumbles

Markets Wednesday, 01/14/2009

Apple's Jobs to take medical leave of absence

Apple shares tumble nearly 10% in resumed after-hours trading on news of CEO Jobs' medical leave.

Breaking News

Dow hits a new low for the day, dropping 307 points, as a wave of fear hits investors.

Economy weakend across nearly all regions in past 6 weeks, Fed says. Commercial real estate deteriorated; total lending declined.

No signs of upturn through early January: Fed Beige Book

Bank woes pull financials down; Citi shares under $5

Selling accelerates on Wall Street with the Dow plunging more than 300 points as grim retail sales sap investor confidence.

Deutsche Bank warns of fourth-quarter loss of over $6 billion

International

Nortel Networks to file for bankruptcy protection: reports

Dow plummets more than 200 points as selling accelerates following dismal retail sales reports.

Holiday sales tumbled 2.8% - worse than expected - according to retail trade group.

Dow industrials fall 160 points; Citi is worst performer, off 15%

Tuesday, January 13, 2009

International

News Alert!

Tech: Sector ekes out small gain in volatile trading session

Markets Tuesday, 01/13/2009

Yahoo said to be tapping tech veteran Bartz as new CEO

Yahoo said to be tapping tech veteran Bartz as new CEO

Dow closes down 33 points, struggling after Monday's selloff, as investors consider earnings reports, Bernanke speech.

Citigroup to unveil major restructuring plan: Wall Street Journal

Federal budget deficit in first fiscal quarter is $485.2 billion, government says - more than all of last year.

Oil settled down 19 cents to $37.78 a barrel, after Saudi Arabia's oil minister said that the kingdom plans to cut output.

Yahoo to name former Autodesk boss Carol Bartz as CEO: Wall Street Journal

News Alert!

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