International

Date: Sat, 24 Jan 2009 05:01:08 -0500
TOP STORIES as of 1000 GMT -- 24 January, 2009

BRAZILIAN AMPUTEE MODEL DIES FROM DEADLY ILLNESS
Brazilian model Mariana Bridi da Costa, whose hands and feet
were amputated in a bid to save her from a little-known illness,
has died. "Unfortunately Mari couldn't
resist any longer," Henrique Fontes, executive director of Miss
World Brazil, said .

EXPERTS SKEPTICAL ON GITMO DETAINEE REPORT
Security experts are questioning information released by the
Pentagon last week, saying 61 former detainees from its
detention center at Guantanamo Bay, Cuba, may have returned to
terrorist activities.

MUSHARRAF: U.S. TREATS PAKISTAN 'UNEQUALLY'
Former Pakistan President Pervez Musharraf said his country is
being treated "unequally" to other countries, despite being a
staunch U.S. ally in its war on terror. The interview took place
amid reports of U.S. drones striking militant targets in
Pakistan days after the start of the Obama administration, a
continuation of a Bush policy that Musharraf warned against.

CLINTON REACHES OUT TO U.S. ALLIES
Secretary of State Hillary Clinton has phoned a slew of leaders
since taking office on Thursday, reaching out to key allies in
the Middle East, Asia and Europe as the Obama administration
reviews foreign policies.

OBAMA CHANGES FOREIGN ABORTION-FUNDING POLICY
President Obama will issue an executive order Friday afternoon
reversing a controversial abortion-related policy from the past
three Republican administrations, a senior administration
official said.

TWO CHILDREN KILLED BY MAN WITH 'PAINTED' FACE
A stabbing at a nursery school outside Brussels, Belgium, on
Friday left two children and one adult dead, the Belgian
Interior Ministry said. Another three children were rushed to
hospital in a critical condition, according to reports.

FREED GITMO DETAINEE 'WENT TO AL QAEDA'
A Saudi national released from U.S. detention at Guantanamo Bay,
Cuba, in September 2007 is believed to be a key leader in al
Qaeda's operations in Yemen, according to a U.S.
counterterrorism official. "He is one of a handful of al Qaeda
deputies in Yemen," the official said. "He is one of the top
terrorists."

U.N. MULLED HALTING SOMALI FOOD AID
The United Nations considered suspending delivery of food to
areas of Somalia after the recent killings of two aid workers,
said a spokesman for the organization's World Food Program.
-----------------------------------------
BUSINESS

BRITISH ECONOMY NOW OFFICIALLY IN RECESSION
The British economy is officially in a recession, according to
statistics released Friday. The British gross domestic product
declined by 1.5 percent in the fourth quarter of 2008, the
British government announced. That followed a decline of 0.5
percent in the third quarter.

BOLIVIA NATIONALIZES BP SUBSIDIARY
Bolivian President Evo Morales nationalized the Chaco petroleum
company Friday, taking over the British Petroleum subsidiary
with the military on standby.

GEITHNER HEADS TO FULL SENATE VOTE
A U.S. Senate panel recommended the full Senate confirm Tim
Geithner as the next Treasury secretary, but five Republican
senators opposed going forward, including the committee's
ranking member.

International

Date: Fri, 23 Jan 2009 20:02:07 -0500
TOP STORIES as of 0900 HKT -- 24 January, 2009

MUSHARRAF: U.S. TREATS PAKISTAN 'UNEQUALLY'
Former Pakistan President Pervez Musharraf said his country is
being treated "unequally" to other countries, despite being a
staunch U.S. ally in its war on terror. The interview took place
amid reports of U.S. drones striking militant targets in
Pakistan days after the start of the Obama administration, a
continuation of a Bush policy that Musharraf warned against.

OBAMA REVERSES FOREIGN FAMILY-AID POLICY
President Obama will issue an executive order Friday afternoon
reversing a controversial abortion-related policy from the past
three Republican administrations, a senior administration
official said.

VIDEO SHOWS ESCAPE FROM NEW YORK PLANE CRASH
Video captured seconds after US Airways Flight 1549 ditched into
New York's Hudson River shows several passengers run onto the
plane's wings while at least two evacuees dive into the frigid
water. All 155 crew and passengers on the plane survived the
incident, which has been called "Miracle on the Hudson."

DOCTORS AMPUTATE MODEL'S HANDS, FEET
The family of a 20-year-old Brazilian model who is fighting for
her life after having her hands and feet amputated have urged
her supporters around the world to keep praying for their
daughter. Mariana Bridi da Costa fell ill in December and is now
on life support. "Mariana is (a) warrior and will win this
battle," her family said in a message on her Web site.

MAN WITH 'PAINTED' FACE KILLS CHILDREN AT NURSERY
A stabbing at a nursery school outside Brussels, Belgium, on
Friday left two children and one adult dead, the Belgian
Interior Ministry said. Another three children were rushed to
hospital in a critical condition, according to reports.

FREED GITMO DETAINEE 'WENT TO AL QAEDA'
A Saudi national released from U.S. detention at Guantanamo Bay,
Cuba, in September 2007 is believed to be a key leader in al
Qaeda's operations in Yemen, according to a U.S.
counterterrorism official. "He is one of a handful of al Qaeda
deputies in Yemen," the official said. "He is one of the top
terrorists."

POPE LAUNCHES YOUTUBE CHANNEL
Pope Benedict XVI launched his own channel on YouTube Friday in
an effort to use new technology to reach a younger audience.

UK ECONOMY IN RECESSION
The British economy is officially in a recession, according to
GDP numbers released Friday.
--------------------------------------------------
BUSINESS

BOLIVIA NATIONALIZES BP SUBSIDIARY
Bolivian President Evo Morales nationalized the Chaco petroleum
company Friday, taking over the British Petroleum subsidiary
with the military on standby.

GEITHNER HEADS TO FULL SENATE VOTE
A U.S. Senate panel recommended the full Senate confirm Tim
Geithner as the next Treasury secretary, but five Republican
senators opposed going forward, including the committee's
ranking member.

INDIA BANS IMPORT OF CHINESE TOYS
India Friday announced it has banned import of Chinese toys for
six months.

Tech : Google gains lead to late tech turnaround

Date: Fri, 23 Jan 2009 18:00:17 -0500

Tech Stocks: Google gains lead to late tech turnaround
1/23/2009 4:37 PM ET
Technology stocks come back to life in late trading as Google Inc.
shares move higher, and the rest of the sector fends off an early
decline fueled by uncertainty over several corporate earnings reports.

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Intel denies seeking to derail AMD spinoff
1/23/2009 4:55 PM ET
Intel Corp. fires back at Advanced Micro Devices Inc., denying its
rival's charge that it was trying to derail a planned spinoff.

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AMD shares rise after chip maker posts narrower loss
1/23/2009 4:30 PM ET
Shares of Advanced Micro Devices Inc. close higher after the chip
maker reportsa narrower fourth-quarter loss in what CEO Dirk Meyer
describes as an industry with poor visibility.

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Xerox posts lower profit, sees first quarter below consensus
1/23/2009 4:28 PM ET
Xerox Corp. said Friday that its fourth-quarter net
income fell sharply from the year-earlier period, partly because of a
steep restructuring charge, and warned that first-quarter results will
come in below Wall Street's expectations.

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Earnings Outlook: Yahoo expected to see profit decline as Yang steps aside
1/23/2009 4:08 PM ET
Yahoo Inc. is expected to report a dip in profit for its fourth
quarter after the market's close on Tuesday, as incoming Chief
Executive Carol Bartz take
the reins from co-founder Jerry Yang and attempts to right the
struggling Internet company.

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Intel's Barrett, CEO during boom, to retire as chairman
1/23/2009 4:05 PM ET
Chairman Craig Barrett, who served as the semiconductor giant's chief
executive during a period of explosive growth amid the dot-com boom,
is stepping down in May.

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Economic Outlook: Texas Instruments seen posting sales drop as
analysts turn gloomy
1/23/2009 2:16 PM ET
Texas Instruments Inc. is expected to report a 33% drop in sales and
earnings amid slumping demand and concerns about competition in the
cell-phone chip business.

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Google shares gain, with analysts favorable toward results
1/23/2009 1:41 PM ET
Shares of Google move higher, gaining ground after the search giant
reported a sharply lower fourth-quarter profit that still beat
analysts' estimates.

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Telecom Stocks: Alcatel-Lucent, Sprint, Nokia decline
1/23/2009 10:56 AM ET
Telecommunications stocks retreat once again Friday as the broader
U.S. market falls in the wake of more weak corporate earnings reports.

Markets Friday, 01/23/2009

Date: Fri, 23 Jan 2009 17:31:03 -0500

| Dow : 8077.56 down 45.24 | S & P : 831.95 up 4.45
|
| NASDAQ: 1477.29 up 11.80 | Bond (10Y): 2.61%, 109.72

MARKETS:
Stocks: Techs rally, blue chips slump
Google helps the tech sector rebound, but the Dow can't build any momentum.

Immelt's Last Stand

Date: Fri, 23 Jan 2009 17:01:37 -0500

Immelt's Last Stand

Jeff Immelt and his team at General Electric held the line Friday.
Despite posting a steep drop in fourth-quarter profit, they defended
the dividend. They had to, writes Jim Jelter.

STOCKS SLIDE ON WEEK; S&P READY FOR ANOTHER DOWN QUARTER

With a third straight week of losses for the Standard & Poor's 500
Index, the backdrop to the dismal run can be seen in earnings reports
already in from more than a quarter of the companies listed on the
index.

AFLAC MORE EXPOSED TO HYBRID SECURITIES THAN RIVALS, UBS SAYS

Aflac Inc. is a lot more exposed to so-called hybrid securities than
rival insurers, UBS analyst Andrew Kligerman says.

SATYAM SOARS AS BOARD CITES PROGRESS ON NEW CEO, FUNDING

Shares of Satyam Computer surge, rallying as the battered
information-technology giant's board cites progress in its bid to
secure finding and find a new chief executive.

FUTURES MOVERS: OIL FUTURES RISE, JOINING BROAD RALLY IN COMMODITIES

Oil futures end up 6%, reversing earlier losses and joining a
broad-based rally in commodities, as traders looking for a safe haven
pile into hard assets.

Stocks struggle to close with mixed results. Dow drops; Nasdaq, S&P 500 rise. GE earnings weigh on blue chips; Google lifts techs.

Date: Fri, Jan 23, 2009 at 4:02 PM

Stocks struggle to close with mixed results. Dow drops; Nasdaq, S&P
500 rise. GE earnings weigh on blue chips; Google lifts techs.

Major U.S. stock indexes turn positive with energy shares pacing gains

Date: Fri, 23 Jan 2009 14:03:18 -0500

Major U.S. stock indexes turn positive with energy shares pacing gains
1/23/2009 2:01:19 PM EDT

General Electric sees more credit losses in 2009

Date: Fri, 23 Jan 2009 12:01:24 -0500

General Electric sees more credit losses in 2009

Following one of the most traumatic market periods in its 117-year
history, General Electric Co. says it foresees more credit losses in
2009 and plans to bulk up its cash reserve to weather the current
recession.

GOOGLE'S PROFIT DECLINES AS VALUE OF INVESTMENTS SHRINKS

Google shares trade higher as investors play off fourth-quarter
financial results to which analysts react positively for the most
part.

PFIZER IN TALKS TO BUY WYETH IN BLOCKBUSTER DEAL: WSJ

Pfizer Inc. is negotiating to acquire rival drug maker Wyeth in a
blockbuster deal potentially worth more than $60 billion that could
alter the global drug industry, the Wall Street Journal reports.

CURRENCIES: BRITISH POUND PLUMMETS AS DATA SHOW DEEPER U.K. RECESSION

The pound plunges to a 23-year low against the dollar, undermined as
government data confirmed the U.K. economy fell into a deep and
potentially long-lasting recession in the final three months of 2008.

ECONOMIC REPORT: BRITAIN OFFICIALLY ENTERS FIRST RECESSION SINCE 1991

The British economy contracts sharply in the final three months of
2008, shrinking 1.5% compared to the previous quarter.

Stocks plunge at open - Dow sinks 1.9% - after market bellwether GE posted a 47% profit drop and warned 2009 would be difficult.

Date: Fri, 23 Jan 2009 09:32:03 -0500

Stocks plunge at open - Dow sinks 1.9% - after market bellwether GE
posted a 47% profit drop and warned 2009 would be difficult.

International

Date: Fri, 23 Jan 2009 05:02:07 -0500
TOP STORIES as of 1000 GMT -- 23 January, 2009

HUMAN EMBRYONIC STEM CELL STUDY GETS GREEN LIGHT
U.S. regulators have cleared the way for the first human trials
of human embryonic stem-cell research, authorizing researchers
to test whether the cells are safe to use in spinal injury
patients, the company behind the trials announced Friday.

CONGO REBEL LEADER NKUNDA ARRESTED
Rwandan authorities arrested Congolese rebel leader Laurent
Nkunda early Friday, Democratic Republic of Congo Minister of
Communications Mende Omalanga siad. Nkunda has been leading
one side of a conflict in eastern Congo, which is effectively an
extension of the Rwandan genocide of the early 1990s.

RIVAL FACTIONS IN GAZA TRADE ACCUSATIONS
In the wake of an Israeli offensive, Gaza's ruling party, Hamas,
is accusing rival Palestinian faction Fatah of spying for
Israel. In return, some are accusing Hamas of "punishment
shootings" against suspects.

JAPAN LAUNCHES SATELLITE TO EYE GREENHOUSE GAS
The Japanese space agency launched a satellite Friday that will
measure greenhouse gases from the earth's orbit.

INDIAN PM SINGH TO HAVE HEART SURGERY
Indian Prime Minister Manmohan Singh will have heart surgery in
a New Delhi hospital this weekend, his office announced Friday.

NORTH KOREA'S KIM MEETS CHINESE ENVOY
A Chinese official met with North Korean leader Kim Jong-Il in
Pyongyang on Friday, the state-run Xinhua news agency reported.

KILLER DECAPITATES STUDENT, U.S. POLICE SAY
A female graduate student at Virginia Tech was killed Wednesday
night when a man she knew attacked her with a knife and
decapitated her, a school spokesman said.
-----------------------------------------
BUSINESS

GEITHNER HEADS TO FULL SENATE VOTE
A U.S. Senate panel recommended the full Senate confirm Tim
Geithner as the next Treasury secretary, but five Republican
senators opposed going forward, including the committee's
ranking member.

SINGAPORE ANNOUNCES $13.6B STIMULUS
Citing "a time of grave economic crisis," Singapore Finance
Minister Tharman Shanmugaratnam proposed a a $20.5 billion (U.S.
$13.6 billion) "resilience package" to parliament, as the
city-state deals with its deepest recession in its history.

Energy: London's FTSE 100 below 4,000 as recession confirmed

Date: 23 JAN 2009 10:02:16 GMT

London's top share index falls below the key 4,000 level for the first
time since early December on Friday after GDP figures confirm that the
country is in recession.

Investors bid up gold futures as U.S. stocks gird for sharply lower open

Date: Fri, 23 Jan 2009 08:59:04 -0500

Investors bid up gold futures as U.S. stocks gird for sharply lower open
1/23/2009 8:57:10 AM EDT

Breaking News

Date: Thu, 22 Jan 2009 23:29:12 -0500

North Korean leader Kim Jong-Il meets a Chinese envoy in Pyongyang,
China's state-run Xinhua news agency reports.

International

Date: Thu, 22 Jan 2009 20:01:08 -0500
TOP STORIES as of 0900 HKT -- 23 January, 2009

DOWNTURN SPURS HUGE CHINESE NEW YEAR MOVE
On the eve of Chinese New Year holidays, millions of migrant
workers are leaving the cities and returning to their homes in
the vast Chinese countryside. But not all will be celebrating as the
global economic downturn hits home.

TWO PEACEMAKERS GET KEY OBAMA JOBS
Two proven peacemakers have accepted key jobs in U.S. President
Barack Obama's diplomatic corps. Richard Holbrooke, who helped
end war in Bosnia, was made special envoy for Pakistan and
Afghanistan, and George Mitchell, who played a key role in
bringing peace to Northern Ireland, is the special envoy to the
Mideast.

OBAMA SIGNS ORDER TO CLOSE GUANTANAMO BAY
U.S. President Barack Obama issues four executive orders to
demonstrate a clean break from the Bush administration on the
war on terror, including one requiring that the U.S. military
detention facility at Guantanamo Bay be closed within a year.

FREED GITMO PRISONER CONSIDERS LAWSUIT
Saad Muhammad Iqbal is a free man after serving more than six
years at the U.S. military's detention facility in Guantanamo
Bay, Cuba -- without any charge.

AFGHAN GIRLS MAIMED BY ACID STILL WANT SCHOOL
Shivering in pain and calling for her mother, Shamsia's hands
shake uncontrollably, her eyes swollen shut and her skin peeling
from terrible acid burns. But the 19-year-old's resolve is
undimmed: she and other victims of Taliban acid attacks in
Kandahar will not prevent them from being educated.

U.S. ENVOY SEES DANGERS IN ABRUPT IRAQ PULLOUT
The U.S. ambassador to Iraq on Thursday warned against an abrupt
American military departure from Iraq, saying "a precipitous
withdrawal runs some very severe risks."

OSCAR NOMINATIONS SPRING A FEW SURPRISES
"The Curious Case of Benjamin Button" leads all films --
including the early favorite "Slumdog Millionaire" -- at the
nominations for the 81st annual Academy Awards, picking up 13.
The film about a man who ages backwards earns Brad Pitt a best
actor nomination while his wife Angelina Jolie also wins a best
actress nod for her role in "Changeling."

ECONOMIC CRISIS DOMINATES DAVOS AGENDA
Heads of state, influential politicians, business leaders and
global powerbrokers will gather in the Swiss Alps next week for
the World Economic Forum -- with the perilous state of the
planet's financial system set to top this year's agenda.
---------------------------------------------
BUSINESS

CHINA'S ECONOMY SLOWS
China's economic growth slumped to 9 percent for 2008, according
to numbers released by the government Thursday -- in line with
expectations, but still the slowest rate the nation has seen in
seven years.

CHINA MILK CASE YIELDS DEATH, LIFE SENTENCES
A Chinese court sentenced one man to death and another to life
in prison for their roles in the country's tainted milk scandal,
which killed at least six infants and sickened nearly 300,000
others.

SONY SAYS LOSSES COULD HIT $2.9B
Electronics manufacturer Sony announced Thursday that it will
close out the year in the red -- the first time in 14 years that
the company will report an operating loss.

Tech: Microsoft's weak earnings lead tech stocks into the red

Date: Thu, 22 Jan 2009 18:00:31 -0500

Tech Stocks: Microsoft's weak earnings lead tech stocks into the red
1/22/2009 4:28 PM ET
Tech stocks put in a broadly negative trading session as the overall
sector closes in the red following a slate of negative business
reports from tech giants Microsoft, Nokia and Intel.

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Google's profit slips, but company beats estimates
1/22/2009 5:59 PM ET
Google Inc. posts a sharply lower fourth-quarter profit that still
beats Wall. Street analysts' estimates for a period in which it took
over $1 billion in charges related to the plummeting value of some
strategic investments.

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AMD posts narrower loss, accuses Intel of sowing uncertainty
1/22/2009 5:36 PM ET
Advanced Micro Devices Inc. posts a narrower fourth-quarter loss,
stung by a deep drop in computer microprocessor sales in what Chief
Executive Dirk Meyer describes as an industry with poor visibility.

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Lockheed Martin grows fourth-quarter profit; 2009 view lowered
1/22/2009 5:13 PM ET
Lockheed Martin Corp. reports that fourth-quarter profit edged up 3%
as robust earnings in its technology-based segments offset a slump in
aerospace and space systems.

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With iPods selling well, Apple closes with strong gains
1/22/2009 4:11 PM ET
Shares of Apple pull back from their high point, but remain up by more
than 6% in afternoon trading after the consumer-electronics company
defied expectations by reporting upbeat quarterly results fueled by
strong sales of iPod media
players.

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Obama gets to keep 'enhanced' BlackBerry
1/22/2009 4:03 PM ET
Commander in Chief Barack Obama, a known BlackBerry addict, doesn't
have to surrender his smartphone after all.

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Microsoft reports drop in earnings, plans to lay off 5,000
1/22/2009 3:02 PM ET
Microsoft rattles investors by releasing a disappointing quarterly
earnings report and announcing that it will lay off as many as 5,000
workers, a. startling development for a company that has taken pride
in avoiding such sweeping job cuts in its roughly 33-year history.

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Telecom Stocks: Nokia, telecom stocks tumble on wireless weakness
1/22/2009 1:22 PM ET
Shares of the world's top wireless-phone maker,
Finland's Nokia Corp., sank more than 11% Thursday after issuing weak
quarterly results and a dour forecast for 2009, sending most
telecommunications stocks lower.

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AMD expected to post bigger fourth-quarter loss
1/22/2009 12:15 PM ET
Advanced Micro Devices Inc., the second largest maker of computer
microprocessors, is expected to report a bigger fourth-quarter loss as
the chip industry struggles through a severe downturn.

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Nokia losing its grip on high-end phones
1/22/2009 11:55 AM ET
LONDON Nokia Corp., the world's top mobile-phone maker, is
rapidly losing ground to rivals like Research in Motion, Apple and
even HTC at the high end and must urgently refresh its portfolio in
this lucrative segment of the market, analysts cautioned Thursday.

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A sobered Google poised to report results
1/22/2009 11:52 AM ET
Google Inc. will follow a round of layoffs and the shuttering of a
number of peripheral products by reporting fiscal fourth-quarter
results after the
market's close, and analysts are looking for the company to post an
increased profit.

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Emerging Markets Report: Korea's GDP posts sharpest drop since Asian crisis
1/22/2009 11:34 AM ET
South Korea's economy posts its sharpest deterioration since the Asian
financial crisis, highlighting how hard the region has been battered
by the global economic downturn.

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EBay shares slide on first-time earnings decline
1/22/2009 11:27 AM ET
EBay Inc. shares slide more than 10% after the online auction provider reports
disappointing revenue for the fourth quarter and warns that the current period
would also disappoint.

Markets Thursday, 01/22/2009

Date: Thu, 22 Jan 2009 17:31:02 -0500

| Dow : 8122.80 down 105.30 | S & P : 827.50 down 12.74 |
| NASDAQ: 1465.49 down 41.58 | Bond (10Y): 2.59%, 109.91

MARKETS:
Stocks drop on banks and Microsoft
Wall Street sees red, with financial and technology issues leading the decline.

Google's profit slips, but company beats estimates

Date: Thu, 22 Jan 2009 17:01:53 -0500

Google's profit slips, but company beats estimates

Google Inc. posts fiscal fourth-quarter results that beat Wall Street
analysts'estimates, despite a stark decline in profit compared to the
period a year earlier.

OBAMA GETS TO KEEP 'ENHANCED' BLACKBERRY

Commander in Chief Barack Obama, a known BlackBerry addict, doesn't
have to surrender his smartphone after all.

THAIN RESIGNS FROM BANK OF AMERICA

Former Merrill Lynch Chief Executive John Thain resigns from Bank of America.

BAILED-OUT BANKS WILL HAVE TO DISCLOSE LENDING

Banks getting money from the government's $700 billion bailout fund
will have to explain in detail what they are doing with the money, the
incoming head of. the Treasury Department says.

MICROSOFT REPORTS DROP IN EARNINGS, PLANS TO LAY OFF 5,000

Microsoft rattles investors by releasing a disappointing quarterly
earnings report and announcing that it will lay off as many as 5,000
workers, a startling development for a company that has taken pride in
avoiding such sweeping job cuts in its roughly 33-year history.

Google reports earnings of $5.10 a share and revenue of $5.7 billion, both beating analyst projections. Stock up 2% after hours.

Date: Thu, Jan 22, 2009 at 4:05 PM

Google reports earnings of $5.10 a share and revenue of $5.7 billion,
both beating analyst projections. Stock up 2% after hours.

Wall Street ends with a selloff. Dow, Nasdaq, S&P 500 fall 1% or more as BofA shakeup and Microsoft earnings rattle investors.

Date: Thu, Jan 22, 2009 at 4:02 PM

Wall Street ends with a selloff. Dow, Nasdaq, S&P 500 fall 1% or more
as BofA shakeup and Microsoft earnings rattle investors.

Breaking News: Obama orders Gitmo closed within a year

Date: Thu, 22 Jan 2009 10:35:45 -0600

WASHINGTON (AP) - President Barack Obama has signed orders to close
the Guantanamo Bay detention center, review military trials of
suspects and ban the harshest interrogation methods. The moves
significantly change how the United States will prosecute and question
al-Qaeda, Taliban or other foreign fighters who pose a threat to
Americans.

Breaking News Thu., January 22, 2009

Date: Thu, 22 Jan 2009 08:42:09 -0800 (PST)

Senate Committee Approves Timothy Geithner for Treasury Secretary.

Merrill Lynch CEO John Thain resigns from Bank of America: reports

Date: Thu, 22 Jan 2009 12:05:37 -0500

Merrill Lynch CEO John Thain resigns from Bank of America: reports
1/22/2009 12:03:41 PM EDT

Microsoft reports drop in earnings, plans to lay off 5,000

Date: Thu, 22 Jan 2009 12:01:20 -0500
Microsoft reports drop in earnings, plans to lay off 5,000

Microsoft Corp. reports a drop in earnings for its fiscal second
quarter and announces plans to lay off as many as 5,000 workers as the
slowing economy has hurt the software giant's businesses.

BOOSTED BY STRONG IPOD SALES, APPLE SHARES RISE

Shares of Apple surge ahead of Thursday's open bell, playing off
financial results in which first-quarter profit easily top investor
expectations.

NOKIA SAYS PROFIT DROPS 69%, LOWERS 2009 VIEW

Nokia, the world's largest maker of mobile phones, generates a 69%
drop in fourth-quarter profit, reflecting waning demand during the key
holiday season, particularly in emerging markets like China.

BANK LOSSES BATTER S&P 500 EARNINGS OUTLOOKS

The bad debt rotting banks' books has sent projections for corporate
earnings diving, with S&P 500 profits now on track for a roughly 20%
drop -- significantly worse than they were at the start of the
quarter.

HOUSING STILL HEADING FOR A BOTTOM, BUT SHOULD GET THERE IN '09

Housing will not look much better at the end of this year than it does
now, but "we do expect '09 will be the bottom," the chief economist
for the National Association of Home Builders said Tuesday.

Dow tumbles over 200 points as selling accelerates amid concerns about housing and jobs.

Date: Thu, 22 Jan 2009 10:45:06 -0500

Dow tumbles over 200 points as selling accelerates amid concerns about
housing and jobs.

Energy: Sector weakens with broad market on bearish supply view

Date: 22 JAN 2009 15:13:04 GMT

Energy stocks fell Thursday ahead of an expected rise in weekly
inventories, as the sector cooled off after big gains in the previous
session.

International

Date: Thu, 22 Jan 2009 05:02:03 -0500
TOP STORIES as of 1000 GMT -- 22 January, 2009

DEATH SENTENCES IN CHINA TAINTED MILK SCANDAL
A court sentenced the former board chairwoman and general
manager of dairy firm Sanlu Group, to life in prison for her
role in a tainted milk scandal that killed at least six infants
and sickened 300,000 others. Three men received death sentences
for their roles in the case, which put a global spotlight on
China food safety.

OBAMA TAPS ENVOYS FOR MIDDLE EAST, IRAN
The Obama administration has asked former U.S. Senator George
Mitchell to be a special envoy to the Middle East, sources close
to the administration and diplomats said.

PAKISTAN ARRESTS LONDON BOMBINGS SUSPECT
Pakistan has arrested a suspected al Qaeda militant who
intelligence officials say is tied to the London subway bombings
in 2005, authorities there said Thursday.

SONY FORECASTS OPERATING LOSS
Electronics manufacturer Sony announced Thursday that it will
close out the year in the red -- the first time in 14 years that
the company will report an operating loss.

PASSENGERS FEEL LIKE 'HOSTAGES' DURING 16-HOUR ORDEAL
Some passengers on a diverted Aeromexico flight finally reached
their destination in Seattle, Washington, on Wednesday after
spending 16 hours in limbo.

OBAMA RETAKES OATH AFTER INAUGURATION MISTAKE
President Obama retook his oath of office Wednesday after Chief
Justice John Roberts flubbed while delivering it at Tuesday's
inauguration.

OFFICIALS: OBAMA SET TO ORDER GITMO CLOSED
The Obama administration is drafting executive orders calling
for the closure of the military prison at Guantanamo Bay, two
administration officials said. The revelation coincided with a
judge's decision on Wednesday to halt the September 11 terrorism
cases at the behest of U.S. President Barack Obama.

CHINA'S ECONOMIC GROWTH SLOWS TO 9 PERCENT
China's economic growth slumped to 9 percent for 2008, according
to numbers released by the government -- the slowest rate the
nation has seen in seven years. Tens of thousands of Chinese
factories have closed, and millions are looking for jobs.

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

GEITHNER VOWS BOLDNESS ON ECONOMY
U.S. Treasury Secretary-designate Tim Geithner, appearing at his
confirmation hearing, called for bold action to blunt the
economic downturn and promised to tighten the terms for
companies getting federal financial help.

Nokia reports worse-than-forecast 19% sales fall

Date: Thu, 22 Jan 2009 06:06:06 -0500

Nokia reports worse-than-forecast 19% sales fall
1/22/2009 6:04:01 AM EDT

New homes starting construction in December fell by 15.5% to an annual rate of 550,000 - lowest since record keeping.

Date: Thu, 22 Jan 2009 08:35:06 -0500

New homes starting construction in December fell by 15.5% to an annual
rate of 550,000 - lowest since record keeping.

Microsoft says it will cut up to 5,000 jobs over 18 months - 1,400 immediately; reports an 11% decline in net income.

Date: Thu, 22 Jan 2009 09:08:03 -0500

Microsoft says it will cut up to 5,000 jobs over 18 months - 1,400
immediately; reports an 11% decline in net income.

Stocks tumble at the open - Dow falls 1%, Nasdaq drops 2.5%, S&P 500 slips 1% - after Microsoft announces job cuts.

Date: Thu, 22 Jan 2009 09:32:23 -0500

Stocks tumble at the open - Dow falls 1%, Nasdaq drops 2.5%, S&P 500
slips 1% - after Microsoft announces job cuts.

International

Date: Wed, 21 Jan 2009 20:02:03 -0500
TOP STORIES as of 0900 HKT -- 22 January, 2009

CLINTON CONFIRMED AS U.S. SECRETARY OF STATE
The U.S. Senate has approved the nomination of Hillary Clinton
as secretary of state by a vote of 94-2. Republican John Cornyn
had delayed the vote by a day after wanting more time to discuss
the foundation run by her husband, former U.S. President Bill
Clinton.

OBAMA SIGNS IN 'NEW ERA OF OPENNESS'
U.S. President Barack Obama is calling for "a new era of
openness in our country." On his first full day in the job he
signed executive orders setting ethics guidelines for his staff,
and earlier he suspended prosecutions of prisoners at Guantanamo
Bay.

OFFICIALS: OBAMA SET TO ORDER GITMO CLOSED
In one of his first acts in office, President Obama has ordered
the U.S. government to suspend prosecutions of prisoners at
Guantanamo Bay for 120 days, a military spokesman said Tuesday.

REPORT: CASTRO WATCHED OBAMA INAUGURATION
Fidel Castro told Argentina's president Wednesday that he
watched U.S. President Obama's inauguration on TV, apparently
belying widespread speculation that the former Cuban leader had
suffered a major relapse or died, Argentina's official news
agency said.

NEW JOB LOSSES HIGHLIGHT GLOBAL TURMOIL
The scope of economic problems sweeping the world was
highlighted Wednesday with stock markets taking new hits and
thousands more job losses being announced.

PILOT ACCUSED OF FAKING DEATH INDICTED
A man suspected of trying to fake his death by parachuting from
a plane before it crashed has been indicted on charges of
willfully damaging an aircraft and triggering a Coast Guard
rescue attempt.

POLL: AMERICANS SEE NO END TO RECESSION
A new national poll suggests that a majority of Americans think
it will take the country two years or longer to recover from the
current recession.

IRAN DECLARES BBC PERSIAN TV ILLEGAL
The activities of the week-old BBC Persian TV channel are
illegal, a top Iranian official said Wednesday, the
semi-official Fars news agency reported.
--------------------------------------------------
BUSINESS

MINING GIANT BHP BILLITON CUTS 6,000 JOBS
BHP Billiton, the world's largest mining company, said Wednesday
it will cut about 6,000 jobs due to the deteriorating outlook in
the global nickel market.

EX-KGB BILLIONAIRE BUYS UK NEWSPAPER
A Russian billionaire and former KGB agent is buying a
controlling stake in the venerable Evening Standard, the London
newspaper announced Wednesday.

CELL PHONE GIANT ERICSSON CUTS 5,000 JOBS
Swedish-based telecommunications company Ericsson announced
Wednesday it is cutting 5,000 jobs as part of cost-reducing
measures.

Tech : IBM leads sector sharply higher; Nasdaq rallies 4%

Date: Wed, 21 Jan 2009 18:00:15 -0500

Tech Stocks: IBM leads sector sharply higher; Nasdaq rallies 4%
1/21/2009 4:33 PM ET
Technology stocks rise as the sector rides big gains from IBM, which
gave a strong quarterly report and forecast for this year.

-----------------------------------------------------------------
Tech Stocks: IBM, other bellwethers lose ground by close
1/20/2009 5:14 PM ET
Technology stocks go into the red in early trading, with IBM Corp.
among the decliners ahead of its fourth-quarter earnings report, due
after the market close.

-----------------------------------------------------------------
Intel to cease operations at five facilities
1/21/2009 5:16 PM ET
SAN FRANCISCO (MarketWatch) - Intel Corp. on Wednesday said it will
stop production at five factories in a bid to consolidate
manufacturing operations in what the chip giant has described as a
period of uncertainty in the
semiconductor industry.

-----------------------------------------------------------------
EBay earnings slide in fourth quarter as forecast disappoints
1/21/2009 4:52 PM ET
EBay Inc. said Wednesday that net income fell
more than 30% during the fourth quarter as sales came under pressure
from the slowing economy and increased competition.

-----------------------------------------------------------------
Seagate swings to big quarterly loss
1/21/2009 4:44 PM ET
Seagate Technology reports a big fiscal second-quarter loss, stung by a 34%
drop in sales.

-----------------------------------------------------------------
IBM shares surge more than 11% on strong outlook
1/21/2009 4:32 PM ET
Investors got behind IBM Corp., sending the tech giant's shares up more than
11% in the hopes that Big Blue's upbeat earnings report and outlook will
deliver at least some relief for a market wracked by economic uncertainty.
-----------------------------------------------------------------
Allegheny Tech's quarterly profit falls 26%
1/21/2009 4:04 PM ET
Allegheny Technologies Inc. says Wednesday that its fourth-quarter net income
fell 26% and warns it will fall short of analyst targets in the coming period
because of rising benefit costs and a one-time expense related to falling
commodity prices.

-----------------------------------------------------------------
EBay's earnings expected to
401/21/2009 2:00 PM ET
EBay's expected to report a decline in fourth-quarter earnings Wednesday
afternoon, a reflection of the online auctioneer's struggles with a slowing
economy and growing competition.

-----------------------------------------------------------------
Sony to shut TV plant, cut 2,000 full-time jobs in Japan: report
1/21/2009 1:55 PM ET
Sony plans to close one of two television factories and cut more than 2,000
full-time jobs in Japan, according to a Japanese media report.

-----------------------------------------------------------------
Telecom Stocks: Ericsson, big phone stocks lead telecoms
1/21/2009 1:34 PM ET

Wireless-equipment maker Ericsson and big U.S. phone
companies tacked higher in Wednesday trades on the first full day of the Obama
presidency.

-----------------------------------------------------------------
Jobs' health, earnings outlook in focus when Apple reports
1/21/2009 11:57 AM ET
Apple Inc. is scheduled to report first-quarter earnings after the market
closes, and if the company wasn't dealing with enough attention surrounding the
health and status of Chief Executive Steve Jobs, it now has to prove that it
can weather the slowdown in tech spending.

-----------------------------------------------------------------
Ericsson plans 5,000 job cuts as fourth-quarter net drops 31%
1/21/2009 10:01 AM ET
Swedish telecoms equipment giant Ericsson AB on Wednesday posted a 31% drop in
fourth-quarter profit as restructuring charges and losses at its mobile phone
venture took a toll on the bottom line, but its sales rose at a time when many
competitors are struggling for survival.

-----------------------------------------------------------------
Best Buy promotes COO Brian Dunn to chief executive
1/21/2009 9:45 AM ET
Best Buy promotes company veteran President Brian Dunn to chief executive at a
time when the company is grappling with consumers' cutting back on
discretionary spending.

-----------------------------------------------------------------
Israel Stocks: Tel Aviv lower on Moody's gloomy bank view
1/21/2009 9:16 AM ET
Israeli stocks slumped broadly on Wednesday, led lower by the banks and other
financial companies, as Moody's said in a report that the "fundamental credit
outlook for the Israeli banking industry" over the next 12 to 18 months "is
negative."

Markets Wednesday, 01/21/2009

Date: Wed, 21 Jan 2009 17:31:03 -0500
| Dow : 8228.10 up 279.01 | S & P : 840.24 up 35.02
|
| NASDAQ: 1507.07 up 66.21 | Bond (10Y): 2.52%, 110.59

MARKETS:
Big rally on Wall Street
Stocks bounce back on IBM's earnings and strength in bank stocks.

US Stocks Rise; Financials, Energy Stocks Bounce

US Stocks Rise; Financials, Energy Stocks Bounce

U.S. stocks rose Wednesday as the financial sector bounced after one
of its biggest drops ever and as oil prices helped the energy sector
recover some of
its recent losses. The Dow Jones Industrial Average rose 99 points, or
0.7%, to 8046, and has spent much of the session bouncing around the
psychologically significant 8000 level. The blue-chip measure was
helped by gains in all its financial components and in International
Business Machines, which climbed 9%
after reporting strong earnings. The Dow's big losers included General
Motors, which fell 8% after reporting an 11% decline in 2008 sales and
forecasting a bleak first quarter as well.

STOCKS RISE AS ANALYSTS MULL OBAMA'S FIRST STEPS TO STEM
CRISIS

Financials stocks steer a broad market comeback after the prior day's
rout that had the sector matching its worst day ever and the Dow Jones
Industrial Average tallying its worst Inaugural Day performance in its
history.

NEW BANK-RESCUE PLAN ON TAP, TREASURY NOMINEE GEITHNER SAYS

President Obama is working on a comprehensive bank-rescue package that will be
unveiled in the next few weeks, according to Timothy Geithner, Obama's nominee
to be the nation's next Treasury secretary.

BANK STOCKS MAY FALL FURTHER IF GOVERNMENT INTERVENTION GROWS

Bank stocks may fall further, despite a 40% plunge so far this year,
some analysts say.

GM SAYS GLOBAL SALES DOWN 11% IN 2008; TOYOTA TAKES LEAD

General Motors Corp., after a seven-decade reign atop the automotive heap,
relinquishes its global sales crown to Toyota Motor Corp., as growth in
emerging markets can't overcome a sharp drop in North America.

HOUSING STILL HEADING FOR A BOTTOM, BUT SHOULD GET THERE IN '09

Housing will not look much better at the end of this year than it does
now, but "we do expect '09 will be the bottom," the chief economist
for the National Association of Home Builders said Tuesday.

Citigroup says lead director Richard Parsons will become chairman of board on Feb. 23, replacing Win Bischoff.

Date: Wed, Jan 21, 2009 at 4:36 PM

Citigroup says lead director Richard Parsons will become chairman of
board on Feb. 23, replacing Win Bischoff.

Breaking News Wed., January 21, 2009

Date: Wed, Jan 21, 2009 at 4:34 PM

Senate Confirms Hillary Clinton as Secretary of State [4:32 p.m. ET]

Wall Street rallies. Dow, S&P and Nasdaq jump 3% or better as IBM and bank stocks lift markets.

Date: Wed, Jan 21, 2009 at 4:02 PM

Wall Street rallies. Dow, S&P and Nasdaq jump 3% or better as IBM and
bank stocks lift markets.

Breaking News Wed., January 21, 2009

Date: Wed, Jan 21, 2009 at 4:25 PM

President Obama To Sign Executive Order Thursday to Close Gitmo Within
a Year [4:20 p.m. ET]

Obama freezes salaries of senior White House staff, tightens lobbying rules

Date: Wed, 21 Jan 2009 13:27:51 -0500

Obama freezes salaries of senior White House staff, tightens lobbying rules
1/21/2009 1:25:28 PM EDT

Breaking News Wed., January 21, 2009

Date: Wed, 21 Jan 2009 10:27:48 -0800 (PST)

President Obama Puts Freeze on Salaries of W.H. Employees Making More
Than 100K [1:26 p.m. ET]

Stocks rise as analysts mull Obama's first steps to stem crisis

Date: Wed, 21 Jan 2009 12:01:10 -0500

Stocks rise as analysts mull Obama's first steps to stem crisis

Financials stocks steer a broad market comeback after the prior day's
rout that had the sector matching its worst day ever and the Dow Jones
Industrial Average tallying its worst Inaugural Day performance in its
history.

TREASURY NOMINEE GEITHNER PLEDGES TARP REFORM

Timothy Geithner, President Obama's nominee for the post of Treasury
Secretary, promises top-to-bottom reform of the government's financial
market rescue plan.

GM SAYS GLOBAL SALES DOWN 11% IN 2008; TOYOTA TAKES LEAD

General Motors Corp., after a seven-decade reign atop the automotive
heap, relinquishes its global sales crown to Toyota Motor Corp., as
growth in emerging markets can't overcome a sharp drop in North
America.

UNITED TECH'S FOURTH-QUARTER PROFIT EDGES UP 8% ON AEROSPACE

NEW YORK (MarketWatch) -- United Technologies Corp. said Wednesday its
fourth-quarter net income rose 8% as a robust aerospace market offset
a falloff in construction-related demand for its elevators, air
conditioning and building-security products.

FUTURES MOVERS: CRUDE-OIL FUTURES RISE ABOVE $41 A BARREL

Crude-oil futures rise above $41 a barrel early Wednesday, buoyed by
signs that the OPEC cartel is implementing cuts in its oil output.

HOUSING STILL HEADING FOR A BOTTOM, BUT SHOULD GET THERE IN '09

Housing will not look much better at the end of this year than it does
now, but "we do expect '09 will be the bottom," the chief economist
for the National Association of Home Builders said Tuesday.

Treasury pick Geithner, calling for 'most forceful course,' tells Senate Obama rescue plan is critical, vows to reform bank bailout.

Date: Wed, 21 Jan 2009 10:02:08 -0500

Treasury pick Geithner, calling for 'most forceful course,' tells
Senate Obama rescue plan is critical, vows to reform bank bailout.

Treasury nominee Geithner pledges aggressive action to get economy moving

Date: Wed, 21 Jan 2009 10:11:21 -0500

Treasury nominee Geithner pledges aggressive action to get economy moving

Stocks surge at open, following a better-than-expected outlook from IBM and Obama's vow to tackle the financial crisis.

Date: Wed, 21 Jan 2009 09:34:02 -0500

Stocks surge at open, following a better-than-expected outlook from
IBM and Obama's vow to tackle the financial crisis.

International

Date: Wed, 21 Jan 2009 05:01:04 -0500
TOP STORIES as of 1000 GMT -- 21 January, 2009

OBAMA ORDERS HALT TO GUANTANAMO TRIALS
In one of his first acts in office President Obama has ordered
the U.S. government to suspend prosecutions of prisoners at
Guantanamo Bay for 120 days, military officials said Tuesday.
Obama has vowed to close the naval prison at the U.S. base.
While his order does not go that far, it will stop the
prosecutions of 21 detainees facing war crimes charges.

MICHELLE OBAMA CASTS SPELL WITH IVORY GOWN
Michelle Obama dazzled on the dance floor Tuesday night at the
Neighborhood Inaugural Ball in Washington, wearing an elegant,
one-shouldered ivory gown created for her by 26-year-old
designer, Jason Wu.

WORLD (MOSTLY) CELEBRATES
Barack Obama's inauguration as the 44th U.S. President has been
accompanied by celebrations around the world.

SCHNEIDER: TONE OF SPEECH RIGHT FOR THE TIMES
President Obama's inaugural address was cooler, more measured
and reassuring than that of other presidents making it, perhaps,
the right speech for the times.

OBAMA SPEECH DRAWS ON SURPRISING SOURCES
Barack Obama, who shot from obscurity to fame based on a single
speech and then captured the White House in a campaign marked by
soaring rhetoric, delivered a restrained, sober inaugural
address Tuesday.

FIRST COUPLE WALTZ THROUGH 10 INAUGURAL BALLS
Stefanie Hurst isn't worried about someone else wearing the same
black-and-cream-colored Oleg Cassini gown that she plans to wear
to one of the official presidential inaugural balls in
Washington. She just worries about whether her frock will arrive
in time for her to wear it.

TED KENNEDY COLLAPSES AT INAUGURAL LUNCH
Senator Ted Kennedy, D-Massachusetts, collapsed Tuesday
afternoon during a luncheon held for President Barack Obama in
the Capitol's Statuary Hall, a senator told CNN's Dana Bash.

COMMENTARY: OBAMA THE KIND OF HERO WE NEED
President Barack Obama, our newly inaugurated 44th president,
showed the millions watching around the world and the freezing
millions there in person on the Mall why he won the election --
and why so many believe he can lead us in these troubled times.

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

ASIAN MARKETS SINK ON ECONOMIC WORRIES
Asian markets posted wide-ranging losses, with Tokyo's Nikkei,
Seoul's KOSPI and Hong Kong's Hang Seng dropping 2 percent or
more, as investors looked beyond U.S. President Barack Obama's
historic inauguration to the battered economy he inherits.

MINING GIANT BHP BILLITON CUTS 6,000 JOBS
BHP Billiton, the world's largest mining company, said Wednesday
it will cut about 6,000 jobs due to the deteriorating outlook in
the global nickel market.

SINGAPORE ECONOMY TO SHRINK IN 2009
Singapore's economy is likely to shrink in 2009 more than the
government had forecast earlier this month, according to the
Ministry of Trade and Industry.

International

Date: Tue, 20 Jan 2009 20:01:07 -0500
TOP STORIES as of 0900 HKT -- 21 January, 2009

OBAMA: A NEW WAY FORWARD
Barack Obama uses his inaugural speech as 44th president to
deliver a hopeful but sobering assessment of what America can
become. The first African-American promised "a new way forward
based on mutual interest" to Muslims. To terrorists, he warned:
"You cannot outlast us, and we will defeat you."

WORLD (MOSTLY) CELEBRATES OBAMA'S DAY
Barack Obama's inauguration as the 44th U.S. President has been
accompanied by celebrations around the world.

TED KENNEDY COLLAPSES AT INAUGURAL LUNCH
Senator Ted Kennedy, D-Massachusetts, collapsed Tuesday
afternoon during a luncheon held for President Barack Obama in
the Capitol's Statuary Hall, a senator siad.

OBAMA PRAISED BY WORLD LEADERS
Members of the international community have welcomed Barack
Obama becoming the 44th President of the United States -- and
the first African-American to take leadership of his country.

OBAMA PROMISES BOLD ACTION ON ECONOMY
President-elect Barack Obama's inaugural address is one of the
most anticipated speeches in decades, with many expecting his
words to be chiseled into marble some day.

CHANGE WAS QUICK AT WHITE HOUSE WEB SITE
In keeping with the theme that swept President Obama into the
Oval Office, change has come to the official White House Web
site.

107-YEAR-OLD: HOPED IT WOULD HAPPEN IN MY TIME
Ann Nixon Cooper craned her neck and leaned her head forward. On
the television set across the room, Barack Obama moved forward
and put his hand on the Bible.

COMMENTARY: OBAMA THE KIND OF HERO WE NEED
President Barack Obama, our newly inaugurated 44th president,
showed the millions watching around the world and the freezing
millions there in person on the Mall why he won the election --
and why so many believe he can lead us in these troubled times.

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

OBAMA SPENDING PLAN WORRIES U.S. MARKETS
U.S. markets slipped Tuesday on banking concerns and as traders
also faced up to expected rises in government debt. With the
government deficit already exceeding $1 trillion, the rescue
plan that Obama has been touting will mean the government
auctioning off a tremendous volume of debt -- which makes
government bonds unattractive.

FIAT JOINS FORCES WITH AILING CHRYSLER
Italian car giant Fiat is joining forces with ailing U.S.
automaker Chrysler, the two companies say, in a move that will
give Fiat a large stake in one of the Big Three while supplying
Chrysler with access to new technology.

RUSSIA RESUMES GAS FLOW TO EUROPE
Russian energy giant Gazprom resumes pumping natural gas to
Europe via Ukraine, a Gazprom spokesman tells CNN. The long
dispute over gas payments was resolved after meetings between
Russia and Ukraine, negotiations Ukrainian Prime Minister Yulia
Tymoshenko described as "difficult."

Tech: IBM, other bellwethers lose ground by close

Date: Tue, 20 Jan 2009 18:00:14 -0500

Tech Stocks: IBM, other bellwethers lose ground by close
1/20/2009 5:14 PM ET
Technology stocks go into the red in early trading, with IBM Corp.
among the decliners ahead of its fourth-quarter earnings report, due
after the market close.

-----------------------------------------------------------------
Search ad spending takes rare slide in quarter
1/20/2009 5:26 PM ET
Spending on Internet search advertising, a corner of the market widely
seen as relatively sheltered from the economic downturn, fell 8% in
the fourth quarter of last year, according to a report.

-----------------------------------------------------------------
IBM posts earnings rise, sees strong growth in 2009
1/20/2009 5:21 PM ET
IBM Corp. reports fiscal fourth-quarter profit rose 12% from the
year-ago period and says it expects its earnings for 2009 to exceed
analysts' estimates.

-----------------------------------------------------------------
Analog Devices cuts sales outlook due to weak demand
1/20/2009 5:05 PM ET
Analog Devices Inc. on Tuesday said it has cut
its sales outlook for the first quarter due to weaker demand amid the
global downturn.

-----------------------------------------------------------------
Qualcomm acquires AMD's assets in $65 million deal
1/20/2009 4:59 PM ET
Qualcomm Inc. has acquired the assets that once
made up Advanced Micro Devices Inc.'s handheld business in a $65
million deal that's expected to help boost the cell phone chip maker'
multimedia capabilities.

-----------------------------------------------------------------
Mexico's Slim to invest $250 million in New York Times
1/20/2009 4:26 PM ET
New York Times Co. reaches an agreement under which companies backed
by the Mexican telecom investor Carlos Slim will invest $250 million
and could boost their holding, helping the New York media company
reduce its debt and strengthen its finances.

-----------------------------------------------------------------
Seeking to cut costs, Google ends print ads service
1/20/2009 3:43 PM ET
Google Inc. says it's discontinuing its print advertisements program,
a fledgling service that didn't mesh with the Internet company's new
focus on austerity amid the economic downturn.

-----------------------------------------------------------------
Incremental gains seen in netbooks: Bernstein analyst
1/20/2009 3:18 PM ET
The market for ultraportable laptop computers, also known as netbooks,
is seen as having some of the best potential for the PC market, but is
not likely to overwhelm the sector soon, according to a recent report.

-----------------------------------------------------------------
IBM seen remaining steady with earnings report
1/20/2009 11:16 AM ET
IBM Corp. is scheduled to deliver its fourth-quarter earnings report
after the market closes, and analysts are remaining cautious regarding
the outlook for the tech bellwether.

-----------------------------------------------------------------
Israel Stocks: Market steady; Teva in venture with Lonza
1/20/2009 10:49 AM ET
Israeli stocks closed little changed on Tuesday,
never having drifted far from the flat line, with the banks and Israel
Chemicals weaker and real estate fleshing green.

-----------------------------------------------------------------
Earnings Outlook: Nokia's quarterly results to show weak demand
1/20/2009 10:24 AM ET
Nokia Corp., the world's largest maker of mobile phones, is expected
on Thursday to report further weakness in global demand for handsets
as consumers in Western countries take longer to replace old phones
and as potential buyers in emerging markets simply can't afford them.

Markets Tuesday, 01/20/2009

Date: Tue, 20 Jan 2009 17:31:05 -0500

| Dow : 7949.09 down 332.13 | S & P : 805.22 down 44.90 |
| NASDAQ: 1440.86 down 88.47 | Bond (10Y): 2.38%, 111.91

MARKETS:
Stocks battered on recession fears
Wall Street closes at the lowest point since late November as economic
worries trump enthusiasm about the inauguration of President Barack
Obama.

Banks battered as sector matches worst day ever

Date: Tue, 20 Jan 2009 17:01:48 -0500

Banks battered as sector matches worst day ever

U.S. financial stocks are led lower by State Street Corp.'s losing
more than half its market value after the firm unveils a 71% drop in
earnings.

BANK OF AMERICA NEEDS MORE THAN $80 BILLION IN CAPITAL: FBR

Bank of America needs more than $80 billion in new common equity
capital to support the huge amount of assets on its balance sheet, an
analyst says.

MARKET SNAPSHOT: OBAMA INHERITS BATTERED MARKET; DOW DIPS BELOW 8,000

With financial stocks dragging down equities as George W. Bush exits
Washington, the market's declines are emblematic of the fact that
Barack Obama's new administration is starting from behind, at least in
terms of annualized stock-return performance.

OBAMA SAYS AMERICANS WILL MEET CHALLENGES OF WAR, ECONOMY

The new commander in chief calls on Americans to take part in a "new
era of responsibility" to meet the challenges facing the United States
at home and abroad after being sworn in as the 44th president.

IBM reports earnings of $3.28 a share, beating Wall Street projections, on $27 billion in revenue - slightly missing estimates.

Date: Tue, 20 Jan 2009 16:18:02 -0500

IBM reports earnings of $3.28 a share, beating Wall Street
projections, on $27 billion in revenue - slightly missing estimates.

Wall Street takes inaugural drubbing. Dow drops below 8,000 to 2-month low. Nasdaq, S&P 500 each drop more than 5%.

Date: Tue, 20 Jan 2009 16:02:07 -0500

Wall Street takes inaugural drubbing. Dow drops below 8,000 to 2-month
low. Nasdaq, S&P 500 each drop more than 5%.

Energy: Russian gas starts flowing via Ukraine to Europe

Date: 20 JAN 2009 19:23:37 GMT

Emerging Markets Report - Russian gas starts flowing via Ukraine to Europe

Russian gas finally starts flowing to Europe via Ukraine after a
13-day disruption, as Russia and Ukraine signed a deal resolving their
contentious energy dispute.

Oil adds $2.23 to settle at $38.74 a barrel after a volatile last day of trading for the current contract.

Date: Tue, 20 Jan 2009 15:02:08 -0500

Oil adds $2.23 to settle at $38.74 a barrel after a volatile last day
of trading for the current contract.

Dow drops below 8,000 to two-month low as investors look beyond Obama's historic inauguration to the battered economy he inherits.

Date: Tue, 20 Jan 2009 15:12:05 -0500

Dow drops below 8,000 to two-month low as investors look beyond
Obama's historic inauguration to the battered economy he inherits.

State Street shares cut in half after company outlines new risks

Date: Tue, 20 Jan 2009 12:01:12 -0500

State Street shares cut in half after company outlines new risks

State Street Corp.'s stock falls 50% on Tuesday on concerns the
company may have to bring troubled investment vehicles onto its
balance sheet, a move that could force it to raise capital and
potentially dilute shareholders.

MOVERS & SHAKERS: TUESDAY'S BIGGEST GAINING AND DECLINING STOCKS

Big movers in U.S. trade include Citi, Noble Energy and State Street.
OBAMA TO BE SWORN IN AS 44TH PRESIDENT ON HISTORIC DAY

Capping a history-making run for the White House, President-elect
Barack Obama will take the oath of office at noon on Tuesday and
become the first African-American president of the United States
before a massive crowd in the nation's capital.

FUTURES MOVERS: OIL SWINGS AS FRONT-MONTH CONTRACT EXPIRES

Crude-oil futures swing between gains and losses, as investors make
last-minute trading decisions before the front-month contract expires
later today.

MEXICO'S SLIM TO INVEST $250 MILLION IN NEW YORK TIMES

New York Times Co. reached an agreement under which companies backed
by the Mexican telecom investor Carlos Slim will invest $250 million
and could boost their holding, helping the New York media company
reduce its debt and strengthen its finances.

Dow tumbles to session low - down over 200 points - immediately following President Obama's inaugural address.

Date: Tue, 20 Jan 2009 12:32:18 -0500

Dow tumbles to session low - down over 200 points - immediately
following President Obama's inaugural address.

Breaking News: Barack Obama sworn in as 44th president

Date: Tue, 20 Jan 2009 11:11:58 -0600

WASHINGTON (AP) - Barack Obama was sworn in Tuesday as the 44th U.S.
president, shattering racial barriers to become the first black leader
of a country gripped by profound economic troubles and at war in two
distant lands.

In his inaugural speech as prepared for delivery, Obama asked
Americans for a renewed commitment to service.

"What is required of us now is a new era of responsibility - a
recognition, on the part of every American, that we have duties to
ourselves, our nation, and the world, duties that we do not grudgingly
accept but rather seize gladly, firm in the knowledge that there is
nothing so satisfying to the spirit, so defining of our character,
than giving our all to a difficult task."

International

Date: Tue, 20 Jan 2009 05:02:08 -0500
TOP STORIES as of 1000 GMT -- 20 January, 2009

A CALL FOR UNITY ON EVE OF OBAMA'S MOMENT
U.S. President-elect Barack Obama has called former Republican
presidential rival John McCain a hero at a bipartisan dinner and
issued a call for politicians to put an end to partisan
politics. Obama's speech capped a Martin Luther King Jr. holiday
filled by appearances on the eve of his presidential
inauguration.

RUSSIA RESUMES GAS FLOW TO EUROPE
Russian energy giant Gazprom resumed pumping natural gas to
Europe via Ukraine on Tuesday, a Gazprom spokesman said.

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

ASIA MARKETS SLIDE; EUROPE MAKES GAINS
Asian markets slid Tuesday, as Japanese auto giant Toyota
reshuffled its top ranks in the wake of its first loss as a
public company, with Tokyo's benchmark index ending down more
than 2 percent.

NEW YORK TIMES GETS SLIM BOOST
The New York Times said it was getting $250 million in financing
from companies controlled by Mexican billionaire Carlos Slim
Helu, with the money to be used to refinance existing debt.

FUEL DEPOT BLAZE EXTINGUISHED IN JAKARTA
Firefighters extinguished a massive blaze at a fuel depot in the
Indonesian capital Monday morning after a day-long fire burned
hundreds of thousands of gallons of gasoline.

Energy: Stocks in Canada fall, as rates cut to record low

Date: 20 JAN 2009 15:43:15 GMT

Stocks in Canada fell sharply, as the Bank of Canada cut its benchmark
interest rate to a record low, saying that the economy is now in
recession.

Stocks open flat on Inauguration Day as worries about the health of the banking sector offset enthusiasm over new administration.

Date: Tue, 20 Jan 2009 09:31:04 -0500

Stocks open flat on Inauguration Day as worries about the health of
the banking sector offset enthusiasm over new administration.

Market Monday, 01/19/2009

Date: Mon, 19 Jan 2009 17:31:05 -0500
| Dow : 8281.22 up 68.73 | S & P : 850.12 up 6.38 |
|
|NASDAQ: 1529.33 up 17.49 | Bond (10Y): 2.33%, 112.28 |
-----------------------

MARKETS:
Wall Street's inauguration rally
Investor euphoria could propel stocks this week, but the longer-term
outlook is less upbeat.

Oil falls on gas deal, Gaza cease-fire
Crude oil eases as Russian gas supply concerns let up, but the
weakening global economy continues to hurt demand.

N.Y. Times, Mexican telecom exec Slim talk investment: Journal

Date: Mon, 19 Jan 2009 12:01:17 -0500
N.Y. Times, Mexican telecom exec Slim talk investment: Journal

New York Times Co. is in talks under which the Mexican
telecommunications investor Carlos Slim would invest in the publisher,
possibly through an issue of preferred stock, people familiar with the
matter told The Wall Street
Journal.

RICHEMONT POSTS 7% DROP IN QUARTERLY SALES; SEES NO RECOVERY

Compagnie Financiere Richemont SA, the world's largest jewelry group,
reports a 7% drop in third-quarter sales and says current market
conditions are the toughest it's seen since its creation 20 years ago.

LONDON MARKETS: U.K. BANKS SLAMMED IN LONDON; RBS SHARES PLUNGE 63%

London shares slammed as Royal Bank of Scotland stocks fall over 60%.

IRWIN KELLNER: OBAMA SHOULD ENCOURAGE SPENDING IN SPEECH

When it comes to the economy, Barack Obama should use his inaugural
address to set the stage for some bold initiatives. To be successful,
he must walk the line between not mincing words on how bad the economy
is, and being so pessimistic that he talks the financial markets into
another swoon.

Energy: Bank help European shares advance; Barclays shares soar

Date: 19 JAN 2009 08:52:50 GMT

European shares move higher, with banks advancing after the U.K.
government announces a new package of measures to support the
country's financial system and Barclays reassured on profit trends.

International

Date: Mon, 19 Jan 2009 05:02:07 -0500
TOP STORIES as of 1000 GMT -- 19 January, 2009

OBAMA: 'THE DREAM OF OUR FOUNDERS WILL LIVE ON'
Inauguration revelry has begun as thousands of people packed the
National Mall in Washington for a concert featuring big-name
stars. It was nothing but good vibes for Barack Obama -- a
respite for the incoming president who faces huge problems after
he takes office Tuesday.

BODIES DUG FROM RUBBLE DURING GAZA CEASE-FIRE
Palestinians in a Gaza neighborhood are using their hands and
bulldozers to unearth bodies of people killed during an Israeli
attack that happened a week into Israel's three-week Gaza
offensive, reports CNN's Karl Penhaul.

CHURCH ROOF COLLAPSES KILLING WORSHIPPERS
Brazilian firefighters used search dogs to comb the rubble of a
church early Monday after the building's roof collapsed during a
service, killing seven and injuring nearly 100, authorities said
in Sao Paulo said.

UK ANNOUNCES SECOND BANK BAILOUT
The British government Monday announced new plans to help
British banks affected by the global financial crisis, only
months after a previous multi-billion-dollar bank bailout.

WOMAN IS CHINA'S 2ND 2009 BIRD FLU FATALITY
A 27-year-old woman from eastern China has died of bird flu,
Chinese authorities said, making her the second person to die
this year from the deadly virus. Two tests on the woman were
positive for H5N1 avian influenza, said the ministry, which did
not say how she might have contracted the virus.

EX-PRESIDENT PLEADS NOT GUILTY IN GRAFT CASE
Former Taiwanese President Chen Shui-bian pleaded not guilty to
corruption charges Monday during a pre-trial hearing in Taipei.

TAIWAN CITIZENS GET SHOPPING VOUCHERS
More than 90 percent of eligible Taiwan residents took up the
government's offer of 3600 New Taiwan Dollars (USD $108) to go
shopping, government officials said Monday.

GAS SUPPLIES GO UP IN SMOKE IN DEPOT BLAZE
Firefighters extinguished a massive blaze at a fuel depot in the
Indonesian capital Monday morning after a day-long fire burned
hundreds of thousands of gallons of gasoline.
-----------------------------------
BUSINESS

CHANGES EYED ON U.S. BANK BAILOUT
As the U.S. economy worsens and banks rack up multi-billion
dollar losses, incoming President Barack Obama will face tough
choices in deciding what to do with the $350 billion remaining
in the bailout plan.

RUSSIA, UKRAINE AGREE TO RESUME GAS FLOW
The prime ministers of Russia and Ukraine reached an agreement
to resume gas supplies to Europe by early next week.

Energy: Crude-oil futures dip after Israel ceasefire, Ukraine gas deal

Date: 19 JAN 2009 13:01:44 GMT

Crude-oil futures edged lower Monday as a cease-fire in the Gaza Strip
and a pact between Russia and Ukraine over natural-gas exports helped
ease worries about energy supplies.

International

Date: Sun, 18 Jan 2009 20:02:08 -0500
TOP STORIES as of 0900 HKT -- 19 January, 2009

BODIES DUG FROM RUBBLE DURING GAZA CEASE-FIRE
Palestinians in Gaza's Zeitoun neighborhood are using their bare
hands and bulldozers to unearth 23 bodies of people killed
during an Israeli attack that happened a week into Israel's
three-week Gaza offensive: report

OBAMA'S APPEAL GROWS AS INAUGURATION NEARS
A new poll suggests President-elect Barack Obama is more popular
than ever ahead of Tuesday's inauguration with 84 percent of
Americans saying they approve of how he has handled the
transition.

HAMAS AGREES ONE-WEEK CEASE-FIRE IN GAZA
Hamas militants have agreed to a one-week cease-fire against
Israeli forces in Gaza. The announcement Sunday came hours after
Israel halted its offensive against the militant group which it
blames for rocket attacks against Israeli towns. At least 1,200
people have been killed during the 22-day conflict.

CRASHED PLANE'S RECORDERS IN 'EXCELLENT' SHAPE
An US Airways jetliner that landed on the Hudson River Thursday
was successfully hoisted out of the water late Saturday,
following several hours of work by crews in frigid conditions.

OPPOSITION: NO 'SUICIDE' DEAL WITH MUGABE
Zimbabwe's President Robert Mugabe warned that a meeting Monday
with the leader of the opposition will be the last before he
forms a government.

RUSSIA, UKRAINE AGREE TO RESUME GAS FLOW
The prime ministers of Russia and Ukraine reached an agreement
early Sunday morning to resume gas supplies to Europe by early
next week.

CHINA CONFIRMS GIRL INFECTED WITH BIRD FLU
A 2-year-old girl in northern China is in critical condition
after testing positive for bird flu, state media said Sunday. It
is China's second confirmed case of the virus this month.

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.

-----------------------------------------------
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: Ukraine, Russia reportedly reach deal on natural gas

Date: 18 JAN 2009 16:08:14 GMT

Russia and Ukraine say they've reached a deal to resume the
distribution of natural gas to Europe, ending a dispute that has
disrupted the gas flow for about two weeks, hampering economic
activity and leaving some people unable to heat their homes.

Energy: U.S. 4th-quarter VC funding fell 30% to lowest total in 3 years

Date: 18 JAN 2009 09:02:09 GMT

Venture-capital investment in U.S. companies fell 30% in the fourth
quarter, with the total marking the lowest quarterly VC investment in
three years and information technology in particular recording the
lowest investment since 1998, Dow Jones Venture Source reported.

International

Date: Sun, 18 Jan 2009 05:01:04 -0500
TOP STORIES as of 1000 GMT -- 18 January, 2009

ROCKETS FIRED INTO ISRAEL AFTER CEASE-FIRE
Militants fire six rockets into southern Israel and exchange
gunfire with troops in northern Gaza Sunday, hours after Israel
declares a unilateral cease-fire in the Palestinian territory,
an Israeli spokesman says.

ADULATION FOR OBAMA ON HISTORIC TRAIN RIDE
President-elect Barack Obama said he gets his inspiration from
President Abraham Lincoln, so it's only fitting that the
president-elect would retrace Lincoln's 1861 trip from
Philadelphia to Washington.

MUGABE: POWER-SHARING TALKS MAKE OR BREAK
Zimbabwe's President Robert Mugabe warned that a meeting Mondaywith
the leader of the opposition will be the last before he
forms a government.

RUSSIA, UKRAINE AGREE TO RESUME GAS FLOW
The prime ministers of Russia and Ukraine reached an agreement
early Sunday morning to resume gas supplies to Europe by early
next week.

CHINA CONFIRMS GIRL INFECTED WITH BIRD FLU
A 2-year-old girl in northern China is in critical condition
after testing positive for bird flu, state media said Sunday. It
is China's second confirmed case of the virus this month.

CRIPPLED JETLINER HOISTED FROM HUDSON RIVER
An US Airways jetliner that landed on the Hudson River Thursday
was successfully hoisted out of the water late Saturday,
following several hours of work by crews in frigid conditions.

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.

SIX GUANTANAMO DETAINEES RELEASED
Six detainees were released from the U.S. military's detention
center at Guantanamo Bay, Cuba, the Department of Defense said
Saturday.
-----------------------------------------
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.