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Wall Street stages late rally on Geithner news

NEW YORK, Nov. 21, 2008 (Reuters) — U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action. ...  > full story

GM cuts output, jets as U.S. demands turnaround plans

DETROIT/WASHINGTON, Nov. 21, 2008 (Reuters) — Detroit automakers began work on turnaround plans demanded by Congress in return for $25 billion in aid as General Motors Corp said it would cut production more and give up two of its controversial corporate jets. ...  > full story

Geithner rallies stocks but Citi still ailing

NEW YORK, Nov. 21, 2008 (Reuters) — President-elect Barack Obama wants New York Federal Reserve President Timothy Geithner as his Treasury secretary, news that sparked a stock market surge on Friday and fostered confidence that Obama may be taking up the U.S. economic reins before his inauguration in January. ...  > full story

Obama picks Geithner for Treasury: report

CHICAGO, Nov. 21, 2008 (Reuters) — President-elect Barack Obama has selected Timothy Geithner as Treasury secretary, charging the respected head of the New York Federal Reserve with pulling the United States out of an economic nosedive, NBC news reported on Friday. ...  > full story

Clinton accepts Obama secretary of state offer: NY Times

WASHINGTON, Nov. 21, 2008 (Reuters) — New York Sen. Hillary Clinton has accepted an offer from President-elect Barack Obama to become U.S. secretary of state, joining her former Democratic rival to help guide U.S. foreign policy, the New York Times said on Friday. ...  > full story

Obama pledges fresh view on U.S. role in world

CHICAGO, Nov. 21, 2008 (Reuters) — With his choice of Hillary Clinton as secretary of state all but certain, President-elect Barack Obama promised on Friday to bring a "fresh perspective" to U.S. relations with the rest of the world. ...  > full story

Bailout debate simmers; GM pares output, jet fleet

DETROIT/WASHINGTON, Nov. 21, 2008 (Reuters) — Detroit automakers began work on the turnaround plans demanded by Congress in return for a possible $25 billion rescue as General Motors Corp said it will cut production more deeply and drop two of its controversial corporate jets. ...  > full story

Democrats demand Big 3 offer survival plan

WASHINGTON, Nov. 21, 2008 (Reuters) — Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans. ...  > full story

Four senators reach bipartisan auto aid deal

WASHINGTON, Nov. 20, 2008 (Reuters) — Four senators have reached a bipartisan agreement on a bill to assist the struggling automotive industry, the lawmakers announced in a joint statement on Thursday. ...  > full story

Bipartisan auto aid agreement reached: aide

WASHINGTON, Nov. 20, 2008 (Reuters) — Senators Levin, Bond, Voinovich, Stabenow reached an agreement on bipartisan auto aid agreement a senate democratic aide said on Thursday. ...  > full story
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