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U.S. job losses worst since 1974 as downturn deepens

WASHINGTON, Dec. 5, 2008 (Reuters) — U.S. employers axed payrolls by 533,000 jobs in November, the most in 34 years and far more than expected, government data on Friday showed, as the year-old recession hammered every corner of the U.S. economy. ...  > full story
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Bailout still faces challenges: Paulson

BEIJING, Dec. 5, 2008 (Reuters) — The United States has made clear progress in steadying its financial system, thanks in part to a $700 billion bailout fund authorized by Congress, but the rehabilitation process still faces many challenges, Treasury Secretary Henry Paulson said on Friday. ...  > full story
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Obama laying the groundwork for health reform

WASHINGTON, Dec. 5, 2008 (Reuters) — President-elect Barack Obama has begun laying the groundwork for overhauling the troubled U.S. healthcare system, reaching out to interest groups and building grass-roots support for the huge undertaking. ...  > full story
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Fidel Castro says Cuba could talk with Obama

HAVANA, Dec. 5, 2008 (Reuters) — Cuba's former leader Fidel Castro said on Thursday his country could talk to U.S. President-elect Barack Obama, in Havana's latest overture to the incoming Democratic administration in Washington. ...  > full story
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U.S. expects hard North Korea talks

SINGAPORE, Dec. 5, 2008 (Reuters) — Top U.S. nuclear envoy Christopher Hill said on Friday he expects difficult six-party talks next week on North Korea's nuclear disarmament and that more work needs to be done to iron out verification details. ...  > full story
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China, U.S. pledge cooperation after "robust" talks

BEIJING, Dec. 5, 2008 (Reuters) — China and the United States pledged on Friday to boost efforts to tackle the turmoil engulfing global markets and to continue high-level cooperation when President-elect Barack Obama takes office. ...  > full story
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AT&T cuts 12,000 jobs

NEW YORK, Dec. 4, 2008 (Reuters) — Top U.S. phone company AT&T Inc said it will eliminate 12,000 jobs, or about 4 percent of its workforce, in a fresh wave of cuts to cope with an economic downturn that has exacerbated a decline in traditional phone sales. ...  > full story
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Iraq Presidency Council approves U.S. troop pact

BAGHDAD, Dec. 4, 2008 (Reuters) — Iraq's Presidency Council has approved a security pact with the United States that paves the way for a complete U.S. troop pullout by the end of 2011, a spokesman for the council said on Thursday. ...  > full story
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Palestinians recount abuses in West Bank jails

HEBRON, West Bank, Dec. 4, 2008 (Reuters) — Allegations of torture, arbitrary arrest and other abuses of due legal process have long been common from Palestinians in the West Bank. ...  > full story
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Layoffs mount as crisis drags on

SINGAPORE, Dec. 4, 2008 (Reuters) — Credit Suisse and Nomura Holdings announced big job cuts on Thursday, further evidence the global financial crisis is unrelenting for an industry battered by heavy losses and weak markets. ...  > full story
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World News

Blast in NW Pakistan kills at least six, wounds 75

PESHAWAR, Pakistan, Dec. 5, 2008 (Reuters) — An explosion in the Pakistani city of Peshawar on Friday killed at least six people and wounded 75, according to North West Frontier Province Information Minister Mian Iftikhar Hussain. ...  > full story

Passengers rescued from Antarctic cruise ship

BUENOS AIRES, Dec. 5, 2008 (Reuters) — More than 80 passengers and some crew members were evacuated on Friday from a luxury Antarctic cruise ship that ran aground the previous day during a trip to observe seals, penguins and whales in the area. ...  > full story

Congo agrees to peace talks with eastern rebels

GOMA, Congo, Dec. 5, 2008 (Reuters) — Congo's government will meet eastern Tutsi rebels in Nairobi, Kenya on Monday for their first direct talks to formalize a ceasefire and discuss a peace process, Foreign Minister Alexis Thambwe Mwamba said on Friday. ...  > full story

Overzealous cadres overwhelm China quake victims

BEIJING, Dec. 5, 2008 (Reuters) — Local officials who are over-eager to meet earthquake reconstruction targets are making survival more difficult for victims of a devastating quake in China's Sichuan province earlier this year, state radio said on Friday. ...  > full story

Politics

Bush says Iran nuclear program remains threat

WASHINGTON, Dec. 5, 2008 (Reuters) — President George W. Bush said Friday that Iran's nuclear program remained a threat to peace and the United States would not allow Tehran to develop an atomic weapon. ...  > full story

Crisis likely to worsen before it improves: Obama

WASHINGTON, Dec. 5, 2008 (Reuters) — President-elect Barack Obama said on Friday that the economic crisis is likely to get worse before it improves as he called for a stimulus plan to create jobs over the next two years. ...  > full story

W.House says working to fix housing, credit markets

WASHINGTON, Dec. 5, 2008 (Reuters) — The White House said on Friday it will continue working to fix the U.S. credit and housing markets after a new government report showed employers last month cut the highest number of jobs in more than three decades. ...  > full story

Rice says Afghanistan policy review nearly complete

COPENHAGEN, Dec. 5, 2008 (Reuters) — U.S. Secretary of State Condoleezza Rice on Friday said the Bush administration's review of its policy for Afghanistan is almost complete. ...  > full story

Business

Hartford soars on higher outlook, strong capital

NEW YORK, Dec. 5, 2008 (Reuters) — Hartford Financial Services Group Inc shares soared as much as 52 percent on Friday after the company boosted its 2008 profit forecast and said it had more than enough capital to withstand significant further deterioration in equity markets. ...  > full story

Late mortgage payments and foreclosures hit record

NEW YORK, Dec. 5, 2008 (Reuters) — Late mortgage payments and the rate of home loans in foreclosure rose to record highs in the third quarter, threatening to escalate as the recession erases jobs and further strains homeowners, the Mortgage Bankers Association said on Friday. ...  > full story

Pimco says jobs point to dismal Q4

NEW YORK, Dec. 5, 2008 (Reuters) — Mohamed El-Erian, the chief executive of bond giant Pacific Investment Management Co., or Pimco, said the 533,000 drop in U.S. non-farm payrolls in November points to a contraction of gross domestic product of 4 or 5 percent in the fourth quarter. ...  > full story

Merrill shareholders OK Bank of America takeover

NEW YORK, Dec. 5, 2008 (Reuters) — Shareholders of Merrill Lynch & Co on Friday voted to approve the company's acquisition by Bank of America Corp , Merrill said. ...  > full story

Science

"Big Bang" collider repairs to cost up to $29 million

GENEVA, Dec. 5, 2008 (Reuters) — Repairing the giant particle collider built to simulate the "Big Bang" could cost up to 35 million Swiss francs ($29 million), the European Organization for Nuclear Research (CERN) said on Friday. ...  > full story

China, Russia to send probes to Mars next year

BEIJING, Dec. 4, 2008 (Reuters) — China will team up with Russia to launch two satellite probes to take pictures of Mars and one of its small moons in October next year as it seeks to cement its place in the select ranks of global space powers. ...  > full story

Gene may open door for new sickle cell therapies

CHICAGO, Dec. 4, 2008 (Reuters) — U.S. researchers have discovered a gene switch that could lead to better treatments for sickle cell disease and thalassemia, two inherited blood disorders that affect millions of people, they said on Thursday. ...  > full story

NASA delays robot Mars life-search mission

WASHINGTON, Dec. 4, 2008 (Reuters) — NASA said on Thursday that it will postpone by two years the planned launch of a major mission to study whether Mars was ever capable of harboring life, citing development and testing delays. ...  > full story

Entertainment

Paris robbers steal millions from jeweller to stars

PARIS, Dec. 5, 2008 (Reuters) — Armed robbers stole gems worth 85 million euros ($108 million) from luxury jewellers in the heart of Paris, during a raid described by French media on Friday as the most lucrative heist in France's history. ...  > full story

Recession puts economic shine on movie comedies

LOS ANGELES, Dec. 5, 2008 (Reuters) — With the U.S. economy slogging through a recession, Hollywood expects comedies to rule the box office as moviegoers try to escape their woes. ...  > full story

Boy George guilty of imprisoning male escort

LONDON, Dec. 5, 2008 (Reuters) — British singer Boy George was found guilty on Friday of falsely imprisoning a Norwegian male escort by handcuffing him to a wall. ...  > full story

What's age got to do with it? Tina Turner still terrific

NEW YORK, Dec. 5, 2008 (Billboard) — There's always been something larger than life about Tina Turner, but sometimes these realizations don't actually hit home until one sees the R&B dynamo suspended 30 feet above a crowd of 15,000 people. On a hydraulic lift. While wearing five-inch heels. ...  > full story

Sports

Hatton weighs in on the De La Hoya-Pacquiao fight

LAS VEGAS, Dec. 5, 2008 (Reuters) — Briton Ricky Hatton is eyeing a fight with the winner of Saturday's welterweight clash between Oscar De La Hoya and WBC lightweight champion Manny Pacquiao. ...  > full story

U.S. sports leagues prepping for worse 2009

NEW YORK, Dec. 5, 2008 (Reuters) — Next year will reveal whether recession-weary consumers and companies open their wallets to support their favorite athletes and teams, but many sports are already planning worst-case scenarios. ...  > full story

Spurs cruise to victory over Nuggets

LOS ANGELES, Dec. 5, 2008 (Reuters) — The high-scoring trio of Tim Duncan, Tony Parker and Manu Ginobili led the San Antonio Spurs to a 108-91 victory over the Denver Nuggets on Thursday. ...  > full story

Rivers throws three TDs as Chargers rout Raiders 34-7

LOS ANGELES, Dec. 5, 2008 (Reuters) — The San Diego Chargers dominated division rivals Oakland 34-7 on Thursday to keep their slim postseason hopes alive. ...  > full story
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  • Pimco's El-Erian: U.S. payrolls point to weak Q4 GDP
    Dec. 5, 2008 (Conde Nast Portfolio) — Mohamed El-Erian, the chief executive of bond giant Pacific Investment Management Co., or Pimco, said the 533,000 drop in U.S. non-farm payrolls in ...
  • Employers cut 533k jobs in Nov., most since 1974
    Dec. 5, 2008 (KCSJ-AM 590, Southern Colorado) — November's job losses were the steepest since December 1974, when 602,000 jobs were shed, and were much worse than forecast by analysts polled by ...
  • Survey: Layoffs may escalate
    Dec. 5, 2008 (KCSJ-AM 590, Southern Colorado) — A Business Roundtable survey found that 60 percent of 101 chief executive officers surveyed indicated they would make cuts in six months. . . New ...
  • Feds OK $775 million a year to Illinois for Medicaid
    Dec. 5, 2008 (Health Leaders) — The federal government has approved sending more than $775 million a year over the next five years to Illinois hospitals and other medical ...
  • HHS will be shepherding healthcare reform
    Dec. 5, 2008 (Health Leaders) — With 65,000 employees and a budget of $707.7 billion, the Department of Health and Human Services accounts for nearly one-quarter of all federal ...
  • Health IT weighed for economic stimulus package
    Dec. 5, 2008 (Government Health IT) — Congressional health care leaders are discussing whether to add health IT to the list of programs that would be funded under the economic stimulus ...
  • Health crisis prompts state of emergency
    Dec. 5, 2008 (Buffalo News) — Zimbabwe declared a national emergency amid a cholera epidemic and the collapse of its health care system, and state media reported Thursday that ...
  • Credit Suisse suffers losses and job cuts
    Dec. 4, 2008 (EuroNews) — If confirmation were needed about the severity of the world credit crisis, the fallout has now hit one of Switzerland's major financial names ...

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