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Top World News

Obama warns of dire consequences without stimulus (AP)

President-elect Barack Obama speaks about the economy at George Mason University in Fairfax, Va., Thursday, Jan. 8, 2009. (AP Photo/Charles Dharapak)AP - President-elect Barack Obama urged dubious lawmakers Thursday to work with him day and night, on weekends if necessary to approve the largest taxpayer-funded stimulus ever, warning in almost apocalyptic terms that a dire economic future was certain without it.


Obama tax plan runs into opposition in Senate (AP)

President-elect Barack Obama arrives with Nancy Killefer, his appointee as White House Chief Performance Officer, during a news conference at his transition office in Washington, January 7, 2009. (Jason Reed/Reuters)AP - President-elect Barack Obama's proposed tax cuts ran into opposition Thursday from senators in his own party who said they wouldn't do much to stimulate the economy or create jobs.


 

Business News

Market recovers ground after mortgage deal news (Reuters)

Traders work on the floor of the New York Stock Exchange January 8, 2009. (Brendan McDermid/Reuters)Reuters - The Nasdaq climbed to a session high on Wednesday, while the SP 500 turned positive and the Dow pared losses following news that Citigroup Inc will support legislation to stem foreclosures.


Wal-Mart and other retailers warn after weak December (Reuters)

A customer shops at a Wal-Mart Supercenter in Rogers, Arkansas, June 5, 2008. (Jessica Rinaldi/Reuters)Reuters - Wal-Mart Stores Inc and other top U.S. retailers delivered disappointing December same-store sales and profit warnings on Thursday, sparking fresh recession concerns that hit stock and currency markets.