Automakers send proposal to Congress
Issue date: 12/3/08 Section: News
The diplomatic wrangling comes as the government faces widespread accusations of security and intelligence failures after suspected Muslim militants carried out a three-day attack across India's financial capital, killing 172 people and wounding 239.
The only surviving attacker has told police that he and the other nine gunmen had trained for months in camps in Pakistan operated by the banned Pakistani militant group Lashkar-e-Taiba.
Gloom returns to Asian, European markets on Wall Street's plunge, dismal U.S. economic
outlook
3TOKYO (AP) - Gloom and volatility returned to Asian and European markets Tuesday as investors dumped stocks following huge overnight losses on Wall Street and dismal U.S. economic reports revived fears of a global recession. Oil prices fell to three-year lows.
World markets rallied last week, but any nascent investor confidence quickly wilted after grim U.S. economic figures sent the Dow Jones industrial average plummeting nearly 700 points - or 7.7 percent - Monday, wiping out more than half of last week's big gains.
"I saw that figure this morning, and I thought: Oh, no. Here we go again," said Peter Wright, an associate at Burrell Stockbroking, as he watched Australian shares plummet from the opening bell.
Australia's central bank slashed its key interest rate Monday a full percentage point to 4.25 percent in an attempt to prevent the economy from sliding into recession. But investors took scant comfort from the move, sending the benchmark S&P/ASX 200 index down 4.2 percent to 3,528.2.
Japan's Nikkei 225 stock average tumbled 533.53 points, or 6.4 percent, to 7,863.69, and Hong Kong's Hang Seng index lost 5 percent to 13,405.85.
Obama taps Clinton, Gates for his Cabinet, seeking 'new dawn' of U.S. leadership in the world
4CHICAGO (AP) - Barack Obama promised "a new dawn of American leadership"in a troubled world, announcing a strong-willed national security team headed by Hillary Rodham Clinton, who fought him long and bitterly for the presidency, and Robert Gates, the man who has been running two wars for George W. Bush.
The president-elect on Monday said he hadn't changed his mind about bringing most U.S. combat troops home from Iraq within 16 months but added a cautionary note - he'll consult with his military commanders first.
While his new team may be a bit more centrist - some war opponents might even say hawkish - than many Obama supporters might prefer, he said the withdrawal timetable he emphasized in the presidential campaign is still "the right time frame."
Clinton, as secretary of state, and Gates, remaining as defense secretary, will be the most prominent faces - besides Obama's own - of the new administration's effort to revamp U.S. policy abroad.
At a Chicago news conference, Obama also tapped top advisers Eric Holder as attorney general and Susan Rice as ambassador to the United Nations. He named Arizona Gov. Janet Napolitano to be homeland security secretary and retired Marine Gen. James Jones as White House national security adviser.
The only surviving attacker has told police that he and the other nine gunmen had trained for months in camps in Pakistan operated by the banned Pakistani militant group Lashkar-e-Taiba.
Gloom returns to Asian, European markets on Wall Street's plunge, dismal U.S. economic
outlook
3TOKYO (AP) - Gloom and volatility returned to Asian and European markets Tuesday as investors dumped stocks following huge overnight losses on Wall Street and dismal U.S. economic reports revived fears of a global recession. Oil prices fell to three-year lows.
World markets rallied last week, but any nascent investor confidence quickly wilted after grim U.S. economic figures sent the Dow Jones industrial average plummeting nearly 700 points - or 7.7 percent - Monday, wiping out more than half of last week's big gains.
"I saw that figure this morning, and I thought: Oh, no. Here we go again," said Peter Wright, an associate at Burrell Stockbroking, as he watched Australian shares plummet from the opening bell.
Australia's central bank slashed its key interest rate Monday a full percentage point to 4.25 percent in an attempt to prevent the economy from sliding into recession. But investors took scant comfort from the move, sending the benchmark S&P/ASX 200 index down 4.2 percent to 3,528.2.
Japan's Nikkei 225 stock average tumbled 533.53 points, or 6.4 percent, to 7,863.69, and Hong Kong's Hang Seng index lost 5 percent to 13,405.85.
Obama taps Clinton, Gates for his Cabinet, seeking 'new dawn' of U.S. leadership in the world
4CHICAGO (AP) - Barack Obama promised "a new dawn of American leadership"in a troubled world, announcing a strong-willed national security team headed by Hillary Rodham Clinton, who fought him long and bitterly for the presidency, and Robert Gates, the man who has been running two wars for George W. Bush.
The president-elect on Monday said he hadn't changed his mind about bringing most U.S. combat troops home from Iraq within 16 months but added a cautionary note - he'll consult with his military commanders first.
While his new team may be a bit more centrist - some war opponents might even say hawkish - than many Obama supporters might prefer, he said the withdrawal timetable he emphasized in the presidential campaign is still "the right time frame."
Clinton, as secretary of state, and Gates, remaining as defense secretary, will be the most prominent faces - besides Obama's own - of the new administration's effort to revamp U.S. policy abroad.
At a Chicago news conference, Obama also tapped top advisers Eric Holder as attorney general and Susan Rice as ambassador to the United Nations. He named Arizona Gov. Janet Napolitano to be homeland security secretary and retired Marine Gen. James Jones as White House national security adviser.
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