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Reuters - U.S. President-elect Barack Obama said on Saturday he was crafting a two-year plan to fight an economic crisis of "historic proportions" and Chinese leader Hu Jintao said his country was ready to play a big role in the global effort.
Reuters - Leaders from Asia and the Americas pledged on Saturday to push for a global free trade deal and reform international lending institutions in an effort to keep the world from sliding into a deep recession.
Reuters - President-elect Barack Obama said on Saturday that he was crafting an aggressive two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.
AFP - US president-elect Barack Obama Saturday announced plans to create 2.5 million new jobs as he forged ahead in his bid to shore up the flagging economy ahead of his January inauguration.
AP - President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars.
AP - President-elect Barack Obama has moved with unusual speed to select officials for his administration, and senior Democratic officials say he intends to name Timothy Geithner as his treasury secretary as soon as Monday.
Reuters - Dutch Philips Electronics will lay-off 5 percent of its workforce at its Healthcare division as part of an accelerated cost-savings push sparked by the global economic slowdown.
AP - American investor George Soros said he would like to see Washington put $300 to $600 billion more into the $700 billion U.S. economic bailout package, the German magazine Der Spiegel reported in an advance of Monday's edition.
AFP - US President George W. Bush on Saturday assured Asia-Pacific leaders coping with the global economic crisis that recovering from the meltdown "is going to take time, but we'll recvover."
Reuters - President-elect Barack Obama said on Saturday he was crafting a two-year plan to fight an economic crisis of "historic proportions" and Chinese leader Hu Jintao said his country was ready to play a big role in the global effort.
Reuters - The financial crisis that has engulfed many top banks is spiraling into a broader economic crisis that has yet to peak, International Monetary Fund's top economist Olivier Blanchard told a Swiss newspaper on Saturday.
Reuters - The U.S. economy needs additional support measures of between $300 billion and $600 billion to help it withstand the financial crisis, U.S. billionaire investor George Soros was quoted as saying by a German weekly.
AFP - US President George W. Bush, bidding farewell to the international stage, on Saturday offered a sweeping defense of free markets as leaders from across the Pacific rim vowed to resist protectionism.
Bloomberg - Nov. 22 (Bloomberg) -- President-elect Barack Obama picked
Timothy Geithner, head of the Federal Reserve Bank of New York,
to be his Treasury secretary, with Lawrence Summers getting a
senior White House role, a Democratic aide said.
AFP - The economic team of US president-elect Barack Obama came into view as fears mounted on the global financial crisis and more mass job cuts loomed worldwide.
Reuters - Citigroup Inc has been talking in recent days to the U.S. Treasury Department and the Federal Reserve about its options as its share price sinks, a person familiar with the matter said.
AFP - US President George W. Bush and Chinese President Hu Jintao on Friday discussed the global economic crisis and efforts to speed the process of ending North Korea's nuclear programs, the White House said.
Reuters - Two more Broadway shows fell by the wayside this week but the head of an industry trade association said it was part of natural selection in a tough business rather than the result of the economic crisis.
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