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AP - The market's positive reaction to President-elect Barack Obama's choice of treasury secretary was gratifying, a top Obama adviser said Sunday, and set the stage for a massive economic aid plan in January.
AP - German Chancellor Angela Merkel urged companies Sunday not to slash jobs as a result of the global financial crisis, warning that businesses will not be able to rebound once the turmoil eases.
Reuters - U.S. President-elect Barack Obama may consider delaying an election promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday.
AFP - New York Federal Reserve president Timothy Geithner has been selected to become US Treasury Secretary amid the global financial crisis, a key advisor to president-elect Barack Obama said Sunday.
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.
Reuters - U.S. President-elect Barack Obama has chosen seasoned policymakers Timothy Geithner and Lawrence Summers as his two top economic lieutenants to direct the fight to rescue the economy and stem the worst financial crisis in more than 70 years.
Reuters - Leaders from Asia and the Americas promised on Saturday to push for a global free trade deal and reform international lenders in an effort to keep the world from sliding into a deep recession.
AP - President-elect Barack Obama will announce the leaders of his economic team Monday, naming Timothy Geithner as treasury secretary and Lawrence Summers to direct the National Economic Council, transition officials said.
Reuters - President-elect Barack Obama has picked two experienced policymakers, Timothy Geithner and Lawrence Summers, to spearhead the fight against the global financial crisis -- appointments which should bring some cheer to world markets
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.
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.
AP - Mexico says its yearly growth rate dropped to 1.6 percent in the third quarter, its slowest rate since 2003, as the U.S. economy stalls.
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