Alanat News

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WASHINGTON: Democratic congressional leaders on Thursday said that the executives of America's foundering automakers had failed miserably in persuading Congress or the public that $25 billion in aid from the government would be well spent and they gave industry leaders 12 days to come back with plans showing otherwise.

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A U.S. appeals court on Thursday blocked Royal Dutch Shell from drilling oil wells off Alaska's North Slope after finding that the Interior Department had failed to conduct an environmental study before issuing the company's drilling permit.
In a long-awaited ruling, the court said that the Minerals Management Service, …

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NEW YORK: After rising to dizzying heights this summer, the oil market is suffering a hair-raising drop with no apparent end in sight.
Oil prices dropped below $50 a barrel on Thursday for the first time in 22 months. The price has shed close to $100 in four months as an ailing global economy pares consumption.
The slide …

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As a new bout of fear gripped the financial markets, U.S. stocks fell sharply again on Thursday, continuing a months-long plunge that has wiped out the gains of the last decade.
The credit markets seized up as confidence in the nation's financial system ebbed and people rushed to put money in Treasuries, the safest of

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HONG KONG: Asian stock markets followed New York's plunge on Friday morning but then rebounded when Finance Minister Shoichi Nakagawa of Japan described recent turbulence in currency and equity markets as undesirable and said that governments should be prepared to take action.
Although Nakagawa did not propose a specific …

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HONG KONG: Citigroup is scrambling to cut costs in the face of collapsing investor confidence, but the embattled bank is unlikely to retreat from Asia, its strongest-performing region.
Citigroup is cutting 52,000 jobs worldwide and reducing costs by a fifth, but it is reluctant to give up any of its hard-won presence in a region …

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For months, the nation's largest banks have struggled to regain investors' trust. In the center of the vortex is Citigroup, whose precipitous stock-market plunge accelerated on Thursday, sending shock waves through the financial world.
The shares slumped 26 percent Thursday; the bank has lost half its value in just …

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PARIS: Vowing to protect French industry from foreign predators and a worsening economic slump, President Nicolas Sarkozy introduced a €20 billion strategic investment fund on Thursday and announced its first investment.
The idea for a fund, worth $25 billion, which Sarkozy floated a month ago without providing details, …

KENOSHA, Wis. —  A 10-year-old Kenosha girl says she didn’t mean any harm, but she’s in trouble anyway for drafting a so-called “killing spree hit list.”
A police report said officers were called to McKinley Middle School Monday after a teacher caught the girl passing a note and found it listed 25 people, including the teacher, who “were going to be killed or maybe killed.”
The back listed others who would not be hurt.
Police said the girl told them she was upset at students who accused …

A U.S. senator introduced a resolution Thursday calling on Iran to allow the FBI to dig deeper into the 2007 disappearance of former agent Robert Levinson.
Sen. Bill Nelson’s resolution asks Iranian investigators to confer with the FBI and for the Iranian government to provide the assistance it has pledged to Levinson’s family, who have kept up a campaign to locate him for nearly two years.
The Levinsons live in Coral Springs, Fla. Nelson, a Democrat, is Florida’s senior senator.
Levinson, 60, was …

JOLIET, Ill. —  A judge dismissed felony gun charges Thursday against Drew Peterson after prosecutors refused to hand over internal documents leading to their decision to arrest the former Bolingbrook police sergeant, who is suspected in the disappearance of his wife.
In a tense hearing, Judge Richard Schoenstedt ruled that prosecutors must comply with his order to give defense attorneys the documents, which are communication between Illinois State Police and the Will County state’s …

PITTSBURGH —  A judge denied bail on Thursday for a woman accused of killing an FBI agent during a drug raid that led to her husband’s arrest on cocaine-dealing charges.
Christina Korbe, 40, was arraigned early Thursday on a homicide charge in the shooting death of Special Agent Sam Hicks on Wednesday.
Korbe told investigators that she thought her home was being burglarized and that she was shooting at an intruder.
Hicks, 33, had been an FBI agent for just 20 months but was considered …

WASHINGTON —  A federal judge ordered the release of five Algerian terror suspects held without charges at Guantanamo Bay prison for almost seven years.
In the first civilian court ruling for terror suspects challenging their detention, U.S. District Judge Richard J. Leon said Thursday that the five men could not be held indefinitely as enemy combatants.
One of the men to be released is Lakhdar Boumediene, whose landmark Supreme Court case last summer gave the Guantanamo detainees …

BAGHDAD —  An Al Qaeda in Iraq leader blamed in the 2004 abduction and murder of an Army reservist from Ohio and other deadly attacks over several years was killed in an American raid in Baghdad, the U.S. military said Thursday.
U.S. forces acting on a tip carried out the raid Nov. 11 in Baghdad’s Mansour neighborhood, killing Hajji Hammadi and another armed insurgent, the military statement.
The Iraqi was accused in the abduction and killing of Army Reserve Staff Sgt. Matt Maupin, …

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It might have gone bankrupt and its currency might have plummeted, but travelers from Britain and the Nordic countries are increasingly visiting Iceland. Recent economic turmoil in the country means these opportunistic tourists are able to enjoy an extremely favorable exchange rate.
There was a 20 percent increase of British …

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LONDON: With the United States, Japan and Britain - which combine for nearly 40 percent of the global economy - facing the threat of deflation, it's going to be just too easy for one, two or all three of them to get the policy response horribly wrong.
The global economy is so connected, and our experience with similar

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PARIS: Vowing to protect French industry from foreign predators and a worsening economic slump, President Nicolas Sarkozy introduced a €20 billion strategic investment fund on Thursday and announced its first investment.
The idea for a fund, worth $25 billion, which Sarkozy floated a month ago without providing details, is the latest in a string of government measures to help the economy, but clearly not the last. Also on Thursday, the president promised a stimulus package in

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WASHINGTON: Democratic leaders said the executives of U.S. automakers had failed to persuade Congress that $25 billion in government aid would be well spent and they gave industry leaders 12 days to come back with a plan showing otherwise.
The House Speaker, Nancy Pelosi of California, and the Senator majority leader, Harry …

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NEW YORK: As Americans prepare for the Thanksgiving holiday on Thursday - and the rite of the day-after-Thanksgiving rush to the stores - investors are worrying about whether the financial system is again in danger of collapse.
Just over a month after the world's major economies agreed to do what was needed to keep the …

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PARIS: The worsening economy is squeezing Europe's flag carriers, with dwindling sales of premium-class tickets starting to take their toll.
On Thursday, Air France-KLM followed British Airways and Lufthansa in reporting a steep fall in quarterly earnings, largely because of the asphyxiating price of oil last summer. …