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Last updated: 04:58:31 Thursday Dec 4, 2008


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  • BoE cuts interest rates, ECB decision due shortly
    LONDON - The Bank of England has slashed official interest rates by 1 percentage point, bringing the rate down to 2 percent, as it attempts to ward off a prolonged recession.   Nations:U.K.   Activities:2008 Global Recession   Source:(AP)   2008-12-04

    Central banks set for new attack on hordes of recession data
    BRUSSELS (AFP) - European central banks led the latest global onslaught against recession on Thursday with the focus on big rate cuts, boosting stocks after US-China talks promised cooperation despite strains over the yuan.   Nations:China Sweden France South Korea   People:Henry Paulson Wang Qishan   Activities:2008 Global Recession   2008-12-04

    Toll Brothers 4Q loss narrows, no 2009 forecast
    HORSHAM, Pa. - Toll Brothers Inc. said Thursday its fiscal fourth-quarter loss narrowed slightly as it took fewer write-downs on land values, but warned that fiscal 2009 revenue will fall significantly below 2008 levels.   Activities:U.S. Foreclosure Crisis   Source:(AP)   2008-12-04

    European markets surge ahead of rate decisions
    LONDON - European stock markets rose Thursday, despite a mixed performance in Asia, as investors cheered Sweden's Riksbank massive rate cut and predicted aggressive moves later from the European Central Bank and the Bank of England.   Nations:India Sweden Philippines Malaysia   Activities:Global Financial Crisis   Source:(AP)   2008-12-04

    Automakers plead with Congress; votes lacking
    WASHINGTON - Imperiled automakers and their union worked feverishly Wednesday to sell a skeptical Congress on a $34 billion aid plan, promising labor concessions and restructuring. The Senate's Democratic leader said there still weren't enough votes to tap the $700 billion federal bailout fund to prop up the foundering Big Three.   People:Alan Mulally Christopher Dodd Harry Reid Ben Bernanke Barack Obama   Activities:2008 Automakers Downturn 110th Congress 2008 U.S. Financial Rescue   2008-12-03

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    [2007-8 Oil Crisis]: Oil hits near 4-year low on weak economic news (06:40 12/4)

    [2008 Mumbai Terror Attack]: Officials: Pakistan militants masterminded attacks (06:40 12/4)

    [2008 Global Recession]: BoE cuts interest rates, ECB decision due shortly (06:40 12/4)

    [Afghan Terror War]: Suicide bombers hit Afghan southeast (06:40 12/4)

    [Second Gulf War]: Iraq officials: Car bombings in Fallujah kill 10 (06:40 12/4)

    [U.S. Foreclosure Crisis]: Toll Brothers 4Q loss narrows, no 2009 forecast (06:40 12/4)

    [Global Financial Crisis]: European markets surge ahead of rate decisions (05:40 12/4)


    [U.S.-Russia Military Relations]: Russia to send warship through Panama Canal (23:38 12/3)


    [India-Pakistan]: Official: Pakistan group leaders linked to attacks (23:28 12/3)

    [2008 Automakers Downturn]: Automakers plead with Congress; votes lacking (23:28 12/3)




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