UNITED STATES

Obama drops 'car czar' idea

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President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday.

Obama drops car czar idea

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CHICAGO - President Barack Obama has decided to form a government task force to oversee the restructuring of the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday. Obama is appointing Treasury Secretary Timothy Geithner as his designee for overseeing auto bailout loans and as co-head of the new high-level pane...
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Chavez wins re-election chance in economy's shadow

Venezuela's President Hugo Chavez promised to use a referendum victory that allows his re-election to fight crime and corruption and consolidate socialism in a nation whose oil income has fallen abruptly.
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Global lenders warn of risks to emerging markets

The International Monetary Fund and the world's big development banks warned on Friday that emerging and developing countries that lack deep pockets to protect themselves against the crushing impact of a global financial crisis may need help soon.
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One big victory, a series of setbacks

Barack Obama won a big victory when Congress agreed to his economic stimulus plan, but the new U.S. president has also suffered a series of setbacks to his No-Drama Obama image in his first weeks in office.
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Beverly Eckert 9/11 commission testimony

Beverly Eckert, one of the victims aboard the Continental Express flight 3407 which crashed Thursday night, was also the widow of Sean Rooney who died in the September 11 attacks in 2001.
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Energy Dept. paving way for quick stimulus money expenditure

With the U.S. economic stimulus package of $790 billion is set to be approved by Congress, concerns are growing at the Energy Department on how the agency will manage the quick expenditure of about $40 billion included in the package for renewable energy projects meant to boost employment.
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Sen. Gregg cites irresolvable conflicts in withdrawal

New Hampshire Republican Sen. Judd Gregg withdrew his name for consideration as President Barack Obama's nominee for Commerce of Secretary stating irresolvable conflicts related to the stimulus package and the Census.
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Some banks may need more gov't aid to stay solvent: report

Economists and other finance experts say some U.S. banks are insolvent, adding that government may need to take a bigger role allow banks to resume the lending needed to improve the economy, according to a report from the New York Times.
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Lawmakers push US stimulus plan

Spurred on by President Barack Obama, US lawmakers on Thursday prepared for final votes by week's end on an unprecedented 789-billion-dollar plan to help Americans through a painful economic crisis.
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Frank: Obama to end bailout abuses

Rep. Barney Frank, the head of the House Financial Services Committee, said Thursday the Obama administration is more trustworthy than the Bush administration to ensure that banks do not misuse money bank bailout funds.
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Digital TV officially delayed

President Obama signed the DTV Delay Act into law Wednesday night, postponing the transition to digital TV until June 12 and putting wireless companies' plans to use their 700 MHZ spectrum assets on hold.
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Viacom revenue falls 69 pct on weak ad sales

Viacom Inc.'s fourth-quarter profit fell 69%, hurt by weakness in advertising sales at MTV and other cable channels, and the company said ad revenues are likely to get worse in 2009 before they get better.
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Mubai attacks planned in Pakistan

Pakistan publicly acknowledged for the first time Thursday that last year's attack on Mumbai was largely planned on its soil and that it had arrested most of the key plotters.
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Intel 32-nm Technology gets $7 billion support

On Tuesday lntel revealed more details regarding its 32nm process technology that will allow the company to build high-performance and, from some point of view, revolutionary processors.
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U.S. Reaches $789 Bln Economic Stimulus Deal, Grills Bankers

U.S. efforts to take action on slowing business activity, joblessness and reduced credit grew on Wednesday as U.S. lawmakers moved to pump tax dollars into the economy, reduce taxes going forward and grilled top U.S. bank executives amid widespread concern.
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Fed Gears Up for $2 Trillion U.S. Debt Sale

As the U.S. prepares to sell more than $2 trillion in debt this year, the Federal Reserve Bank of New York is holding talks with several firms which would help underwrite government debt instruments for sale in auctions, according to a report.

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