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U.S. military takes first step to quit Iraqi cities

BAGHDAD, Jan. 3, 2009 (Reuters) — The U.S. military took a step toward pulling combat troops from Iraqi cities on Saturday, moving out of a Baghdad base that Iraqi officials said would be dismantled and converted back into a shopping mall. ...  > full story
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U.S.-installed Iraqi ex-PM says Bush "utter failure"

BAGHDAD, Jan. 3, 2009 (Reuters) — Former U.S.-installed Iraqi Prime Minister Iyad Allawi has denounced the policies of President George W. Bush as an "utter failure" that gave rise to the sectarian venom that ravaged his country. ...  > full story
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Congress faces historic challenges

WASHINGTON, Jan. 3, 2009 (Reuters) — Democrats will pack greater clout when the new Congress convenes on Tuesday but they face enormous expectations from voters as they grapple with two wars, a financial crisis and record budget deficits. ...  > full story
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Obama urges parties to work together on economy

CHICAGO, Jan. 3, 2009 (Reuters) — President-elect Barack Obama on Saturday said the struggling U.S. economy could face more challenges and urged lawmakers to act quickly on recovery proposals even as some Republicans expressed concerns about plans for a huge stimulus package. ...  > full story
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Australia rejects Guantanamo resettlement requests

SYDNEY, Jan. 3, 2009 (Reuters) — Australia has rejected all U.S. requests so far to resettle detainees from Guantanamo Bay, the most recent being on Friday night, Deputy Prime Minister Julia Gillard said on Saturday. ...  > full story
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Raul Castro says hopes too high for Obama

HAVANA, Jan. 2, 2009 (Reuters) — U.S. President-elect Barack Obama appears to be an honest and sincere man, but his election has awakened "excessive hopes" that the United States will change, Cuban President Raul Castro said in a television interview broadcast on Friday. ...  > full story
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Chrysler gets $4 billion U.S. government loan

NEW YORK, Jan. 3, 2009 (Reuters) — Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp. ...  > full story
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U.S. governors seek $1 trillion federal assistance

PHILADELPHIA, Jan. 2, 2009 (Reuters) — Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country's 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession. ...  > full story
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Private equity group buying IndyMac assets

WASHINGTON/NEW YORK, Jan. 2, 2009 (Reuters) — The assets of failed U.S. mortgage lender IndyMac are being bought by a group of private equity and hedge fund firms, including Dune Capital Management and J.C. Flowers & Co, which are putting up $1.3 billion in cash. ...  > full story
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Madoff money chase offers long road and little reward

LOS ANGELES/NEW YORK, Jan. 2, 2009 (Reuters) — Everyone caught up in the scandal of accused Wall Street swindler Bernard Madoff wants to know where the money is. ...  > full story
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World News

Thousands protest in Europe at Gaza offensive

LONDON, Jan. 3, 2009 (Reuters) — Thousands of chanting, banner-waving demonstrators marched in cities across Europe on Saturday to demand a halt to Israeli bombing in the Gaza Strip. ...  > full story

Iraq bombing highlights growing role of tribes

QARAGHOUL, Iraq, Jan. 3, 2009 (Reuters) — Tribesmen buried their dead south of Baghdad on Saturday after a suicide bomber killed at least 23 people at a feast, an incident that highlighted the growing role of tribes as provincial elections approach. ...  > full story

Taliban leader arrested in Pakistan: officials

PESHAWAR, Pakistan, Jan. 3, 2009 (Reuters) — Pakistani security agencies Saturday arrested a senior Afghan Taliban official who had been released from prison in Afghanistan in 2007 in exchange for a kidnapped Italian journalist, intelligence officials said. ...  > full story

Iraq won't be used to threaten neighbors: Maliki

TEHRAN, Jan. 3, 2009 (Reuters) — Iraq's prime minister, who started a visit to Iran on Saturday, told Iranian state television his government would not allow Iraq to be used as a base to threaten its neighbors. ...  > full story

Politics

Congress faces historic challenges

WASHINGTON, Jan. 3, 2009 (Reuters) — Democrats will pack greater clout when the new Congress convenes on Tuesday but they face enormous expectations from voters as they grapple with two wars, a financial crisis and record budget deficits. ...  > full story

Obama urges parties to work together on economy

CHICAGO, Jan. 3, 2009 (Reuters) — President-elect Barack Obama on Saturday said the struggling U.S. economy could face more challenges and urged lawmakers to act quickly on recovery proposals even as some Republicans expressed concerns about plans for a huge stimulus package. ...  > full story

U.S. gas tax needs hike, overhaul: commission

WASHINGTON, Jan. 3, 2009 (Reuters) — U.S. drivers need to pay more gas taxes and new user fees to fix crumbling roads and bridges and ease congested highways, a transportation commission is set to recommend to Congress later this month. ...  > full story

U.S. governors seek $1 trillion federal assistance

PHILADELPHIA, Jan. 2, 2009 (Reuters) — Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country's 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession. ...  > full story

Business

Chrysler gets $4 billion U.S. government loan

NEW YORK, Jan. 3, 2009 (Reuters) — Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp. ...  > full story

Private equity group buying IndyMac assets

WASHINGTON/NEW YORK, Jan. 2, 2009 (Reuters) — The assets of failed U.S. mortgage lender IndyMac are being bought by a group of private equity and hedge fund firms, including Dune Capital Management and J.C. Flowers & Co, which are putting up $1.3 billion in cash. ...  > full story

Burkle's Yucaipa buys Barnes & Noble shares

NEW YORK, Jan. 2, 2009 (Reuters) — Yucaipa Cos, a private equity firm controlled by billionaire Ron Burkle, said on Friday it had acquired an 8.3 percent stake in bookseller Barnes & Noble Inc , saying it believed the shares were undervalued. ...  > full story

Madoff money chase offers long road and little reward

LOS ANGELES/NEW YORK, Jan. 2, 2009 (Reuters) — Everyone caught up in the scandal of accused Wall Street swindler Bernard Madoff wants to know where the money is. ...  > full story

Science

Infection cuts mosquitoes' lives short

SYDNEY, Jan. 2, 2009 (Reuters) — Infecting mosquitoes with a common bacteria can cut their lives short and reduce the likelihood they will transmit dengue and other diseases, Australian researchers reported on Friday. ...  > full story

Diamonds suggest comets caused killer cold spell

WASHINGTON, Jan. 2, 2009 (Reuters) — Tiny diamonds sprinkled across North America suggest a "swarm" of comets hit the Earth around 13,000 years ago, kicking up enough disruption to send the planet into a cold spell and drive mammoths and other creatures into extinction, scientists reported on Friday. ...  > full story

Esophageal cancer linked to osteoporosis drugs

BOSTON, Dec. 31, 2008 (Reuters) — Merck's popular osteoporosis drug Fosamax and other similar drugs may carry a risk for esophageal cancer, a Food and Drug Administration official said on Wednesday. ...  > full story

Circulating fluid keeps donated kidneys healthier

BOSTON, Dec. 31, 2008 (Reuters) — Machines that send fluid circulating through a donated kidney while it is being preserved for transplant keep the organ healthier than the standard method of simply immersing it in fluid and transporting it on ice, doctors reported on Wednesday. ...  > full story

Entertainment

John Travolta's son dies in Bahamas

NASSAU, Jan. 2, 2009 (Reuters) — The teenage son of actor John Travolta died suddenly on Friday during a family vacation in the Bahamas, according to police and the family's lawyer. ...  > full story

Rapper Dr. Dre son's death due to heroin overdose

LOS ANGELES, Jan. 2, 2009 (Reuters) — The 20-year-old son of veteran rapper Dr. Dre died in August from an overdose of heroin and morphine, the Los Angeles County coroner's office said on Friday. ...  > full story

Heather Locklear in plea deal for reckless driving

LOS ANGELES, Jan. 2, 2009 (Reuters) — Actress Heather Locklear pleaded no contest on Friday to a reduced charge of reckless driving in a plea deal stemming from her arrest in September on charges of driving under the influence of prescription drugs. ...  > full story

Allman Brothers Band sets March shows at Beacon

NEW YORK, Jan. 2, 2009 (Billboard) — The Allman Brothers Band will play 10 shows at New York's Beacon Theater in March after scrapping the 2008 edition of its annual residency while frontman Gregg Allman recovered from hepatitis C. ...  > full story

Sports

Bryant bags 40 in Lakers' win over Jazz

LOS ANGELES, Jan. 3, 2009 (Reuters) — Kobe Bryant picked up right where he left off the last time he faced the Utah Jazz, scoring a game-high 40 points to pace the surging Los Angeles Lakers in their 113-100 home victory on Friday. ...  > full story

Clemmensen leads Devils over Habs

NEW YORK, Jan. 3, 2009 (Reuters) — New Jersey goaltender Scott Clemmensen stopped 33 shots to guide the Devils to a 4-1 home victory over the Montreal Canadiens on Friday. ...  > full story

Florida's Tebow files papers with NFL

MIAMI, Jan. 2, 2009 (Reuters) — Florida Gators quarterback Tim Tebow, the 2007 Heisman Trophy winner, has filed papers with the NFL ahead of this year's draft. ...  > full story

Wild's Gaborik to have hip surgery

CHICAGO, Jan. 2, 2009 (Reuters) — Minnesota Wild right wing Marian Gaborik is to have hip surgery and is expected to be sidelined for 10 weeks, the team said on Friday. ...  > full story
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Related Articles

  • FDIC Sells IndyMac, Will Share Losses
    Jan. 2, 2009 (Village Voice) — The FDIC's work on IndyMac, which it seized in July, has not been in vain! Today it announced that it will sell the troubled lender to IMB HoldCo ...
  • Investors to buy failed US bank IndyMac
    Jan. 2, 2009 (Monsters and Critics) — A group of private investors is to buy US bank IndyMac, which was seized by regulators in July, for 14 billion dollars, the Federal Deposit ...
  • IndyMac deal seen today
    Jan. 2, 2009 (LA Times) — The sale of Pasadena's IndyMac Federal Bank is likely to be announced later today, according to sources close to the savings and loan, the private ...
  • Brokers hustle for tenants
    Jan. 2, 2009 (Philadelphia Business Journal) — An insurance company has backfilled a gaping hole in an office building here that was vacated when IndyMac Bank went down for the count last ...
  • Flowers Sows Seeds
    Jan. 2, 2009 (New York Post) — Billionaire bank investor J. Christopher Flowers is closing in on the one thing that's eluded him for a year: the purchase of a distressed ...
  • Fannie says IndyMac has $1 bln in mortgage obligations: report
    Jan. 2, 2009 (Boston Globe) — Fannie Mae FNM. P FNM. N , the largest U.S. home funding company, believes that failed mortgage lender IndyMac has obligations to repurchase around ...
  • Report: IndyMac talks are postponed?
    Jan. 2, 2009 (Daily Herald, Chicago) — The Federal Deposit Insurance Corp. declined to comment on a Los Angeles Times report that talks on the sale of IndyMac Bancorp Inc.'s assets to an ...
  • Fannie Talking to FDIC About IndyMac Mortgage Buyback
    Jan. 1, 2009 (Washington Post) — Fannie Mae is in talks with the Federal Deposit Insurance Corp. and IndyMac Bank to force the failed lender to buy back certain mortgages. . . The ...

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