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Oil at 4-year lows below $44 on dire economic news (AP) -

Regular unleaded gasoline sells for $1.32.9 per gallon at a Valero station Thursday, Dec. 4, 2008, in Independence, Mo. Average gasoline prices slipped under $1.80 a gallon as oil prices hit a four year low falling below $44 a barrel. (AP Photo/Charlie Riedel)AP - Oil prices were steady near four-year lows below $44 a barrel Friday in Asia as more bad U.S. economic news soured the outlook for global growth and demand for crude.


Auto bailout could be tied to gov't-run overhaul (AP) -

Auto executives, from left, General Motors Chief Executive Officer Richard Wagoner, UAW President Ron Gettelfinger, Ford Chief Executive Officer Alan Mulally, and Chrysler Chief Executive Officer Robert Nardelli testify on Capitol Hill in Washington, Thursday, Dec. 4, 2008, before a Senate Banking Committee hearing on the auto industry bailout. (AP Photo/Gerald Herbert)AP - The government would order a major restructuring of Detroit's struggling Big Three auto companies in exchange for a multibillion-dollar bailout under a plan circulating in Congress.


World markets mostly down ahead of US jobs report (AP) -

South Korean visitors look around near the screens displaying stock price and the currency of the U.S. dollar at the Korea Stock Exchange in Seoul, South Korea, Friday, Dec. 5, 2008. The Korea Composite Stock Price Index closed 2.14 percent or 21.59 points, higher at 1028.13. (AP Photo/ Lee Jin-man)AP - World markets were mostly lower Friday as caution ahead of a key reading on the U.S. jobs market overshadowed big rate cuts by central banks in Europe. Oil traded near four-year lows.


Top Indian official admits 'lapses' in attacks (AP) -

Indian paramilitary soldiers patrol at Indira Gandhi International airport in New Delhi, India, Friday, Dec. 5, 2008. A police official says security forces have swarmed through New Delhi's international airport after the sound of gunfire rang out, but no one was injured. (AP Photo/Manish Swarup)AP - India's top law enforcement official admitted Friday there were government "lapses" in last week's terror attack on Mumbai, amid a public uproar over security and intelligence failures in the deadly siege.


US mulls unusual tactic as Blackwater charges loom (AP) -

Plainclothes contractors working for Blackwater USA take part in a firefight as Iraqi demonstrators loyal to Muqtada Al Sadr attempt to advance on a facility being defended by U.S. and Spanish soldiers in Najaf, Iraq in this April 4, 2004 file photo. The Blackwater USA contractors were actively involved in defending the position. (AP Photo/Gervasio Sanchez, File)AP - The Justice Department is readying indictments that could send Blackwater Worldwide guards to prison for at least 30 years for their involvement in the deadly 2007 Baghdad shooting of Iraqi civilians, people close to the case said.


Employers shedding jobs as recession deepens (AP) -

A pedestrian talks on his cell phone while walking past an AT&T store Thursday, Dec. 4, 2008, in Chicago. Pressured by the economic turmoil and the mounting loss of traditional phone customers, AT&T Inc. is cutting 12,000 jobs, about 4 percent of its work force. (AP Photo/M. Spencer Green)AP - With the economy sinking faster, employers are giving more Americans dreaded pink slips right before the holidays.


Israel's military on alert for settler violence (AP) -

Israeli police officers evict a Jewish settler from a disputed building in the West Bank city of Hebron December 4, 2008. REUTERS/Ronen ZvulunAP - Israeli defense officials say the military has been placed on alert to head off settler violence in wake of the evacuation of a disputed building.


Bailout still faces challenges: Paulson (Reuters) -

U.S. Treasury Secretary Henry Paulson (front 3rd L) and Chinese Vice Premier Wang Qishan (front 2nd R) chat as they join their delegations for a group photo to wrap up the Strategic Economic Dialogue in Beijing December 5, 2008. (Goh Chai Hin/Pool/Reuters)Reuters - The United States has made clear progress in steadying its financial system, thanks in part to a $700 billion bailout fund authorized by Congress, but the rehabilitation process still faces many challenges, Treasury Secretary Henry Paulson said on Friday.