News Cycles: Top News

Obama picks Geithner for Treasury: NBC

CHICAGO (Reuters) - President-elect Barack Obama has selected Timothy Geithner to be his Treasury secretary, putting the respected head of the New York Federal Reserve in a key role as the U.S. economy staggers toward recession, NBC news reported on Friday.

Bailout debate simmers as GM pares output

DETROIT/WASHINGTON (Reuters) - Detroit automakers began work on the turnaround plans demanded by Congress in return for a possible $25 billion rescue as General Motors Corp said it will cut production more deeply and drop two of its controversial corporate jets.

Citigroup shares drop as CEO plans to keep Smith Barney

NEW YORK (Reuters) - Citigroup Inc shares tumbled for a fifth straight day, as Chief Executive Vikram Pandit tried to downplay speculation the banking giant might sell major businesses to restore its health and investor confidence.

U.S. plans Afghan troop increase before elections

CORNWALLIS, Nova Scotia (Reuters) - U.S. Defense Secretary Robert Gates said on Friday he expected to move five combat brigades into Afghanistan next year and wanted at least some of them in place before the country's election next fall, stressing this was a top priority.

Bush takes financial reform agenda to APEC forum

ABOARD AIR FORCE ONE (Reuters) - George W. Bush headed on Friday to an Asia-Pacific summit aiming to seek support for global financial reform and hold talks on ending North Korea's nuclear program as his presidency winds down.

Iran rejects U.S. reports it has basis for atom bomb

VIENNA (Reuters) - Iran rejected Friday U.S. reports it had enriched enough uranium to make an atom bomb, saying this would require steps it had ruled out like ejecting U.N. inspectors and leaving the Non-Proliferation Treaty (NPT).

Kirkuk-Ceyhan pipeline on fire after attack: TV

ISTANBUL (Reuters) - Unknown assailants launched an attack on the Kirkuk-Ceyhan pipeline between Iraq and Turkey on Friday, triggering a large fire, broadcaster CNN Turk reported.

Bush signs law extending unemployment insurance

WASHINGTON (Reuters) - President George W. Bush on Friday signed into law an extension of unemployment benefits, the White House said.

Islamists on trail of Somali pirates

MOGADISHU (Reuters) - Dozens of Somali Islamist insurgents stormed a port on Friday hunting the pirates behind the seizure of a Saudi supertanker that was the world's biggest hijack, a local elder said.

Fed's Geithner to be tapped for Treasury: reports

WASHINGTON (Reuters) - Timothy Geithner, the president of the New York Federal Reserve Bank, is expected to be tapped by President-elect Barack Obama to be the next secretary of the U.S. Treasury, NBC News and the Wall Street Journal reported on Friday.