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Saudi FM: oil supertanker hijacking 'outrageous' (AP)

AP - Saudi Arabia's foreign minister condemned the "outrageous" hijacking of a Saudi oil supertanker by Somali pirates and said Tuesday that his nation would join the international effort to eradicate piracy.

Bush signs jobless benefits extension (AP)

AP - President George W. Bush on Friday ensured that millions of laid-off workers will keep getting their unemployment checks as the year-end holidays approach.

Jobless claims jump unexpectedly to 16-year high (AP)

AP - New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year.

Stocks advance moderately after sell-off (AP)

AP - Wall Street moved cautiously higher Friday, with investors taking a breather from the heavy selling of recent days. Energy, utility and technology stocks showed some advances, but bank stocks declined sharply.

Oil prices drop below $50 dollars, hit 3.5-year lows (AFP)

AFP - Oil prices sank under 50 dollars a barrel in London on Thursday, reaching the lowest levels for three and a half years, as the market was plagued by weak energy demand.

GM to return two leased jets amid criticism (Reuters)

Reuters - General Motors Corp will return two of its leased corporate jets amid intense criticism in Washington this week on the luxury travel arrangements of its chief executive even as the company pleads for federal aid.

Oil rallies from 3-1/2-year low (Reuters)

Reuters - Oil rose slightly on Friday, after falling more than 7 percent the day before, as stock markets recovered from early lows caused by continuing economic gloom.

Fed sharply lowers forecasts, hints of rate cut (AP)

Democrats demand Big 3 offer survival plan (Reuters)

Reuters - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans.

Median home prices fall around US in Q3 (AP)

AP - Home prices fell in a record four out of five U.S. cities in the third quarter as low-cost foreclosures flooded the market and the U.S. housing market's decline spread throughout the country.

Yahoo shares soar as Yang agrees to quit CEO post (Reuters)

Reuters - Shares of Yahoo Inc soared 10 percent on Tuesday on hopes that the departure of Jerry Yang, its embattled chief executive, would clear the way for a deal with Microsoft Corp.

Is Deflation Good for Workers? (BusinessWeek Online)

BusinessWeek Online - Over the past 10 years we've been trained to treat deflation -- an actual fall in prices, as shown in today's consumer price index (CPI) release -- as a horror to be avoided. Could it be that in this case a whiff of deflation may help us get out of the crisis?

JPMorgan cuts investment banking jobs: sources (Reuters)

Reuters - JPMorgan Chase & Co is cutting 10 percent of its investment banking staff -- about 3,000 jobs -- as the economic slowdown starts to bite into its earnings, people familiar with the situation said on Thursday.

Citigroup's options dwindle as shares under $4 (AP)

AP - Citigroup's options are dwindling along with its stock price as the credit landscape deteriorates and fears escalate about future loan losses at the company.

European stocks drop as Dow erases early gains (AP)

AP - European markets fell further Friday as early gains on Wall Street were wiped out amid mounting fears about the U.S. economy and the future of banking giant Citigroup Inc. in particular. Asian stocks closed mostly higher earlier in the day.

BoA CEO blames regulators and GSE flaws for crisis (Reuters)

Reuters - Bank of America Corp Chief Executive Kenneth Lewis on Thursday blamed much of the current credit crisis on lax regulation by state officials and said all "systemically important" financial institutions need some form of federal oversight.

Medicare coverage gap vexes patients, survey says (AP)

Where Would You Relocate for a Job? (BusinessWeek Online)

GMAC files for bank holding status (AP)

US gas prices dip below $2 as oil prices waver (AP)

AP - The national average price for gasoline tumbled below $2 a gallon Friday, its lowest point in more than three years, yet the global economic contrast between then and now could not be more stark.