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News of the 09/09/2008

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Oversight panel wants better answers from Treasury
US abstains as UN calls for Gaza cease-fire
China plans production controls for deadly melamine
    

Bush to order 8,000 troops out of Iraq

  
President George W. Bush on Tuesday will announce plans to withdraw about 8,000 American troops from Iraq by February 2009 and deploy soldiers to Afghanistan where violence has been surging.
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Federer wins 5th straight Open, 13th major title

  
The handwritten letters and the e-mails, the care packages and _ get this _ the instructional DVDs began reaching Roger Federer early in the season, after a bout of mononucleosis precipitated the end of his streak of 10 consecutive Grand Slam finals.
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Pakistan's Zardari sworn in as president

  
The widower of assassinated former Pakistani leader Benazir Bhutto took office as the country's new president Tuesday, facing immediate pressure to crack down on Islamic militants and address daunting economic problems.
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North Korea's Kim collapsed due to illness: report

  
North Korea's Kim Jong-il collapsed last month, a South Korean official in Beijing was quoted as saying, as analysts wondered whether the reclusive leader will appear at his state's anniversary festivities on Tuesday.
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Obama objects to severance for ousted CEOs

  
Barack Obama objected to reports Monday that the ousted heads of mortgage giants Fannie Mae and Freddie Mac may receive lucrative severance packages and asked the Bush administration to ensure their "poor leadership" isn't rewarded.
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Judge to hear from lawyers in RI immigration case

  
Opponents of Rhode Island Gov. Don Carcieri's crackdown on illegal immigrants are taking their dispute to court.
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Judge: Fort Dix plot trial will start Sept. 29

  
The trial of five men accused of plotting an attack on soldiers at Fort Dix will begin as scheduled on Sept. 29 despite attorneys' requests for a delay, a judge said Tuesday.
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Mass. Daily

  
The winning numbers drawn Monday night in the "Massachusetts Daily Lottery" were: 1-4-0-0
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Student GOP leader resigns over Obama remark

  
The leader of a statewide group of college Republicans has been forced to resign after posting racially insensitive comments about Democratic presidential nominee Barack Obama on the Internet.
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Sales Slump Over Miserable Summer

  
The poor summer weather combined with the economic slowdown means retailers are facing the worst conditions in three years.
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Templeton aims to grow sovereign wealth fund business

  
Franklin Templeton Investments has appointed an executive to spearhead efforts to improve ties with sovereign wealth funds in a bid to manage more of the $2-3 trillion controlled by these state-owned entities.
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Auto safety group: States should raise driving age

  
Taking aim at a longstanding rite of passage for 16-year-olds, an influential auto safety group is calling on states to raise the age for getting a driver's license to 17 or even 18.
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Cooking show lands Thai PM in hot water

  
Thailand's prime minister awaited a court verdict Tuesday on whether he will be forced out of office for hosting TV cooking shows -- yet another twist in a deepening national political crisis.
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Lehman sinks as much as 40 percent on liquidity worries

  
NEW YORK (Reuters) - Lehman Brothers Holdings Inc shares fell as much as 40 percent to their lowest level in nearly a decade on Tuesday on growing concern that Wall Street's fourth-largest investment bank would be unable to raise needed capital.
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Opec Oil Supply 'Will Not Be Cut'

  
Members of the oil producing cartel Opecwill decide to keep the level of supply unchanged as they meet in Vienna, says the organisation's president.
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Australian surfer says he was towed by shark

  
A large shark entangled itself in a surfer's leg rope in Australia and began towing him and his board out to sea, the surfer said Tuesday.
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Mugabe, Tsvangirai hold power-sharing talks

  
Zimbabwe's President Robert Mugabe and opposition leader Morgan Tsvangirai are meeting in a fresh round of power-sharing talks.
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Fannie, Freddie bailout greeted with cautious optimism

  
NEW YORK (Reuters) - U.S. mortgage rates fell on Monday after the government seized control of Fannie Mae and Freddie Mac, raising hopes the plan would provide at least temporary respite from troubles in housing and credit markets.
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Red Sox right fielder J.D. Drew returns from DL

  
The Boston Red Sox activated right fielder J.D. Drew from the 15-day disabled list before the game against Tampa Bay on Monday night.
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Former Abramoff lobbyist, Hill aide indicted

  
A one-time congressional aide who went on to work with jailed lobbyist Jack Abramoff was arrested Monday and accused of conspiring to corrupt government officials including his former boss, current Rep. John Doolittle, R-Calif.
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