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Small Moves before World Summit on Financial Fixes

Updated: 11/18/2008 - World leaders appear poised to agree on ways to prevent a repeat of the financial meltdown that has imperiled the global economy, the White House said before the start of its financial summit Friday.

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Consumers Cut Back Sharply on Spending

Updated: 11/18/2008 - Consumers, taking a beating from the worst financial crisis in seven decades, cut back sharply on their spending in October, pushing retail sales down by a record amount.

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Sarkozy: US Missile Shield Won't Help Security

Updated: 11/18/2008 - French President Nicolas Sarkozy undercut the American rationale for a U.S. missile shield in Eastern Europe on Friday by saying that the system would do nothing to improve European security.

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Reports: Kanye West Arrested in England

Updated: 11/18/2008 - The Press Association news agency and others reported that that the 31-year-old rapper was detained early Friday after an incident involving a photographer outside the Tup Tup Palace bar in Newcastle, northern England.

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Sun to Cut up to 6,000 Workers, 18% of Staff

Updated: 11/18/2008 - Sun Microsystems Inc. plans to cut up to 6,000 jobs, or 18 percent of its global work force, as sales of its high-end computer servers have collapsed.

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Stocks Open Lower as Investors Refocus on Economy

Updated: 11/18/2008 - Investors digested more downbeat economic news Friday and cashed in some of their gains from the previous session's big rally. Hints from Federal Reserve Chairman Ben Bernanke that another interest rate cut might be possible appeared to have little effect on trading.

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Officials: Sen. Clinton Eyed as Secretary of State

Updated: 11/18/2008 - CHICAGO (AP) -- Sen. Hillary Rodham Clinton is among the candidates that President-elect Barack Obama is considering for secretary of state, according to two Democratic officials in close contact with the Obama transition team. Clinton, the former first lady who pushed Obama hard for the Democratic presidential nomination, was rumored to be a contender for the job last week, but the talk died down as party activists questioned whether she was best-suited to be the nation's top diplomat in an Obama administration. The talk resumed in Washington and elsewhere Thursday, a day after Obama named several former aides to President Bill Clinton to help run his transition effort. The two Democratic officials who spoke Thursday did so on the condition of anonymity to avoid angering Obama and his staff. Clinton spokesman Philippe Reines referred questions to the Obama transition team, which said it had no comment. Other people frequently mentioned for the State Department job are Sen. Chuck Hagel, R-Neb., Sen. John Kerry, D-Mass., and New Mexico's Democratic governor, Bill Richardson. © 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Bernanke Leaves Door Open to Another Rate Cut

Updated: 11/18/2008 - Federal Reserve Chairman Ben Bernanke pledged Friday to work closely with other central banks to fix global financial problems and left open the door to a fresh interest rate cut to help brace the sinking U.S. economy.

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Police: Japanese Man Wounded In Northwest Pakistan

Updated: 11/18/2008 - A Japanese journalist was shot Friday in the frontier city of Peshawar — the third attack on a foreigner there in three days, and missiles apparently fired by U.S. unmanned aircraft near the Afghan border killed at least 12 people, including several foreign militants, Pakistani officials said.

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Retail Sales Fall By Record Amount In October

Updated: 11/18/2008 - Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending.

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Gulf War Vet Health Research Lacking

Updated: 11/18/2008 - Even as possibly hundreds of thousands of veterans suffer from a collection of symptoms commonly called Gulf War illness, the government has done too little to find treatments for their health problems nearly two decades after the war ended, a panel commissioned by Congress said.

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White Powder Sent To Mormon Temples In Utah, LA

Updated: 11/18/2008 - Letters containing a suspicious white powder were sent Thursday to Mormon temples in Los Angeles and Salt Lake City that were the sites of protests against the church's support of California's gay marriage ban.

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Calif. Clerks: When Does Gay-Marriage Ban Begin?

Updated: 11/18/2008 - County clerks across California are clamoring for legal advice to resolve confusion about when to begin the gay-marriage ban that voters passed last week in a ballot initiative.

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Fire Destroys 80 Homes, Injures 4 In SoCal Town

Updated: 11/18/2008 - Firefighters were racing early Friday to push back a wind-whipped wildfire that destroyed about 80 homes and a college dormitory in the tony community of Montecito, injured four people and forced thousands to flee the longtime celebrity hideaway.

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World Leaders to Face Off on Financial Fixes

Updated: 11/18/2008 - With economic damage piling ever higher, President George W. Bush and other world leaders are gathering to explore options for relief and to work on ways to prevent similar credit and financial calamities from happening again.

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