The world is sinking into a major global slowdown, likely to be the worst in a quarter-century, perhaps since the Great Depression. This crisis was made in America, in more than one sense.
US President-elect Barack Obama has appointed a team of high-level advisers including billionaire investor Warren Buffett and Google chief executive Eric Schmidt to guide his thoughts on the economy ahead of taking office on January 20.
Barack Obama has started forming his administration by asking Rahm Emanuel, a former adviser to President Clinton, to be his chief-of-staff. US President-elect Obama is expected to appoint a new treasury secretary soon.
A United States federal court in Miami has found a Venezuelan businessman guilty of acting as an illegal foreign agent in US territory to cover up a political scandal involving Argentina.
Brazilian leader Lula da Silva said that if Barack Obama if finally elected as the next president of the United States, it would be something extraordinary, comparable to his won victory or that of Bolivia's Evo Morales, the first indigenous president, plus a spark of joy for the expectant world.
Aiming for a last-minute upset, Republican John McCain embarked on a grueling odyssey through seven swing states Monday while Democrat Barack Obama was headed toward three longtime GOP bastions that have become Democratic-leaning battlegrounds in the historic presidential contest.
Sarah Palin unwittingly took a prank call Saturday from a Canadian comedian posing as French President Nicolas Sarkozy and telling her she would make a good president someday. Maybe in eight years, replies a laughing Palin.
Freedom Bank of Bradeton, Florida, in the United States became the 17th US bank to be seized by regulators in 2008, as the heaviest housing slump since the days of the Great Depression of the 1930 continues to trigger heaving losses.
The United States economy shrank at an annualised rate of 0.3% between July and September, according to figures from the Commerce Department. GDP figures were better than expected, although they show the sharpest contraction of the economy since 2001.
The United States Federal Reserve cut on Wednesday the key interest rate from 1.5% to 1% in a widely expected move with the purpose of promoting a return to moderate economic growth.