Pentagon expanding number of foreigners recruited: The Defense Department already draws from aliens living in the United States on green cards and seeking permanent residency. But under a trial program, it will now look to also recruit from pools of foreigners who've been living in the states on student and work visas, with refugee or political asylum status and other temporary visas. US auto aid plan wins support: The amount is far less than the $34bn in loans requested this week by General Motors, Ford Motor, and Chrysler, but it would keep them going into next year. Investment banks set to cut 30,000 jobs: Up to 20,000 jobs look set to be lost as a result of the imminent merger of Merrill Lynch and Bank of America, as a further 10,000 job losses were announced across the investment banking fraternity. One in 10 American on food stamps: With 3.2 million more Americans unemployed than 12 months ago, the need for food assistance has risen. Last month saw the evaporation of 533,000 jobs, the biggest one-month loss since 1974. Record 10% of U.S. homeowners in arrears or foreclosure: A record 10% of the nation's mortgage-burdened homeowners fell behind on their loan payments or were in foreclosure during the third quarter, according to a survey released Friday by the Mortgage Bankers Assn., which said California and Florida were the biggest contributors to the worsening picture. Retail Sales Are Weakest in 35 Years: The nation’s retailers turned in the worst sales figures in at least a generation on Thursday, starting the holiday shopping season with double-digit declines across a broad spectrum of stores.
Sunday, 7 December 2008
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