G'day, (and what the hell are you doing reading HC on Xmas Day?!)
These are the top 5 domestic and international news headlines for Tuesday, December 24, 2002 taken from Financial Sense Online.
And this in the season of peace and goodwill to mankind.
US Domestic
#1 US Economy: Nov. Durable Goods Unexpectedly Fall Source: Bloomberg Washington, Dec. 24 (Bloomberg) -- U.S. orders for durable goods unexpectedly fell in November, a government report showed, damping prospects that companies will spend enough on equipment to help fuel the economic recovery.
#2 Retailers Post Worst Holiday Sales in Decades Source: FoxNews NEW YORK - With the busiest shopping weekend of the year over, retailers are bracing for a holiday season that may be the weakest in more than 30 years -- and investors are getting ready for lowered profit forecasts for 2003.
#3 Data Show Economy Slipping Source: Reuters WASHINGTON (Reuters) - Disappointing data on holiday shopping and an unexpected drop in orders for costly manufactured goods, seen in reports released on Tuesday, showed the U.S. economy sputtering as the year drew to a close.
#4 Washington Almost on Empty Source: CNN/Money WASHINGTON (Reuters) - The U.S. Treasury Tuesday asked Congress to approve an increase in the government's debt limit, citing its need to raise cash for the war on terrorism and to counter the impact of an economic slowdown.
#5 Gold, Oil Sizzle Source: CBSMarketWAtch NEW YORK (CBS.MW) -- Crude futures closed near $32 a barrel in a shortened-trading session Tuesday, as troubles within two of the world's biggest sources of oil continue to fuel the possibility of global supply shortages.
International
#1 Powell Lobbies Neighbors as North Korea Issues Warning Source: Fox News WASHINGTON — Secretary of State Colin Powell spent a fourth straight day talking to North Korea's neighbors about a growing nuclear crisis as Pyongyang warned of "an uncontrollable catastrophe" if Washington maintains a hostile policy.
#2 Rumsfeld Warns N. Korea: US. Can Fight Two Wars Source: Fox News WASHINGTON — The United States could fight North Korea even during a war with Iraq, Defense Secretary Donald Rumsfeld warned Tuesday. But he said diplomacy, not the threat of military action, guides the Bush administration's efforts to contain Pyongyang's resurgent nuclear ambitions.
#3 North Korea Begins Reactor Repair Source: USA Today SEOUL, South Korea (AP) — North Korea ratcheted up its standoff with Washington on Tuesday, starting repairs at a long-frozen nuclear reactor and warning that U.S. policy is leading to an "uncontrollable catastrophe" and the "brink of nuclear war."
#4 Terror's Peril Undiminished Source: The Washington Post Late last year, in secret, the Bush administration erected a provisional defense against nuclear terrorism in the nation's capital. It was called "Ring Around Washington," and it aimed to detect a nuclear or radiological bomb before the weapon could be used.
#5 FBI Advisory: Terrorists Still Eye Shoe Bombs Source: Associated Press BAGHDAD (Reuters) - Iraqi forces shot down an unmanned U.S. Predator spy plane over southern Iraq on Monday in a delicate and planned operation, an Iraqi military spokesman said.
How about you turn this thing off and go and enjoy your family and friends, eh.
