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Financial News

Treasury Yields Fall to Record Lows as Risk of Global Recession Deepens Treasury two-year note yields fell to a record low after global stocks slumped, U.S. consumer prices tumbled in October and a deepening recession caused investors to seek the safest assets.

Bernanke May Find Deflation `Back on the Table' as Threat to U.S. Economy Five years after Federal Reserve Chairman Ben S. Bernanke helped stamp out the risk of deflation, the threat is returning as the financial crisis and a worsening economic slump pull inflation lower.

GM, Ford, Chrysler Chiefs Leave Empty-Handed After Congressional Hearings U.S. lawmakers deadlocked on a plan to bail out the Big Three automakers, leaving General Motors Corp. facing the prospect it could run out of cash before a new Congress can come to the rescue next year.

Calpers Sold $2 Billion of Private-Equity Stakes Before Markets Tumbled California Public Employees’ Retirement System, the largest U.S. public pension fund, is back in the market for stakes in private-equity funds after selling $2 billion of partnerships earlier this year.

Wachovia, Golden West Investigated for Lending, Disclosures to Investors U.S. prosecutors and the Securities and Exchange Commission are investigating Wachovia Corp.'s mortgage lending and disclosures to investors, U.S. Attorney Joseph Russoniello said.

Wal-Mart Shoppers Hold Key to Holiday Success for Dell, Hewlett-Packard Move over Best Buy. Wal-Mart will determine the fortunes of Dell Inc. and Hewlett-Packard Co. this holiday season.

Fed to Cut Rates to Zero in January on Deflation Risk, JPMorgan Predicts The U.S. Federal Reserve will probably cut interest rates to zero percent over the next two months to staunch deflation, according to JPMorgan Chase & Co.

Record Options Trading Dries Up as Hedge Funds Fold, Volatility Skyrockets U.S. options trading slowed this month from a record pace after hedge funds collapsed and the biggest market swings since 1929 made equity derivatives too expensive to be used as insurance against stock losses.

General News

Lobbyist-Bashing by Obama Fails to Dim Industry's Forecast for Boom Times Lobbyists Heather and Tony Podesta took over a Denver restaurant during the Democratic National Convention in August to host a party for lawmakers and other power brokers. Their guests wore Barack Obama buttons. The Podestas were wearing a label of their own: a scarlet ``L.''

Bill Clinton Sends Donor List to Obama to Help Hillary's Bid for State Job Bill Clinton has sent President- elect Barack Obama's transition team a list of more than 200,000 donors to his foundation, according to a Democrat familiar with the process, the latest sign both sides are trying to clear obstacles to Hillary Clinton's possible nomination as U.S. secretary of state.

Israel's Barak Urges U.S. to Focus Less on China and Russia, More on Iran Israeli Defense Minister Ehud Barak said the U.S. and Europe should put aside differences with China and Russia over human rights and missile-defense issues to focus on working together to stop Iran from developing nuclear weapons.

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