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Developing Story

November jobs drop largest since December 1974, and jobless rate highest since October 1993

Analyst reaction to jobs number: This is a clear employment blowout  8:35am EST

Today on Reuters 

Wachovia employees listen to Wells Fargo CEO John Stumpf during a news conference at the Wachovia corporate headquarters in Charlotte, North Carolina, October 15, 2008. REUTERS/Chris Keane
before the bell:

Job losses 8:33am ET

Economy sheds worse-than-expected 533,000 jobs in November, jobless rate at 6.7 percent. Morning Call: Losses at the open

Morning Call: Losses at the open
U.S. and China trade views
Bailout still faces challenges: Paulson
Global stocks struggle
Wachovia employees listen to Wells Fargo CEO John Stumpf during a news conference at the Wachovia corporate headquarters in Charlotte, North Carolina, October 15, 2008. REUTERS/Chris Keane
before the bell:

Job losses 8:33am ET

Economy sheds worse-than-expected 533,000 jobs in November, jobless rate at 6.7 percent. Morning Call: Losses at the open

Morning Call: Losses at the open
U.S. and China trade views
Bailout still faces challenges: Paulson
Global stocks struggle
Automobile leaders testify during the U.S. Senate Banking Committee hearing on the financial assistance package for the big Detroit automakers in Washington, December 4, 2008.

No consensus 6:54am ET

There is understanding of distress but no consensus in Congress to rescue automakers as industry chiefs hope to advance their case in a second appearance before lawmakers.  Full Article | Full Coverage 

Chastened auto CEOs beg for billions
BMW sales plunge, Honda quits F1
Commentary: Bail out the car buyers
Video: Driving for dollars

Media Summit

media and technology

Barry Diller, Chairman and Chief Executive Officer of IAC/InterActiveCorp, speaks at the Reuters Media Summit in New York, December 4, 2008. REUTERS/Shannon Stapleton
Cascade of M&A opportunities

IAC Chief Executive Barry Diller is sitting on a pile of cash but he isn't going to give in to investor demands that he buy back stock to rescue the company's ailing share price.  Full Article 

Full Coverage: Media Summit
James Saft
Banking spins destruction myth
James Saft

The banking myth, as expounded by insiders, is that we were hit by a perfect storm, a 1,000-year flood so unpredictable that we can't possibly be held accountable for it. An act of god, rather than the folly of man.  Commentary 

to

Commodities

Commodity Last Pct Chg Trade Date/Time
Oil 41.43 -2.05% 05 Dec 2008 08:32 EST
Gold 755.1 -1.13% 05 Dec 2008 08:41 EST
Photo
Crisis in Credit

Follow the financial crisis using our interactive video timeline. Track the global impact on our interactive map.  Full Coverage 

Photo
The drug war insanity

Albert Einstein defined insanity as doing the same thing repeatedly and expecting different results. It's a definition that fits the war on drugs, says columnist Bernd Debusmann.  Commentary 

Shoppers pass a window display at the high-end luxury goods maker Gucci along 5th Avenue in New York, November 19, 2008.
Holiday Shopping

Retailers and shoppers are adjusting to the impact of the financial crisis, especially during the busy holiday season. Take a closer look.  Full Coverage 

Pictures

View Slideshow 
View Slideshow View SlideshowSlideshow  
Learning how to be a teen
4:23am EST 
Teenage North Korean defectors attend special schools in the South where they learn skills that other teenagers take for granted, such as using a cell phone and surfing the web.
More Pictures...

Video

Play Video Play VideoVideo 
Head of Russian Orthodox church dies

Dec 5 - Patriarch Alexiy II has died at the age of 79, a church spokesman has said.  Play Video

 
Thais worried about King's health
Hundreds protest Zimbabwe crisis
More Video...

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