Unemployment hits record but job losses slow



By Lucia Mutikani



WASHINGTON (Reuters) - The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.



The Labor Department said on Friday that U.S. employers cut 345,000 jobs in May, the fewest since September and far less than economists had forecast, after slicing 504,000 in April.



The… Continue

UK's Brown reshuffles government to calm crisis







By Frank Prenesti and Adrian Croft



LONDON (Reuters) - British Prime Minister Gordon Brown averted the immediate danger of government collapse on Friday with a cabinet reshuffle that secured the loyalty of key ministers, but the political uncertainty weighed on sterling.



By backing down from replacing finance minister Alistair Darling, Brown appeared to have headed off an open revolt by his Labour party… Continue

Obama to Sell B-2 Bomber Blueprints to China to Pay Off Debt



B-2 Plans for Sale?

Richard Hogarty

Boston Reviewer

June 1, 2009





Record deficits and a crashing economy appear to be taking a toll on the young Barack Obama Administration. The Administration has been talking about hiking income taxes and perhaps instituting a VAT tax.



China is also concerned with the mounting deficits in the United States budget. China is the single biggest holder… Continue

EXCLUSIVE: Al Qaeda eyes bio attack from Mexico



Seeks white militias as allies



By Sara A. Carter (Contact) | Wednesday, June 3, 2009





EXCLUSIVE:



U.S. counterterrorism officials have authenticated a video by an al Qaeda recruiter threatening to smuggle a biological weapon into the United States via tunnels under the Mexico border, the latest sign of the terrorist group's determination to stage another mass-casualty attack on the U.S.… Continue

AP source: GM to sell Hummer to Chinese company



By TOM KRISHER and BREE FOWLER, AP Auto Writers – 8 mins ago

DETROIT – General Motors Corp. took a key step toward its downsizing on Tuesday, striking a tentative deal to sell its Hummer brand, while also revealing that it has potential buyers for its Saturn and Saab brands.

GM has a tenatative agreement to sell its rugged Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China, said a person briefed on the… Continue