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AP Top News at 11:17 p.m. EST
(AP Online Via Acquire Media NewsEdge) Obama to center stage, promises action on economyCHICAGO (AP) _ Inheriting an economy in peril, President-elect Obama warned on Friday that the nation faces the challenge of a lifetime and pledged he would act urgently to help Americans devastated by lost jobs, disappearing savings and homes seized in foreclosure. But the man who promised change cautioned against hopes of quick solutions. "It is not going to be easy for us to dig ourselves out of the hole that we are in," Obama said at his first news conference since winning the presidency on Tuesday.
Jobless ranks hit 10 million, most in 25 yearsWASHINGTON (AP) _ The nation's jobless ranks zoomed past 10 million last month, the most in a quarter-century, as piles of pink slips shut factory gates and office doors to 240,000 more Americans with the holidays nearing. Politicians and economists agreed on a painful bottom line: It's only going to get worse. The unemployment rate soared to a 14-year high of 6.5 percent, the government said Friday, up from 6.1 percent just a month earlier. And there was more grim news from U.S. automakers: Ford Motor Co. and General Motors Corp., American giants struggling to survive, each reported big losses and figured to be announcing even more job cuts before long.
Running on fumes: GM could soon run out of cashDETROIT (AP) _ The American auto industry is running on fumes. General Motors, the nation's largest automaker, warned Friday that it may run out of money by the end of the year after piling up billions in third-quarter losses and burning through cash at an alarming rate. Ford sustained heavy losses, too. The situation is so severe, GM has suspended talks to acquire Chrysler and is appealing to the government for help as the slumping economy drags cars sales to their lowest level in a quarter century.
Palin denounces her critics as cowardlyANCHORAGE, Alaska (AP) _ Alaska Gov. Sarah Palin called her critics cowards and jerks Friday for deriding her anonymously and insisted she never asked for the expensive wardrobe purchased for her use on the presidential campaign. "I never asked for anything more than a Diet Dr. Pepper once in a while," Palin said as she returned to the governor's office from her two-month odyssey as the GOP vice presidential nominee. She said the Republican National Committee paid for the tens of thousands of dollars in designer clothes and accessories.
Death toll in Haiti school collapse rises to 30PETIONVILLE, Haiti (AP) _ A hillside school where roughly 500 students usually crowded into several floors collapsed during classes on Friday, killing at least 30 people and injuring many more. Rescuers used bare hands to pull bleeding students from the wreckage. More children were believed buried in the rubble of the concrete building, and the death toll was likely to go higher, Yphosiane Vil, an civil protection official, told The Associated Press at the scene.
Hurricane Paloma, a Category 3 storm, eyes CubaGEORGE TOWN, Cayman Islands (AP) _ Late-season Hurricane Paloma strengthened into a Category 3 storm as it lashed the Cayman Islands with wind and rain Friday, knocking down trees and signs. The storm was expected to lose some strength overnight before punching Cuba's midsection on Saturday, according to the National Hurricane Center in Miami. Cuba already is suffering from billions of dollars in damage from two previous hurricanes this season.
Congo rebel leader Nkunda vows to keep fightingTEBERO, Congo (AP) _ High in the mist-shrouded Mushaki mountains, amid a drenching tropical storm, the rebel leader swept into the crumbling brick farmhouse, his sinewy frame swathed in a red-and-black shawl _ dutifully followed by a pet lamb called Betty. Gen. Laurent Nkunda, extolled by supporters as a gift from God, beamed a toothy smile as he shook hands and exuded charm during an interview with The Associated Press.
Obama apologizes to Nancy Reagan for seance remarkWASHINGTON (AP) _ President-elect Obama called Nancy Reagan on Friday to apologize for joking that she held seances in the White House. At a news conference in Chicago, Obama said he had spoken with all the living presidents as he prepares to take office in January. Then he smiled and said, "I didn't want to get into a Nancy Reagan thing about doing any seances."
Fears of Democrat crackdown lead to gun sales boomMIDLOTHIAN, Va. (AP) _ When 10-year-old Austin Smith heard Barack Obama had been elected president, he had one question: Does this mean I won't get a new gun for Christmas? That brought his mother, the camouflage-clad Rachel Smith, to Bob Moates Sports Shop on Thursday, where she was picking out that special 20-gauge shotgun _ one of at least five weapons she plans to buy before Obama takes office in January.
Nets beat Pistons in Iverson's debut 103-96EAST RUTHERFORD, N.J. (AP) _ Devin Harris scored a career-high 38 points Friday night to lead the New Jersey Nets to a 103-96 victory over Detroit, spoiling Allen Iverson's debut with the Pistons. New Jersey, which trailed by as many as 14 points in the first half, played some of its best basketball of the season in the final two periods to hand the Pistons their first loss after four wins to open the season.
Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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