Wikinews Shorts: November 25, 2008
A compilation of brief news reports for Tuesday, November 25, 2008.
US Fed announces a US$800 billion stimulus package
Henry Paulson, US Secretary of the Treasury, said that the stimulus package is intended to make more lending available to consumers. Approximately $600 billion of the package is to be used to buy up mortgage-backed securities, while the rest is aimed at unfreezing the consumer credit market.
US President-elect Barack Obama said that budget reform was "imperative" with the economy in its current state, saying that "it's not an option. It's a necessity."
- "US Fed announces $800bn stimulus" — , November 25, 2008
- "Fed rolls second stimulus of over $800 bn" — , November 25, 2008
French Socialist Party declares Martine Aubry as winner
Martine Aubry has been declared the new leader of the French Socialist Party. The declaration was delayed after Martine Aubry's rival, Ségolène Royal, made accusations of voting irregularities. A party investigation was prompted.
However, the national council of the party ratified last week's vote, stating that Aubry's winning margin had increased from 42 votes to 102.
- "French Socialists declare winner" — , November 25, 2008
- Emmanuel Georges-Picot. "Aubry confirmed as French Socialist boss" — , November 25, 2008
US government to back $306 billion in Citigroup loans
Regulators hope that the bold move will bolster shaken confidence in Citigroup, as well as the nation's financial system.
Wall Street reacted positively to the move, with the Dow Jones Industrial Average gaining over 300 points in early trading on Tuesday, and Citigroup shares rising 61.3% to $6.08 early in the day. British and German stock markets also rose higher.
- Associated Press. "Government unveils Citigroup rescue" — , November 24, 2008
- Agence France-Presse. "Massive 300-billion dollar rescue for Citigroup" — , November 24, 2008
53 die in Zimbabwe after cholera outbreak
According to the UN Office for the Coordination of Humanitarian Affairs (OCHA), the fatalities brought the total since August to 366. Yesterday's report increased the number of recorded cases from last year's report by 1,604 to 8,887.
- "UN calls for rapid Zimbabwe deal" — , November 25, 2008
- Agence France-Presse. "Zimbabwe cholera crisis worsens as political talks resume" — , November 25, 2008