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Front Page: Retail Sales Suffered Record Drop in Oct.

  • Retail sales in the US dropped in October by the most on record. The 2.8 percent decrease was the fourth consecutive drop and the biggest since records began in 1992 and purchases excluding automobiles also posted their worst performance.— Bloomberg
  • President-elect Barack Obama plans have a post-campaign sit down with John McCain on Monday in Chicago. An Obama spokesperson said the pair will be joined by a McCain confidant and Rep. Rahm Emanuel, the Illinois Democrat whom Obama has chosen to be his White House chief of staff. — The New York Times
  • World leaders are heading to Washington today to work on ways to tackle the global economic crisis which has plunged much of Europe into its first recession since the euro currency was formed. — Reuters
  • Russia's Parliament has supported a bill to extend the presidential term from four to six years causing further speculation of Vladimir Putin's early return. — BBC
  • The export slowdown that has been supersized by the word financial crisis has contributed to the shutdown of factories in coastal regions of China. The closures are leaving the unemployed with few options. — International Herald Tribune


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