AP - New claims for unemployment benefits rose more than expected last week, the government said Wednesday, as layoffs spread throughout the economy, more evidence the labor market is weakening as the recession deepens.
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Reuters - Mortgage applications surged to the highest level in over five years in the latest week, as potential borrowers came out in droves to refinance as government interventions helped push interest rates down to record lows, data from an industry group showed on Wednesday.
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Reuters - Palestinian militants in the Gaza Strip fired rockets into Israel on Wednesday to avenge the killing of three gunmen by Israeli troops, dampening hopes of a renewed truce.
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Reuters - President-elect Barack Obama paid his last respects on Tuesday to the woman he called the rock of his family, the grandmother who helped to raise him, before scattering her ashes from a Hawaiian shoreline.
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AP - Consumer spending fell for a fifth straight month in November, the longest weak stretch in a half-century, while incomes declined under the weight of massive job layoffs.
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AP - Hundreds of holiday travelers spent the night in the nation's second busiest airport and others faced delayed or canceled flights and highways choked by snow and ice as storms kept up their assault on northern states.
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Reuters - Somali President Abdullahi Yusuf has decided to resign, his spokesman said on Wednesday, in a move the African Union said would be positive for the peace process in the Horn of Africa nation.
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Reuters - Japan's government approved its biggest-ever budget on Wednesday to try to revive an economy hurt by the global financial crisis and U.S. data was expected to give further evidence of the worsening recession.
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AP - A reigning Mexican beauty queen from the drug-plagued state of Sinaloa was arrested with suspected gang members in a truck filled guns and ammunition, police say.
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AFP - Militants in Hamas-ruled Gaza pounded Israel with rocket and mortar fire on Wednesday, dimming the chances of a renewed ceasefire between the Jewish state and the Palestinian Islamist group.
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