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Dubai crisis jolts markets, but early fears ease

A man walks a securities firm in Hong Kong Friday, Nov. 27, 2009. Asian stock markets tumbled Friday as fears mounted over the fallout from Dubai's massive debt problems and the dollar continued its slide against the Japanese yen. Hong Kong's main index retreated 1,075.91 points or 4.8 percent to 21,134.50. (AP Photo/Vincent Yu)
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AP - 14 minutes ago

NEW YORK - Dubai's debt crisis rattled world financial markets Friday, raising concerns that some banks could further tighten lending and stall the global economic recovery.

  • Shoppers pack the main floor during Black Friday at Macy's in New York Friday Nov. 27, 2009. (AP Photo/David Goldman)
    Signs of life in stores as holiday shopping begins AP - 7 minutes ago

    The nation's shoppers took advantage of deals on toys and TVs with some renewed vigor in stores and online on Black Friday after a year of concentrating their spending on basic necessities.

  • Military divorces edge up again in 9th year of war AP - 58 minutes ago

    WASHINGTON - The toll for a nation long at war is evident in military homes: The divorce rate in the armed forces edged up again in the past year despite many programs to help struggling couples, and the rate now is a full percentage point higher than around the time of the attacks of Sept. 11, 2001.

  • Atlantis crew members, from left, Mission Specialists Leland Melvin, Michael Foreman, Commander Charles Hobough, Mission Specialist Robert Satcher, Pilot Barry Wilmore, and Mission Specialist Randy Bresnik pose near the space shuttle Atlantis after it landed safely on Kennedy Space Center's Runway 33 Friday, Nov. 27, 2009, in Cape Canaveral, Fla. The shuttle completed an 11-day mission to the international space station. (AP Photo/ Scott Audette, Pool)
    Space shuttle Atlantis, 7 astronauts back on Earth AP - 38 minutes ago

    CAPE CANAVERAL, Fla. - Space shuttle Atlantis and its seven astronauts returned to Earth with a smooth touchdown Friday to end an "amazing" flight that resupplied the International Space Station.

  • Teachers begin using cell phones for class lessons AP - 1 hour, 58 minutes ago

    WESLEY CHAPEL, Fla. - Cell phones, the subject of tugs of war between parents, teachers and students across the nation, are taking on a new role in the classroom: learning tool.

  • Cincinati quarterback Tony Pike (15) throws against Illinois linebacker Russell Ellington (33) in the second quarter of an NCAA college football game Friday, Nov. 27, 2009, in Cincinnati. (AP Photo/David Kohl)
    Pike throws 6 TDs, No. 5 Cincy tops Illinois 49-36 AP - 23 minutes ago

    CINCINNATI - Tony Pike returned from an injury to his non-throwing arm and had a record day Friday, passing for six touchdowns in a 49-36 victory over Illinois that left fifth-ranked Cincinnati unbeaten and back to full strength.

  • Blake Oliver of Jackson, Miss., rests his eyes while in line to check out at a Target store, Friday, Nov. 27, 2009, on Black Friday, the traditional start of the holiday shopping season. (AP Photo/Rogelio Solis)
    Black Friday draws strong traffic, less frenzy Reuters - 2 hours, 20 minutes ago

    NEW YORK (Reuters) - U.S. shoppers turned out in strong numbers at the start of the holiday season on Friday to hunt for bargains, though many said they were spending more selectively.

  • Flags for property company EMAAR, builders of Burj Dubai the world's tallest tower, are seen in Dubai, November 27, 2009. Credit ratings agency Moody's on Wednesday downgraded Emaar Properties by four notches to Ba2, placing it two notches into junk territory. REUTERS/Steve Crisp
    Banks, world leaders play down Dubai debt threat Reuters - 36 minutes ago

    DUBAI/LONDON (Reuters) - World leaders expressed confidence in the global economic recovery on Friday despite fears about a debt default by Gulf emirate Dubai, while major banks played down their exposure to the debt.

  • White House Press Secretary Robert Gibbs speaks during the daily press briefing at the White House in Washington in this September 28, 2009 file photo. REUTERS/Jim Young
    World's patience with Iran is limited: White House Reuters - 2 hours, 57 minutes ago

    WASHINGTON (Reuters) - The world is losing patience with Iran's behavior over its nuclear program and Tehran will be responsible for the consequences if it fails to meet its obligations, the White House said on Friday.

  • Tiger Woods hurt in car crash, released from hospital Reuters - 4 minutes ago

    MIAMI (Reuters) - Tiger Woods, the world's best golfer and a leading force in sports marketing, was hurt in a car accident in Florida on Friday but was released from a hospital in good condition after treatment.

  • Several people killed in Russia train accident: report Reuters - 15 minutes ago

    MOSCOW (Reuters) - Several people were killed and up to 25 injured when four carriages of a train traveling from Moscow to St Petersburg derailed on Friday, Interfax news agency quoted a law-enforcement source as saying.

  • A U.S. soldier checks a Patriot missile launcher displayed at the ground forces festival held by South Korean defence ministry at the headquarters of the armed forces in Taejon, about 200 km (125 miles) south of Seoul October 18, 2006. REUTERS/Lee Jae-Won
    Poland agrees rules for hosting U.S. armed forces Reuters - Fri Nov 27, 12:20 PM ET

    WARSAW (Reuters) - Poland and the United States have agreed the legal details of deploying U.S. troops in Poland after lengthy negotiations, Deputy Defense Minister Stanislaw Komorowski said on Friday.

  • Unlikely that U.S.-Russia arms pact done by Dec 5: official Reuters - 22 minutes ago

    WASHINGTON (Reuters) - Outstanding issues between the United States and Russia have made it less likely that a deal to cut vast Cold War arsenals of nuclear weapons will be finished by a December 5 deadline, a U.S. official said Friday.

  • A pedestrian walks past a painting depicting captured Israeli soldier Gilad Shalit, outside a protest tent calling for his release, near the residence of Israeli Prime Minister Benjamin Netanyahu in Jerusalem November 23, 2009. REUTERS/Ammar Awad
    Israeli minister "optimistic" on prisoner swap deal Reuters - 1 hour, 46 minutes ago

    JERUSALEM (Reuters) - An Israeli cabinet minister said on Friday he was optimistic about prospects for a prisoner swap with Palestinians for captured soldier Gilad Shalit, suggesting that talks were still alive to achieve a deal.

  • International Atomic Energy Agency IAEA Director General Mohamed ElBaradei (L) and IAEA Director General designate Yukiya Amano attend a board of governors meeting at the UN IAEA's headquarters in Vienna. The UN nuclear watchdog censured Iran on Friday and demanded it immediately halt construction of a newly-revealed uranium enrichment plant as world powers united against Tehran.(AFP/Joe Klamar)
    Iran condemned by UN nuclear watchdog AFP - 47 minutes ago

    VIENNA (AFP) - The UN nuclear watchdog on Friday passed a resolution condemning Iran for secretly building a uranium enrichment plant and demanded the Islamic republic freeze construction of the facility.

  • A foreign labourer walks at the construction site of Dubai's Business Bay. The Dubai debt crisis roiled world markets again Friday as fears of debt defaults sparked concern that a recovery from global recession could stall.(AFP/Karim Sahib)
    Dubai debt crisis roils world markets AFP - 1 hour, 2 minutes ago

    NEW YORK (AFP) - The Dubai debt crisis roiled world markets again Friday as fears of debt defaults sparked concern that a recovery from global recession could stall.

  • Trinidad & Tobago's Prime Minister Patrick Augustus Mervyn Manning (L) and Britain's Queen Elizabeth II pose during the family picture after the opening ceremony of the Commonwealth Heads of Government Meeting. Leaders of the Commonwealth's two billion people and the UN chief joined Friday to push for a deal at upcoming climate talks to save the planet from catastrophic global warming.(AFP/Luis Acosta)
    Commonwealth seeks to shape global climate talks AFP - 29 minutes ago

    PORT OF SPAIN (AFP) - Leaders of the Commonwealth's two billion people and the UN chief joined Friday to push for a deal at upcoming climate talks to save the planet from catastrophic global warming.

  • Germany's former defence minister Franz Josef Jung has quit the cabinet over a deadly bombing in Afghanistan, the day after claims of a cover-up took the scalp of the country's top general.(AFP/DDP/Michael Kappeler)
    German minister quits over Afghan strike AFP - Fri Nov 27, 1:04 PM ET

    BERLIN (AFP) - Germany's former defence minister Franz Josef Jung quit the cabinet on Friday over a deadly air strike in Afghanistan, the day after claims of a cover-up took the scalp of the country's top general.

  • Space Shuttle Atlantis touches down on the shuttle landing facility at Kennedy Space Center in Cape Canaveral, Florida. The shuttle Atlantis landed back on Earth, capping a mission to the International Space Station and bringing NASA's small fleet of winged spaceships closer to looming retirement.(AFP/Getty Images/Matt Stroshane)
    Space shuttle Atlantis lands back on Earth AFP/Getty Images - Fri Nov 27, 10:57 AM ET

    HOUSTON, Texas (AFP) - The shuttle Atlantis landed back on Earth Friday, capping a mission to the International Space Station and bringing NASA's small fleet of winged spaceships closer to looming retirement.

  • Early morning shoppers look for Black Friday bargains at Target store in Burbank, California. The National Retail Federation said it expected 134 million people to be out shopping on 'Black Friday,' the big shopping day which comes one day after the Thanksgiving Day holiday, as well as on following Saturday and Sunday.(AFP/Robyn Beck)
    Big crowds hit US 'Black Friday' shops AFP - 27 minutes ago

    NEW YORK (AFP) - US stores threw their doors open before dawn on Black Friday, the biggest shopping day of the year, but just how wide recession-hit consumers would open their wallets was another question.

  • Russian Prime Minister Vladimir Putin (R) is welcomed by France's Prime Minister Francois Fillon as he arrives for a Franco-russian seminary session in Rambouillet, west of Paris. Putin won another victory for his aggressive energy diplomacy strategy Friday, signing a deal bringing French investment to a pipeline project.(AFP/Fred Dufour)
    Victory for Putin as France signs gas pipeline deal AFP - 1 hour, 54 minutes ago

    RAMBOUILLET, France (AFP) - Russian Prime Minister Vladimir Putin won another victory for his aggressive energy diplomacy strategy Friday, signing a deal bringing French investment to a pipeline project.

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    Metal-detector enthusiast unearths $5.5 million in gold Reuters - Thu Nov 26, 1:58 PM ET

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