NPR 2008-12-06

The news the economy lost more than half a million jobs last month, the worst one-month drop in 34 years from many economists 1, confirms the current recession could be longer and deeper than first thought. The government also revised downwards 2 to the previous two months' job losses and said the unemployment rate has risen to 6. 7%, its highest level in 15 years. Over the financial market, it seems to largely shrug 3 that off today. Alan Skrainka is chief market strategist at Edward Jones. He says the market was already prepared for a big number. "Many investors 4 had fairly been bracing 5 for a bad jobs report. There were sort of guesses that the number could be very very bad, as high as 500, 000, and then when we got the report, I think, you know, much of these bad news had already been reflected in the market.”  Government says since the start of the recession roughly a year ago, the US economy has now lost nearly two million jobs. Around a third of those job losses have taken place in the past three months.

On Wall Street today, the Dow Jones Industrial Average was up 259 points. So for the week, the Dow fell 193 points. The S&P 500 gained 30 points.

For a second consecutive 6 day, the chief executives of Detroit's Big Three were on Capitol Hill pleading for a financial bailout. At the White House today, President Bush, however, suggested that the Big Three's days may be numbered. More from NPR's David Welna.

President Bush declared in the White House Rose Garden that while he's concerned about the viability 7 of the auto 8 companies, he also sees them as a risky 9 bet for taxpayers 10. "I'm concerned about those who work for the automobile 11 companies and their families. And likewise, I am concerned about taxpayers’ money for being provided to those companies that may not survive. " The president's suggestion of US automakers’ disappearing did not set well with Gary Barbera, a Philadelphia Chrysler-Chevy dealer 12, who is at the Capitol to push for a bailout for the auto industry. "I mean no disrespect. But he's, just I mean, I find it offensive. " Others accused the Bush administration of having a double standard that favors financial firms over industry. David Welna, NPR News, the Capitol.

India's government is facing growing anger about last week's attacks in Mumbai. NPR's Philip Reeves reports.

This deep anger in India with the country's political leaders. They are widely accused of failing to prevent the attacks. India's equivalent of the interior minister has resigned. Today his replacement 13 P. Chidambaram admitted that there were security lapses 14. He said these will be looked into and their causes will be addressed soon. Allegations are flying thick and fast in India that Pakistan's intelligence agency, the ISI, was involved in plotting the assault. Pakistan denies it. Asked about this, Chidambaram refused to give details, though he said there’s evidence that those who carried out the assaults in Mumbai were linked to organizations or entities 15 behind previous terrorist attacks. Philip Reeves, NPR News, New Delhi.

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The nation's highest court has agreed to take up the case of whether the president can order the people picked up in the US can be detained indefinitely and held without criminal charges. The court, in an order released today said it will review the Bush administration's aggressive use of preventative detention 16 for suspected terrorists. The administration says the president has the authority to order the military to detain anyone suspected of being a member of al-Qaeda, although that policy has been challenged by Ali al-Marri, a native of Qatar, who’s the only enemy combatant seized and held on US soil.

Secretary of State Condoleezza Rice says it is well past time for President Robert Mugabe to leave office. Her comments added to the growing international pressure on the Zimbabwean leaders, some of them coming from Africa. NPR's Ofeibea Quist-Arcton reports.

The Nobel Peace Laureate, Emeritus 17 Archbishop Desmond Tutu blamed President Robert Mugabe for the crisis in Zimbabwe and said if need be, African countries should use military force against the veteran leader. "If they say to him: step down and he refuses, they must (be) going (to) do so militarily.” Kenya's Prime Minister made a similar suggestion Thursday. Tutu also said Mugabe should be threatened with prosecution 18. "The world must say: Look, you have been responsible with your cohorts for gross violations 19 and you are going to face indictment 20 in the Hague unless you step down.” Ofeibea Quist-Arcton NPR News, Johannesburg.

It's been described as among the biggest jewelry 21 heists in history. French police say a gang of armed robbers, at least two of whom were dressed in drag, grabbed 100 million dollars worth of diamond rings, necklaces and luxury watches from a Harry 22 Winston boutique in Paris. Officials say the robbery took place as the store was closing yesterday.