US-AFGHANISTAN
UPDATE: Obama to address nation on Afghanistan Tuesday
WASHINGTON (AP) — President Barack Obama will address the nation on his new strategy for the war in Afghanistan Tuesday night from the U.S. Military Academy at West Point.
The president is expected to lay out his plans for expanding the Afghan conflict and, ultimately, ending America's military role.
The president and his top military and national security advisers have held 10 meetings to discuss America's future steps in Afghanistan. Though the top general in Afghanistan has asked the president for about 40,000 troops, military officials expect the president will deploy about 35,000, starting next year.
The president says the American people will support his strategy once they understand the perils of losing the war.
AFGHAN-TALIBAN
Taliban leader issues Muslim holiday message
KABUL (AP) — The Taliban's reclusive leader is calling on Afghans to continue what he calls their "legitimate jihad" or holy war.
Mullah Omar has issued a Muslim holiday message urging them to break off relations with an Afghan government that he refers to as "this stooge Kabul administration."
His message was posted on a Web site used by the Taliban and was e-mailed to journalists from an address often used to send out Omar's messages.
Omar said the people of Afghanistan would not agree to any negotiations that would prolong the presence of foreign forces in the country. He insists the insurgents have gained the upper hand and are winning the war.
The Taliban leader hasn't been seen in years. Afghan officials claim he's hiding in Pakistan.
OBAMA-COPENHAGEN
Official: Obama going to Copenhagen climate summit
WASHINGTON (AP) — A White House official says President Barack Obama will travel to Copenhagen next month for a global climate conference.
The official says the president will be in Copenhagen on Dec. 9 before heading to Oslo to accept the Nobel Peace Prize. Obama's attendance had been in question until now.
At least 65 world leaders will attend and seek to lay out the framework for a new global warming treaty. Obama has said the goal at the Copenhagen meeting should be an agreement that has "immediate operational effect," not just a political declaration. The official spoke on the condition of anonymity because the formal announcement has not been made.
WALL STREET
Stocks turn higher amid flurry of economic data
NEW YORK (AP) — Stocks have turned mostly higher in late morning trading.
They had been mixed as reports showing a smaller rise in new claims for jobless benefits and strong consumer spending were offset by an unexpected decline in durable goods orders.
The Labor Department says new claims for unemployment insurance fell by 35,000 to 466,000. That's the fewest claims since the week ending Sept. 13, 2008, and far better than the 500,000 that economists expected.
The Commerce Department, meanwhile, says consumer spending rose a brisk 0.7 percent last month, following a 0.6 percent pullback in September.
But the agency also says orders for big-ticket factory goods fell in October.
NEW HOME SALES
October new US home sales rise 6.2 percent
WASHINGTON (AP) — Sales of new homes rose more than expected last month to the highest level in more than a year as the housing market shows stability after its historic collapse.
The Commerce Department says sales rose 6.2 percent to a seasonally adjusted annual rate of 430,000 from an upwardly revised 405,000 in September. Economists surveyed by Thomson Reuters had expected a pace of 410,000.
Home shoppers in October were acting before lawmakers decided to extend a tax credit for first-time buyers and expand it to existing homeowners. Nevertheless, sales were up 5.1 percent from a year ago, the first yearly increase since November 2005.
The median sales price of $212,200 was off 0.5 percent from $213,200 a year earlier, but up 0.7 percent from September's level of $210,700.
THANKSGIVING TRAVEL
Americans hitting the road, even for long trips
UNDATED (AP) — Some holiday travelers say the economy has improved between this Thanksgiving and last, but things are still tight.
Experts think that's why many are deciding that car travel may make the most financial sense this holiday weekend. That's also how travelers stopping at an Interstate 75 service plaza in Ohio see it.
John and Janet Lawson of Kentucky are opting to drive the 350 miles to Dearborn Heights, Mich. That's instead of paying air fare to visit other relatives farther away.
They left home at 4 a.m. to beat traffic. Their SUV is loaded with turkey, gravy, stuffing, cranberry sauce, sweet potatoes and pies. John Lawson says if they get stranded on the side of the road, they won't starve.
A couple making the trip from Ohio to Virginia is taking that logic a step further. They stowed food in their car so they wouldn't have to spend money at restaurants along the way.
A Wisconsin man feeling the economic pinch says he's found an even easier way to save money this holiday weekend. He's staying home.
SWITZERLAND-POLANSKI
NEW: Polanski wins bail in Switzerland, but stays in jail for now
GENEVA (AP) — A Swiss court has approved Roman Polanski's bail offer of $4.5 million to be released from prison and kept under house arrest and electronic monitoring at his Swiss chalet.
But the Swiss Justice Ministry says it will keep Polanski in jail until it decides whether to appeal his release to the country's supreme court.
Spokesman Folco Galli says the ministry will make its decision "quickly," even though it has 10 days to appeal.
The Swiss Criminal Court still considers Polanski a high flight risk. Its ruling Wednesday said the new bail offer was significant enough to offset those concerns.
The decision does not affect the Swiss government's ongoing assessment of whether it should extradite Polanski to the U.S. for having sex in 1977 with a 13-year-old girl.
PAKISTAN-MUMBAI ATTACKS
Pakistan charges 7 suspects in Mumbai attacks
ISLAMABAD (AP) — Attorneys say seven Pakistanis have been indicted in last year's Mumbai terrorist attack.
The indictments came on the eve of the first anniversary of the attacks that terrorized the city for three days and killed 166 people. India and the United States are watching the case closely to see if Islamabad makes good on promises to punish those responsible.
The prosecutor and defense attorney say the seven suspects pleaded not guilty to charges they helped plan and execute the attacks. The men could face the death penalty if convicted.
India is trying the man identified as the lone surviving gunman, who also faces the death penalty if convicted.
TOYOTA-FLOOR MATS
Toyota to replace almost four million gas pedals that could jam
WASHINGTON (AP) — A Toyota spokesman says the automaker is confident that replacing gas pedals on 3.8 million U.S. vehicles will fix a sudden acceleration problem.
Irv Miller says company investigators found that pedals becoming stuck in the floor mat is the major issue. Miller says there's no reason to believe there's a problem with electronic control systems.
As a temporary step, Toyota will have dealers shorten the length of gas pedals beginning in January. New pedals should be ready in April, and some vehicles will have brake override systems installed as a precaution.
The massive recall, announced in September, includes the popular Toyota Camry and Prius. The Camry is the top-selling passenger car in America, while the Prius is the best-selling gas-electric hybrid.
MORTGAGE RATES
NEW: Rates on 30-year mortgages match record low
McLEAN, Va. (AP) — Freddie Mac reports that average rates for 30-year fixed mortgages have matched a record low of 4.78 percent this week.
Rates for 30-year mortgages hit an all-time low the week ending April 30. Since then, rates have hovered near 5 percent, spurring refinancing activity and home sales.
However, credit standards remain stringent, so the best rates usually are available only to borrowers with solid credit and a 20 percent down payment.
The Federal Reserve has pumped $1.25 trillion into mortgage-backed securities to try to lower rates on mortgages and loosen credit availability. Rates on 30-year mortgages traditionally track yields on long-term government debt.
WILDFIRE
Wind weighs on battle against Orange County blaze
ANAHEIM, Calif. (AP) — Firefighters battling a 60-acre blaze in Orange County are keeping an eye on the weather.
Capt. Greg McKeown of the Orange County Fire Authority says 50-mph wind gusts are expected later Wednesday and could fan the smoldering blaze back to life. He says wind will be the major factor that determines whether the fire grows.
The blaze erupted Tuesday night and is burning brushy hills in an unincorporated area near Anaheim. It's 10 percent contained and no homes are immediately threatened.
About 200 firefighters and a helicopter are at the scene.
SPAIN-ROCKET MAN
NEW: Rocket man's bid to fly from Morocco to Spain fails
ATLANTERRA, Spain (AP) — A Swiss adventurer has gone down in the Atlantic while trying to fly from Morocco to Spain on jet-powered wings. A rescue helicopter has pulled him from the water and he appears to be unhurt.
Yves Rossy took off from Tangiers on Wednesday but halfway through an expected 15-minute flight he went down into wind-swept waters.
"Winds were certainly difficult today," the organizers' Twitter Web feed said.
Live television footage of the attempt showed Rossy waving while in the water waiting to be rescued.
The 50-year-old former fighter pilot had attempted the feat with a homemade wing spanning 2.5 meters (8 feet) strapped to his back and powered by four kerosene-fueled jet engines.
To add a comment, please register or login.