Cool, dry weather to persist after record rain
Wednesday’s miserable weather proved to be a record-setter here in the Boston area. Logan airport reported a Dec. 7-record 1.60 inches of rain, breaking the old high mark of 1.15” set back in 1959.
Central bank lowers rates but dashes hopes
BRUSSELS — A move by Europe’s central bank to bolster the region’s economy was overshadowed by worries that political leaders will not act boldly enough to contain the region’s debt crisis at a two-day summit meeting that began here on Thursday.
As stakes rise, Newt Gingrich seeks deep pockets
With just four weeks to go until the Republican primary season begins, Newt Gingrich spent his Monday not on the hustings of Iowa, New Hampshire, or South Carolina, but in Midtown Manhattan, prospecting for what his newly resurgent campaign needs most desperately: money.
Iran warns that penalties could mean soaring oil prices
Alarmed by the possibility of new Western penalties that could abruptly reduce or even halt its oil exports, Iran issued a warning Monday that crude oil prices could more than double to $250 a barrel if such sanctions were given serious consideration.
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MADISON, Wis. — As states and cities struggle to resolve paralyzing budget shortfalls by sending workers on unpaid furloughs, freezing salaries and extracting larger contributions for health benefits and pensions, a growing number of public-sector workers are finding fewer reasons to stay.
US adds 120,000 jobs; rate drops to 8.6 percent
The U.S. unemployment rate unexpectedly fell to its lowest level in two-and-a-half years in November, despite the many global crises batting against the economy.
United Russia’s losses may affect Putin’s presidential bid
MOSCOW — Vladimir V. Putin was not the subject of Sunday’s bruising vote in Russia, but you would not have known it from watching him when the early results came in. He looked like someone who has just received very bad news, and stumbled his way through a speech to his supporters, barely forcing a smile before stepping off the podium.
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Standard & Poor’s on Monday warned that it may strip the eurozone’s two biggest economies, Germany and France, of their top-notch AAA credit ratings as a result of the continent’s economic crisis. The agency also said the ratings of 13 other eurozone countries were vulnerable.
Return to seasonal temps
While the usual temperature range in Cambridge for this time of year is between 31°F and 45°F, yesterday we saw highs over 60°F, and today will reach a similar high. However, with a low pressure system moving over the region, precipitation will increase and temperatures will drop closer to average over the next few days.
Senate democrats try again on tax plan to raise rates on top earners
WASHINGTON — Senate Democrats said Monday that they would try for the fifth time in two months to raise taxes on top earners to pay for legislation that would reduce Social Security payroll taxes, as President Barack Obama sought to keep congressional Republicans on the defensive, asserting that their intransigence could cause a tax increase for tens of millions of American workers.
European Central Bank head suggests wider rescue is possible, pending spending discipline
FRANKFURT, Germany — Mario Draghi, the president of the European Central Bank, laid the groundwork for a more aggressive response to the debt crisis Thursday, suggesting that the bank could increase its support for the European economy if political leaders took more radical steps to enforce spending discipline among members.
EU tightens sanctions against Iran after embassy attack
BERLIN — The European Union announced tightened sanctions against Iran on Thursday in the aftermath of the storming of Britain’s Tehran embassy, adding 180 Iranian officials and companies to a blacklist that freezes their assets and bans travel to member states.
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CAIRO — The Muslim Brotherhood’s political arm Thursday distanced itself from a more conservative Islamist party as early vote tallies indicated that the two factions would claim the two largest roles in the first Parliament elected since the ouster of President Hosni Mubarak.
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HONG KONG — The Chinese manufacturing sector contracted in November, according to a closely watched barometer, indicating that a key engine of global growth is getting dragged down by the economic woes of Europe and the United States and by the Chinese authorities’ moves to cool inflation.
After Clinton visit, US to relax some curbs on aid to Myanmar
YANGON, Myanmar — Secretary of State Hillary Rodham Clinton said Thursday that the United States would loosen some restrictions on international financial assistance and development programs in Myanmar, in response to a nascent political and economic opening in the country.
Seasonal temperatures for now, but warming up
Earlier this week, New England experienced above normal temperatures. Highs have been in the mid to upper 60s (18–20°C) with generally clear weather (despite the quick 0.76” of rain at Logan Airport last Tuesday night). But today, cooler weather has arrived since winds have become northerly and are bringing air down from Canada. A high pressure just to our west will keep cool air blowing in through Saturday.
Israeli leader visits Jordan to discuss Palestinian issue
JERUSALEM — King Abdullah II of Jordan played host Monday to Shimon Peres, the president of Israel, in an effort to make progress on the stubborn Palestinian question at a time of regional diplomatic uncertainty and fragmentation.
Obama meets with EU leaders on debt crisis
WASHINGTON — President Barack Obama met with top European Union leaders as the eurozone sovereign debt crisis entered a perilous new phase, with increasing worries about the sustainability of the 17-country monetary union and borrowing costs climbing to new peaks.
Silver Lake and Microsoft expected to bid for stake in Yahoo
A consortium of investors led by the private equity firm Silver Lake and Microsoft is one of several parties that will be submitting a plan to take a minority stake in Yahoo, according to people briefed on the matter.
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BAGHDAD — A yellow taxi loaded with explosives blew up Monday at the crowded front gates of a prison north of Baghdad, killing at least 13 people, many of them security guards or civilians waiting to visit jailed family members.