President Obama has told Democratic supporters not to be discouraged by the election results giving Republicans control of the House. Mr. Obama says he's told Republican leaders he wants to cooperate on issues affecting the American people. “I told John Boehner and Mitch McConnell that I look forward to working with them, and I thanked Nancy Pelosi and Harry Reid for their extraordinary leadership over the last two years.” Mr. Obama's discouraging the idea of trying to repeal the health care law. Boehner, who is to become the next House speaker, says Republicans will do everything they can to wipe the legislation off the books.
NPR News has learned that a Massey Energy coal mine in Kentucky is considered so dangerous that Federal regulators are seeking court intervention. As NPR's Howard Berkes reports, government wants the court to shut down the facility. The Labor Department has never sought this kind of this federal court action, despite having that authority for 33 years. But there's been pressure from the White House and Congress to get tough since 29 miners died at Massey Energy's Upper Big Branch mine in April. The agency wants a federal judge to shut down Massey's Freedom No.1 mine in Kentucky and supervise a safety overhaul. Court documents describe six rockfalls there since August and a persistent pattern of safety violations involving falling rock, explosive coal dust, ventilation and electrical equipment. Massey Energy says it’s reviewing the court documents and will do whatever is necessary to assure the safety of its miners. Howard Berkes, NPR News.
The Federal Reserve is moving to inject more money into a struggling economy. Market News International's Steve Beckner reports that the move suits investors just fine. Wall Street has been pining for more quantitative easing ever since Fed Chairman Ben Bernanke broached the possibility in late August. And stocks are higher inwake of the actual Fed announcement that it will buy another $600 billion in treasury securities by the middle of next year to push down long-term interest rates. Those lower rates tend to make equities more attractive and that's reflected in a higher close for the major stock indices. The Dow Jones Industrial Average and the NASDAQ Composite up roughly 0.25% and the S&P500 more than 1/3 of a percent. Lower yields on five-year treasury notes, where Fed purchases will be concentrated, offset a rise in ten and 30-year bond yields. The dollar is weaker on the Fed announcement. For NPR News, I'm Steve Berker in Washington.
Flight attendants at Delta Airlines have narrowly rejected a proposal to become unionized. The difference was just 328 votes. The Association of Flight Attendants says it will now ask federal regulators to investigate whether the company interfered with the vote. The AFA also says it'll seek a recount. The vote was to decide if all or none of the flight attendant would be in the union. This is NPR News.
Secretary of State Hillary Clinton is calling for swift Senate approval of a new arms control treaty between the United States and Russia. Some Republicans have expressed concern that the deal could limit America's ability to build a missile defense shield. They are also concerned that it may be difficult to verify compliance. Clinton is in New Zealand in a bid to fully restore ties that have been strained since 1985. That's when New Zealand began denying entry to US warships because the Pentagon was refusing to declare if they were carrying nuclear weapons. The president of South Korea says he hopes to ratify a stalled free trade agreement with the US when his nation hosts the G20 summit next week. From Seoul, Doualy Xaykaothao reports that South Korean officials hope to use the occasion to also resolve a few other issues. South Korea's President Lee Myung-bak says he not only wants to produce tangible results to strengthen the global financial safety nets during the summit, but on the sidelines of the meeting he hopes Washington and Seoul will work out key issues on their trade pact signed three years ago. In a televised speech earlier today, a translator quotes Lee as saying the FTA will benefit both countries. “The KORUS FTA will not, I repeat will not, reduce jobs either in Korea or in the United States.”
Additional trade talks are expected early next week regarding unfair trade conditions for automobiles and beef imports. For NPR News, I'm Doualy Xaykaothao in Seoul.
A Qantas Airlines passenger plane had to make an emergency landing during a Singapore to Sydney flight Thursday because of a mid-air engine problem. Police and witnesses have reported hearing an explosion as the passenger plane flew over Indonesia, but Qantas officials say the plane landed safely.
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