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November 27, 2008 Thursday
Updated

CHICAGO - PRESIDENT-ELECT Barack Obama is naming a board of economic experts from outside the government to advise him, in his latest bid to reassure nervous consumers and financial markets that he will bring swift economic relief as president.

Former Federal Reserve chairman Paul Volcker 81, will head the President's Economic Recovery Advisory Board, while the board's top staff official will be Austan Goolsbee, a University of Chicago economist, Mr Obama's office said on Wednesday.

 
US warns of terror plot

WASHINGTON - FEDERAL authorities are warning law enforcement personnel of a possible terror plot against the New York City subway system during the holiday season.

An internal memo obtained by The Associated Press says the FBI has received a 'plausible but unsubstantiated' report that Al-Qaeda terrorists may have discussed in late September attacks against the subway system.

Iraq delays US troop vote

BAGHDAD - IRAQ'S parliament on Wednesday delayed a vote on a landmark pact setting a deadline for US troops to leave, after agreeing to Sunni Arab demands to make it dependent on a referendum but rejecting other conditions.

The deal paves the way for US troops to withdraw by the end of 2011, bringing closer to an end the 2003 US-led invasion that ousted former dictator Saddam Hussein only to usher in years of sectarian bloodshed.

Melamine in US baby milk

WASHINGTON - US officials have found trace amounts of melamine in a single sample of infant formula made in the US, but believe the contamination resulted from the manufacturing process and was not intentional, CNN reported on Wednesday.

Of 77 samples tested, one contained traces of melamine, FDA spokesman Judy Leon told CNN. A reading of less than 250 parts per billion is considered trace.

   
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