News In Brief

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Much of European Union In Recession

Recession is official for much of Europe, with the economies of 15 countries using the euro shrinking for a second straight quarter because of the world financial crisis.

Twelve other nations in the European Union have so far escaped recession.

Sun Microsystems To Cut 18 Percent Of Workforce

Sun Microsystems Inc., one of the leading suppliers of computer servers and workstations, said Friday it plans to slash up to 6,000 jobs worldwide amid slowing sales.

U.S. Retail Sales Plunge In October

U.S. retailers saw a record drop in sales in October as the tighter credit and the faltering economy spooked consumers into sharp cut backs in their spending, the Commerce Department said Friday.

Japan Pledges $100 Billion To Help Global Crisis

Japan said Friday it will lend up to $100 billion to the International Monetary Fund to support nations reeling from the global financial crisis.

California Wildfires Destroy Dozens Of Homes

A wildifire in Santa Barbara County, Calif., has destroyed some 70 homes and left at least four people injured in the posh community of Montecito.

CIA Chief: Bin Laden Isolated, Al-Qaida 'Off Balance'

CIA Director Michael Hayden has said that Osama bin Laden is isolated from the day-to-day operations of al-Qaida, but that the terror network has expanded its influence in Africa and the Middle East.