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Obama announces Clinton, Gates for Cabinet (AP)
[12 mins][Iraq]

President-elect Barack Obama, left, stands with Secretary of State-designate Sen. Hillary Rodham Clinton, D-N.Y., center, and National Security Adviser-designate Ret. Marine Gen. James Jones, right, at a news conference in Chicago, Dec. 1, 2008. (AP Photo/Pablo Martinez Monsivais)

AP - President-elect Barack Obama picked a national security team headed by former campaign rival Hillary Rodham Clinton and Bush administration holdover Robert Gates on Monday, and said he wants to consult with military commanders before settling on a firm timetable to withdraw U.S. combat troops from Iraq.

U.S. in recession as Europe debates spending hikes (Reuters)
[26 mins][Kansas]

Workers wearing T-shirts with company slogans at Siemens MR Center located at the Shenzhen High-Tech Industrial Park in the southern Chinese city of Shenzhen in Guangdong province, November 25, 2008. (Bobby Yip/Reuters)

Reuters - The U.S. economy has slumped into a recession, the nation's business cycle arbiter declared on Monday, while European leaders clashed over how much public money to spend tackling a deepening downturn.

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