Wall Street rebounds on reported Treasury nomination (Reuters)

Reuters - Stocks surged on Friday to cap another volatile week as investors greeted with relief reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, lifting a major uncertainty from markets.

Fed’s Geithner to be tapped for Treasury: reports (Reuters)

Reuters - Timothy Geithner, the president of the New York Federal Reserve Bank, is expected to be tapped by President-elect Barack Obama to be the next secretary of the U.S. Treasury, NBC News and the Wall Street Journal reported on Friday.

Wall Street rally on news of Geithner for Treasury (Reuters)

Reuters - Stocks rallied late on Friday after multiple news reports that New York Federal Reserve President Timothy Geithner will be nominated as President-elect Barack Obama's Treasury secretary.

Bailout debate simmers as GM pares output (Reuters)

Reuters - Detroit automakers began work on the turnaround plans demanded by Congress in return for a possible $25 billion rescue as General Motors Corp said it will cut production more deeply and drop two of its controversial corporate jets.

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