U.S. Top News Late Edition: Asian shares gain, but economy fears remain

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Good evening Srini, THU 16 Oct 2008  today's headlines Asian shares gain, but economy fears remain Obama and McCain trade wisecracks, not attacks Recession looms despite global interventions U.S. safety board seeks urgent jet engine checks U.S. consulate shuts in Mexico as shots fired nearby GM to lay off 1,500 hourly workers as demand slows Hurricane Omar weakens after surging into Atlantic Petraeus seeking broad support for U.S. strategy Gates backs pact for troops in Iraq Executives saw conditions worsening before crash   today's videos "Joe the Plumber" speaks out Talk of the Town:Duchovny divorce Obama, McCain hit final stretch more details Asian shares gain, but economy fears remain October 16, 2008 10:34 PM ET HONG KONG (Reuters) - Asian shares gained tentatively on Friday, recovering some of the steep losses in the prior session, after encouraging earnings signals from technology firms such as IBM eased some of the concerns over a global recession. Full Article Obama and McCain trade wisecracks, not attacks October 16, 2008 10:24 PM ET NEW YORK (Reuters) - Democrat Barack Obama and Republican John McCain shared the same stage and microphone again on Thursday, but this time they traded wisecracks instead of campaign attacks. Full Article Recession looms despite global interventions October 16, 2008 07:24 PM ET NEW YORK (Reuters) - Government steps to shore up the banking system and unfreeze credit markets showed some signs of progress on Thursday, but grim news from major economies reinforced fears of recession and hammered global markets. Full Article U.S. safety board seeks urgent jet engine checks October 16, 2008 07:55 PM ET WASHINGTON (Reuters) - U.S. safety investigators on Thursday urgently recommended stepped-up inspections of certain Pratt & Whitney engines on dozens of passenger jets to detect possible flaws linked to the most catastrophic type of failure. Full Article U.S. consulate shuts in Mexico as shots fired nearby October 16, 2008 08:34 PM ET MONTERREY, Mexico (Reuters) - Gunmen fired shots near a U.S. consulate in northern Mexico on Thursday days after a similar attack on the building and officials suspended visa services, a U.S. official said. Full Article GM to lay off 1,500 hourly workers as demand slows October 16, 2008 03:13 PM ET DETROIT (Reuters) - General Motors Corp will lay off 1,500 hourly workers at plants in Michigan and Delaware where it builds pickup trucks, large cars and a two-seat roadster due to slowing demand, a spokesman said on Thursday. Full Article Hurricane Omar weakens after surging into Atlantic October 16, 2008 05:43 PM ET SAN JUAN (Reuters) - Hurricane Omar weakened in the Atlantic on Thursday after threading its way through the small islands of the northeastern Caribbean as a powerful storm that caused far less damage than its punch had threatened. Full Article Petraeus seeking broad support for U.S. strategy October 16, 2008 03:49 PM ET WASHINGTON (Reuters) - Even before he takes command of U.S. military strategy for Afghanistan and Pakistan, Gen. David Petraeus is reaching beyond the military sphere to encourage international support for stabilizing the region. Full Article Gates backs pact for troops in Iraq October 16, 2008 05:29 PM ET WASHINGTON (Reuters) - U.S. Defense Secretary Robert Gates supports a draft deal with Iraq that would provide a new legal basis to keep American forces there after a U.N. mandate expires on December 31, the Pentagon said on Thursday. Full Article Executives saw conditions worsening before crash October 16, 2008 08:25 PM ET KIAWAH ISLAND, South Carolina (Reuters) - Top U.S. executives were bracing for a downturn even before the financial markets collapsed late last month, according to a survey conducted in September by the Business Council. Full Article     REUTERS www.reuters.com Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book.Details Subscribe to other Reuters newsletters Unsubscribe from this newsletter. Forward this mailing to a friend or colleague Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Interactive TV | Labs | Reuters in Second Life | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers