- Israel says it is ready for "long weeks of action" as it continues the fourth day of an air assault on Gaza. Palestinian officials say the death toll is more than 360 since Saturday. Four Israelis have died in rocket fire. — BBC News [1]
- Consumer confidence in the US dropped again, hitting a new record low in December, according to a monthly survey. — Washington Post [2]
- The Bush administration expanded its bailout of the auto industry today, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion. — Reuters [3]
- Public schools across the country, hurt by state and local government cutbacks, are tapping parents for extra funds. — Wall Street Journal [4]
- Home prices in 20 major American cities declined at the fastest rate on record, brought down by increased foreclosures and decreased sales. — Bloomberg [5]
Source [6]