The First Draft: Monday, Dec 1

December 1, 2008

With the images of death and destruction in Mumbai last week fresh in everyone’s minds, U.S. President-elect Barack Obama is set on Monday to name his national security team
 
At a 10:40 EST (1540 GMT) news conference in Chicago, Obama is expected to name former rival Hillary Clinton as his secretary of state and nominate Defense Secretary Robert Gates to stay on in that role. In addition he is expected to name Arizona Gov. Janet Napolitano as homeland security secretary, Eric Holder as attorney general and adviser Susan Rice as ambassador to the United Nations.
    
After a series of three straight news conferences last week focused on the ailing U.S. economy, Obama will switch gears today as he will likely face questions about India and Pakistan and his proposed policies toward the two nuclear-armed nations.     
    
U.S. Secretary of State Condoleezza Rice will travel to India on Wednesday. She has been in contact with the foreign ministers of India and Pakistan in recent days to ease tensions between the states.

    
Indian investigators said the militants who attacked Mumbai underwent months of commando training in Pakistan, raising tensions between the neighboring nations as recriminations mounted in India. 

In an interview with the Financial Times , Pakistan President Asif Ali Zardari has appealed to India not to punish his country for the Mumbai attacks, saying militants have the power to precipitate a war in the region.
    
In economic news back home, stocks appeared set to fall after poor manufacturing figures from China and a raft of economic data expected in the U.S. this week.

Though retailers reported a solid start to holiday shopping with consumers spending more on bargains over the Thanksgiving weekend, overall holiday sales are likely to be worse than thought.

The Big Three U.S. automakers will try a second time this week to pursuade Congress to give them $25 billion to rescue their struggling industry. The Financial Times reported that GM, which owns Saab, and Volvo-owner Ford had approached Sweden’s government for financial help.

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