Afternoon Update: Back on Capitol Hill, Auto Executives Still Find Skeptics

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		Thursday, December 4, 2008   Compiled 4 PM E.T.   TOP STORIES Advertisement Back on Capitol Hill, Auto Executives Still Find Skeptics By DAVID M. HERSZENHORN and DAVID STOUT Senator Christopher J. Dodd, who heads the banking committee, suggested that it would be difficult for lawmakers to approve a financial lifeline for the three companies. Bernanke Calls for More Help for Homeowners By JACK HEALY Foreclosures remain “too high,” hurting not only homeowners but lenders and the broader economy, the Fed chief said. Most Retailers Report a Dismal November By STEPHANIE ROSENBLOOM Most of the nation’s stores kicked-off the critical holiday shopping season with double-digit sales declines, portending more price-cuts in December. Stocks Follow a Pattern, Dropping in Last Hour By JACK HEALY Oil prices closed down $3 a barrel to $43.79 as the economy slows and demand eases. More Mumbai Links to Pakistan and Signs of Hostage Abuse By JEREMY KAHN and SALMAN MASOOD The Mumbai police identified a second Pakistani terrorist as an engineer of the attacks, as gruesome new evidence emerged of mistreatment of hostages. • NYTimes.com Homepage Back to Top N.Y. REGION OPINION Unofficial Portrait Mario M. Cuomo has refused to sit for an official portrait. Readers are invited to design their own portraits of New York’s governors. Bloggingheads Video Christopher Hayes of The Nation and Eli Lake of The New Republic, pictured, debate whether “American empire” is the best option. BUSINESS Central Banks Across Europe Cut Key Rates By CARTER DOUGHERTY The European Central Bank joined other central banks on Thursday in lowering borrowing costs to try to ease the financial crisis. Viacom and NBC Universal Are Latest to Trim Jobs By TIM ARANGO and BRIAN STELTER More than 850 employees were let go at Viacom and about 500 at NBC as advertising slows. AT&T Plans to Cut 12,000 Jobs By THE ASSOCIATED PRESS The company cited streamlining and a changing business mix for laying off about 4 percent of its work force. DEALBOOK Prudential to Sell Wachovia Securities Stake to Wells By DEALBOOK The deal could yield the nation’s second-largest life insurance company a $1.7 billion after-tax gain. Wave of Job Cuts Hits Banks in Europe By JULIA WERDIGIER and BETTINA WASSENER Among the investment banks announcing work force cuts was Credit Suisse, which will eliminate 5,300 jobs, 11 percent of the total. • More Business News Back to Top   About This E-Mail You received these headlines because you are subscribed to Afternoon Update from NYTimes.com. As a member of the BBBOnline Privacy Program and the TRUSTe privacy program, we are committed to protecting your privacy. Manage My Subscriptions  |  Unsubscribe  |  Change Your E-Mail  |  PrivacyPolicy  |  How to Advertise Please include the following ID number when writing to feedback@nytimes.com so that we can track any reports of problems:  57468657 Copyright 2008 | The New York Times Company | Privacy Policy | NYTimes.com 620 Eighth Avenue New York, NY 10018