Obama to tap Princeton’s Rouse for econ council (Reuters)

Reuters – President-elect Barack Obama is expected to name Cecilia Rouse, a Princeton University labor economist, to the Council of Economic Advisers, an aide with the Obama transition office said on Wednesday.

California governor offers new budget fix plan (Reuters)

Reuters – California Gov. Arnold Schwarzenegger on Wednesday proposed closing a $42 billion budget gap by shortening the school year, borrowing nearly $5 billion, raising the sales tax and tapping the state lottery.

Wall St closes out worst year since Depression (Reuters)

The year movement of the Dow Jones industrial average. (Graphics/Reuters)Reuters – Wall Street closed out its worst year since the Great Depression on Wednesday after an unstoppable credit crisis and a dreadful economic outlook left investors questioning their faith in stock markets.

Esophageal cancer linked to osteoporosis drugs

BOSTON (Reuters) – Merck’s popular osteoporosis drug Fosamax and other similar drugs may carry a risk for esophageal cancer, a Food and Drug Administration official said on Wednesday.

Circulating fluid keeps donated kidneys healthier

BOSTON (Reuters) – Machines that send fluid circulating through a donated kidney while it is being preserved for transplant keep the organ healthier than the standard method of simply immersing it in fluid and transporting it on ice, doctors reported on Wednesday.

Antiobitics before infections save lives: study

LONDON (Reuters) – Giving antibiotics to patients in intensive care units as a precaution saves lives, according to a major Dutch study published Wednesday.

Oil jumps 14 percent, products up (Reuters)

A woman fills petrol into her car at a filling station in Puchheim westward of Munich in this December 12, 2008 file photo. (Michaela Rehle/Reuters)Reuters – U.S. crude oil rose 14 percent on the final trading day of 2008 in thin pre-holiday trade on Wednesday, tracking a jump in gasoline as a slowdown in domestic refinery activity sparked fears of tightening fuel supply this winter.

Jobless claims data paint bleak picture for 2009 (AP)

In this Nov. 7, 2008 file photo, job seekers look for employment opportunities and work on resumes at WorkSource California, a program jointly funded by the state, city and county of Los Angeles, at their Mid-Wilshire office in Los Angeles. The government said Wednesday, Dec. 31, 2008, the number of newly laid off workers signing up for unemployment benefits fell sharply last week. However, those continuing to draw aid climbed to the highest level since 1982. (AP Photo/Reed Saxon, File)AP – The number of laid-off workers continuing to draw unemployment benefits bolted to 4.5 million in late December, and even more Americans are expected to join the ranks of the jobless in 2009.