Third big Iceland bank files for U.S. bankruptcy

NEW YORK, Dec 9 (Reuters) – Landsbanki Islands hf sought bankruptcy protection from its U.S. creditors on Tuesday, the last of Iceland’s three largest banks to do so in the last two weeks. The Reykjavik-based lender filed a Chapter 15 bankruptcy

NY Times, McClatchy brace for tough ’09

NEW YORK (Reuters) – The New York Times Co and McClatchy Co said on Tuesday they will work to reduce debt in 2009, which is shaping up to be one of the toughest years for the U.S. newspaper industry.

Jay Leno takes his act to prime-time TV

LOS ANGELES (Reuters) – Comic Jay Leno will launch his own nightly talk show in prime time next year in a landmark television deal that keeps him from moving to a rival network after his planned departure as host of “The Tonight Show,” NBC said on Tuesday.

Marriott CFO warns of "tough 2009"

LOS ANGELES (Reuters) – Hotel operator Marriott International Inc expects “to have to navigate through a tough 2009,” the company’s chief financial officer said on Tuesday.

Illinois lawmakers want special Senate election

CHICAGO (Reuters) – The heads of the Illinois state legislature said on Tuesday they will call the General Assembly into session to pass legislation on a special election to fill the U.S. Senate seat vacated by President-elect Barack Obama.

Mumbai attacks reveal Pakistan challenges: Petraeus

ROME (Reuters) – The attacks that killed 171 people in Mumbai spoke volumes about the security challenges in neighboring Pakistan, General David Petraeus said on Tuesday.

Obama says climate change a matter of national security

CHICAGO (Reuters) – President-elect Barack Obama said on Tuesday attacking global climate change is a “matter of urgency” that will create jobs as he got advice from Al Gore, who won a Nobel Peace Prize for his work on the issue.

Recipe for Big Three Bailout: Haircuts, Car Czars, and Virgin Sacrifice

Senate Majority Leader Harry Reid said today he hopes to hold a vote Wednesday on a $15 billion rescue package for U.S. automakers. Some Republicans, notably Sen. Richard Shelby, have threatened to filibuster and stop the bill, but let’s assume — fo