Social security

President Obama (back to camera) holds a briefing on Afghanistan and Pakistan with his national security team in the Situation Room of the White House on Wednesday. (Getty Images)

President Obama (back to camera) holds a briefing on Afghanistan and Pakistan with his national security team in the Situation Room of the White House on Wednesday. (Getty Images)

U.S. government announces that there won’t be a cost of living increase for the States’ 50 million+ Social Security recipients next year. It’ll be the first year without a raise since the adjustments were adopted in ’75. The news comes the day after Obama called for a second stimulus of $250 for seniors, vets, retired railroad workers, and the disabled already on benefits. (AP, NPR hosted)

A record 1 billion people world-wide are suffering from hunger according to a new U.N. report, which says the number will increase if governments don’t spend more on agriculture. The report added 30 countries to its emergency-aid roster, 20 of which are in Africa alone. (AP)

Palestinians give U.N. the go ahead to continue censuring Israel based on the Goldstone report. UN chief Ban Ki-moon urged “credible” investigations by Israel and the Palestinians into allegations of war crimes during the conflict. (BBC)

Call it a stimulus or not, the Senate is figuring out how to inject another $20 billion into the economy in the form of additional jobless benefits for the unemployed, and an extended, expanded tax credit for homebuyers. (Politico)

Wall Street is poised to dish out record paymore bonus cash than in peak-year 2007. So why are many small businesses unable to get the credit they need to grow? (NPR)

The New York Times will not sell the Boston Globe, as unions have made enough concessions to stabilize the paper’s finances. (Reuters)

Five separate attacks on government buildings have left more than 30 dead in Pakistan, further adding to the country’s ongoing security crisis. (Al Jazeera)

China — hot new gateway to the countries-the-West-fear — praises its growing energy and trade ties with Iran, diminishing U.S. hopes that the Chinese will support initiatives to line up sanctions over Iran’s nuclear program. (WSJ)

Iran’s economy has already been hurt by years of U.S. trade sanctions that have hobbled its natural oil and gas industry so badly that despite its position as one of the largest oil producers, Iran has to import gasoline. China has pledged billions of dollars in energy infrastructure investment in Iran in exchange for guaranteed supplies of oil and natural gas, a growing relationship that has made it difficult to economically isolate the Persian Gulf country.

Bruce Wasserstein, chief executive of investment bank Lazard Ltd., died at age 61 yesterday. He dominated the Wall Street scene for the last thirty years, advising mergers and acquiring vast financial and media holdings, including New York magazine. (Crain’s)

— Staff

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