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1.After an early decline, a partial rebound¹ on Wall Street following an unusual and emergency interest rate cut by the Fed. The Dow Jones Industrial Average was down more than 400 points after trading began, but closed the day with a milder drop down 126.

2.Former senator Fred Thompson drops out of the presidential race. The decision coming after a disappointing performance in the South Carolina primary. Thompson is not saying if he will endorse² anyone else.

3.Seventeen years and four months in prison for Jose Padilla, convicted of supporting terrorism, originally accused of plotting to detonate a radioactive dirty bomb in a major US city.

4.The envelope please. Oscar nominations³ are in. Leading the way, "There Will Be Blood" and "No Country For Old Men", snaring⁴ the most nods. But the real drama may be outside the ceremony. Some Hollywood stars say they will not show up if the writers' strike continues.