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UPDATE 2-Moody's sees severe recession, rising defaults
very limited,' but added he saw opportunities this year on the need of companies to refinance their debt. 'Refinancing needs are going to be pushing activity in the markets' in 2009, he said. (Editing by Leslie Adler) Keywords: MOODY'S/ (Reuters

LyondellBasell's U.S. Operations and One of Its European Holding Companies File Chapter 11 to Restructure Balance Sheet
fund continuing operations. Of this total, $3.25 billion consists of new funding; $3.25 billion represents a refinancing of certain obligations under LyondellBasell's existing senior secured credit facilities; and $1.515 billion represents replacement of

Israel: Hamas mortars led to attack near U.N. school
Three artillery shells believed to have been fired by Israeli forces struck near the perimeter of a U.N. school in northern Gaza on Tuesday, killing at least 30 people and wounding 55, a U.N. official said.
Tue, 06 Jan 2009 14:34:41 EST

Blair: Cease-fire must halt Hamas smuggling
Any cease-fire in the Gaza conflict will require "clear and definitive action" to halt the smuggling of weapons and money into the Hamas-ruled Palestinian territory, former British Prime Minister Tony Blair said Tuesday.
Tue, 06 Jan 2009 14:36:09 EST

Gaza horrors sow seeds for future violence
Mohammed Abu Hassanin may be a young boy, but he's old enough to know he's scared of the attacks being launched by Israel in Gaza.
Mon, 05 Jan 2009 22:51:24 EST

Gas row flares as supplies to Europe cut
Several European countries said Tuesday their supply of natural gas from Russia had been cut or reduced amid a dispute over payments between Russia and Ukraine.
Tue, 06 Jan 2009 14:11:20 EST