Washington (AP) The government is dropping the original focus of its $700 billion financial industry rescue plan. Treasury Secretary Henry Paulson says the money won't be used to buy up troubled bank assets. The administration will still use some of the money to buy bank stocks as a way to boost their balance sheets.

NEW YORK (AP) Wall Street has been down for a third straight session. The drop comes after disappointing reports from major retailers. It also follows news that the government won't be buying up banks' soured mortgage assets as originally planned. The Dow has been down about 300 points.

FORT LAUDERDALE, Fla. (AP) Officials say a teenage girl is dead and another is in custody after a shooting at a high school in Fort Lauderdale, Florida. The school was briefly locked down, but classes resumed soon afterward. Authorities are calling it an isolated incident, but the school superintendent says "we are more than heartbroken."


RICHMOND, Va. (AP) A federal appeals court has upheld bribery charges against Congressman William Jefferson of Louisiana. The ruling clears the way for a trial. The Democratic lawmaker had tried to dismiss the indictment. He said his constitutional rights were violated when the grand jury received evidence that violated legislative immunity.

WASHINGTON (AP) Three electronics firms are going to pay $585 million in fines, for conspiring to drive up prices for people buying computers, TVs and other devices with LCD screens. The companies are also agreeing to cooperate in an antitrust investigation being run by the Justice Department.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 11-12-08 1351CST | save this article / add to your favorites list