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| Obama prepares to meet the media | |
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| US President-elect Barack Obama is set to hold his first news conference since his election victory. | US President-elect Barack Obama is set to hold his first news conference since his election victory. |
| The sagging US economy is expected to take centre stage as Mr Obama and his Vice President-elect Joe Biden meet members of the media. | The sagging US economy is expected to take centre stage as Mr Obama and his Vice President-elect Joe Biden meet members of the media. |
| Before the news conference in Chicago, the pair will hold talks with a 17-member council of economic advisers. | |
| The president-elect's transition team said no further personnel announcements were expected to be made on Friday. | The president-elect's transition team said no further personnel announcements were expected to be made on Friday. |
| Mr Obama has already appointed as his chief-of-staff Illinois congressman Rahm Emanuel, who was once an adviser to President Bill Clinton. | Mr Obama has already appointed as his chief-of-staff Illinois congressman Rahm Emanuel, who was once an adviser to President Bill Clinton. |
| Obama campaign strategist David Axelrod is expected to take on the role of senior White House adviser - a post previously held by Karl Rove and Dan Bartlett under President George W Bush. Another aide, Robert Gibbs, is expected to become White House press secretary. | Obama campaign strategist David Axelrod is expected to take on the role of senior White House adviser - a post previously held by Karl Rove and Dan Bartlett under President George W Bush. Another aide, Robert Gibbs, is expected to become White House press secretary. |
| Jobs warning | Jobs warning |
| Analysts say Wall Street wants reassurance after the US labour department said on Friday the economy had shed 240,000 jobs in October, bringing job losses so far this year to 1.2 million. | Analysts say Wall Street wants reassurance after the US labour department said on Friday the economy had shed 240,000 jobs in October, bringing job losses so far this year to 1.2 million. |
| WHAT HAPPENS NEXT 9 Dec: Deadline for states to resolve issues such as recounts or challenges15 Dec: Electoral college electors meet in each state to formally cast their votes6 Jan: Joint session of Congress to count electoral college votesBefore 20 Jan: Barack Obama and Joe Biden must resign from the Senate20 Jan: Inauguration day Transition timetableProfile: Rahm EmanuelObama's top economic contendersObama shapes team | WHAT HAPPENS NEXT 9 Dec: Deadline for states to resolve issues such as recounts or challenges15 Dec: Electoral college electors meet in each state to formally cast their votes6 Jan: Joint session of Congress to count electoral college votesBefore 20 Jan: Barack Obama and Joe Biden must resign from the Senate20 Jan: Inauguration day Transition timetableProfile: Rahm EmanuelObama's top economic contendersObama shapes team |
| Mr Obama and Mr Biden will go into the news conference after meeting their team of economic advisers, who include the Clinton-era Treasury Secretary, Larry Summers, and his predecessor, Robert Rubin. | Mr Obama and Mr Biden will go into the news conference after meeting their team of economic advisers, who include the Clinton-era Treasury Secretary, Larry Summers, and his predecessor, Robert Rubin. |
| Paul Volcker, chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan, and Google chief executive Eric Schmidt are also attending. | Paul Volcker, chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan, and Google chief executive Eric Schmidt are also attending. |
| The billionaire investor, Warren Buffet, is joining the meeting by phone. | The billionaire investor, Warren Buffet, is joining the meeting by phone. |
| BBC North America editor Justin Webb says Mr Obama is also under pressure to name a treasury secretary soon in order to improve confidence in the markets, but a lesson of his rise to power has been that he picks his own pace. | BBC North America editor Justin Webb says Mr Obama is also under pressure to name a treasury secretary soon in order to improve confidence in the markets, but a lesson of his rise to power has been that he picks his own pace. |
| He is said to be considering Mr Summers, Mr Volcker, and Timothy Geithner, president of the New York Federal Reserve Bank. | He is said to be considering Mr Summers, Mr Volcker, and Timothy Geithner, president of the New York Federal Reserve Bank. |
| Mr Obama is also working with Democratic leaders in Congress on plans for two economic stimulus packages, which reportedly will include tax cuts for low- and middle-income workers, and plans to finance public infrastructure projects, to extend unemployment and food-stamp benefits, and to provide aid to badly affected states and cities. | Mr Obama is also working with Democratic leaders in Congress on plans for two economic stimulus packages, which reportedly will include tax cuts for low- and middle-income workers, and plans to finance public infrastructure projects, to extend unemployment and food-stamp benefits, and to provide aid to badly affected states and cities. |
| Mr Obama is due to discuss the economy with President Bush at the White House on Monday. He will not, however, attend the G20 economic summit to be held in Washington next weekend, senior officials have said. | Mr Obama is due to discuss the economy with President Bush at the White House on Monday. He will not, however, attend the G20 economic summit to be held in Washington next weekend, senior officials have said. |