Welcome to Overnight News Digest, where the regular crew informs and entertains you with tonights top stories from the nation and the world.
Tonight's top story, as well as most of the other news, comes from Reuters.
China warns of trade war if U.S. currency bill passes
By David Stanway and Aileen Wang
BEIJING | Tue Oct 4, 2011 1:00am EDT
China warned Washington it is "adamantly opposed" to a proposed U.S. bill aimed at forcing Beijing to let its currency rise, saying its passage could lead to a trade war between the world's top two economies.
In a coordinated response, the Chinese central bank and the ministries of commerce and foreign affairs accused Washington of "politicizing" global currency issues.
The bill to be debated in the United States this week violates World Trade Organization rules and forcing the yuan to appreciate would weaken joint efforts to revive the global economy, the foreign ministry said.
More news after the jump.
More of the past 24 hours' new over the jump.
International News
Italian appeal court clears Amanda Knox of murder
By Deepa Babington
PERUGIA, Italy | Mon Oct 3, 2011 10:10pm EDT
Amanda Knox and her former boyfriend left prison after four years Monday when an Italian appeals court cleared them of the 2007 murder of British student Meredith Kercher.
Seattle native Knox and Italian computer student Raffaele Sollecito, had appealed against a 2009 verdict that found them guilty of murdering the 21-year-old Kercher during what prosecutors had said was a drug-fueled sexual assault four years ago.
A whoop of joy was heard in the court as the ruling overturning their sentences was read out but Knox herself broke down and was led out sobbing and supported by police officers.
Analysis: China to keep Pakistan embrace at arm's length
By Sui-Lee Wee
BEIJING | Mon Oct 3, 2011 11:45pm EDT
Pakistan, facing a crisis with the United States, has leaned closely to longtime partner China, offering its "all-weather friendship" with Beijing as an alternative to Washington.
But Pakistan will be disappointed if it hopes to replace American patronage with the same from China.
While China does not welcome the U.S. presence near its border, it wants stability on its western flank and believes an abrupt withdrawal of Washington's support for Pakistan could imperil that. It also does not want to upset warming relations with India by getting mired in subcontinent security tension.
U.S News
Obama's jobs bill falls to pieces in Congress
By Andy Sullivan and Laura MacInnis
WASHINGTON | Mon Oct 3, 2011 6:02pm EDT
President Barack Obama's job-creation package effectively fell to pieces on Monday as a top Republican lawmaker said the House of Representatives will only pass portions of the $447 billion measure.
As Obama continued to press lawmakers for a vote on his signature legislation, Representative Eric Cantor, the No. 2 House Republican, said that was not going to happen.
Asked if the bill as a complete package was dead, Cantor said: "Yes."
Health consumers make deficit fight personal
By David Morgan
WASHINGTON | Tue Oct 4, 2011 1:13am EDT
The numbers are devastating: almost 2,000 poor kids in Texas with cancer, another 18,000 with diabetes and more than 350,000 suffering from chronic lung disease, heart disease or stroke.
What sounds like a grim statistical report on poverty and disease is actually a lobbying message from Medicaid advocates to Texas congressman Jeb Hensarling, Republican co-chairman of a special congressional panel charged with cutting at least $1.2 trillion from the U.S. deficit over 10 years.
The message is in a 14-page electronic brochure titled "Medicaid's Impact in Texas," sent to Hensarling and other Texas lawmakers by the health consumer advocacy group Families USA, American Cancer Society Cancer Action Network, American Diabetes Association and American Lung Association.
Business
World stocks at 15-month low
By Chikako Mogi
TOKYO | Mon Oct 3, 2011 11:34pm EDT
Global stocks fell to a 15-month low on Tuesday, pinning Asian stocks near a 16-month low, as investors shed riskier assets on growing doubts over Greece's ability to avoid default, fuelling fears of global financial turmoil and recession.
Fears over the banking sector's exposure to euro zone sovereign debt and plummeting value of assets across the board further led to a sharp widening of credit default swaps.
Weakening outlook for industrial demand weighed on copper and oil while flight-to-safety strengthened gold, yen and the dollar.
UAW says contract talks with Ford going "smoothly"
DETROIT | Mon Oct 3, 2011 8:57pm EDT
Contract negotiations between Ford Motor Co and the United Auto Workers union are "progressing smoothly" and a breakdown in talks is "highly unlikely," the union said in a memo on Monday.
On Sunday night, the UAW called local union officials to Detroit for a Tuesday meeting in anticipation of reaching an agreement on a new four-year labor contract.
The UAW described this as an "indication that we believe we are very close to an agreement," according to the memo.
On the Lighter Side
'Arrested Development' Revival Gets Looks From Showtime, Netflix, IFC
By Tim Molloy at TheWrap
Mon Oct 3, 2011 2:22pm EDT
If Fox doesn't want to bring back "Arrested Development" for a just-announced new season, the show the network canceled in 2006 has other suitors.
Show co-creator and executive producer Mitch Hurwitz announced at a New Yorker Festival reunion Sunday that he planned to bring back the show for an abbreviated season to lead into a long-awaited "Arrested Development" movie. Fox has not said whether it will air the limited-run series -- or if it could run on cable cousin FX.
But 20th Century Fox TV, which co-produced the show, has talked with both Showtime and Netflix about bringing it back, a person familiar with the talks told TheWrap. IFC, which airs reruns of the show, is also interested, though no talks have taken place.
"Knocked Up" star Seth Rogen weds Lauren Miller
LOS ANGELES | Mon Oct 3, 2011 2:33pm EDT
Actor Seth Rogen married his long-term girlfriend, screenwriter Lauren Miller, in a ceremony on Sunday.
Known for playing the role of the hapless bachelor in films such as "Knocked Up," Rogen, 30, wed 29 year-old Miller after getting engaged in 2010, his publicist said.
