| THURSDAY 6TH NOVEMBER 20.00 AND 22.30 GMT - BBC TWO FROM PROGRAMME PRODUCER ROBERT MORGAN Hello, INTEREST RATES SLASHED The Bank of England has surprised the city by slashing interest rates by 1.5% - the biggest reduction for more than a quarter of a century. The base rate now stands at 3 per cent - lower than the Eurozone. Gordon Brown has urged banks to pass the cut on to homeowners. Economics Editor, Paul Mason asks whether the UK's current policy framework can actually cope with a period of recession, financial crisis and potential slump. OBAMA Barack Obama has begun the task of forming his new administration - just a day after becoming the American President elect. He's named several key figures of his transition team, and has asked an Illinois Congressman, Rahm Emanuel, to be his Chief of Staff. Over the next few days he's also expected to announce the name of his Treasury Secretary - who will have the task of steering the US economy through the global financial crisis. David Grossman will be in Chicago where President-elect Obama is preparing his White House team. We'll also be joined by a senior Democrat to talk through who will get the key White House posts. GLENROTHES Voters are still at the polls in the Glenrothes by-election. Labour is defending a majority of more than 10,000 in the Fife constituency following the death of MP John MacDougall. There are eight candidates. The result should be known by the early hours of tomorrow. Michael Crick will have the latest from the count. OBAMA NATION Why are so many British politicians racing to claim President-elect Obama as one of their own? Our Newsnight political panel will try to find the answer for us live. Missed Newsnight? Click here to watch the latest programme online Newsnight Blog Add your comments to our correspondents' blogs: CLICK HERE | 
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