Latest World News

Ban Deplores Terrorist Car Bombings In Spain

admin — Mon, 22 Sep 2008 23:09:30 +0000

UN Secretary-General Ban Ki-moon today strongly condemned the series of car bombings in northern Spain over the past two days that have left at least one person dead and wounded several others.

More: continued here

‘Electronic Cigarette’ not Safe According to UN

admin — Mon, 22 Sep 2008 20:09:18 +0000

The United Nations World Health Organization (WHO) said today that, contrary to claims by advertisers, the electronic cigarette - a battery-powered product usually made of stainless steel and resembling a real cigarette - has not been proven a safe …

More: continued here

Fed to regulate Goldman, M.Stanley; bailout takes shape

admin — Mon, 22 Sep 2008 22:09:15 +0000

WASHINGTON (Reuters) - Goldman Sachs and Morgan Stanley gave up their cherished investment banking status in return for cover under the Fed’s wing to survive a financial storm that U.S. authorities aim to tackle with a $700 billion bailout plan.

More: continued here

Congress examines $700 billion market bailout plan

admin — Sun, 21 Sep 2008 21:09:38 +0000

WASHINGTON (Reuters) - The Bush administration asked Congress on Saturday for $700 billion to bail out firms burdened with bad mortgage debt, seeking extraordinary authority as it tackles the worst financial crisis since the Great Depression.

More: continued here

Crisis Deepens in Horn of Africa

admin — Sun, 21 Sep 2008 21:09:09 +0000

The United Nations humanitarian relief chief made a passionate plea today for more funding to avoid a famine in the Horn of Africa on the scale witnessed in the 1980s.

More: continued here

U.S. launches all-out attack on credit crisis

admin — Sat, 20 Sep 2008 20:09:48 +0000

WASHINGTON (Reuters) - The United States surged into action on Friday to launch an all-out attack against the worst financial crisis since the Great Depression, readying a plan to tap hundreds of billions of dollars in taxpayer funds to buy up toxic mortgage-related debt.

More: continued here

U.S. works on bank debt plan, UK targets shorts

admin — Fri, 19 Sep 2008 20:09:52 +0000

NEW YORK/WASHINGTON (Reuters) - Governments on both sides of the Atlantic took radical steps to restore confidence in battered financial markets on Thursday, as the United States proposed a taxpayer-funded mopping up of toxic mortgage-related debt and Britain cracked down on short selling of bank stocks.

More: continued here

U.S. is Truly in an Economic Recession

admin — Fri, 19 Sep 2008 20:09:42 +0000

A recent Gallop poll reports that 79% of “purple state” consumers believe the economy is getting worse and 42% rate it as “poor.” The very real financial crunch they are feeling can be blamed on the rising costs for gasoline, food, health care or housing. …

More: continued here

Trade Unionists Arrested During Swaziland Protest

admin — Fri, 19 Sep 2008 00:09:10 +0000

The ITUC strongly protests against the arrests of trade unionists and prominent politicians today in Mbabane, Swaziland, while they were proceeding to the Swazi-South African border in protest over worsening conditions in Swaziland.

More: continued here

Wall St dealmaking intensifies as markets tumble

admin — Thu, 18 Sep 2008 21:09:27 +0000

HONG KONG (Reuters) - Wall Street dealmaking reached fever pitch, with Morgan Stanley holding preliminary sale talks, while other financial firms scrambled to find buyers as fear gripped markets, sending Asian stocks sharply lower.

More: continued here