Leaders seek to prevent future economic crisis
WASHINGTON - World leaders battling a historic economic crisis agreed Saturday to flag risky investing and regulatory weak spots in hopes of avoiding future financial meltdowns.
Nations:Japan India Brazil U.K. France U.S. People:Nicolas Sarkozy Jim Leach Gordon Brown Robert Zoellick Angela Merkel Barack Obama Activities:G20 Summit
2008-11-15
Obama receives congratulations from world leaders
CHICAGO - President-elect Obama accepted congratulations from nine presidents and prime ministers Thursday, returning calls from world leaders who reached out after his presidential victory.
Nations:Mexico U.K. South Korea Canada Afghanistan Iraq People:Kevin Rudd Lee Myung-Bak Nicolas Sarkozy Gordon Brown Felipe Calderon Ehud Olmert Activities:Obama Admin. US Election 2008
2008-11-06
Economy shrinks as consumers cut back on spending
WASHINGTON - The government says the economy shrank in the third quarter as consumers cut back on their spending by the biggest amount in 28 years. It was the strongest signal yet the country has hurtled into recession.
Nations:Ukraine Brazil Mexico South Korea Hungary People:Ben Bernanke Activities:2008 U.S. Recession
2008-10-30
U.S., China kick off global round of rate cuts
NEW YORK - The United States and China kicked off what is likely to be a global round of interest rate cuts, part of a barrage of measures deployed around the world to fight a deep economic slowdown.
Nations:China South Korea U.S. Belarus Ukraine Pakistan People:Barack Obama John McCain Activities:Global Financial Crisis
2008-10-29
Fed cuts key interest rate half-point to 1 percent
WASHINGTON - The Federal Reserve slashed a key interest rate by half a percentage point Wednesday, driving it to a level seen only once before in the last half-century, and the government finally began distributing funds from the billions in the financial rescue package.
Nations:Ukraine Brazil Mexico South Korea Hungary People:Ben Bernanke Activities:Global Financial Crisis
2008-10-29
US moves to get $700B bank rescue effort started
The Bush administration said Monday it is moving quickly to implement a $700 billion rescue program, including consulting with private law firms on how to buy ownership shares in banks to help thaw frozen lending and get the economy moving again.
Nations:India Brazil France Mexico People:Gordon Brown Henry Paulson Ben Bernanke Activities:Global Financial Crisis
2008-10-13
World stock markets plunge on crisis fears
LONDON - Stock markets slumped worldwide Monday, some marking record one-day drops, on fears the global financial crisis will worsen and hit the wider economy despite bank bailouts in the U.S. and Europe.
Nations:Germany France Luxembourg Brazil Colombia India Activities:Global Financial Crisis Japanese Markets U.S. Markets European Markets Source:(AP)
2008-10-06
45,000 given go-ahead to return to Galveston
GALVESTON, Texas - One week after Hurricane Ike wiped out whole neighborhoods and nearly every basic service in Galveston, there is a plan to start letting some 45,000 evacuees back to their hobbled hometown.
Nations:U.S. Mexico People:Chris Duncan Activities:2008 Hurricane Ike Source:(AP)
2008-09-20
Oil closes below $100 for first time in 6 months
NEW YORK - Oil prices closed below $100 a barrel for the first time in six months Monday, tumbling in another dramatic sell-off as the demise of Lehman Brothers and the sale of Merrill Lynch deepened worries about the U.S. economy.
Nations:Nigeria Mexico Activities:2007-8 Oil Crisis 2008 Hurricane Ike 2008 Hurricane Gustav
2008-09-15
Obama camp suggests Palin has distorted record
WASHINGTON - The question of whether Sarah Palin has ever been to Iraq pushed Obama aides Saturday to accuse the McCain campaign of outright lies, distortions and distractions to the American people.
Nations:Kuwait Mexico U.S. Germany Canada People:Sarah Palin Barack Obama John McCain Activities:US Election 2008 Source:(AP)
2008-09-14
Rescue crews comb Texas coast for Ike victims
HOUSTON - Rescue crews navigated flooded and debris-strewn streets Saturday to search for those who insisted on staying and riding out a fierce Hurricane Ike, which shattered skyscraper windows, cut power to millions and flooded thousands of homes as it sloshed across the Texas coast.
Nations:U.S. Mexico People:Chris Duncan Activities:2008 Hurricane Ike 2008 Hurricane Gustav 2005 Hurricane Katrina
2008-09-13
Ike floods roads, whips waves along Texas
HOUSTON - Hurricane Ike, a colossal storm nearly as big as Texas itself, began battering the coast Friday, threatening to obliterate waterfront towns and give the skyscrapers, refineries and docks of the nation's fourth-largest city their worst pounding in a generation.
Nations:Mexico U.S. Activities:2008 Hurricane Ike 2005 Hurricane Katrina Source:(AP)
2008-09-12
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