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 Global 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
World markets slump as Nikkei hits 26-year low
LONDON - European stock markets fell heavily Monday after the Nikkei index in Japan closed at its lowest in 26 years as the financial crisis raised recession fears and drove up the yen, piling the pressure on the country's exporters.
Nations:South Korea Ukraine Philippines Hungary Activities:Global Financial Crisis Hong Kong Markets Japanese Markets Chinese Markets Source:(AP)
2008-10-27
Fed aids money markets; Wall Street falls
WASHINGTON (Reuters) - The Federal Reserve and governments around the world loosened strained financial markets on Tuesday by pumping in more money and launching bank rescues, but poor corporate profits and recession fears drove down commodities and U.S. stocks.
Nations:Ukraine Pakistan Japan France Argentina People:Henry Paulson Ben Bernanke Barack Obama John McCain Activities:Global Financial Crisis U.S. Markets
2008-10-21
Rice says US not trying to undermine Russia
ASTANA, Kazakhstan - Secretary of State Condoleezza Rice on Sunday rejected any suggestion that U.S. efforts to build closer ties to this former Soviet republic are meant to undermine Russian influence in Central Asia.
Nations:Kazakhstan Russia Afghanistan Ukraine People:John Negroponte Condoleezza Rice Dick Cheney Activities:Russia-U.S. Source:(AP)
2008-10-05
Cheney slams Russia over war against Georgia
TBILISI, Georgia - Demonstrating Washington's commitment to beleaguered Georgia, U.S. Vice President Dick Cheney flew in Thursday and condemned Russia for what he called an "illegitimate, unilateral attempt" to redraw Georgia's borders by force.
Nations:Russia Turkey Ukraine Italy People:Dmitry Medvedev Condoleezza Rice Dick Cheney George W. Bush Activities:2008 Georgia War Russia-U.S. Source:(AP)
2008-09-04
Querrey's 2nd upset of Open earns match vs. Nadal
NEW YORK - Sam Querrey is so young that there isn't a trace of irony when he mentions growing up rooting for Andy Roddick and James Blake, two guys still very much on tour and still in their 20s.
Nations:Italy Latvia Ukraine Switzerland Japan People:Venus Williams David Nalbandian Svetlana Kuznetsova James Blake Andy Murray Tomas Berdych Activities:2008 U.S. Tennis Open
2008-08-30
US, Russia anchor military ships in Georgian ports
BATUMI, Georgia - A U.S. military ship loaded with aid docked at a southern Georgian port Wednesday, and Russia sent three missile boats to another Georgian port as the standoff escalated over a nation devastated by war with Russia.
Nations:Russia Ukraine People:Dmitry Medvedev Activities:2008 Georgia War U.S.-Russia Military Relations
2008-08-27
Russia's gains in Georgia may leave it more isolated
Paris - Russia thirsts to once again be a great power - a lesson the West is learning in Georgia. On Monday, Russia's parliament voted unanimously to recognize the independence of Georgian rebel regions South Ossetia and Abkhazia - the flashpoints of recent fighting. Also, Russian President Dmitry Medvedev fired a warning shot about another frozen ethnic conflict in Moldova.
Nations:France Russia Afghanistan Estonia Belarus Ukraine People:Dmitry Medvedev Nicolas Sarkozy Vladimir Putin Activities:2008 Georgia War Source:(Christian Science Monitor)
2008-08-26
Russian lawmakers recognize Georgia separatists
MOSCOW - Russia's parliament voted unanimously Monday to urge the president to recognize the independence of Georgia's two breakaway regions, stoking further tensions between Moscow and the small Caucasus nation's Western allies.
Nations:Ukraine Russia France Turkey Bulgaria Romania People:Dmitry Medvedev Nicolas Sarkozy Angela Merkel Dick Cheney Activities:2008 Georgia War Source:(AP)
2008-08-25
US Navy warship sails into Georgia with aid
ABOARD THE U.S.S. MCFAUL - A U.S. Navy warship carrying humanitarian aid anchored at the Georgian port of Batumi on Sunday, sending a strong signal of support to an embattled ally as Russian forces built up around two separatist regions.
Nations:Russia Ukraine Turkey Bulgaria Romania Activities:2008 Georgia War U.S.-Russia Military Relations Source:(AP)
2008-08-24
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