Wall Street appears to be heading to a sharply lower opening after economic data raised the possibility that the country is either in a recession or moving toward one.
American troops acting on a tip killed the No. 2 leader of al-Qaida in Iraq — a Moroccan known for his ability to recruit and motivate foreign fighters – in a raid in the northern city of Mosul, the U.S. military said Wednesday.
NEW YORK – PepsiCo announced plans on Tuesday to cut 3,300 jobs and close six plants as it deals with lagging U.S. drinks sales and a surging dollar, which will hurt profits from its rapidly growing international business.
OTTAWA – Canada’s Conservative prime minister appeared poised to retain his job as polls opened in Tuesday’s national election, but he faced a greater challenge in winning a parliamentary majority to bolster his power. Both polls and pundits predicted another minority government for Prime Minister Stephen Harper.
LONDON – Stock markets in Europe and Asia rose strongly for a second straight day Tuesday after Wall Street rallied from its worst week ever on optimism about government attempts to shore up the world’s battered financial system. The FTSE 100 index of leading shares was up 200.68 points, or 4.7 percent, at 4,457.58, while Germany’s DAX was up 211.63, or 4.2 percent, at 5,274.08. The CAC-40 in France was 168.01 points, or 4.8 percent, stronger at 3,699.51.
European governments say they are putting nearly $2 trillion on the line to protect the continent’s banks through guarantees and other emergency measures.
Wall Street snapped back from last week’s devastating losses after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks in some banks. All the major indexes rose well over 6 percent, and the Dow Jones industrials gained 500 points.
North Korea has lifted its ban on U.N. nuclear inspectors and is again allowing them access to the plutonium-producing plant it used to set up an atomic test explosion, diplomats said Monday.
Intense Santa Ana winds swept into Southern California Monday morning and whipped up a 3,000-acre wildfire, forcing the closure of a major freeway during rush hour and burning mobile homes and industrial buildings.
Paul Krugman, the Princeton University scholar, New York Times columnist and unabashed liberal, won the Nobel prize in economics Monday for his analysis of how economies of scale can affect international trade patterns.
North Korea said Sunday it will resume dismantling its main nuclear facilities, hours after the United States removed the communist country from a list of states that sponsor terrorism.
A Soyuz spacecraft with two Americans and a Russian on board lifted off from Kazakhstan on Sunday for the international space station.
When Bill and Hillary Clinton took the stage Sunday at a campaign rally in Pennsylvania, it will be the launch of an active campaign for their former nemesis Barack Obama in the home stretch of the 2008 presidential race.
Global finance ministers kept searching for ways to tackle the unfolding financial crisis, turning their attention to its effects on rapidly developing countries and poor nations at risk of being swept up in the turmoil.
ANCHORAGE, Alaska – A legislative committee investigating Alaska Gov. Sarah Palin has found she unlawfully abused her authority in firing the state's public safety commissioner.
Syria says it is holding two missing American journalists for illegally crossing the border from Lebanon.
A suspected U.S. missile strike targeted two areas in a Pakistani tribal region near the Afghan border Thursday, killing at least nine people, intelligence officials said.
A piece of paper that President Bush signed Thursday helps ease his way out of the White House when his term ends and clears the way for his successor.
Following a Federal Reserve federal funds rate cut of half a percent, banks around the world followed suit in a global effort to help the struggling economy. This global rate cut, along with the $700 billion bailout plan passed last Friday, are part of an effort to alleviate the current credit crisis and ease economic concerns. IU experts said they think the effects of this rate cut could be complicated and multi-faceted, but believe the Fed’s move could put banks in better position to lend money to individuals for car, student and housing loans, among others.
