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World News
From The Financial Times
- Treasury outlines more details of Tarp
- Neel Kashkari, a senior Treasury official, offered more details of how the US bank recapitalisation plan would work
- Scramble to avoid collapse
- World leaders were scrambling to finalise rescue plans for their banking systems as Asian markets made cautious gains
amid continued fears the financial system is on the brink of collapse. In the eurozone, governments have agreed to offer guarantees
on bank debt. Britain was preparing to pump billions
into four of its largest banks. In the US, officials were finishing up a plan
to recapitalise banks
- World weighs McCain and Obama
- While Obama calls for greater use of diplomacy, McCain highlights his tough stance on Russia and autocracies around the world. Both say they will seek to rebuild the image and influence of the US after eight years of George W. Bush as president
- McCain faces dilemma on campaign attacks
- The Republican candidate is caught between responding to grassroots calls for harsher attacks on Barack Obama and the risks of alienating independent voters.
- Doctors shortage imperils healthcare pledge
- Inadequate supply of primary care physicians and certain specialists in Massachusetts threatens the state's reform initiative and could hinder efforts to enact universal healthcare
- Charities expect to be next to feel fallout
- US non-profit groups brace for a decline in giving from both corporations and financially stretched individuals as the credit crisis deepens, following trends in past downturns
- N Korea to dismantle reactor again
- Pyongyang will resume dismantling its nuclear reactor following a US decision to remove it from its list of sponsors of terrorism, the state-run Korean Central News Agency says
- Bush removes North Korea from terror list
- President George W. Bush removed North Korea from the US terrorism list in a move to resurrect a nuclear disarmament process that was in danger of collapse
- US pleads for patience in crisis repair efforts
- President George W. Bush said the financial crisis will require a global, coordinated response and the top industrial nations will work together to solve it quickly, but cautioned it would not be fixed overnight
- Probe finds Palin abused her power
- Sarah Palin abused her power as governor of Alaska, according to an official report released into the so-called 'Troopergate' scandal that has clouded her candidacy as John McCain's Republican vice-presidential running-mate
- US in de facto support for bank liabilities
- The US is likely to strengthen its implicit guarantee for all bank deposits and bank debt but stop short of a formal legal guarantee, as it tries to save its banks without destroying its non-bank financial sector
- Congress in new turmoil hearings
- Democratic leaders in Congress responsible for economic policy are calling some legislators back to Washington before the November election for a new round of hearings on the financial crisis.
- Campaign sketches make headline news
- American comedians are relishing a sudden golden age in which presidential campaign sketches have become headline news, driving record audiences to television comedy shows, stand-up clubs and once obscure websites
- US trade deficit narrows by 3.5%
- The US trade deficit narrowed by 3.5 per cent to $59.1bn in August, the commerce department said, mainly as a result of a decline in oil imports
- Loyalists urge McCain to attack rival
- The financial crisis has reinforced demand for change after eight years of Republican administration and focused attention on John McCain's weakest issue
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