Typhoon Morakot moved toward Taiwan Thursday, promising to bring heavy rain and high winds to the island and other areas over the next few days.
Searchers rescued at least 53 people and about 33 are missing after a ferry capsized in the Pacific Ocean overnight near Tonga’s capital, Nuku’alofa, a search and rescue officer said early Friday. The surprise measure takes the total sum injected into the economy via government-backed “quantitative easing” to £175 billion ($294 billion).
The Bank of England announced plans Thursday to pump another £50 billion ($84 billion) into the UK economy in a fresh effort to steer the country out of a recession which it admitted had been "deeper than previously thought." The surprise measure takes the total sum injected into the economy via government-backed “quantitative easing” to £175 billion ($294 billion). The sum exceeds the £150 billion ($252 billion) the bank was authorized to create when the plan was announced in March. But in an exchange of letters with UK finance minister Alistair Darling, Bank of England Governor Mervyn King said an extension of the scheme was necessary to meet the government’s 2 percent inflation target
Whether or not health care reform actually passes in the end, this may be remembered as the week that the reality of the challenge such a massive overhaul poses finally dawned on lawmakers. And that reality is this: It’s all about the dollars. Coming up with a bill that doesn’t add to the deficit is turning out to be even harder than members of Congress thought it would be
Don’t get too excited about signs of life in the economy. Some days it seems there’s good news everywhere: home sales ticking up, slower job losses, the Dow turning positive for the year. But all that misses a looming reality
Guitarist Carlos Santana signed on as the first rock ‘n’ roll resident artist at the Las Vegas Hard Rock Hotel and Casino’s new concert hall, The Joint.
President Obama said Tuesday "there are no quick fixes" to pull the economy out of recession, but he insisted the country will recover. In his second prime time news conference, Obama called on Americans to look to the future with a “renewed confidence that a better day will come.” “We will recover from this recession,” the president said.
President Barack Obama continued a two-day campaign-style swing through California Thursday, announcing the distribution of $145 million in new Housing and Urban Development funds at a town hall meeting in Los Angeles. The funds, which will target those communities hardest hit by the home foreclosure crisis, “will be used to buy up and rehabilitate vacant and foreclosed homes, and resell those homes with affordable mortgages, (as well as) to provide mortgage assistance and rehabilitation loans for low-income and middle-income families,” Obama said to an enthusiastic crowd at the Miguel Contreras Learning Center
President Obama’s speech to a joint session of Congress may be one of the best political speeches of the last few decades. It will certainly be remembered for its cadence, passion, and a degree of astute articulation which has been missing from the national debate recently. What the speech did lay out is a road map for getting the economy back in shape and then keeping it expanding.
A national poll indicates that two-thirds of those who watched President Barack Obama’s address to a joint session of Congress on Tuesday night had a very positive reaction to his speech. Sixty-eight percent of speech-watchers questioned in a CNN/Opinion Research Corp. survey had a very positive reaction, with 24 percent indicating that they had a somewhat positive response and 8 percent indicating that they had a negative reaction.