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  • Korea summit means massive aid for North: analysts

    South Korea may be ready to offer billions of dollars to rebuild the failing North Korean economy when leaders meet for only the second ever summit between the enemy states later this month, analysts said.
  • Extreme floods hit 500 million people a year

    Homes and farmland drowned in increasingly severe floods are affecting some 500 million people a year and straining relief efforts, a senior U.N. official said on Thursday.
  • China defends toy safety, says problems limited

    Chinese-made toys are overwhelmingly safe and the number of unsafe products is dwarfed by the total export value, state media said on Friday, a week after Mattel pulled goods because of fears about lead in paint.
  • Nearly 80 percent of India lives on half dollar a day

    Seventy-seven percent of Indians -- about 836 million people -- live on less than half a dollar a day in one of the world's hottest economies, a government report said.
  • UK's Brown says foot and mouth held to limited area

    Prime Minister Gordon Brown reassured farmers on Friday that an outbreak of foot and mouth was restricted to a limited area of Britain and promised swift compensation for those hit by the livestock disease.
  • U.S. cracks down on employment of illegal immigrants

    The Bush administration said on Friday it would increase scrutiny and impose heftier fines on U.S. businesses that employ illegal immigrants as it sought to step up enforcement despite Congress's failure to reform immigration laws.
  • Central banks step in amid credit crisis

    Central banks around the globe pumped billions of dollars into banking systems on Friday in a concerted effort to beat back a widening credit crisis, and pledged to do more if needed. n all, central banks in Europe, Asia and North America have pumped out more than $300 billion over 48 hours in an effort to keep money flowing through the arteries of the global financial system, hoping to prevent a credit market seizure that could imperil economies.
  • U.S. ex-auto retail sales post slim growth in July

    U.S. retail sales excluding cars rose a modest 0.2 percent in July, as declining gasoline prices reined in overall sales growth, according to data from SpendingPulse released on Friday.
  • US consumers see steady jobless rate in year ahead-survey

    U.S. consumers generally expect the labor market to stay healthy, with only a third anticipating a rise in the unemployment rate in the coming year, according to a survey released on Friday.
  • Gauge of U.S. economy lower in latest week-ECRI

    A gauge of future U.S. economic growth fell in the latest week on lower stock prices and higher interest rates, and the measure's growth rate was down almost 1 percent, a research group said on Friday.
  • Sweden weighing if Dubai OMX move already a bid

    Sweden's financial regulator said on Friday it had requested information from Borse Dubai regarding its move this week to acquire shares in OMX and was considering whether a statement from the state-run firm may already represent an offer to buy all of OMX.
  • Fed injects $38 bln, conducts third operation

    The U.S. Federal Reserve provided the banking system with $38 billion on Friday, the largest amount of liquidity since the days after the September 11 attacks six years ago, adding ample funds for the second day running as financial markets fretted over credit conditions.
  • ECB acts again after Asia banks try to calm markets

    The European Central Bank mounted a second day of action to calm panicky credit markets on Friday, after Asia central banks joined a global campaign by monetary authorities to inject extra cash into banking systems.
  • Central banks move to calm panicky money markets

    Major central banks swept in to calm credit markets spooked by mounting losses on Thursday, with the European Central Bank injecting record amounts of cash to prevent a financial system seizure.
  • Subprime limited, cash input routine: Fed's Stern

    Federal Reserve Bank of Minneapolis President Gary Stern, playing down jitters in global money markets, said on Thursday that subprime mortgage problems were limited in scope and the Fed routinely injects substantial liquidity into the banking system.
  • Mortgage delinquencies, defaults spreading: AIG

    American International Group, one of the biggest U.S. mortgage lenders, warned on Thursday that mortgage defaults are spreading.
  • Canada's housing market cooling at 'steady pace'

    Canadian housing starts fell 4.3 percent in July to miss estimates while new home prices rose at a slower pace than in the prior month, suggesting a steady cooling of the domestic housing market.
  • Mexico inflation accelerates to 0.42 pct in July

    Mexican consumer prices jumped 0.42 percent in July, accelerating from June and pushing 12-month inflation above the 4-percent limit the central bank says is acceptable.
  • Fed - No large 1-day net reserve-projection misses

    The Federal Reserve said on Thursday it had no large one-day net misses in its reserve projections in the week ended August 8.
  • U.S., Canada reviewing Nexium, see no heart risk

    U.S. and Canadian regulators said on Thursday they were reviewing AstraZeneca Plc's widely used stomach drugs, Nexium and Prilosec, after data raised concern about heart problems with long-term use.