APEC set for world trade, climate change talks
September 03 2007 4:52 PM
President George W. Bush hopes to spur momentum for a world trade pact and a global target on climate change at this week's APEC summit in Sydney, but host Australia has warned not to expect binding greenhouse targets. The Asia Pacific Economic Co-operation (APEC) summit will draw 21 leaders including Bush.
Trade diplomats roll sleeves up in new WTO push
September 03 2007 4:01 PM
Trade diplomats returned to the negotiating table on Monday for practical and business-like talks about the compromises needed to clinch a new global free trade accord this year.
Iraq still faces hurdles to pass oil law
September 03 2007 11:43 AM
Iraq's parliament must overcome major disagreements over control of the world's third biggest oil reserves before it can pass a vital oil law to lure billions in foreign investment, Iraqi officials said on Monday.
China, EU reassure on subprime fallout
September 03 2007 11:41 AM
China said on Monday none of its massive foreign exchange stockpile was invested in the teetering U.S. subprime mortgage sector, while a top EU official predicted the crisis would not choke off economic recovery.
Tech, drug companies battle over U.S. patent reform
September 03 2007 11:30 AM
Lawmakers returning from their summer break are expected to consider patent law changes that have pitted two of America's most invention-dependent industries against each other.
Student loan auction proposal stirs opposition
September 03 2007 11:27 AM
A proposal to test a radical change in the U.S. student loan industry by putting it on the auction block is set to pit Democratic lawmakers against the Bush administration and the banking industry.
Hurricane Felix threatens Central America
September 03 2007 10:58 AM
Hurricane warnings were posted for coastal Honduras as a potentially catastrophic Hurricane Felix, a top-ranked storm with 165 mile-per-hour (270 km per hour) winds, threatened Central America on Monday.
Collapse of an Empire
August 31 2007 9:22 PM
Flips and scams blamed in Southern Californian housing decline
Bush, Bernanke launch twin subprime assault
August 31 2007 4:22 PM
The Federal Reserve on Friday reassured investors it would take any steps needed to shelter the U.S. economy from a global credit squeeze, while President George W. Bush promised to help struggling homeowners refinance their mortgages. Chairman Ben Bernanke also said the central bank would not bail out investors who had made mistakes.
Bush subprime plan won't cure banks' credit woes
August 31 2007 4:06 PM
President George W. Bush's plan designed to limit the number of Americans who default on subprime mortgages might be a small positive for the commercial and investment banks exposed to them but does little to alleviate broader concerns about credit losses, analysts said.
Bush proposes steps to deal with mortgage crisis
August 31 2007 12:31 PM
President George W. Bush on Friday tried to calm financial market turmoil from the credit crisis by announcing proposals intended to prevent homeowners from defaulting on risky mortgages. In trying to soothe those worries, Bush said the U.S. economy was healthy enough to weather the credit crisis and that the subprime market problems represented only a modest part of the economy.
Text of Bernanke Speech at Jackson Hole
August 31 2007 11:16 AM
Prepared text of Federal Reserve Chairman Ben Bernanke's speech at Kansas City's Economic Symposium, Jackson Hole, Wyo.
Shortened Bush trip to APEC fuels criticism
August 31 2007 10:55 AM
The shorter Sept. visit to the Asia-Pacific economic summit is seen as neglecting Asia's concerns. An Iraq military report and 9/11 commemorations loom.
Bernanke: Ready to act if turmoil hits economy
August 31 2007 10:24 AM
The Federal Reserve is set to act as needed to limit impacts of financial turmoil on the economy but will not bail out investors who made poor decisions, Fed Chairman Ben Bernanke said on Friday. He also acknowledged that disruptions due to a slumping housing market and delinquencies among subprime loans could have damaging effects on the broader economy.
U.S. inflation slows as prices stabilize
August 31 2007 10:10 AM
Core U.S. consumer prices rose by a less-than-expected 0.1 percent in July, showing stable prices that held the year-on-year rate of nonfood, nonenergy inflation to 1.9 percent for the second month in a row, the Commerce Department said on Friday.
Musharraf's allies question deal with Bhutto
August 31 2007 9:58 AM
Allies of Pakistan's President Pervez Musharraf have raised objections to a power-sharing deal he is negotiating with former prime minister Benazir Bhutto, casting fresh doubt on the future of the embattled president.
India announces panel to study nuclear deal
August 31 2007 9:36 AM
The Indian government said on Thursday it had decided to form a panel to study a controversial nuclear deal with the United States, taking into account objections from communist parties who shore up the coalition.
China deals on the rise, but bankers hard to find
August 31 2007 9:20 AM
Chinese demand has already fuelled booms in markets from copper to shipping, but the rise of the world's fastest growing economy is also driving up prices for another hot commodity: bilingual bankers.
China uncovers worms, substandard goods from U.S.
August 31 2007 7:37 AM
China has found microscopic worms in wooden packaging from the United States and uncovered substandard U.S. vitamin pills and fish oil for children, Chinese media said on Friday in the latest volley of cross-border accusations.
Bush and Bernanke to launch twin subprime assault
August 31 2007 7:33 AM
U.S. President George W. Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut.