UNITED STATES

Finance ministers and central bankers of the Group of Seven major industrialized nations will confer by telephone on turmoil in the financial markets later on Saturday or on Sunday, a senior European diplomatic source said.

In the event Monday witnesses a massive sell-off of Treasuries, bond yields would surge.

Three large explosions from the Sun over the past few days have prompted U.S. government scientists to caution users of satellite, telecommunications and electric equipment to prepare for possible disruptions over the next few days.

A helicopter was shot down by insurgents Friday night, killing 31 special force U.S. troops which included 22 SEALs. Seven Afghans were also killed during the firefight.

While S&P?s downgrade of the U.S. Government?s credit rating is controversial, most agree that the U.S. fiscal condition is serious. And while both Democrats and Republicans increased the budget deficit, three major policy errors by President George W. Bush last decade substantially worsened the U.S.?s fiscal condition, and the nation has been trying to recover ever since.

China was quick to jump on Standard and Poor's (S&P) historic downgrade of U.S. debt.

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A Chinook helicopter was attacked in Afghanistan in the Sayd Abad district of the Wardak province killing 31 US forces, 25 of them being Navy Elite SEALs. The SEALs were part of Team Six, the unit that infiltrated and killed Osama Bin Laden in Pakistan several months ago.

Republican presidential hopefuls congresswoman Michelle Bachmann of Minnesota and businessman Herman Cain have also called for Geithner to quit.

Part of the problem is that the downgrade (while perhaps not a total surprise) arrived somewhat unexpectedly ? and during a period when markets are already extremely volatile and fragile.

Marking the deadliest incident in the decade-long war, a military helicopter was shot down by the Taliban in eastern Afghanistan Saturday night, killing 31 U.S. special operation troops -- most of whom were Navy SEALS from "Team Six" - the unit that carried out the raid that killed Osama bin Laden, officials said.

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Texas Governor Rick Perry called a prayer meeting in Houston on Saturday. He attended, and prayed for President Barack Obama. Perry is expected to soon announce his bid as a Republican presidential candidate.

The path to a debt deal took too long and was too divisive, and lawmakers must now work together to strengthen the country's fiscal position and spur growth, White House spokesman Jay Carney said on Saturday.

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America's credit rating was downgraded for the first time in history. This will likely have dire consequences on mortgage and credit rates, not to mention the unemployment rate, which now stands at 9.1 percent.

Join Winne the Pooh - the world's Ambassador of Friendship- in celebrating old and new friends around the world with these fun quotes, games and activities.

Standard and Poor?s, one of the Big Three rating?s agencies, just downgraded the U.S. sovereign debt from a sterling AAA to a less trustworthy AA+.

The group Anonymous says it has hacked as many as 70 law U.S. law enforcement websites.

Big, brash and confident as ever, Simon Cowell said on Friday that his upcoming "The X Factor" would thrash the competition on U.S. television and topple "American Idol" as the nation's most-watched show.

President Barack Obama urged lawmakers on Saturday to set aside partisan politics after a fierce debt battle, saying they must work to put America's fiscal house in order and refocus on stimulating its stagnant economy.