U.S. congressional leaders have reached a compromise to end the partial shutdown of the Federal Aviation Administration, the agency that oversees the nation’s airlines and air safety. U.S. Senate Majority Leader Harry Reid announced the bipartisan deal late Thursday. He said it will put 74,000 transportation and construction employees back to work, but he did […]
US Congressional Leaders Compromise to End FAA Shutdown
Posted August 4th, 2011 at 6:15 pm (UTC-5)
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Police: Breivik Traveled Abroad to Prepare for 2 Norway Attacks
Posted August 4th, 2011 at 5:40 pm (UTC-5)
Norwegian police say the man who claimed responsibility for the deaths of 77 people in last month’s twin attacks in Norway says he traveled abroad in preparation for the attacks, but that he acted alone. Oslo police prosecutor Christian Hatlo told reporters Thursday that suspected killer Anders Behring Breivik told investigators that he had traveled […]
Urges ‘Unfettered’ Aid to Shabab-controlled Somalia
Posted August 4th, 2011 at 5:25 pm (UTC-5)
U.S. Secretary of State Hillary Clinton is calling on the al-Shabab militant group to allow aid groups “unfettered” access to bring food assistance to the more than a million people facing famine in the part of Somalia they control. At a press conference Thursday, Clinton said this would allow aid groups to save as many […]
Latest News from Around the World
Posted August 4th, 2011 at 4:54 pm (UTC-5)
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US Military Chiefs Warn Against Further Defense Cuts
Posted August 4th, 2011 at 4:45 pm (UTC-5)
U.S. Defense Secretary Leon Panetta and Chairman of the Joint Chiefs of Staff Michael Mullen say they are concerned about the possibility of further defense spending cuts. Panetta and Mullen told reporters Thursday that they understand the need for the $350 billion in defense cuts in the deal to raise the debt ceiling that was […]
US Stocks Follow Europe, Fall Sharply
Posted August 4th, 2011 at 4:45 pm (UTC-5)
U.S. stock market indexes closed down four to five percentage points in Thursday’s trading, amid continued concern over the progress of global economic growth. The Dow Jones Industrial Average closed down 4.3 percent to 11,384. The broader S&P 500 dropped 4.8 percent to 1,200 and the NASDAQ composite index fell 5 percent to 2,556. European […]
Crude Oil Prices Fall
Posted August 4th, 2011 at 4:45 pm (UTC-5)
Here are the prices of some key commodities traded in New York on Thursday: Commodity prices fell sharply as concerns deepened about economic weakness in the United States and Europe. Crude oil prices plunged more than $4 to close at $87.84 per barrel. Coffee prices dropped more than 6 cents to finish at $2.36 a […]
US Senator Announces Compromise to End FAA Shutdown
Posted August 4th, 2011 at 4:25 pm (UTC-5)
U.S. Senate Majority Leader Harry Reid says there is a bipartisan compromise to end the partial shutdown of the Federal Aviation Administration, the agency that oversees the nation’s airlines and air safety. In a statement Thursday, Reid did not specify details of the compromise. Congressional sources say they expect the Senate on Friday to accept […]
Stocks Plunge in US, Europe Amid New Worries of Global Downturn
Posted August 4th, 2011 at 4:25 pm (UTC-5)
Stock markets plunged in the United States and Europe on Thursday amid new concerns that the world may be headed for another sharp economic downturn. In the United States, the Dow Jones Industrial Average plummeted more than 510 points, or 4.3 percent, its largest drop since 2008. The U.S. losses came as major European exchanges […]
South Africa Diamond Strike Ends
Posted August 4th, 2011 at 4:25 pm (UTC-5)
More than 1,300 diamond miners are headed back to work in South Africa after negotiating raises up to 10 percent. International diamond giant De Beers said Thursday the two-week strike was its first in nearly two decades. The company said in a statement entry-level workers would receive the 10-percent wage hike while more skilled workers […]
