Friday, May 07, 2010
International Headlines
> UK FACES HUNG PARLIAMENT AFTER ELECTION
British Prime Minister Gordon Brown has given no indication that
he will step down, despite exit-poll predictions that his Labour
party has come second in elections for the House of Commons.
> EUROPEAN LEADERS HIT AT RATINGS AGENCIES
The world's credit ratings agencies have come under attack from
Germany and France over their role in Europe's debt crisis, with
the U.S. joining calls for tough measures to curb their
influence over markets.
> HUGE DOW CRASH CAUSES MASS FEAR
Erin Burnett, the anchor of CNBC's Street Signs afternoon TV
show, ended Thursday's programme saying it had been "the most
exciting 15 minutes in Street Signs' history".
> VIOLENCE IN ATHENS AFTER AUSTERITY VOTE
Violence breaks out between police and demonstrators in Athens
hours after Greek lawmakers approved an unpopular package of
budget-cutting measures.
> CONTAINMENT DOME LOWERED AT LEAK SITE
A massive dome began its descent into the Gulf of Mexico to cap
a gushing oil leak about 5,000 feet below the surface, a BP
official said Friday.
> 'MAJOR MISTAKES' MADE IN OIL RIG SINKING
A four-story containment dome is expected to arrive Thursday
morning at the site of the Gulf of Mexico's gushing oil well,
where BP will attempt to lower the container onto a ruptured
deep-water pipe.
> U.S. EXTENDS TRAVEL WARNING TO MEXICO
The U.S. State Department on Thursday extended a travel warning
that had been issued for Mexico because of the region's high
level of drug and gang violence.
> TIMES SQUARE SUSPECT 'HAD TALIBAN TIES'
Faisal Shahzad made a practice run in Manhattan the day before
he allegedly tried to blow up a car bomb in Times Square.
BUSINESS
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> NIKKEI SLIDE CONTINUES GLOBAL SELL-OFF
The Nikkei-225 Index in Tokyo closed 3.1 percent lower on Friday
as the global sell-off -- sparked by the debt crisis in Greece
and a wild session on Wall Street -- continued to roll with the
sun across the financial world.
> BANK OF JAPAN PUMPS FUNDS INTO MARKET
The Bank of Japan moved to offer Y2,000bn ($21.6bn) in overnight
liquidity on Friday to "increase markets' sense of security"
because of turmoil resulting from the debt crisis in Greece.
> DOW JONES REBOUNDS AFTER PLUNGE
The Dow Jones plunges almost 1,000 points amid fears European
debt problems could stall the global recovery -- but regains
some ground later in the session.
