 The White House and Ben Bernanke, head of America's central bank, launched a concerted attempt tonight to calm fears of a full-blown stock market crash after a second day of turbulent trading around the globe. With London posting its second 3-figure fall in a row and Wall Street struggling to recoup the losses from its biggest sell-off since 9/11, the White House dismissed the plunge in world markets as an anomaly. Edward Lazear, chairman of the White House Council of Economic Advisers, told a House of Representatives hearing that senior US government officials had looked at different factors but found no conclusive reason for the sharp decline. "It looks like whatever happened yesterday was anomalous," Mr Lazear said."We don't think of it reflecting any of the fundamentals in the economy, which I think are quite strong." The comments came as the latest data for the US economy showed a marked downward revision to growth in fourth quarter of last year from an annualised 3.5% to 2.2%...
http://business.guardian.co.uk
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Editor - 11:17:00 02-28-07
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 Army Sets Second Court-Martial in July for Lieutenant Who Refused to Deploy to Iraq |
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Editor - 10:50:00 02-28-07
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| Gates scales back Guantanamo court complex Defense secretary called Pentagon’s initial $100 million proposal ‘ridiculous’ |
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Editor - 10:45:00 02-28-07
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| Chad says will not accept U.N. troops in east |
| Chad will not accept an international military presence on its eastern border with Sudan's Darfur region but wants a civil protection force of police and gendarmes, the government said on Wednesday. U.N. Secret.. full News |
Editor - 10:38:00 02-28-07
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| 96-year-old mobster pleads guilty to racketeering conspiracy, witness tampering. |
| A 96-year-old mobster accused of overseeing robberies, money laundering and bank fraud for the Genovese crime family pleaded guilty to racketeering conspiracy Wednesday, but because of his age, he was likely to.. full News |
Editor - 10:36:00 02-28-07
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| Report: Britain to pull all troops from Bosnia Announcement set for Thursday in the House of Commons, UK official says |
| Britain is to withdraw all its troops from Bosnia, Sky News reported Wednesday. A Defense Ministry spokeswoman would not confirm the report but said an announcement regarding British forces in the region is pla.. full News |
Editor - 10:34:00 02-28-07
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| post The Good, The Bad and The Ugly |
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