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U.S. markets recover from steep losses
LONDON, Oct. 22 (UPI) -- Bank of England Gov. Mervyn King said the British economy was headed toward a recession, prompting a quick fall of the pound against the U.S. dollar.
King said, "It now seems likely that the economy is entering a recession," The Times of London reported. The pound slid to $1.6331 against the dollar, a five-year low, The Times said.
The euro also fell, dropping to $1.2743 against the dollar, which has gained strength on the U.S. government's consideration of an economic stimulus package.
U.S. Federal Reserve Chairman Ben Bernanke has endorsed the concept of a new spending package to pump capital into the economy. On Tuesday, the Fed opened a new facility to provide $540 billion in liquidity for money market mutual funds.
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WASHINGTON, May 24 (UPI) --
Louisiana legislators were praised by a consortium of environmental groups for outlining a 50-year plan to protect the coastal ecosystem.
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WASHINGTON, May 24 (UPI) --
Australia is seeking to upgrade its F/A-18F fighter aircraft to the "G" configuration, the U.S. Defense Security Cooperation Agency said.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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