The US Senate passed a modified version of a $700 billion economic rescue plan by a vote of 74-25 days after the original bill was rejected by the House of Representatives, sending shock waves through global markets.
A revamped version of Washington's $700 billion bailout package is heading for a vote in the US Senate Wednesday evening, causing European stocks to rise mid-day. The US House of Representatives thwarted the first plan in a surprising move on Monday.
Senate Majority Leader Harry Reid received unanimous consent from the Senate to schedule the vote on a revised version of the $700 billion financial bailout package as early as Wednesday evening, after the Jewish holiday of Rosh Hashanah.
US President George Bush said the rejection of a $700 billion bailout bill by the House of Representatives was "not the end of the legislative process". Moments later, US stocks rebounded following Monday’s record plunge.
Shares in European stock markets have fluctuated wildly in mid-morning trade as investors hope that US lawmakers would eventually agree on a billion-dollar rescue package to shore up financial markets.
Yet again, World Trade talks have collapsed. After 7 years of efforts, negotiations did not reach a consensus and the US and India remain strongly opposed on import protection policy. What options are left?
Yet again, World Trade talks have collapsed. After 7 years of efforts, negotiations did not reach a consensus and the US and India remain strongly opposed on import protection policy. What options are left? (part 2)
South Korea's cabinet offered to quit Tuesday following weeks of mass protests over the government's unpopular plans to resume US beef imports. The US considers the upheaval an "internal matter" and still hopes for a deal.