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World News
From The Financial Times
- Blow to Clinton as Edwards backs Obama
- John Edwards, former candidate for the Democratic presidential nomination and champion of organised labour, sought to rally his party and bring the primary race to a close by providing Barack Obama with his highest-profile endorsement in months
- Republicans fear election juggernaut
- Polls suggest the Democrats could increase their Senate lead from a 51-49 split to a safer 55-45 majority and add to their majority in the House of Representatives by 10 to 15 seats in the elections in November
- US consumer prices show modest gain
- Consumer prices remained in check in April, in spite of surging food costs, which could give the Federal Reserve more room for manoeuvre as it seeks to steer the US economy out of its current malaise
- Seoul delays softer rules on US beef imports
- South Korea's President Lee Myung-bak is facing his biggest test since taking office after the government postponed the deal due to public outcry over mad cow disease
- New technology to help US investors
- About 500 of the biggest US companies would be required to file their financial statements using a new interactive technology starting next year under proposed plans by US regulators to deliver information to investors faster
- Act now to avoid inflation, warns Volcker
- The Federal Reserve should forcefully tackle the risk of inflation and the weakness of the dollar now to avoid the stagflation experienced in the late 1970s, according to Paul Volcker, the former chairman of the US central bank
- US consumers hunt for discounts
- With petrol prices running at about $3.60 a gallon in New Jersey – more than 50 cents above their levels last year – Americans are changing their shopping habits. That is even more the case in rural areas, where going to the local shop means a round trip of five miles or more
- Keep hold of the basic rules of finance
- History tells us that leverage in the system acts like a rubber band – the further you stretch it, the harder it snaps back, writes Roger Altman
- Clinton wins West Virginia primary
- Hillary Clinton vowed to fight on with her presidential bid after a landslide victory in the West Virginia primary but promised to "work my heart out" to ensure a Democratic victory in November whoever wins the nomination
- Obama focuses on battle with McCain
- Hillary Clinton wins a landslide victory in West Virginia in Tuesday's Democratic primary. But Barack Obama is already behaving as though he were in a general election battle with John McCain
- Fed looks at ways to fight asset bubbles
- The US Federal Reserve is reconsidering the way it deals with asset price bubbles in the wake of the housing and credit bust, in a move that could see the central bank using regulation – or even interest rates – to fight unjustified increases
- Contenders tread carefully through coal dispute
- Local communities are bitterly divided between supporters of mountaintop mining, who view it as a crucial economic lifeline for a struggling region, and opponents who say the practice wrecks lives by polluting water and causing floods
- US retail data show signs of resilience
- Fewer car purchases put a dent in US retail sales last month, which fell 0.2 per cent, but excluding autos total sales increased, indicating signs of resilience in consumer spending
- US to send food to N Korea under new deal
- The US has agreed to give North Korea 500,000 tonnes of food aid under a new deal that would allow monitors unprecedented access to oversee distribution in the Stalinist state
- Schwarzenegger relies on lottery to bail out state
- Arnold Schwarzenegger is looking to California's lottery to solve the state's budget crisis and wants to raise billions of dollars by selling bonds backed by future...
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