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From NPR News in Washington, I'm Craig Windham.
Stock futures in the US are moving higher this evening in events of the opening of Asian markets. Investors will be accessing the latest government moves to deal with the global financial crisis. At the summit in Paris today, leaders of the 15 nations that use the euro currency have agreed to guarantee loans between banks through next year, and to take ownership stakes in distressed banks. British Prime Minister Gordon Brown was invited to join the meeting although Britain does not use the Euro. He's expressed the confidence that the actions taken will help stabilize the markets and free up credit.
I think you'll see over the next few days and indeed over the next few weeks, the effect of the coordination that actually agreed. The most precious asset at all is confidence, and it's something that is being lost in recent weeks, and it's now, in my view, by the action taken the American government and now by European governments set together is something that we will restore as through coordinated into action.
And in Washington the World Bank's policy-setting committee pledged to protect poor nations and developing economies from being devastated by the financial crisis. Also today the Federal Reserve has approved Wells Fargo's 12 billion dollar acquisition of Wachovia corporation. Citigroup dropped its effort to acquire Wachovia's banking operations last week.
China's Communist Party has agreed on an important package over reforms which could reshape that country's economic structure. NPR's Louisa Lim reports from Shanghai.
The country's top leaders ended the four-day concave by agreeing it would push ahead with major rural reforms, they vowed to double the incomes of China's 700 millions farmers by 2020, who are less than a third as much as the city draws. No details have yet been given on how this would happen. Before the meeting, state media had said the committee would consider whether farmers should be given more power to transfer or lease their land. China's seeking to stimulate consumption domestically to cancel the globally economic slowdown, which is reducing international demand for Chinese products. A comment from XinHua News Agency said the global credit crisis might be a blessing in disguise for China as it aims to modify its economic structure. Louisa Lim, NPR News, Shanghai.
The presidential candidates are preparing for their final debate Wednesday night on Long Island , New York. So they left the campaigning today to their running mates. GOP vice presidential nominee Sarah Palin told supporters in Ohio that she knows voters there are angry. With serious reforms to change Washington, John McCain is gonna turn your angry into action. And Democratic nominee Joe Biden spoke to a boy stress rally in his childhood hometown of Scraton, Pennsylvania. In 23 days, nothing less than our prosperity and our security is on the ballot. Biden was joined at the rally by former president Bill Clinton and Senator Hillary Rodham Clinton, Senator Clinton also has room since granted.
This is NPR News from Washington.
The financial crisis has produced one benefit for consumers sharply lower gasoline prices. Gas prices have plummeted 35 cents a gallon over just the past 2 weeks, down to a national average of 3 dollars and 31 cents a gallon for regular. Industrial analyst Trobi Lambert. This is mostly much lower crude oil prices which have occured because the world demand that was punched by high price and also lower US gasoline demand. Lambert says she expects prices to stay at this level or fall even further in weeks ahead. The drop in prices at the pump was the largest two-week decline ever recorded in the 58-year history of the Lambert survey.
A formal speaker of Iran's parliament who is a leading reformist says he is running in the country's presidential election. He will challenge in combat Mahmoud Ahmadinejad who's widely expected to seek a second term. Roxana Saberi reports from Tehran.
Irani media ever reported that Mehdi Karroubi has decided to run after a lot of what he called negotiations and consultations. Karroubi is moderate cleric and former Parliamentary speaker. He came on the third place in Iran's last presidential election in 2005. Karroubi has criticized President Ahmadinejad for his handling of the economy and for needlessly antagonizing the West. But Ahmadinejad has often won the backing of Iran's highest authority supreme leader Ayatollah Ali Khamenei. The presidential election is set for June 12th, 2009. It is not yet clear the Iran previous former president Mohammad Khatami will run. From NPR News, I'm Roxana Saberi in Teheran.
The remnants of Hurricane Norbert has moved into US dumping moderate amounts of rain over waterlog, west Texas, so far though no major flooding is being reported. I am Craig Windham. NPR News in Washington.
