EU to introduce 'virtual strip searches' at airports by 2010: Digital body scanners which leave little to the imagination will be used by airport security on passengers travelling across the European Union within two years
In case you missed it: McCain Rejects Broad U.S. Aid on Mortgages: Drawing a sharp distinction between himself and the two Democratic presidential candidates, Senator John McCain of Arizona warned Tuesday against vigorous government action to solve the deepening mortgage crisis and the market turmoil it has caused, saying that “it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.”
President Bush signs historic $700 billion plan aimed at stemming credit crisis.: After two weeks of contentious and often emotional debate, the federal government's far-reaching and historic plan to bail out the nation's financial system was signed into law by President Bush on Friday afternoon.
U.S. Stocks Drop as Recession Concern Outweighs Bailout Passage: - U.S. stocks slid, capping the worst week for the Standard & Poor's 500 Index since the 2001 terrorist attacks, on concern the $700 billion bank bailout isn't enough to unlock credit markets and prevent a recession.
Hidden unemployment rises to 11%, highest in 14 years: Payrolls sink 159,000, worst job loss in 5 years
Report blames U.S. trade gap for 5.6 million lost jobs: The U.S. trade deficit in goods other than oil cost American workers 5.6 million jobs last year, with Michigan and South Carolina leading the list of hardest-hit states, a report issued on Thursday said.
U.S. factory orders drop by biggest amount in nearly two years: New orders for manufactured goods to America's factories plunged by 4 percent in August, the biggest amount since October 2006, the Commerce Department reported Thursday.
California gov says may seek US Treasury financing: California Gov. Arnold Schwarzenegger has informed U.S. Treasury Secretary Henry Paulson that the most populous U.S. state may need to turn to the federal government for short-term financing because of a lack of liquidity in credit markets.
Financial companies borrow record amount from Fed: The Fed's report released Thursday said commercial banks averaged a record $44.5 billion in daily borrowing over the past week. That compared with a daily average of $39.36 billion in the previous week. On Wednesday alone, banks borrowed a record $49.5 billion, surpassing the previous high that came one day after the Sept. 11, 2001, terror attacks.
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