The latest news on the Global Economy, Global Poverty, U.S. Economy, U.S. Foreign Policy, Obama Campaign, John Edwards, Catholics, El Salvador, Darfur, Russia, Israel-Palestine, Iraq, Iran, Afghanistan, and Pakistan.

Sign up to receive our daily news summary via e-mail »

Global economy. Global Deals in Works On Eve of G-20 Summit "Nations are close to adopting a series of measures aimed at combating a global recession and laying the groundwork for a broad reconstruction of the international financial system, as world leaders arrive in Washington for a major economic summit this weekend." Bush Warns of Aggressive Economic Regulation "After presiding over some of the most dramatic market interventions in U.S. history over the past two months, President Bush came to Wall Street to urge world leaders not to venture too far down a path of government interference in capitalist economies." President Bush: global crisis does not mean free market has failed "As he sought to deflect European calls for more regulation, President Bush told world leaders flying into Washington for an emergency meeting that the global financial crisis did not signal the failure of the free market."

Global poverty. For those making $2 a day, it might get worse "Life for the world's poorest is always a struggle, but a crushing combination of high food and fuel prices and growing worldwide recession threatens to push millions into hunger and desperation, just as the global financial crisis means likely cutbacks in foreign aid."

U.S. economy. Jobless claims hit 25-year high, imports plunge "The number of U.S. workers drawing jobless benefits hit a 25-year high this month and imports suffered a record fall in September, according to reports on Thursday that underscored a rapid drop-off in the U.S. economy." State and city budgets falling fast "The nation's economic downturn is now squeezing state and city budgets -- a financial turn of events that is forcing many mayors and governors to join the growing group of people on their knees asking Congress for help." Government begins budget year with record deficit of $237.2 billion, reflecting bailout "The federal government began the new budget year with a record deficit of $237.2 billion, reflecting the billions of dollars the government has started to pay out to rescue the financial system."

U.S. foreign policy. A World of Advice for Obama on Foreign Policy "There is a world of advice out there for President-elect Barack Obama. Within minutes of his election, the calls from foreign governments began, Obama aides said, and they have not stopped."

Obama campaign. Vast Obama network becomes a political football "