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Friday, October 03, 2008

 

US Senate passes bailout

Sweetened deal gives Treasury power to buy up mortgage debt


WASHINGTON, D.C.: The US Senate has resoundingly passed a sweetened $700-billion Wall Street bailout, spurring hopes the House of Representatives would follow suit after killing an earlier bid to avert a world financial meltdown.

The Senate voted 74-25 late Wednesday (Thursday in Manila) to back the amended Bush administration bailout plan, designed to ease a deepening credit freeze and volatility on global stock markets spawned by the crisis on Wall Street.

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O T H E R   R E P O R T S

 

NEW YORK CITY: Boxing superstars Manny “PacMan” Pacquiao and Oscar de la Hoya showed tremendous respect for each other on Wednesday at the Statue of Liberty here during the formal launch of their December 6 big fight in Las Vegas.

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The government believes the Filipino spirit will prevail this Christmas—even as the world grapples with record-high inflation, a tainted-milk scare and the US financial crisis.

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WASHINGTON, D.C.: Republican vice presidential nominee Sarah Palin underlined her opposition to abortion in a televised interview on Wednesday but stumbled on questions about the US Supreme Court.

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BEIJING: China has vowed to halt its dairy exports until it can eliminate the threat from contaminated milk that has sickened thousands in the country and led to product recalls worldwide, a Japanese official said Thursday.

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ALEOSAN, North Cotabato: Felimon Cayang said he is ready to die to save his native southern Philippine island from Muslim separatist rebels spreading terror through its Christian communities.

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EXCLUSIVE

Saying elections in this country are usually decided by the poor and the youth, Governor Grace Padaca of Isabela said it is now imperative to inform young people of their responsibility to elect better people to government.

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For a few pesos more, scavengers are risking serious harm in helping themselves with metal scraps from a sunken ship.

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Severino O. Frayna Jr., Benjie Dela Rosa
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