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...cash, U.S. financial institutions have been liquidating foreign assets and repatriating the funds, pushing up the value of the dollar. As that process plays out, a key support of the dollar's value could be removed. Currency markets are clearly jittery. In late March, U.S. Treasury Secretary Timothy Geithner sent the dollar tumbling when he said he was "actually quite open" to China's proposal for a greater role for SDRs. The dollar lost 1.3% against the euro within 10 minutes of Geithner's unexpected comment. (The greenback recovered a short time later, after Geithner said he expected the dollar...
...eventual 13-12 victory. “We put forth a pretty good effort, but we made too many errors—sloppy errors,” co-captain Nick Smith said. The pivotal stretch began with 6:12 left in the third period after senior defenseman Max Motschwiller sent a pass to teammate Jason Duboe on the right wing, where the junior midfielder was able to give Harvard an 11-9 lead. Cornell responded in a little over a minute when Rocco Romero slipped a shot past Crimson goaltender Joe Pike. The Big Red knotted the score with just...
...early March, 38 members of the U.S. Congress sent a joint letter to Secretary of State Hillary Clinton highlighting the fact that Sri Lanka is one of eight “Red Alert” countries experiencing ongoing or imminent genocide, referencing a ranking produced by the New York-based Genocide Prevention Project. Human Rights Watch had reported that, from early January to the end of February alone, over 2,000 Tamil civilians had been killed and over 7,000 injured. More recently, government forces continue to kill or maim an average of 100 civilians...
...anyway - as it pledged to - saying the rocket bore nothing more than a communications satellite. With six U.S. cruisers equipped with Aegis anti-missile systems deployed in the region - to watch and gather intelligence, not fire on the rocket, Pentagon officials had said late last week - North Korea sent the Taepodong II rocket over Japan and into the Pacific Ocean. That, by itself, meant the launch for Pyongyang was a success: two years ago, an earlier version of the same long-range rocket broke up shortly after the launch. "It means they have a long-range rocket that works," says...
...managed to avoid missteps during the highly public summit. He said that the G-20 sent "a robust message" by addressing issues such as the importance of fiscal policy and increased regulation of the markets - arguments he was making prior to the London conference. Japan also took the lead in an international effort to shore up the International Monetary Fund with an earlier pledge to provide the organization with up to $100 billion. The G-20 upped the contribution to $500 billion to help emerging countries that are in dire economic straits. "The IMF's fiscal foundation has been strengthened...