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Barack Obama to open new US era

Published 20 January 9 11:6 AM | charlotte

Millions of people are gathering in the US capital to see Barack Obama sworn in as America's 44th president - and its first African-American leader. Huge crowds are expected to pack Washington's National Mall as Mr Obama takes the oath of office at exactly 1200 (1700 GMT). Unprecedented security is in place, with 40,000 security personnel either on duty or stand-by in the city. Across the US, there is a sense of history being made, correspondents say. The roar of approval that will greet...

Filed under: history, us, barack obama, america, capital, 44th president, national mall, huge crowds, washington, african american leader, oath of office

Bank of England Shock Rate Cuts

Published 6 November 8 6:6 PM | charlotte

In a shock move today, the Bank of England have cut the interest rate to 3%. A 1.5 percentage point cut means it is the biggest cut to rates since 1981. Most analysts had only predicted a 0.5 rate cut; with some suggestions it could be 1 percent. Advisors are now suggesting that more rate cuts will be needed to avoid a long and deep recession. Suggesting the rate could go as low as 1 percent, following the pattern in America. The circumstances are extraordinary, given the credit crunch resulting...

Filed under: america, advisors, racete cut, recession, bank of england, global financial crisis, credit crunch, interest rates, analysts