SANTIAGO (AP) ― An erupting Chilean volcano sent a towering plume of ash across South America on Monday, forcing thousands from their homes, grounding airline flights in southern Argentina and coating ski resorts with a gritty layer of dust instead of snow.Booming explosions echoed across the Andes as toxic gases belched up from a 5 kilometer long fissure in the Puyehue-Cordon Caulle volcanic comp

World News June 7, 2011

White House touts value of emergency loans to GM and ChryslerWASHINGTON (AP) ― Taxpayers will lose about $14 billion in the government’s $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated.Seizing on the figures, the Obama administration took credit for the resurgence of the U.S. auto

World Business June 2, 2011

NEW YORK (AP) ― Sarah Palin and Donald Trump exchanged words of admiration Tuesday after a brief meeting at the real estate magnate’s penthouse in a Manhattan skyscraper bearing his name.Palin, the former Republican vice presidential nominee, said she and Trump shared similar ideas for improving the U.S. economy, while Trump called Palin a “terrific woman and a terrific friend” whom he hoped would

World News June 1, 2011

OECD sees world growth of 4.2%, urges Fed to raise ratesPARIS (AFP) ― Crisis still stalks the global economy with stagflation lurking and Japan set for recession this year despite moderate overall recovery, the OECD said on Wednesday, warning against complacency.The Organization for Economic Cooperation and Development held its 2011 global growth forecast steady at 4.2 percent in its latest semi-a

World Business May 26, 2011

EU head calls for independent privatization body to tackle debtBERLIN (AP) ― Greece’s prime minister admitted for the first that his country might not be able to tap the markets for its borrowing needs next year as the head of the eurogroup urged the debt-ridden country to set up an independent privatization body overseen by the European Union to bring down its ballooning debt level.Tweet ShareThi

World Business May 23, 2011

CAMDEN, New Jersey (AP) ― The charter bus arrived on a warm day in May a year ago, and when the doors opened, close to 50 people climbed aboard. They brought with them hopes for a better future, in decent homes, free of drugs and crime and all the woes that come from living on the margins.For days, months or years, they had been living in a ragtag city of tents, tucked away in the woods near Camde

World News May 23, 2011

Fed minutes reveal debate in April how to tighten credit if inflation persistsWASHINGTON (AP) ― The Federal Reserve said last month that the economy is gradually improving and began discussing how it would reverse policies adopted during the recession that pumped billions of dollars into the economy.Some members said the Fed might need to start boosting interest rates this year to guard against in

World Business May 19, 2011

JERUSALEM (AP) ― Israeli Prime Minister Benjamin Netanyahu on Monday took a tough line toward an emerging Palestinian government ahead of a high-profile trip to Washington, saying “those that want to destroy us are not partners in peace.”Netanyahu reiterated a willingness to agree to a Palestinian state under certain conditions but made clear he did not believe it was possible if the Islamic milit

World News May 17, 2011

Both men have legitimate chances; upcoming public appearances suggest the race is getting seriousWASHINGTON (AP) ― A health care speech by Mitt Romney and a formal announcement that Newt Gingrich is running mark a turn toward the substantive in the Republican presidential race.The change cannot happen too soon for the party after a series of events that did little to suggest it is ready to take on

World News May 12, 2011

DETROIT (AP) ― Toyota should have owned the road this summer. When gas prices go up, American drivers go for smaller, fuel-efficient cars. The last time prices at the pump spiked in 2008, Toyota captured the title of world’s No. 1 automaker ― and has held it ever since.Now gas costs almost $4 a gallon again, but Toyota is struggling. It’s been hammered by supply disruptions from the Japan earthqua

World Business May 12, 2011