BC-APFN-Business News Digest
With AP Photos.
AMSTERDAM â¿¿ World stocks shrugged off worries over political turmoil in Egypt and rallied strongly on optimism that easy monetary policy from central banks in Europe is set to continue for some time to come. U.S. markets were closed for Independence Day. By Toby Sterling.
ECONOMY:PORTUGAL-FINANCIAL-CRISIS LISBON, Portugal â¿¿ The leaders of Portugal's governing coalition parties remained locked in negotiations Thursday as they attempted to repair differences that threatened to pitch the bailed-out country into turmoil and reignite concerns over Europe's debt crisis. By Barry Hatton PAKISTAN-IMF ISLAMABAD â¿¿ Pakistan takes a major step toward averting an economic crisis, reaching an initial deal with the International Monetary Fund on a bailout of at least $5.3 billion to help shore up the country's rapidly diminishing foreign reserves. The announcement is expected to help calm fears of financial instability in Pakistan, a nuclear-armed nation of 180 million people that is also grappling with rampant violence by Islamic militants. By Sebastian Abbot. BRITAIN-ECONOMY LONDON â¿¿ The Bank of England has opted to refrain from pumping more money into the U.K. economy in its first meeting since new Governor Mark Carney's arrival. The Monetary Policy Committee kept interest rates at 0.5 percent Thursday and decided against expanding its stimulus program. AP Photos INDUSTRY: SOLAR PLANE WASHINGTON â¿¿ In noisy, energetic New York City, the pilots of a spindly plane that looks more toy than jet hope to grab attention in a surprising way: By being silent and consuming little energy. This revolutionary solar-powered plane is about to end a slow and symbolic journey across America by quietly buzzing the Statue of Liberty and landing in a city whose buildings often obscure the power-giving sun. Science Writer Seth Borenstein. CLIMATE CHANGE BOW, N.H. â¿¿ President Barack Obama's push to fight global warming has triggered condemnation from the coal industry across the industrial Midwest, where state and local economies depend on the health of an energy sector facing strict new pollution limits. By Steve Peoples.
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