March 14, 2009 Saturday
Updated

WASHINGTON - THE White House says there is no safer investment in the world than in the United States.

Press secretary Robert Gibbs was responding to Chinese Premier Wen Jiabao's comments Friday that he is concerned about the safety of his country's investments in the US.

 
Dow's best week this year

NEW YORK - A STUNNING about-face in bank shares handed the stock market its best week since November.

Fears have eased that the nation's major financial institutions would collapse or at least require additional government lifelines in order to stay alive.

US$ down on China warning

NEW YORK - The dollar was slightly lower against the euro and the pound Friday as China's premier warned the US not to let the dollar get too weak through massive deficit spending.

Chinese Premier Wen Jiabao warned the US that it needs to recognize the value of a strong dollar to help underwrite the value of the bonds it is selling to finance huge increases in government spending, such as the $787 billion stimulus, UBS AG analyst Brian Kim said.

G20 urged to fix banks first

HORSHAM (England) - MORE spending will give only a brief 'sugar high' if G20 nations fail to clean up their banks, the World Bank said on Friday as economic powers struggled to agree a response to the worst downturn in decades.

The comments went to the heart of a rift between Washington, which is pushing for governments to spend more, and European capitals, which want rapid moves to tougher market regulation in addition to massive public expenditure.

   
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