Senate votes to restore trade promotion authority
The Senate, 64 to 34, approves fast track authority to negotiate trade deals with Congress allowed only to accept or reject. The bill, passed by the House 215 to 212, heads to President Bush for signature before the August recess. Bush calls it a historic moment and an engine for growth, while critics warn about job losses and environmental concerns.
MENTIONED IN THIS ARTICLE
Senate Finance Committee
Max Baucus
D-Mont
Senate
House
Bush
Baucus
Wee
Congress
United States
World Trade Organization
Donald Evans
Gerald Ford
Clinton
Mexico
Canada
Murcia
U.S
Lori Wallach
Public Citizen
Global Trade Watch
Florida
Economy Slows as Manufacturing Grows Tepidly
Reports show June lagging as manufacturing inches up slowly and construction spending falls to the lowest in almost two years. New unemployment claims rose to 387,000 for the week, signaling a rough patch in the recovery.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Fed
Dow Jones slides after weak earnings and economy worries
New York AP reports the Dow Jones Industrial Average fell sharply amid a string of bad news and disappointing Exxon Mobil earnings. The Dow dropped nearly 220 points and the Nasdaq and S&P also declined as construction spending, national business activity, and GDP concerns pressured investors. Exxon Mobil led losses with earnings missing expectations, while Royal Dutch slipped on weak profits as the SEC probes energy and telecom accounting practices.
MENTIONED IN THIS ARTICLE
New York
Exxon Mobil
Wall Street
Richard A. Dickson
Hilliard Lyons
Louisville
Dow
Standard & Poor
America
Securities and Exchange Commission
Royal Dutch
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