Bloomberg.com reports that “U.S. Treasury three-month bill rates dropped to the lowest since World War II as a loss of confidence in credit markets worldwide prompted investors to abandon higher-yielding assets for the safety of the shortest- term government securities.”
MarketWatch reports that “U.S. stock futures edged lower Wednesday after two wild sessions, with the threat of an American International Group bankruptcy averted as the U.S. government seized control.”
British bank Barclays has agreed to acquire business operations and real estate holdings from failed investment bank Lehman Brothers for about $1.75 billion, and will buy Lehman’s North American investment banking and capital markets operations for $250 million.
Investment bank Morgan Stanley is deciding whether it should merge with another bank, due to recent turbulence with the company’s share price, Reuters reports. Officials were not in merger talks as of Tuesday night, but have conceded that further upheaval could force them to turn to a merger option.
Polls suggest that members of Israel’s ruling Kadima party have elected Foreign Minister Tzipi Livni to be their new leader. Outgoing Prime Minister Ehud Olmert is resigning following corruption allegations.
Thailand’s new prime minister, Somchai Wongsawat, showed his determination to mend political rifts by shaking hands with the opposition leader Wednesday, but some antigovernment protestors continue to call the new leader unfit for government.
The tainted Chinese baby formula scandal has worsened, killing a third baby; 6,200 have now become sick. So far, about 20 percent of companies tested nationwide had sold products tainted with melanine, a banned chemical that makes watered-down milk appear higher in protein.
“Russia's Foreign Ministry issued an unusually harsh condemnation Wednesday of the NATO chief's visit to Georgia, saying it showed ‘Cold War reflexes’ and will further destabilize the region,” the Associated Press reports.
Thousands of insurance company adjusters and special catastrophe claims handlers have descended upon the hurricane-affected areas of Texas, but companies are urging customers to be patient, as it could be days before agents show up at their homes.
FBI Director Robert Mueller will appear before the House Judiciary Committee today to speak about the government’s evidence against Bruce E. Ivins, who was publicly labeled as the lone culprit in the 2001 anthrax-by-mail attacks before he died. A small but vocal group is still not convinced that the government has solved the case, The Washington Post reports.
A fatal crash between two trucks on I-95 in Brevard County, Fla., has spilled $182,000 in nickels across the road. One man died during the accident. The nickels were on their way from Miami to the mint in Philadelphia.
CBS says that anchor Katie Couric will conduct the second broadcast interview with Alaska Gov. Sarah Palin since Gov. Palin became the Republican candidate for vice president. Couric will spend two days on the road with Palin and her running mate, Ariz. Sen. John McCain. The interviews will be aired September 29 and 30 on the “CBS Evening News” and “The Early Show.”
Lynn Forester de Rothschild, a prominent Hillary Clinton supporter and member of the Democratic National Committee’s Platform Committee, plans to announce Wednesday that she will endorse John McCain for president, CNN reports.
The abortion issue is again dividing Catholic voters, “just as political partisans prepare an all-out battle for the votes of Mass-going Catholics in swing-state towns like Scranton,” The New York Times reports.
During a speech in Ohio Wednesday, Democratic vice-presidential candidate Joe Biden blasted John McCain for being against financial regulation in the past and now suddenly talking about the “greed of Wall Street.”
At a scientific hearing, the FDA once again defended its assessment that BPA, a chemical that is found in baby bottles and metal cans, is safe, even as the first major study of the chemical has linked it to risks of heart disease and diabetes.
Scientists are worried that boys born to fathers with very low sperm counts who used fertility treatments to conceive may have inherited their father’s same fertility problems, “an issue that many couples may not have considered in their quest to have children,” MSNBC reports.
Derek Jeter broke Lou Gehrig’s record for hits Yankee Stadium last night. The 85-year-old ballpark is scheduled to close on Sunday. Jeter’s two hits during a game against the Chicago White Sox brought his career total in the building to 1,270.
Comedy Central has announced that Stephen Colbert of “The Colbert Report” will host his own Christmas special this year. The musical special will feature artists John Legend, Elvis Costello, Toby Keith, Willie Nelson, Feist, as well as “The Daily Show” host Jon Stewart, who plans to sing a duet with Colbert of a song titled “Hanukkah.”