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News of the 08/17/2008

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Dollar rises vs Swiss franc in late trading
Analysis: Deficit spending is tough medicine
Hungary: Gunman kills school principal, teacher
    

Russian forces still entrenched in Georgia

  
Russian forces built ramparts around tanks and posted sentries on a hill in central Georgia on Saturday, digging in despite Western pressure for Moscow to withdraw its forces under a cease-fire deal signed by Russian President Dmitry Medvedev.
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2 bombs explode in Spanish resorts; no injuries

  
Two small bombs blamed on Basque separatist group ETA exploded at tourist resorts in southern Spain on Sunday, authorities said. No injuries were reported, but more than 10,000 people were evacuated from a harbor area.
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Morgan Stanley sees more finance crisis pain: paper

  
The financial crisis will probably not end until next year or even 2010, Germany's Handelsblatt newspaper quoted Morgan Stanley <MS.N> co-President Walid Chammah as saying in a preview of its Monday edition.
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British matador, 65, gets back in ring, kills bull

  
A 65-year-old retired bullfighter who had knee replacement and quadruple bypass surgery strutted back into the ring Sunday and won two trophies -- the ears of the beast he had just slain.
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News of the 08/16/2008
    

Tense Georgia awaits Russian truce signature

  
Russian soldiers dug foxholes 30 miles outside of Georgia's capital Saturday while Georgian police milled about, a quietly tense scene reflecting the uncertainty in the troubled region as both sides waited for Russia's president to sign a proposed truce.
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Russia 'will abide by ceasefire'

  
US officials say Russian Foreign Minister Sergei Lavrov has pledged Moscow will "faithfully" implement a truce with Georgia.
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UBS certain will be independent in 2 years: report

  
UBS AG's <UBSN.VX> chairman is sure the troubled Swiss bank will still be independent in two years' time, according to an interview published on Saturday.
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Heavy storms in Europe kill 6, injure scores

  
Heavy storms hit parts of Europe, killing at least six people, injuring scores and damaging houses, according to media reports Saturday.
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News of the 08/15/2008
    

Russia: US missiles in Poland won't go unpunished

  
A Russian general says a deal for the United States to put a missile defense battery in Poland "cannot go unpunished."
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Rice offering Georgia imperfect peace plan

  
Choosing expediency over principle, the United States and its allies are pushing Georgia's pro-Western government to accept major concessions in a cease-fire with Russia.
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US dollar, gold rise in European morning trading

  
The U.S. dollar was higher against other major currencies in European trading Friday morning. Gold rose.
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Cycling star LeMond, exclusive club settle lawsuit

  
Cycling star Greg LeMond has reached a $39.5 million settlement with the owners of the exclusive Yellowstone Club, as control over the mountain retreat for the ultra-rich shifts from founder Tim Blixseth to his estranged wife.
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Onslaught in Georgia leaves US rethinking ties to Russia

  
WASHINGTON - Russia's military offensive into Georgia has jolted the Bush administration's relationship with Moscow, senior officials said yesterday, forcing a wholesale reassessment of American dealings with Russia and jeopardizing talks on everything from halting Iran's nuclear ambitions to reducing strategic arsenals to cooperating on missile defenses.
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Rights group accuses Russia of using cluster bombs

  
An international rights group says it has evidence that Russian planes have dropped cluster bomb in civilian areas in Georgia.
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Electric bikes: A shopper's guide

  
Electric bikes range in price from a couple hundred dollars to several thousand. The types that are available vary depending on the country. Some models available in the U.S. and France:
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Europe's latest craze: electric bikes

  
My electric bike is no batmobile, but it makes me feel like a superhero. The motor is so quiet it's easy to forget it's there when I'm pedaling through the streets of Paris -- only I move much faster than a regular bike and I don't sweat. When I ride uphill, it feels like someone is giving me a push.
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GB team can't find insurer for Deng's contract

  
Luol Deng could be forced to miss Great Britain's qualifying campaign for the 2009 European Championship because the team can't find an insurer to cover the forward's lucrative new six-year contract with the Chicago Bulls.
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British matador coming out of retirement in Spain

  
At age 65, after enduring a knee replacement and quadruple bypass surgery, Spain's only British bullfighter is stepping out of retirement and back into the ring.
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Oil, grain prices spike Louisiana export values

  
Record prices for oil and grain pushed the value of Louisiana's worldwide exports to $22 billion over the first six months of 2008, according to a report by the World Trade Center of New Orleans.
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Wind turbine maker Vestas adding 1,350 Colo. jobs

  
Wind turbine manufacturer Vestas Wind Systems said Friday it will build two more plants in Colorado and bring a total of 1,350 more jobs to the state.
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UN panel has concerns on human rights in Britain

  
The U.N. Human Rights Committee is criticizing Britain over its tough counterterrorism laws, legislation that limits free speech and the use of an Indian Ocean territory to secretly move suspected terrorists without legal process.
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US demands Russian troop pull-out

  
The US says Russia must withdraw its troops from Georgia "at once", after Georgia's president signs a ceasefire deal.
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London's fabled Walthamstow greyhound track closes

  
The finish line is looming for the greyhounds of Walthamstow Stadium, a London landmark frequented by everyone from Winston Churchill to Brad Pitt and where David Beckham worked as a teenager.
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UK recruitment firm Michael Page ends Adecco talks

  
British recruitment company Michael Page International PLC said Friday it has ended discussions with takeover suitor Adecco SA , but the Swiss-based world no. 1 recruiting agency indicated it would continue its 1.3 billion pound ($2.4 billion) pursuit.
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Georgia crisis frays web linking Moscow and West

  
The struggle over a tiny, impoverished part of the Caucasus mountains has erupted into a widening confrontation between Russia and the West, the worst since the Soviet Union collapsed.
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Georgian president urges Russia to sign truce

  
Georgia's president says Russian troops have widened their "zone of occupation" of his country and has urged Russia's president to sign a cease-fire deal.
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