GLOBAL MARKET HIGHLIGHTS
Globalizing corporate reform 09-26-03 (Yahoo) LONDON From the collapse of Enron two years ago to Richard Grasso's departure last week as head of the New York Stock Exchange, the stresses that personal greed imposes on American capitalism have seldom been laid so bare.
Housing Sector Shines Amid Otherwise Mixed Data 09-26-03 (Yahoo) WASHINGTON (Reuters) - A batch of U.S. economic reports on Thursday showed a sizzling housing sector and a hint of improvement in the jobs market, but a drop in demand for costly factory goods left a reminder the economy is not yet back to full health. 
Clark Lays Out Economic Plan For Presidency 09-26-03 (Washington Post) Retired Army Gen. Wesley K. Clark offered the first domestic plan of his young presidential campaign yesterday, calling for a reduction of the Bush tax cuts for households earning more than $200,000 to pay for new spending on homeland security, state governments and job-creation programs. 
U.S. Income Gap Widening, Study Says 09-26-03 (NY Times) he gap between rich and poor more than doubled from 1979 to 2000, an analysis of government data shows.
Credit Card Delinquencies Down a Bit 09-26-03 (Yahoo) WASHINGTON (Reuters) - U.S. credit card delinquencies slipped in the second quarter from a record high as mortgage refinancing gave consumers extra cash to pay bills, a bank group said on Wednesday. 
IMF Board OKs Argentina Deal 09-25-03 (Yahoo) DUBAI (Reuters) - The IMF (news - web sites) approved an economic plan for Argentina on Saturday aimed at bolstering investor confidence and growth in a country deeply scarred by a botched peso devaluation and a record sovereign debt default last year.
Strong Dollar, Weak Dollar: Anyone Have a Scorecard? 09-25-03 (NY Times) ASHINGTON, Sept. 23 — Rarely have so many people in so many countries been pushing for the dollar to get weaker rather than stronger.

 LATIN AMERICA
Provincial poll puts the heat on Argentine president 09-26-03 (Financial Times) Spring has only just come to Posadas but the heat is already beginning to tell. Listless construction workers sip iced herbal tea from hollowed-out gourds,
Brazil to Lift Ban on Crops With Genetic Modification 09-26-03 (NY Times) ORTO ALEGRE, Brazil, Sept. 24 - Brazilian farmers, the world's No. 2 producers of soybeans, got the go-ahead today to plant genetically modified seeds this season after the country's vice president said he would lift a ban on transgenic crops.
Brazil seeks to unite developing countries in anti-subsidy fight at WTO 09-26-03 (Yahoo) BRASILIA (AFP) - The government of Brazilian (news - web sites) President Luiz Ignacio Lula da Silva is appealing for greater solidarity among developing countries attending a WTO conference next week in their fight to tear down trade barriers in the developed world.
Holders of Argentine Bonds Reject 25% Redemption Offer 09-25-03 (NY Times) rgentina's gambit of offering to pay back a quarter of the $94 billion it owes private bondholders worldwide provoked a predictably angry rejection from investors yesterday, and analysts predicted long and painful negotiations.

Chilean president pay tribute to poet Pablo Neruda 09-25-03 (Yahoo) ISLA NEGRA, Chile (AFP) - Chilean President Ricardo Lagos and hundreds of others paid tribute at the grave of poet Pablo Neruda on the 30th anniversary of his death.

 RUSSIA
Russian position gains as US hunts for oil 09-25-03 (Yahoo) Nearly every international oil company has a horror story about losing money in Russia in the 1990s, but Moscow is again teaming with foreign oil executives and in Houston, Russia has lost its reputation as a dirty word. 

 ASIA
Support for Philippine president at a new low 09-26-03 (Financial Times) The approval rating of Gloria Macapagal-Arroyo, the Philippine president, fell to a record low this month, apparently hurt by accusations of corruption against her husband and associates. 
Doubts Expressed as Bush Presses Asia on Currency 09-26-03 (NY Times) ASHINGTON, Sept. 24 — Publicly berating China and Japan over their exchange rates is winning the Bush administration praise from American manufacturers, but is not playing so well among economists.
Asian currencies to see biggest impact from dollar shift: analysts 09-25-03 (Yahoo) WASHINGTON (AFP) - Stronger Asian currencies and a weaker dollar are the likely result of an effort by the Group of Seven industrialized nations to deal with economic imbalances, analysts said.

 AFRICA
UN Seeks Vaccine Cash for Africa Meningitis Belt 09-26-03 (Yahoo) GENEVA (Reuters) - The World Health Organization (news - web sites) said Thursday it was running out of time to raise money for a vaccine that protects people in Africa's "meningitis belt" from a vicious new form of the killer disease. 
One gun for every 20 Africans 09-25-03 (BBC) There is one weapon in circulation for every 20 people in Africa, according to a report released on Tuesday. 

 OIL PRICES
OPEC cuts oil targets 3.5% in surprise move 09-26-03 (Yahoo) Prices for home heating oil and gasoline jumped sharply yesterday on the New York futures markets and the stock market suffered its largest one-day percentage drop since May after the Organization of Petroleum Exporting Countries, in a surprise move, cut oil production targets 3.5 percent yesterday in an effort to bolster profits.
Price of Oil Climbs as OPEC Plans to Cut Output 09-26-03 (NY Times) IENNA, Sept. 24 — OPEC unexpectedly agreed today to cut oil production on Nov. 1, just as most of the developed world will be heading toward winter and demand for heating oil is likely to be rising.

OPECs Surprise Production Cut Sends Market Into Nosedive 09-25-03 (Washington Post) The stock market went into another steep slide today after the Organization of Petroleum Exporting Countries unexpectedly agreed to cut crude oil production by 3.5 percent. 
Energy Futures Soar as OPEC Agrees to Trim Output 09-25-03 (Yahoo) NEW YORK -- Crude-oil and petroleum-products futures jumped Wednesday after the Organization of Petroleum Exporting Countries unexpectedly agreed to reduce the group's oil-production target by 3.5%.