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Hello, I'm Naamua Delaney at the CNN Center in Atlanta, and here is a look at what's happening NOW IN THE NEWS.
Lawmakers say they're close to a deal on the 700-billion-dollar package to rescue the troubled financial system. A bipartisan group has been meeting today to hash out differences. Democratic Senator Chuck Schumer, chairman of the joint1 economic committee, says he hopes to reach a deal by this afternoon. Among the details being hammered out, how much the plan will cost? The most common amount being talked about is 700-billion dollars; another key point in the negotiations2 is whether the government will actually become a shareholder3 in troubled companies. One part of the plan that seems certain to become a law will be a provision to limit executive pay and bonuses at companies that sell assets to the Treasury4.
It's just a day away from the first high-stakes presidential debate. And it's not clear if both participants will be there. Republican Senator John McCain wants the Mississippi event postponed5 to deal with the American economy. He's asked Democratic Senator Barack Obama to agree to the delay. But Obama is rejecting that proposal. The commission for presidential debates and Mississippi Governor Haley Barbour says they're moving ahead as if there will be a debate.
The sale of new homes has hit a 17-year low. The Census6 Bureau reports that new home sales plunged7 more than 11 percent in August and prices posted their biggest drop on record. Prices for new homes on the market were at their lowest level since Sep. 2004. The report is just the latest sign of trouble in the overall housing market.
Coastal8 Virginia is right in the middle of the bad weather. A large storm's rain and high winds have caused flooding and power outages. About 6,000 homes and businesses from Norfolk to Virginia beach were without power this morning. And because of the gusty9 winds, restrictions10 are in place on the Chesapeake Bay Bridge and Tunnel.
It has been a wild gas chase for a lot of people in Atlanta. A pump without a plastic bag on the handle or a "No Gas" sign is hard to come by thanks to supply issues from Gulf11 Coast refineries12. Experts say consumer’s panicking and topping off their tanks is also to blame. Georgia's governor says gas should flow more freely. Now the EPA has eased up on some pollution restrictions for the short term. Any available gas equals happy and relieved buyers and sellers.
I got a hug from the attendant this morning, she came out and gave me a big hug. "Oh I feel happy to see you", that's the first in eight years. Experts say it could be a week or more before things get back to normal.
Well those are the headlines this hour, do stay with CNN for more on these stories and the other news of the day.
1 joint | |
adj.联合的,共同的;n.关节,接合处;v.连接,贴合 | |
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2 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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3 shareholder | |
n.股东,股票持有人 | |
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4 treasury | |
n.宝库;国库,金库;文库 | |
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5 postponed | |
vt.& vi.延期,缓办,(使)延迟vt.把…放在次要地位;[语]把…放在后面(或句尾)vi.(疟疾等)延缓发作(或复发) | |
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6 census | |
n.(官方的)人口调查,人口普查 | |
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7 plunged | |
v.颠簸( plunge的过去式和过去分词 );暴跌;骤降;突降 | |
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8 coastal | |
adj.海岸的,沿海的,沿岸的 | |
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9 gusty | |
adj.起大风的 | |
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10 restrictions | |
约束( restriction的名词复数 ); 管制; 制约因素; 带限制性的条件(或规则) | |
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11 gulf | |
n.海湾;深渊,鸿沟;分歧,隔阂 | |
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12 refineries | |
精炼厂( refinery的名词复数 ) | |
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