NPR 2008-03-20

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 From NPR News in Washington, I'm Carl Kasell.

 On the Asian and European stock markets today, there has been something of a mixed reaction to the cut in US interest rates and the resulting rebound 3 of Wall Street. Larry Miller 4 reports from London.

 The Asian markets picked up where Wall Street left off. Japan's Nikkei gained 2.5%. India and South Korea were also higher. Shares in Australia rose 4%. However, the European markets saw things differently. In morning trading, London, Paris and Frankfurt are lower. In Europe, bank shares started well, then turned sharply as concern returned over liquidity 5 issues, especially among British banks. Mortgage lender HBOS fell 17%. The Bank of England met this morning, but refused to follow the lead set by the Federal Reserve and kept the British interest rate unchanged. The dollar is down against the euro, the Swiss franc and the Japanese yen 6 after the Bank of America predicted another big US interest rate cut. For NPR News, I'm Larry Miller in London.

 The sound of anti-war protestors chanting "end the war" at Washington's Union Station last night. Today marks the fifth anniversary of the US-led invasion of Iraq. Protests are being held in the nation's capital. President Bush goes to the Pentagon this morning where he will speak about the war and terrorism.

 Japanese stock prices closed higher today. The Nikkei rose by 2.5% or 296 points. Japanese financial markets will be closed tomorrow because of a national holiday. Oil prices are down in Asian trading after jumping higher in yesterday's session on the expectation that another cut in the Fed's interest rate would further weaken a battered 7 US dollar. US light crude for April delivery dropped 78 cents to $108.64 a barrel. 

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 The New York Yankees played an exhibition game against the Virginia Tech baseball team yesterday. The match-up fulfills 8 a promise made last year after the shooting deaths of more than 30 people on the Blacksburg campus. From member station WVTF in Roanoke, Gene 9 Marrano reports.

 Last May, the New York Yankees donated a million dollars to the Hokie Spirit Memorial Fund, which was set up to assist the victims of the April 16th shootings and their families. The Yankees also vowed 10 then to return this year for an exhibition game. They made good on that promise Tuesday. The Bronx Bombers 11 signed autographs during batting practice, then they went out and beat Virginia Tech 11 to nothing in a game that was almost an afterthought. Star shortstop Derek Jeter said it had been a rewarding experience.  'We're glad we had the opportunity to come, you know. This is for a, you know, great thing. You know, we found out we're first gonna come here last year. You know, we had the ceremony at Yankee Stadium, and all the players have been looking forward to it." The day began with a visit to the on-campus memorial set up to honor the 32 victims of a student gunman. For NPR News, I'm Gene Marrano in Roanoke, Virginia.

 The attorney general of Arkansas says he wants to put payday lenders out of business in his state. In the letter mailed out this week, Attorney General Dustin McDaniel told the 60 or so companies to "cease and desist your lending practices". The letter also warned the companies to void customers' debt or face legal action. McDaniel took the action after the recent state's Supreme 12 Court ruling made it clear to him that the charges imposed by the payday lenders violate the state's constitutional ban on interest rates higher than 17%.  He calls rates ranging from 300 to 500 percent unlawful.

 I'm Carl Kasell, NPR News in Washington.