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Bank of England Governor Mervyn King said the coordinated effort by central banks last week to ease a credit squeeze was aimed at persuading financial institutions they would do whatever is necessary to protect the world economy. The actions 'demonstrate that central banks are working together to try to forestall any prospective sharp tightening of credit conditions that might lead to a downturn in the world economy,' said King in testimony to lawmakers... Still, 'a painful adjustment faces the global banking sector over the next few months,' King said." December 19 - Financial Times (Ralph Atkins): "The massive amount of liquidity pumped into financial markets by the European Central Bank appeared yesterday finally to have exceeded demand - but Jean-Claude Trichet, its president, insisted that there had been 'no bail-outs'.
Roddick overpowers Stepanek to win in San Jose
I think maybe I got my foot in the door as far as that's concerned and now I need to build on that." Roddick had played only four competitive matches since winning the Davis Cup late last season, losing in the third round of the Australian Open and winning his only match in this month's Davis Cup tie against Austria. He was pushed to a third-set tiebreaker in the opening round here against lucky loser Chris Guccione before starting to find his groove. Roddick is stressing this stretch of the season and has accepted a wild-card entry to play in Memphis this upcoming week in order to get more work. "It was important for me to come here and play well because I didn't have a good result in Australia and I hadn't really played much tennis this year so far," Roddick said. "This year might have been more important than other years." The top-seeded Roddick never even faced a break point in the final as Stepanek had no answer for his booming serve.
Mailbag: Where was the Rocket's red glare?
Instead of flowers and chocolate for Valentine's Day, I got you the present you've always wanted: That's right, it's a 6,000-word mailbag. As always, these are actual e-mails from actual readers: Q: What ranks lower on the Vengeance Scale: O.J. tracking down the "real killers," or Rusty Hardin "uncovering" the vast conspiracy to defame the Rocket? I guess O.J. still "wins," but Clemens can't rate more than a 0.15.
-- Edwin K., Washington SG: Nah, I'd say Clem is rocking in at a solid 0.65 right now. At least he made a half-hearted attempt to defend himself by taping phone calls, manufacturing statistics, releasing one-sided reports, appearing before Congress and giving interviews to 89-year-old broadcasters to "fight" his case. O.J. vowed to find the real killers one time then spent the next 14 years playing golf.
Tendulkar ton saves India
Lee finished with 2-62, Mitchell Johnson 2-72, and Hogg 1-78. Johnson inflicted the early damage for Australia with two wickets before lunch, and then Lee removed opener Virender Sehwag, caught at slip by Matthew Hayden, for an entertaining 63. But Hayden also spilled a chance late in the day, dropping Dhoni on three when the score was 5-298. Despite India's recovery today, they will want more runs tomorrow - in the past four Tests here Australia (to India in 2003) and England (2006) both scored more than 550 in the first innings and lost. AAP .
SIDEBAR: The GameSpot News Blog
It's no secret that the oil industry has a less-than-sterling public image. BP Alternative Energy, a branch of UK-based oil titan BP, is hoping to help change that perception by collaborating with Electronic Arts on its virtual-world builder SimCity Societies, which will be released for PCs on November 15 in North America and Europe. The BP-EA collaboration will focus on the traditional crux of the SimCity franchise: money management. Players will be able to choose from a variety of energy sources while building their cities, but the cheaper resources will also produce the most carbon dioxide. City builders will have to keep an eye on the global-warming-inducing gas as their metropolises expand,because natural disasters will become more likely if the gas reaches a certain level.
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