South Korea says U.S. wants revisions to FTA pact

(Reuters) - Many U.S. lawmakers from auto producing states charged the agreement would give South Korea a one-sided advantage to export more cars to the United States.




Seoul's foreign ministry said in a statement released late on Saturday that the U.S. Trade Representative's office hoped to have additional discussion next week over the proposals.


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Bush blasts Democrats over budget spending

(Reuters) - Democrats who now control the Senate and the House of Representatives are crafting a dozen bills for more than $900 billion in government spending to fund items ranging from the space program and education to foreign aid and defense.




"I will use my veto to stop tax increases and runaway spending that threaten the strength of our economy and the prosperity of our people," Bush said in his weekly radio address. He was spending the weekend at his Texas ranch.


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Pound Gains for First Week in Three Amid Speculation U.K. Rates Will Climb

(Bloomberg) -- The pound gained for the first week
in three on speculation the Bank of England will need to keep
raising interest rates to slow the economy.

BOE Governor Mervyn King this week said the bank ``may need
to take further action'' to contain inflation, a week after it
boosted the main lending rate to a six-year high. Monetary Policy
Committee member Paul Tucker said in a speech yesterday a pickup
in money growth is an ``amber light'' for future inflation.


Read more at Bloomberg Currencies News