U.S. House Approves Pelosi's $16 Billion Plan to Boost Renewable Energy

(Bloomberg) -- The U.S. House approved a $16 billion
tax plan and a renewable electricity mandate in broad energy
legislation that shifts the government's focus to wind, solar and
biomass production at the expense of traditional energy sources.

Passage of the so-called energy independence legislation is
a big victory for Speaker Nancy Pelosi, as Congress departs
Washington for a monthlong break. It sets up a meeting with
Senate lawmakers as soon as next month to craft a bill to send to
President George W. Bush.


Read more at Bloomberg Energy News

Bush tours site of wrecked Minnesota bridge

(Reuters) - Bush got a bird's eye view of the ruined bridge in a
10-minute helicopter tour, then donned an orange hard hat and
wind-breaker to walk a section of the 40-year-old bridge on
foot as rain fell.




Local officials have confirmed five deaths and seven people
missing after the Wednesday evening bridge collapse, but
searches were ongoing.


Read more at Reuters.com Bonds News

U.S. Stocks Tumble a Third Week on Lending Crisis; Bear Stearns Declines

(Bloomberg) -- U.S. stocks fell, pushing the Standard
& Poor's 500 Index to its steepest three-week skid since 2003, on
deepening concern that mortgage losses will hurt bank earnings
and reduce the pace of takeovers.

Bear Stearns Cos., the manager of two hedge funds that
collapsed last month because of rising defaults in home loans,
tumbled the most since September 2001. Shares of the largest U.S.
mortgage lender, Countrywide Financial Corp., had the biggest
loss in almost three years.


Read more at Bloomberg Stocks News

Nickel hits 10-mth low on weak demand, lead strong

(Reuters) - Nickel fell to a 10-month low on Friday as weak demand from the stainless steel sector prompted investors to cut their positions, while lead gained more than 3 percent after a strike in Namibia prompted speculative buying.

Base metals came under pressure in afternoon trade as stock markets slipped after U.S. data reignited worries about the health of the world's biggest economy.


Read more at Reuters Africa