LANSING

Michigan Senate bans partial-birth abortion

On the anniversary of Roe v. Wade, the Michigan Senate has voted to ban a procedure opponents call partial-birth abortion.

The legislation mirrors a federal prohibition against the procedure that was upheld by the U.S. Supreme Court last year.

Abortion opponents say the measure is needed so state and local authorities can prosecute doctors who perform the procedure and send a message that Michigan opposes the method.

Abortion rights supporters say the legislation is a waste of time since the procedure already is outlawed by federal law.

Federal courts have struck down previous laws passed in Michigan to ban the procedure.

WASHINGTON

In emergency move, Feds slash key interest rate

The Federal Reserve unexpectedly slashed a key interest rate by a bold three-fourths of a percentage point on Tuesday, responding to a global plunge in stock markets that heightened concerns about a recession. The Fed signaled that further rate cuts were likely.

The reduction in the federal funds rate from 4.25 percent down to 3.5 percent marked the biggest reduction in this target rate for overnight loans on records going back to 1990. It marked the first time that the Fed has changed rates between meetings since 2001, when the central bank was battling the combined impacts of a recession and the terrorist attacks.

NEW YORK

Wall Street slowly climbs back after rate adjustment

Wall Street struggled to steady itself yesterday, climbing back from an early plunge after the Federal Reserve implemented an emergency interest rate cut in hopes of restoring stability to a faltering U.S. economy. The Dow Jones industrials, down 465 points at the start of the session, recovered to a loss of more than 180 points.

The U.S. markets joined a global selloff amid growing fears that a recession in the United States could send economies around the world into a downturn. Though stocks regained ground as investors digested the Fed’s move to cut its benchmark federal funds rate by 0.75 percentage point and as bargain-hunters entered the market, trading remained volatile and the major indexes fluctuated sharply, at times approaching the break-even point before heading down again.

BAGHDAD

Suicide bombing kills 18 during Iraqi funeral

A suicide bomber apparently targeting a senior security official blew himself up inside a funeral tent Monday, killing 18 people in the latest of a series of deadly attacks chipping away at the notion of a calmer Iraq.

The U.S. military has repeatedly warned that the fight against insurgents is not over, and the bombing in a village north of Baghdad was the third in as many days in Sunni Arab areas thought to have been largely rid of al-Qaida militants.

There was no claim of responsibility for Monday’s bombing in Hajaj, a village about midway along the nearly 20 miles between Saddam Hussein’s hometown of Tikrit and the oil hub of Beiji, 155 miles north of Baghdad.

– Compiled from Daily wire reports

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