The United Nations Security Council condemned North Korea’s recent firing of seven ballistic missiles on US Independence Day – the reclusive country’s biggest display of firepower in three years.

Western powers have reached agreement with North Korea’s key allies on a United Nations proposal that would impose tough new sanctions on the reclusive communist nation’s weapons exports and allow inspections of suspect cargo in ports and on the high seas.

The London market enjoyed a reversal of fortunes today as it leapt into the black after better-than-expected US consumer confidence figures.

US president George Bush today urged a tough line in implementing UN sanctions against North Korea for its recent nuclear test at a Pacific Rim summit, where he is also pushing a US-backed proposal for a regional free-trade zone.

US President George Bush said today that a reported North Korean nuclear test poses a threat to global peace and security and denounced it as “unacceptable”.